Elizabeth Warren responded to claims she is harming Social Security with a classic quote, ‘I’m out there working for Jamie Dimon the same way Dick Cheney is out there trying to save the environment.’
In a Wall Street Journal op-ed, the “think tank” Third Way criticized Sen. Warren on Social Security, “Undeterred by this undebatable solvency crisis, Sen. Warren wants to increase benefits to all seniors, including billionaires, and to pay for them by increasing taxes on working people and their employers. Her approach requires a $750 billion tax hike over the next 10 years that hits mostly Millennials and Gen Xers, plus another $750 billion tax on the businesses that employ them.”
Warren responded to pro-Social Security cuts group by telling the Huffington Post, “It’s just flatly wrong. We could make modest adjustments and make the system financially stable for a century, and we could make somewhat larger adjustments and make the system pay more for seniors who rely on it … The conversation for too long has been about whether to cut Social Security benefits a little bit or a lot. And that is flatly the wrong debate to have in mind.”
Third Way responded that under Sen. Warren’s plan, Jamie Dimon would get a higher Social Security payout. Warren shot back with a classic quote, “Oh please. I’m out there working for Jamie Dimon the same way Dick Cheney is out there trying to save the environment. I believe that we need to be talking about how we can expand Social Security benefits. We need to keep in mind that two-thirds of seniors rely on Social Security to put groceries on the table and for 14 million seniors, Social Security is all that stands between them and poverty.”
Third Way pretends to be an independent group, but The Nation discovered that they share the same corporate lobbyist as US Chamber of Commerce. Third Way may have started out as independent, but it is clear that the right wing pro-business forces are running the show.
Sen. Warren’s quote was a classic. She managed to destroy her corporatist right wing critics in a single sentence. Sen. Warren is also spot on as it relates to Social Security. With the gap between the rich and everyone else at historically high levels, it is common sense that Social Security should be expanded instead of cut.
Future retirees are going to be in an even worse economic position than previous generations. People will need Social Security more than ever. Cutting the program will only serve to increase poverty among seniors, while concentrating more wealth at the top.
This is why people need to stand behind Senators like Bernie Sanders and Elizabeth Warren who are fighting daily to protect and expand Social Security.