NEWS: John Thune, the No. 2 Senate GOP leader, says in interview Senate Repubs want to leverage the next US debt limit increase to force federal spending cuts and changes to Social Security and other entitlement programs.
@LauraLitvan @NastyOldWomyn Reverse 2017 tax bill giving breaks to 1%. Then raise cap on SS to $1 Million or remove cap completely. Everyone in USA deserves to retire with some dignity. Congress critters get pensions which we pay for. They already destroyed pensions for the avg Joe & instituted 401Ks
@donna_sparkleez @LauraLitvan I need to correct you on one point: Congress didn’t “destroy pensions for the avg Joe,” employers did that. The original purpose of §401(k) was to *limit* the use of executive cash-deferred plans for top employees, but companies figured out they could use it for the avg Joe, too.
@NastyOldWomyn @LauraLitvan Unintended consequences & once again those on the bottom suffer more. We must keep working for a more perfect union. Daunting task
@donna_sparkleez @LauraLitvan There were some benefits to 401(k) plans for the average Joe, too. People could change jobs and take their 401(k) benefits with them, instead of losing any right to a defined pension benefit at retirement by changing jobs or being fired, which was common pre-1978.