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11:14 AM (3 hours ago)
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Saturday, June 13, 2026
A Political Ailment
Friday, June 12, 2026
Andy Borowitz
Police Investigating 8647 Markings on National Mall Find Unusual Hat at Scene of Crime
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3:24 PM (57 minutes ago)
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WASHINGTON (The Borowitz Report)—Law enforcement probing the mysterious markings of the numbers 8647 on the National Mall said on Friday that they had found a distinctive hat at the scene of the crime that could help them identify the perpetrator. The hat, a wide-brimmed navy-blue boater with an ivory band, was reminiscent of the headgear worn by The Hamburglar, who shot to fame in McDonald’s commercials in the 1970’s, investigators said. “It appears to be some kind of spy hat,” the lead detective, Harland Dorrinson, said. “That supports the theory that this was the work of a foreigner.” The detective said that the police were considering the act of vandalism “a serious threat,” adding, “Whoever did this clearly hates Donald Trump.” |
Something to Know - 12 June
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1:09 AM (7 hours ago)
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They don't want you to know the REAL reason Social Security is in troubleBut I'm going to tell you anyway
Friends, The trustees of the Social Security fund said Tuesday that the fund will be depleted by late 2032, a year earlier than the trustees’ projection last year of 2033. If nothing is done, benefits will automatically be cut six years from now. The common understanding is that Social Security’s shortfall is due to the huge postwar baby boom, now retiring, and to America’s increasing life expectancy. The usual recommended fix is to reduce Social Security benefits or raise the age of eligibility. As Speaker of the House Mike Johnson, warned Monday, “entitlement programs” like Social Security “have to be adjusted and fixed.” He said Republicans will introduce a plan to do that. Brace yourselves. I used to be a Social Security trustee, and I call bullsh*t. The baby boom can’t be blamed for Social Security’s shortfall. The Greenspan Commission, which in 1983 recommended the reforms that Congress then made — raising Social Security payroll taxes and also raising the eligibility age for collecting Social Security benefits — knew all about the baby boom and figured it into its calculations. (Early boomers like me can now start collecting full benefits at age 66; late boomers born after 1960 have to wait until they’re 67 to collect full benefits.) Americans’ increasing life expectancy isn’t at fault, either. While wealthier Americans are living longer, that’s not the case for lower-income Americans. The Urban Institute estimates that life expectancy in the top 20 percent of income-earners is 91 years for people born in the 1990s, four years more than people born in the 1950s. Yet the life expectancy in the lowest 20 percent of income-earners is fewer than 80 years. So what’s the real cause of the Social Security shortfall? What did Greenspan’s commission fail to predict? Widening inequality. Remember, the Social Security payroll tax applies only to earnings up to a certain cap. This year, that cap is $184,500. Earnings at or below this amount are taxed at 12.4 percent. The cap rises every year according to a formula roughly matching inflation. Back in 1983, the cap was set so the Social Security payroll tax would hit 90 percent of total income in America. That 90 percent figure was built into the Greenspan Commission’s fixes. The Greenspan commission assumed that, as the cap rose with inflation, the Social Security payroll tax would continue to hit 90 percent of total income. Today, though, the Social Security payroll tax hits only about 83 percent of total income in America. It went from 90 percent to 83 percent because a steadily larger portion of the nation’s total income has gone to the top. In 1983, the richest 1 percent of Americans got 11.6 percent of total income. Today, the top 1 percent takes in more than 20 percent. This year, someone earning $1 million in wages stopped paying any Social Security payroll tax at the beginning of March. Jeff Bezos probably stopped a few minutes past midnight on January 1. Elon Musk, a few seconds after midnight on January 1. (In point of fact, Bezos, Musk, and other robber barons of this Second Gilded Age get all the cash they need by borrowing against their fortunes, rather than bother with pesky wages, so they probably pay a pittance in Social Security taxes.) Logically, then, to get back to 90 percent, the ceiling on income subject to the Social Security payroll tax has to be raised. If all income in excess of $400,000 were subject to the Social Security payroll tax, Social Security’s solvency would be guaranteed forever. We could also expand Social Security benefits. So there’s no reason even to consider reducing Social Security benefits or raising the age of eligibility. The logical and necessary response is simply to raise the cap, Mike Johnson and other Republican shills for the oligarchs to the contrary notwithstanding. |



