Social Security advocates long have had doubts about President Obama’s support for the program (as we reported as recently as last month). But that ended Wednesday, when in a speech in Elkhart, Ind., he suddenly called for expanding the program.
“It’s time we finally made Social Security more generous,” he said, “and increased its benefits so that today’s retirees and future generations get the dignified retirement that they’ve earned.” He endorsed raising the payroll tax on the wealthiest Americans, whose responsibility for contributing to the program is capped at $118,500 of wage income this year. “We could start paying for it by asking the wealthiest Americans to contribute a little bit more,” Obama said. “They can afford it. I can afford it.”