Did I just hear.. the President said he is willing to effect Medicare and SS

by raising the caps?

Edit to add..by having those of a 1,000,000 and over paying more? I have three people talking at once here and I may have misunderstood. thanks in advance..

I thought it was just me.

I am typing and three friends are talking at once and now we are all confused and not sure..

This is good stuff.

I'd still be cool with it.

is that the same as raising caps?

There is no cap on income subject to the Medicare portion of payroll tax. I'm sure he would support raising the cap on SS taxable income to includ 90% of earned income, as advocated by all three deficit reduction proposals: Bowles-Simpson, Domenici-Rivlin, and Progrewssive Caucus. That would take the cap currently to about $180,000. But that would involve a considerable increase in revenue. It may be included in the big deal, but isn't in the $2 trillion deal.

Thanks Jen.. I am going to try and listen a little closer to this

he'll probably mention it again. :)

In other words, can those (LIKE HIMSELF, as he regularly points out), who can afford to pay more in those costs when they become eligible do so?

This is more than fair to me.

EVEN for Medicare.

the estate tax has been ridiculously low so children will not lose out and you can't take it with you!

When he mentions people who can afford to give a little more.

sacrifice).

But generate only 30% of the tax revenue, for example. 2% of the wealth left to the rest of us generates 70% of the tax revenue.

If you actually watch when he speaks and don't just listen to out of context small bites from the MSM or listen to unnamed sources
you will feel better.He also mentions how the so called balance budget amends could be worse than the Ryan Plan.

He would make the rich pay more.Raise caps on what the Rich pay In Social Security.Ene tax brakes for corporations.He talks about
cutting Military spending.He talks about cutting programs we don't need.He talks about how health care reform can save money to medicare.The MSM only wants to pay clip of him saying he can't guarantee Social Security checks going out on August 3.He also today talked about extending the Payroll tax Cuts and Unemployment.

80 percent of American People support the Obama approach of half Spending cuts and half raising taxes on Rich/ending tax breaks on
corporations.

what we will probably end up with because despite what the Tea Party wants the rich who control Republican party won't risk an economic collapse are

A:Raising the Debt Limits with commission looking at future Spending cuts which may not go anywhere
B:Cutting 1 Trillion In spending(Much lower that what Republicans wanted and less In SS,Medicare,and Medicaid) and the Debt Limit Is raised.

Anyone can take sound bites and make things sound worse than they are. Cherry picking is the worst, most evil tactic ever used by the GOP and their minions.

instead of "the republican don't want revenue increases". Although I'm no expert, I think a little class warfare at this time would be great.