[lbo-talk] Kuchinich explains backing Obama over Edwards

[Max B. Sawicky]

Doug Henwood wrote:
> On Jan 8, 2008, at 4:41 PM, Max B. Sawicky wrote:
> 
>> I like some kind of cap, though it should be indexed and rise  
>> gradually over time.  The reason is to support the social insurance  
>> rationale for the program.
> 
> A smart person told me long ago - though I haven't fact-checked this  
> myself - that the Congressional debate on SS made it clear that it  
> was supposed to be financed by labor and not capital. Since incomes  
> above a certain level are conceptually returns to capital, that's the  
> logic behind the cap. You support this, Max?
> 
> Doug

There's something to the logic, but the basic rationale has been that 
this is insurance
for workers, so they should pay for it, or for most of it.  In a 
different environment
it might be possible to propose a different framework, but that is less 
urgent these
days than ten other things I could think of.