Biden Went After Your Benefits

Biden Has Repeatedly Voted For Higher Taxes On Social Security Benefits:

In 1993, Biden Voted For The Omnibus Budget Reconciliation Act, Which Raised Taxes On Social Security Benefits. (H.R. 2264, CQ Vote #190: Passed 50-49: R 0-43; D 49-6, With Vice President Gore Casting A “Yea” Vote,  6/25/93, Biden Voted Yea, McCain Voted Nay; H.R. 2264, CQ Vote #247: Adopted 51-50: R 0-44; D 50-6, With Vice President Al Gore Casting A “Yea” Vote, 8/6/93, Biden Voted Yea)

  • The Omnibus Budget Reconciliation Act Of 1993 Expanded The Taxable Portion Of Social Security Benefits For Seniors Making As Little As $34,000. “Social Security benefit taxation expansion. Expanded the taxable portion of Social Security benefits from 50 percent to 85 percent, when modified AGI goes above $44,000 for joint returns and $34,000 for single returns.” (“Major Enacted Tax Legislation: Omnibus Budget Reconciliation Act of 1993 (OBRA93),” Tax Policy Center, Accessed 9/28/12)

Biden Has Voted At Least 6 Times Against Repealing The 1993 Tax Increase On Social Security Benefits. (S. Con. Res. 57, CQ Vote #142: Adopted 50-48: R 49-4; D 1-44, 5/22/96, Biden Voted Nay; H.R. 8, CQ Vote #188: Adopted 58-41: R 54-1; D 4-40, 7/13/00, Biden Voted Nay; S. Con. Res. 23, CQ Vote #94: Rejected 48-51: R 48-3; D 0-47; I 0-1, 3/25/03, Biden Voted Nay; S. Con. Res. 70, CQ Vote #52: Rejected 47-53: R 47-2; D 0-49; I 0-2, 3/13/08, Biden Voted Nay; H.R. 2, CQ Vote #28: Motion Rejected 42-51: R 41-4; D 1-45; I 0-2, 1/25/07, Biden Voted Nay;S. Con. Res. 18, CQ Vote #74: Adopted 55-45: R 50-5; D 5-39; I 0-1, 3/17/05, Biden Voted Nay,)

  • In 2008, Obama’s Economic Plan Acknowledged That The 1993 Tax Increase On Social Security Benefits Places Greater Strain On Lower And Middle Income Seniors. “Lower and middle income seniors are struggling as their expenses on health and energy skyrocket while their incomes do not keep pace. This strain has been greater since 1993, when taxes on social security benefits were raised. Millions of seniors saw their net benefits go down.” (Obama For America, “Barack Obama: Tax Fairness For The Middle Class,” Fact Sheet, BarackObama.com, Accessed 9/28/12)

Biden Favored Applying The Payroll Tax To All Earnings Without Any Exemptions, Putting Him At Odds With Obama:

Biden Favors Lifting The Cap And Applying The Payroll Tax To All Earnings To Fund Social Security. NBC’s Tim Russert: “Right now, you pay tax for Social Security on your first $97,500 worth of income. Why not tax the entire income of every American? And if you do that, you’ll guarantee the solvency of social security farther than I can see.” Biden: “The answer is yes. I’m probably the only one up here who’s going to say that, but the truth of the matter is, you stated it.” (MSNBC Democrat Presidential Candidates Debate, Hanover, NH, 9/26/07)

  • The Urban-Brookings Tax Policy Center Estimates That Eliminating The Earnings Cap Would Increase Taxes By More Than $1.4 Trillion Over Ten Years. (The Urban-Brookings Tax Policy Center, “Options To Adjust Social Security Earnings Cap, Static Impact On Individual Income And Payroll Tax Liability And Revenue ($ Billions), 2009-18,” Tax Policy Center, 1/2/08)