Obviously you’re not familiar with the constitution and why we are different than other countries. I can guarantee if you were the “rich” you speak of you would feel different.
@@lisabarnum2374 lol you’re clearly not familiar with the constitution if you think the tax code is in there. And if Elon Musk was a member of the American working class, and not a billionaire immigrant from South Africa, he would call for billionaires to be taxed more so that regular people didn’t go bankrupt every time they have a medical emergency.
It kills me that the first thought when it comes to handling our debt is taking away from people who have the least. Take money away from seniors, poor people and people with disabilities. Also F vets who fought for our country, take their benefits too. Can we think about raising revenue instead of screwing over regular people?
What, you mean look out for those in need, or do your job to handle to protect a system that everyone pays into? To actually care about veterans who fought for our nation? Perish the thought.
Raising revenue can only be done by raising taxes and closing tax loopholes. Do you think Donny and musky are gonna take that route and take money from their rich buddies. No.
@@leeuchiha5661There's been so much surprise that the "unwashed masses" are supporting Luigi Mangioni. I don't think the experience of not being a billionaire, having trouble with your healthcare company, and working hard just to meet your bills... Is something that is a partisan issue? These kind of discussions always seem to start with " well we're going to have to look at Social Security and Medicare, and then the veterans come next..." And actually texting billionaires rarely comes up which is so completely strange. I mean I know Trump isn't going to do it cuz they're his buddies, but I would think it's the first logical thing to do.
Tax churches. Problem solved. That is the tax loophole that should be closed. Also what the definition of a "not for profit company" means should be changed
@@angiee1603 Yes! We can think about it. We can do it too. We have to elect representatives who value their positions and respect the general public. Also, if we want to get a grip on the billionaire problem, we can make a variation of the Magnitsky act. Call it the Musknitsky act.
Close up the loopholes, the super rich use to avoid paying their fair share. Raise the cap on social security, to keep it solvent. Make government work FOR the people, NOT against the people. 👍💙🇺🇸💙
And people just elected the... person... who's going to DECREASE the revenue to pay all those bills? How the fuck is that an answer to this "National Security Risk"??? These folks amaze me.
Social Security and Medicare is an absolutely easy fix. Completely remove the FICA cap. The FICA cap is current $176,100. Anyone earning over that doesn't pay FICA after they hit that mark. Pay FICA, no matter how much is earned, bonuses, or stock distributions.
Exactly. Elon Musk who has a net worth of more than $400 billion, whose yearly earnings are in the billions, pays no more than $10,918.20 in Social Security taxes. As of January 2025, the average monthly Social Security retirement benefit is estimated to be $1,976, Musk wants to cut it.
Good point. In the late 1980s, I covered payroll for a lumbar company (who was receiving Superfunds from the Dept. of Environmental Quality for 100 years of water pollution for treating wood.) When I found out that there was a cap on FICA and that the president (who earned $67K [yes, 1986ish], I was shocked. Why not lift the FICA cap on salaries??? Further, why was Social Security taken from being in a trust fund and added to the General Fund??? Now, I am a senior with a rare, incurable disease and have not worked since 2001. I have only SS & Medicare. I receive financial aid for all the specialized medical care I receive to cover what Medicare does not cover. I'm one of the lucky people b/c of the assistance I receive. Cut my SS, Medicare and housing assistance and I will be on the street. Remember January 6? Imagine the Capitol Mall filled with elderly folks, disabled folks and Veterans. They'll have to storm the Capitol in wheelchairs, with canes & walkers. We know that won't happen so it's time for letter-writing and calling campaigns to one's Senators and Representatives.
@mariaxeniaallen, I've made that comment before. Every one of us using a rollator, wheelchair, other mobility assistance, plus hospital beds with healthcare nurses and doctors pushing the beds needs to be there. So many, we stop all traffic because we're moving slowly. We need to remove that FICA cap so everyone can retire comfortably and without fear of ending up on the streets. Stop taking money away from us and make the wealthy pay their fair share.
I'm finding it extremely hard to listen to Maya keep saying that she thinks that the DOGE folks seem really serious about finding places to cut. These are the same people who put way more thought into the acronym of their fake "Department" than even taking the most cursory of looks at what is really possible. She is encouraged that he has pared back his estimate from 2T to 1T, because she thinks now he has really looked into it. He was only off by 50% and that is encouraging? WTF is encouraging about that? Also, I am extremely disappointed when she starts off the math problems by just rolling over on the fact that the new administration is going to extend the tax cuts for the top 1% like it is just a given and there is nothing to be done except for cutting benefits for the rest of us poor schlubs in the bottom. Get real! She says we need to fix social security, but no mention of raising or eliminating the cap on contributions? This is the exact same set of plays that got us into this mess in the first place. Fiscal responsibility needs to come from both ends of the equation. That is what she is saying, but not the path she is laying out for it to be accomplished. I'm not being fooled by this doublespeak.
Look at it from her perspective: she's been lobbying for balancing the budget in Washington for decades. It's probably a lot like being Gloria Burgle in Fargo- sensor faucets don't turn on for you, automatic doors won't open, your cell phone garbles everything you say, you mysteriously don't appear on security video. She must find it refreshing that *anyone* is validating her existence.
@@lynxminx4 If you have been spending decades trying to get people to listen to you about balancing the budget, maybe you should look in the mirror and see if your message is flawed. Some of these people jump up and down about balancing the budget, but only focus on cuts. That is like trying to balance a see-saw by constantly adding weight to only one side. If a bunch of whacked out edge-lord internet trolls are the ones that validate your theories, again I am inclined to believe that those theories are probably not very well though out.
@@makerbobdesigns365 No argument from me on any of that. Republicans have been aggressively cutting taxes for the past 40 years *in order* to shrink the government. They know they can't win a direct argument to end extremely popular programs and services like Medicare and Social Security and the USPS et al, so instead of owning up to their unpopular objectives they starve these programs of the funding they need to run, then point and say 'look, these programs are broke, they aren't sustainable, they are making us bankrupt, we have no choice but to end them'. They break the thing in order to complain that the thing is broken. That said, there are some true believers out there and Sara and Maya are probably two. Anyone who earnestly believes we are going to be economically attacked by China if we don't balance our budget is probably not having a lot of luck getting meetings on the Hill. Trump relegated the domain to a couple of rich private sector nutcases for good political reasons.
This is what I can never understand about "responsible" Republicans who NEVER think of raising taxes on billionaires but call for more cuts on Food Stamps.
What is wrong with you people? Leave the working class alone. Do not touch S.S or Medicare, Increase taxes on the super rich and tax stock trades, problem solved.
Seriously!! This pisses me off so much! Why is it ALWAYS on the backs of the working class? THIS, if they implement it, will get people in the streets! ALL working class people UNITED to demand we get our flipping retirement money! My husband turns 65 this year...still working and I'll be 62 this month, part time work. @@neeleynonea
All the tax cuts for the rich all the way back through Reagan era and other incentives for the rich and corporate are why this country is so in debt not the people or the Social Security and Medicaid!!!
Excuse me the “right” thing is not to cut the money paid in by taxpayers for a specific purpose but to raise the cap and forget another tax cut for already rich people. In other words taking from the poor to make the rich richer is not a good idea. You can only push us so far.
@connies8611 exactly and this lady is super casual about it. She's saying "let's take all the earned money away from these people, they're too small and unworthy, then we can have their money to pay off what we get away w on our taxes".
This conversation is so rich. Maya admitted there was an enormous 1 - 2 trillion in "tax code" meaning loopholes mainly for the wealthy. How about we start with fixing that instead of taking benefits from poor and elderly people? Then we could, heaven forbid, significantly increase the social security income cap so it can stay solvent basically forever. Please, can the people, with their votes, demand less income inequality? Tax cuts for the wealthy is the last thing we should be contemplating.
Yeah, this is someone who has taken the step of faith required to believe neoliberal economic theory. Maya seems to think the emperor is wearing a delightful suit.
Thanks Fourth, I've always thought we should flip the way SS is funded. Now there is no bottom, but a cap on income (WTF?). We should flip it: Have a low ($40,000/yr ??) base that doesn't pay, but an unlimited top. And included ALL income types. That's one way the wealthy keep their low tax rates: it's not 'wages'.
@@johnr8252 ‚fiscally conservative’ to these two means cuts. Tax cuts for the rich and cuts in all government services that benefit the poor. And since that isn‘t enough they are also going for the middle class.
This interview is for all of the people who forgot Republicans are shitty people in general. MAGA has made them forget what was happening before Trump.
As an entomologist, I want to confirm for the Bulwark community that the mealworm mating laugh line is important agricultural food security research if you don't want infestations of bugs in your grains/cereals. Global losses to stored product pests is around $100 billion per year. A few thousand dollars invested in saving hundreds of billions over time is a great ROI. Also, mass producing mealworms as sources of protein powder in animal feed also requires research on efficient breeding of insects. In short, getting successful grant funding for ag research is hard. It requires convincing different groups of people that it is important, and in ag, also usually requires letters of support from commodity groups showing that the work will help them make/save money.
Well this was cool to know. I honestly dont care about dropping money for these studies cause i dig it. But for people who think its a waste, they just dont get it.
Someone needs to explain - in financial detail, not just as bumper stickers - why: (1) why do we need to extend these ridiculous tax cuts for the wealthy at this time, and (2) why do they think they need further cuts in rich people’s taxes but need to sap low and middle income people’s Social Security and Medicare?
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years in another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with Tracy Britt Cool Consulting my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
< I know this FA you just mentioned. Tracy Britt Cool is a portfolio manager and investment advisor. She gained recognition as an employee of Berkshire Hattaway; a renowned investor she is. Ms Tracy has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
The debt issue is less a spending issue than an income issue. Just think how much the Reagan, Bush and Trump tax cuts + the SS taxes cap have shortened the US finances. This is more than the current debt. Working people did not profit from these tax loopholes, only passive income earners did.
I went from no money to lnvest with to busting my A** off on Uber eats for six months to raise about $30k to start investing with Tracy Britt Cool. I am at $128k right now and LOVING that you have to bring this up here
Please how can I liase with this FA? I am seeking for a very effective investment approach for my savings which gradually depreciates in value due to inflation
Well her name is 'Tracy Britt Cool Consulting'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment
At present with the war un Ukraine and war looming in the Pacific, it does not appear wise to cut on military spending right now. That being said,I think DOGE can do its most streamlining in the military: 700 U$D for a common torch comes close to corruption, IMMO.
@nicolaasstempels8207 nobody cares about the Pacific or Ukraine. We've been at war for our entire history. Our entire foreign policy is war. How about we take a breather.
Raise taxes on the super wealthy and mega corporations. It's very easy to say cut SS and Medicare/Medicaid when you work for a conservative, economic think tank and are extremely wealthy. Eff off. This is a load of crap. The happiest countries in the world have robust, social programs and EVERYONE pays their share of taxes. This discussion was repulsive.
Americans have fallen for the trickle down lie. If a person makes a million dollars in a year, their tax bill should be about half. Anything over one million a year the tax should be 60%.Anything above 5 million should be taxed at 90%
Tax the damn rich, put the money in SS, Medicare, Education, etc… subsidies for the industries… stop doing cut taxes for the wealthy, and corporations. With all the deductions they get they end up paying nothing ! At least compared to ordinary citizens
Yes..His heartless words about the LA fires show how giving he is. Fellow humans need our caring and support, not babble on about divisiveness and fish.
His wealth can be taken away because of fines we could impose upon him. We also need to see what his taxes look like I’m sure he gets all kinds of breaks that are not legal. I would bet on that one.
Leave my social security and medicare alone!! i paid in it for my entire life. Take it out of the freaking tax cuts that he's promising the wealthy. Take it out of the budget for defense
Lone Skum can cut it from the salaries of the millionaire Magagops in Congress who voted for T.H.E. Rump's tax cuts for millionaires and billionaires, and those like Margarine Tater Greens who got loans which they did not pay back during the pandemic.
Katie Porter pointed out that Social Security has NEVER COME OUT of the Federal Budget -- $0 -- it's in a separate fund paid for by payroll taxes!! SO how does this "expert" think addressing Social Security problems will reduce the Budget??
Because politicians have been 'borrowing' from the Trust Fund for decades to hide their spending. I'm old enough to remember the SS 'lockbox' worked out in I think the latter part of Reagan's term that was subsequently demolished.
I think you are giving the DOGE guys way too much credit. They want to make changes for only those things that will benefit them and their companies. They don’t care about fiscal responsibility, they care about deregulation and making money off the American people.
Pay attention to what org this woman represents, and her words: she quickly glosses over cuts to veteran benefits, farm subsidies, healthcare, etc. There are other alternatives that include enforcing and creating corporate taxes. When she’s talking about taxes that need to “be addressed,” I guarantee that she’s talking about continuing to put that onus on the W2 employees.
@@clow5517 Much worse than a centrist. She's for privatizing Social Security, so the rich can make even more money and charge you fees for managing SS!!! A total slimeball.
@@clow5517 I don't worry about labels. Centrist, conservative, progressive all have good and bad ideas. This is an idea with major consequences to the average American
Musk and the rest cannot stop salivating and got their eyes on that ss money when they already have so much money they couldn't spend in lifetime its criminal. How much money do they need?
Not only are we paying into social security, it has a huge surplus. They are lying to us but some Democrats in Congress already told us what's up. They said SS and Medicare is solid with a solid surplus. The gas lighting by these right wing so call budget hawks is mind blowing.
Why is the Bulwark treating this like a legitimate thing? It's a joke, always was a joke, and always will be a joke. Asking the Billionaire who is in receipt of massive government funding to cut government funding to everyone else is a road to one hell of a dystopian landscape.
Okay but its not a joke, this shouldn't be seen as a joke. Someone eith so much power spreading misinformation and being unknowledgable of the government being friends with the president AND has influence IS NOT A JOKE. Thats not funny, its not a joke, joking to take away 2 trillion from the things that keep people alive is not a joke. Being able to see something as horrible as this as a joke means you should check your privilage
@kaitkat3034 Taking away money from programs that help people is not a joke. What is a joke is treating Musk, a person who doesn't have a clue about how government works and is interested in putting money in his pocket from government contracts will be responsible for a good outcome.
Do Sara and her guest actually think that Musk will reduce defense budgets when he makes so much ripping off the US government with his government contracts? They didn't speak about having the wealthy and corporations pay their fair share. There was only talk of cutting social security, medicare and veterans benefits. Do they really think that these billionaires are going to cut medical costs and tank HMO's?
Maya was a bit disingenuous. As of 2024, China owns 9.1% of our debt. US entities hold the most percentage of national debt. The fact that the debt is held in dollars is a significant point. The Fed could print more dollars and pay down the debt. That could weaken the dollar and cause inflation. It's a fall back position if China is a threat. China's economic situation is dependent on the soundness of the dollar. It's doubtful that China would tank its own economy.
It's who they are. Reagan Republicans who want to slash the government to nothing and give tax cuts to the rich. They're just sad trump is a buffoon who's damaging their brand.
Gotta' hand it to him, Elon is a master of efficiency: while it took at least a year for me to fully loathe Donald Trump's voice, I've come to loathe Elon's in a matter of just a few months.
That's paid for, too! It's taken out as the managing costs rise! No, the people pay for that! The people pay for everything! There would be no government without the people's money! Think about that!@@lorijnash5582
@gingerjohnson2845 I am shocked. SHOCKED!! I say. To learn this. Yeah. If he would add to the total income of the federal government, the expenditure of the federal government wouldn't look so extreme. (no, not shocked at all)
Maya's organization needs to change its name to "Committee for More Spending Cuts" because she's never admitted that Federal budgets have a revenue side.
Sarah, you cannot talk about Social Security for the simple fact is that’s not the government’s money. It’s our money and you can’t have it. They can have it. No one can have it. It’s ours and then it’s not an entitlement. It is a earned income.
Except that's not how Social Security works. The money I put in was long ago spent. Pretty soon the money younger people put in is going to me, to the extent there is anything left when it's my turn. So it's not MY money we're talking about; it's the money of working people contributing today. It's kind of a scam because the cap on social security taxes makes it highly regressive by nature. It's a tax and we should treat it as such by removing the cap and means-testing benefits. Elon Musk certainly doesn't need a social security check.
And the people we would depend on to make reasonable fixes are the ones that put iou's in the trust fund swearing they would repay out but now say no chance..
@@mikeduke1294 Lots of talk about touching the untouchables ! Yet, one of the excuses the guest and Sarah mentioned was the lobiests. The lobby groups will try to beef up their rich wealthy members. So, of course, they will use that as an excuse, and that goes directly into taxes. Taxes for the wealthy are one of the biggest reasons we are having these conversations yet DoJ is built from the wealthy so oh well forget that idea.
It’s no more “ours” than any other federal money. That nonsense about a trust fund is just a fig leaf for the Ponzi scheme. Boomers win, everyone else loses. (I’m a boomer, BTW)
Love Bulwark crew but really frustrating that the focus on budget with “normal” Republicans is always on the spending side and never on the revenue side. Much of our debt is caused by inadequate or slashed revenue. Would really appreciate thoughtfulness about this. Really ticks me off.
thanks for highlighting this- maybe they will talk about it! It would be great to see where things overlap and how they can meet up to get things taken care of!
The guest doesn't seem to have any idea who Musk and Vivek really are. A government contractor (with the mentality of a hungry 13-year-old) and a medical fraudster are really going to do something serious? Waste of a podcast
So...veterans, elderly and disabled get the shaft and the rich who don't Need more money, get richer. Is there NO one in government who can see the trees for the forest, and come up with a way to work on the budget??
I know budget and tax cutting are the primary tools used by traditional conservatives. This woman is a well informed and thoughtful elucidateor of this position. Unfortunately for capitalism, not just in the US but around the world the Conservative elements created a tilted playing field for the economy so that it now only benefits the very wealthy and powerful. This accounts for the massive wealth gap and destruction of entitlement programs. The insider trading by politicians, for which let's not forget, James Comey oversaw the imprisonment of Martha Stewart, is done openly and sanctioned by the law. This corrupts the system. Vast amounts of money are sloshing around in politics and in supposed courts of law, like the Supreme Court. Getting rid of for profit medicine and drug manufacturing would radically decrease costs to government. Raising taxes on the wealthy, tracking down the hidden wealth, off shore accounts, moving money around as Apple did to avoid paying taxes, would also improve our financial and possibly social stability. The idea that grifters like Trump, Ramaswamy ( who runs a drug grift company ) or Musk who has shown us his capacity to run a once successful buisness into the ground are not individuals who have any skill in righting the ship of America. I'm concerned that given the powder keg balance in America fueled by disaffected vetrans who are arming and training for "The Final Battle" and the backroom fascists like J.D. Vance and the 2025 crowd we maybe about to revisit some very dark times. As JVL likes to say " Good luck America"
They cannot cut any more off of Social Security, I’m on disability and I get less than $20,000 PER YEAR. It’s unbelievable to me that anyone would think of cutting it. Wow
Social Security has NOTHING to do with balancing the budget! It’s a completely payer sustained program. Currently, we have roughly 3 laborers funding every 1 recipient. Not sure why the keep trying to convince people that it’s got anything to do with the federal budget. I assume to continue stealing from it.
You really don’t want to scratch the surface too much in terms of their feelings on Social Security. Most people are horrified by what the libertarian heart really feels if clearly expressed, ie he’d be fine with you getting nothing and dropping dead. I hope he fails, but we all need to be clear eyed that he’d do that if he could snap his fingers and get what he wanted. It’s the entire problem and why the discussion in the video isn’t very honest. They are not going to propose things to make programs more efficient, they are going to propose cutting or eliminating what those programs do, which is a very different thing that will hurt real people if they get those changes through.
Any time a “pundit” talks about cutting SS and Medicare from the budget, I immediately discount their “expertise”. Social Security is a separate fund that is does not add to the deficit.
Why is social security involved at all? SS contributes zero dollars to the deficit. The problem is that the arbitrary limit to the FICA tax is too low, it should be removed completely.
I wish that one of them would explaine how they save from something goverment doesn't contribute to. And as long as people work there is no bankruptcy of social security
The florescent make-up makes Trump the official clown. PT Barnum couldn't have been more right. In America, there IS a sucker born every minute. Otherwise, the Republican party would would fizzle and die.
Why is it that whenever they want to cut spending, it's always spending on services to the poor? Why do they never propose cutting spending on tax breaks for the super wealthy??
They mention the last time debt/gdp was this bad was right after WWII. The answer then? A marginal tax rate of 90% on the top 1%. And it stayed that way throughout the golden years of the fifties and early sixties.
I didn't hear anything about what the top 1% is going to do to help cut the budget. The top 1% will not have to worry about their medical care, food, lodging, or social security. I would like to hear from someone from the other side.
They are “quite serious”? These are the most unserious people in the world. The most they are going to do is what they always do; across the board cuts and tax cuts. The deficit will continue to climb like crazy.
@@robynwells8249 I say... let them GO! Even grubby Russian Oligarchs want to live/enjoy the luxuries America provides. So, where're they realistically gonna go?
They talk about cutting Social Security but never talk about lifting the income tax is capped at everything under $176,100. If they just removed that we could fund social security and medicare forever but we won't do that because our government is owned and controlled by those who make more than that.
How can you have someone like this on saying to cut Social Security and veterans benefits. How about Elon’s trip to Mars. You anger me and will not watch your show again. Maybe you need to loose your damn money from no viewers. Maya is full of crap.
Sara, I am really disappointed that you did not push back with Maya on Social Security and Medicare. There are some very simple solutions (like raising the cap on income for one) that will shore up these benefits that were EARNED by every working American. I would like to see an entire episode dedicated to some of those solutions. Our members of Congress act like they have every right to do what they will with those funds including throwing millions of seniors into below poverty situations. That is just not right!
I wasn’t surprised at the end of the day Sarah is a republican she’s just not a trumper many republicans including in the house and senate have been saying this for years to cut ss and Medicare and they are talking about it a lot now that Trump is back
Talking about cutting Social Security and Medicare is more cruelty is the point. Lift the cap on income. People who make plenty of money and have investments have no idea what real life is like.
The cap for payroll deductions is $150,000. When that was enacted that was a large salary. It is not now. Raise the cap to about $400,000 and that will generate a lot of money.
It's $175,000 in 2025. Forget a $400K cap. Every dollar earned should be taxed. Many wealthy people pay nothing because they don't earn wages. Let's look at that too.
social security,vets,medicare??how about not giving giving the rich anymore tax reductions get rid of their write offs and make them pay a higher rate than we do!
Have Trump stop charging the Taxpayers for his weekend golf games at his “for profit” private clubs. In 2017, he was on track to charge taxpayers $237 Million!
Guest said no one wants to talk about veterans' benefits. I wonder why? These brave Americans went to war for their country. So now we back out of government commitments to them? Please.
When discussing how to cut spending or lower national debt, soc sec should NEVER be part of it. Social Security adds NOTHING to the debt. We dont borrow any money to pay SS. Zero. It's so misleading or a flat-out lie to suggest that Social Security "must be looked at" regarding cuts.
If the debt is the problem, the solution is to raise taxes on the wealthy. Cutting 2 trillion out of discretionary spending over ten years is more pain than this country is ready to absorb. And there would be nothing 'fiscally responsible' about stealing all of the money working Americans have paid into Social Security to ensure their own retirements and using it to pay down the national debt.
This is absolutely ridiculous The Simple Solution is to tax the rich they need to pay a proportional amount just like working class people do oldest gymnastics is completely unnecessary and it's all about enriching the rich and what is the real justification for that😊😊😊😊😊
Not many people noticed when Trump said that he couldn't bring down the prices of groceries and utilities because it was "hard". So much for that promise. Now Elon is pulling the same Trump. Like "I didn't really mean what I said".
Individuals and companies just paid millions each to buy a president, buy themselves government appointments, and encourage policies which harm the environment and promote climate change. The money is out there, and there are some who can afford to give a lot more.
So their plan is to raise taxes on the people who are ACTUALLY ALREADY PAYING THEIR TAXES LIKE THEY ASRE SUPPOSED TO SO PUNISH THEM MORE BY RAISING THEIR TAXES!! Abhorrent idea for sure! There is not Way that BILLIONAIRES SHIULD BE IN CHARGE OF THESE DECISIONS
Tax the rich like we did in 50’s and 60’s. Get the debt down then we can relieve some of the pain. Healthcare would be cheaper if we did not have insurance companies and hospitals profiting through the roof, and pharma... healthcare for profit is a huge rip. FIX THAT!
If you cut Medicare and Medicaid you will be closing Hospitals all over rural areas in the US which is where DT's base lives. Already there are places in the US that Hospitals have closed and people live so they are now over 100 miles from a Hospital. Taxes have to be part of the issue but no Republican can ever vote to increase taxes. Perhaps Maya should talk to them first before she supports increasing poverty in the elderly.
Listen, what has President Trump been the best at doing in the corporate world? He's been best at declaring bankruptcy. I hope bankruptcy doesn't happen to the US, or can't happen, but what if it does? It would wipe the books clean, I suppose, but at what end result?
Ok now do an explanation of how this will affect the lower and middle class. Two rich ladies want to see budget cuts that won’t affect them adversely in the least. I just watched Merrill Lynch’s 2025 outlook and they were very excited about corporate profits derived from “asset light corporations” and “high productivity” and AI because it reduces labor, aka eliminates workers. This means the lower and middle class get to fight for scraps and support billionaire lifestyles. This makes me angry and Musk convinced the workers that this would be awesome for them.
I wonder if Sarah Tim or any of those guys ever realized that talking about cutting Social Security to fix a problem cause by rich people getting big tax breaks is why I don’t subscribe i.e. pay for the Bulwark videos. It’s pretty clear. They really don’t get it. And maybe it’s because they’re not old enough to reach the age where the body is broken and you really shouldn’t be working anymore. And the understanding that that age is different for everybody.
Start with rolling back the tax cuts for billionaires who can obviously afford to donate hundreds of millions to candidates to keep their tax cuts-so just repeal the damn tax cuts for Elon et al.
May I make some assumptions? If a large portion is cutting the number of federal employees, then you have to ask, will these former employees be in the unemployment category and drawing funds on state or federal unemployment funds?
It actually does, through budgeting chicanery. Our government 'loans' money to the Social Security program through the Fed, and the loan amount is factored into our national debt figure even though we're also the creditor for those loans. For the past twenty years interest has been nearly zero, making this accounting even more absurd.
@@gingerjohnson2845 Both things are happening. The income is being raided, and then to pay their obligations they take money from the Fed....and the Republicans get to say the program is insolvent.
The poor and middle class in this country have been bled dry for decades. We, the indentured servants of America, have GIVEN the obscenely rich ENOUGH CHARITY. Time for them to PAY the ACTUAL COST of their capricious dalliances , starting with the people whose labor & lives they STEAL.
Fiscal responsibility starts with actual responsibility: namely, that of the government to its citizens. As a former "fiscal conservative, social liberal" (a label that most accurately depicts a person out of tune with reality) one of the things I noticed among my peers was that they saw cuts as an end to themselves. Budget number go down? Virtuous. Who actually gets hurt? Irrelevant. I would rather run a deficit than make cuts that hurt the ordinary American while preserving the tax cuts, subsidies, and sweetheart deals that the government routinely gives to its donors. I'll believe that cuts are difficult when I see GOP and Dem donors getting pissed off about them.
Why do we maintain 800 + military installations world wide? Why does the pentagon build, own and maintain hundreds of golf courses? Why does the military have to waste every last penny or next years budget will get cut. If the air force needs new planes this year, give them the budget. If they don't need them next year, the budget should reflect that. I'm not anti military. My dad was in 30 years. Half my immediate family is retired military. I'm just a bystander and I can see the waste. Every few years a commission looks at military installations to determine which are necessary and which are outdated or unnecessary. Have any closed in the last 40 years? Not in my back yard says everyfuckingone while we bitch about the budget.
Fiscal responsibility is a balancing act where both spending and INCOME (taxes and fees) have to be considered. Our taxes on the very rich and corporations are historically absurdly low. Tax cuts cannot be any part of budget exercises. Cynically unserious.
TAX THE RICH THE WAY OTHER DEVELOPED NATIONS DO!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Tax the rich the way we used to under Eisenhower. I liked Ike!
Obviously you’re not familiar with the constitution and why we are different than other countries. I can guarantee if you were the “rich” you speak of you would feel different.
@@lisabarnum2374 lol you’re clearly not familiar with the constitution if you think the tax code is in there. And if Elon Musk was a member of the American working class, and not a billionaire immigrant from South Africa, he would call for billionaires to be taxed more so that regular people didn’t go bankrupt every time they have a medical emergency.
The oligarchs are coming for them too. THIS is the New World Order.
Right! Duh!!
It kills me that the first thought when it comes to handling our debt is taking away from people who have the least. Take money away from seniors, poor people and people with disabilities. Also F vets who fought for our country, take their benefits too. Can we think about raising revenue instead of screwing over regular people?
What, you mean look out for those in need, or do your job to handle to protect a system that everyone pays into? To actually care about veterans who fought for our nation? Perish the thought.
Raising revenue can only be done by raising taxes and closing tax loopholes. Do you think Donny and musky are gonna take that route and take money from their rich buddies. No.
@@leeuchiha5661There's been so much surprise that the "unwashed masses" are supporting Luigi Mangioni. I don't think the experience of not being a billionaire, having trouble with your healthcare company, and working hard just to meet your bills... Is something that is a partisan issue? These kind of discussions always seem to start with " well we're going to have to look at Social Security and Medicare, and then the veterans come next..." And actually texting billionaires rarely comes up which is so completely strange. I mean I know Trump isn't going to do it cuz they're his buddies, but I would think it's the first logical thing to do.
Tax churches. Problem solved. That is the tax loophole that should be closed. Also what the definition of a "not for profit company" means should be changed
@@angiee1603 Yes! We can think about it. We can do it too. We have to elect representatives who value their positions and respect the general public.
Also, if we want to get a grip on the billionaire problem, we can make a variation of the Magnitsky act.
Call it the Musknitsky act.
the only answer is cut the tax breaks for the fabulously wealthy. That's it.
No shelters for their money.
Close up the loopholes, the super rich use to avoid paying their fair share.
Raise the cap on social security, to keep it solvent. Make government work FOR the people, NOT against the people. 👍💙🇺🇸💙
That is _one_ of the answers
Not likely to happen, but the massive defense budget as well?
And people just elected the... person... who's going to DECREASE the revenue to pay all those bills? How the fuck is that an answer to this "National Security Risk"??? These folks amaze me.
Social Security and Medicare is an absolutely easy fix. Completely remove the FICA cap. The FICA cap is current $176,100. Anyone earning over that doesn't pay FICA after they hit that mark. Pay FICA, no matter how much is earned, bonuses, or stock distributions.
Exactly. Elon Musk who has a net worth of more than $400 billion, whose yearly earnings are in the billions, pays no more than $10,918.20 in Social Security taxes. As of January 2025, the average monthly Social Security retirement benefit is estimated to be $1,976, Musk wants to cut it.
Good point. In the late 1980s, I covered payroll for a lumbar company (who was receiving Superfunds from the Dept. of Environmental Quality for 100 years of water pollution for treating wood.) When I found out that there was a cap on FICA and that the president (who earned $67K [yes, 1986ish], I was shocked. Why not lift the FICA cap on salaries???
Further, why was Social Security taken from being in a trust fund and added to the General Fund???
Now, I am a senior with a rare, incurable disease and have not worked since 2001. I have only SS & Medicare. I receive financial aid for all the specialized medical care I receive to cover what Medicare does not cover. I'm one of the lucky people b/c of the assistance I receive. Cut my SS, Medicare and housing assistance and I will be on the street.
Remember January 6? Imagine the Capitol Mall filled with elderly folks, disabled folks and Veterans. They'll have to storm the Capitol in wheelchairs, with canes & walkers. We know that won't happen so it's time for letter-writing and calling campaigns to one's Senators and Representatives.
@mariaxeniaallen, I've made that comment before. Every one of us using a rollator, wheelchair, other mobility assistance, plus hospital beds with healthcare nurses and doctors pushing the beds needs to be there. So many, we stop all traffic because we're moving slowly. We need to remove that FICA cap so everyone can retire comfortably and without fear of ending up on the streets. Stop taking money away from us and make the wealthy pay their fair share.
I'm finding it extremely hard to listen to Maya keep saying that she thinks that the DOGE folks seem really serious about finding places to cut. These are the same people who put way more thought into the acronym of their fake "Department" than even taking the most cursory of looks at what is really possible. She is encouraged that he has pared back his estimate from 2T to 1T, because she thinks now he has really looked into it. He was only off by 50% and that is encouraging? WTF is encouraging about that?
Also, I am extremely disappointed when she starts off the math problems by just rolling over on the fact that the new administration is going to extend the tax cuts for the top 1% like it is just a given and there is nothing to be done except for cutting benefits for the rest of us poor schlubs in the bottom. Get real!
She says we need to fix social security, but no mention of raising or eliminating the cap on contributions? This is the exact same set of plays that got us into this mess in the first place.
Fiscal responsibility needs to come from both ends of the equation. That is what she is saying, but not the path she is laying out for it to be accomplished.
I'm not being fooled by this doublespeak.
Look at it from her perspective: she's been lobbying for balancing the budget in Washington for decades. It's probably a lot like being Gloria Burgle in Fargo- sensor faucets don't turn on for you, automatic doors won't open, your cell phone garbles everything you say, you mysteriously don't appear on security video. She must find it refreshing that *anyone* is validating her existence.
I'm not even from the US and I couldn't believe Sarah had this interview- it didn't make sense to me.
@@lynxminx4 If you have been spending decades trying to get people to listen to you about balancing the budget, maybe you should look in the mirror and see if your message is flawed. Some of these people jump up and down about balancing the budget, but only focus on cuts. That is like trying to balance a see-saw by constantly adding weight to only one side.
If a bunch of whacked out edge-lord internet trolls are the ones that validate your theories, again I am inclined to believe that those theories are probably not very well though out.
@@makerbobdesigns365 No argument from me on any of that. Republicans have been aggressively cutting taxes for the past 40 years *in order* to shrink the government. They know they can't win a direct argument to end extremely popular programs and services like Medicare and Social Security and the USPS et al, so instead of owning up to their unpopular objectives they starve these programs of the funding they need to run, then point and say 'look, these programs are broke, they aren't sustainable, they are making us bankrupt, we have no choice but to end them'. They break the thing in order to complain that the thing is broken.
That said, there are some true believers out there and Sara and Maya are probably two. Anyone who earnestly believes we are going to be economically attacked by China if we don't balance our budget is probably not having a lot of luck getting meetings on the Hill. Trump relegated the domain to a couple of rich private sector nutcases for good political reasons.
Exactly! Take the tax cuts off the table, increase SS cap and reduce deductions for millionaires and billionaires! Why are they untouchable?!?!?
This is what I can never understand about "responsible" Republicans who NEVER think of raising taxes on billionaires but call for more cuts on Food Stamps.
School lunches after school programs for kids since both parents work there's a long list
The more they take from
Us the more they have for themselves
What is wrong with you people? Leave the working class alone. Do not touch S.S or Medicare, Increase taxes on the super rich and tax stock trades, problem solved.
Talk to republicans
That is what these two republicans are talking about, taking away social security which is an earned benefit.
Seriously!! This pisses me off so much! Why is it ALWAYS on the backs of the working class? THIS, if they implement it, will get people in the streets! ALL working class people UNITED to demand we get our flipping retirement money!
My husband turns 65 this year...still working and I'll be 62 this month, part time work.
@@neeleynonea
Why TF are so many surprised that they are incessant liars?
All the tax cuts for the rich all the way back through Reagan era and other incentives for the rich and corporate are why this country is so in debt not the people or the Social Security and Medicaid!!!
Excuse me the “right” thing is not to cut the money paid in by taxpayers for a specific purpose but to raise the cap and forget another tax cut for already rich people. In other words taking from the poor to make the rich richer is not a good idea. You can only push us so far.
I agree, I'm waiting for the magas to turn on their masters. Just a matter of time.
@connies8611 exactly and this lady is super casual about it. She's saying "let's take all the earned money away from these people, they're too small and unworthy, then we can have their money to pay off what we get away w on our taxes".
This conversation is so rich. Maya admitted there was an enormous 1 - 2 trillion in "tax code" meaning loopholes mainly for the wealthy. How about we start with fixing that instead of taking benefits from poor and elderly people? Then we could, heaven forbid, significantly increase the social security income cap so it can stay solvent basically forever.
Please, can the people, with their votes, demand less income inequality? Tax cuts for the wealthy is the last thing we should be contemplating.
Yeah, this is someone who has taken the step of faith required to believe neoliberal economic theory. Maya seems to think the emperor is wearing a delightful suit.
It is ridiculous to listen to those two. Republicans keep adding to the debt by giving tax cuts to the rich. Start with taxing the rich.
Thanks Fourth,
I've always thought we should flip the way SS is funded. Now there is no bottom, but a cap on income (WTF?).
We should flip it: Have a low ($40,000/yr ??) base that doesn't pay, but an unlimited top. And included ALL income types. That's one way the wealthy keep their low tax rates: it's not 'wages'.
@@johnr8252 ‚fiscally conservative’ to these two means cuts. Tax cuts for the rich and cuts in all government services that benefit the poor. And since that isn‘t enough they are also going for the middle class.
This interview is for all of the people who forgot Republicans are shitty people in general. MAGA has made them forget what was happening before Trump.
As an entomologist, I want to confirm for the Bulwark community that the mealworm mating laugh line is important agricultural food security research if you don't want infestations of bugs in your grains/cereals. Global losses to stored product pests is around $100 billion per year. A few thousand dollars invested in saving hundreds of billions over time is a great ROI. Also, mass producing mealworms as sources of protein powder in animal feed also requires research on efficient breeding of insects. In short, getting successful grant funding for ag research is hard. It requires convincing different groups of people that it is important, and in ag, also usually requires letters of support from commodity groups showing that the work will help them make/save money.
Thank you! We need MORE funding for both basic and applied scientific research. It's the fuel of progress.
Well this was cool to know. I honestly dont care about dropping money for these studies cause i dig it. But for people who think its a waste, they just dont get it.
Thank you for this insight!
You can not stabilize the debt and still support tax cuts.
You can when you eliminate Social Security and Medicare. Go MAGA.
Clearly!!!
Someone needs to explain - in financial detail, not just as bumper stickers - why: (1) why do we need to extend these ridiculous tax cuts for the wealthy at this time, and (2) why do they think they need further cuts in rich people’s taxes but need to sap low and middle income people’s Social Security and Medicare?
Bingo , basic math
If that’s the case… Then I want every penny I have ever invested in SS iover the last 45 years…With interest!
I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years in another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with Tracy Britt Cool Consulting my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.
< I know this FA you just mentioned. Tracy Britt Cool is a portfolio manager and investment advisor. She gained recognition as an employee of Berkshire Hattaway; a renowned investor she is. Ms Tracy has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.
The debt issue is less a spending issue than an income issue. Just think how much the Reagan, Bush and Trump tax cuts + the SS taxes cap have shortened the US finances. This is more than the current debt. Working people did not profit from these tax loopholes, only passive income earners did.
I went from no money to lnvest with to busting my A** off on Uber eats for six months to raise about $30k to start investing with Tracy Britt Cool. I am at $128k right now and LOVING that you have to bring this up here
Please how can I liase with this FA? I am seeking for a very effective investment approach for my savings which gradually depreciates in value due to inflation
Well her name is 'Tracy Britt Cool Consulting'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment
Tax the rich who can afford it. Cut the bloated military budget.
he's not going to cut against his own interests
Yup
At present with the war un Ukraine and war looming in the Pacific, it does not appear wise to cut on military spending right now. That being said,I think DOGE can do its most streamlining in the military: 700 U$D for a common torch comes close to corruption, IMMO.
@nicolaasstempels8207 nobody cares about the Pacific or Ukraine. We've been at war for our entire history. Our entire foreign policy is war. How about we take a breather.
@@czarevich that makes sense so no way Trump will do that.
Raise taxes on the super wealthy and mega corporations. It's very easy to say cut SS and Medicare/Medicaid when you work for a conservative, economic think tank and are extremely wealthy.
Eff off. This is a load of crap. The happiest countries in the world have robust, social programs and EVERYONE pays their share of taxes.
This discussion was repulsive.
How do we know these ladies are extremely wealthy?
We look them up. But I'm general, think tanks are lucrative.
Americans have fallen for the trickle down lie. If a person makes a million dollars in a year, their tax bill should be about half. Anything over one million a year the tax should be 60%.Anything above 5 million should be taxed at 90%
Raise the income cap on SSI taxes. Quit acting like it's not an option.
Increase taxes for rich & corps THAT'S OBVIOUS
thank u these ppl all say the same stupid right wing talking point raise the cap make the rich actually pay what they owe and move on
These corporations want to keep their workers poor and dependent.
Disappointing conversation
100 % agree with raising the cap on SS
Tax the damn rich, put the money in SS, Medicare, Education, etc… subsidies for the industries… stop doing cut taxes for the wealthy, and corporations. With all the deductions they get they end up paying nothing ! At least compared to ordinary citizens
Make billionaires pay in more. They get theirs up front. Tax em hard.
Most of them pay zero taxes. Make them pay, the same as the rest of us!
Right! They keep the wages so low people have to get government healthcare and food cards, while they are rolling in their profits!
In the 1950's top tax rate was 70%
Musk is on record saying that he should pay NO TAXES.
@@stevenbollinger9776There are something like 800 billionaires and 330M of us. It’s silly to think we can’t bend him to our will.
I can't even listen to this. Raise the SS cap, tax the rich, and stop worrying about balancing the budget. It's not even really necessary.
"he's a billionaire so he can't be bought " ~MAGA
it must be embarrassing to be so dumb
Do you think the wealthiest cabinet in history is going to work in your best interest? ALL HAIL THE ALOGARCHS.
They just won an election. They aren’t embarrassed at all.
He’s not on the take. He’s on the give.
Yes..His heartless words about the LA fires show how giving he is. Fellow humans need our caring and support, not babble on about divisiveness and fish.
His wealth can be taken away because of fines we could impose upon him. We also need to see what his taxes look like I’m sure he gets all kinds of breaks that are not legal. I would bet on that one.
How about not giving more tax cuts to the already insanely wealthy?
Leave my social security and medicare alone!! i paid in it for my entire life. Take it out of the freaking tax cuts that he's promising the wealthy. Take it out of the budget for defense
You hear these people? They're excited!!?? For 1 trillion in Musk cuts!? F the bulwark
Agreed. Military is a boondoggle
Lone Skum can cut it from the salaries of the millionaire Magagops in Congress who voted for T.H.E. Rump's tax cuts for millionaires and billionaires, and those like Margarine Tater Greens who got loans which they did not pay back during the pandemic.
@LazyEyePolitics ... yeah sometimes I really enjoy this channel and other times I want to chuck it out the window. This is one of those times.
It would be fixed overnight if we raised the cap. Just do it.
Sarah, read the comments on this one. Focus on this Group!
Katie Porter pointed out that Social Security has NEVER COME OUT of the Federal Budget -- $0 -- it's in a separate fund paid for by payroll taxes!! SO how does this "expert" think addressing Social Security problems will reduce the Budget??
Exactly
The ignorance if these “ experts” is shocking !
@@Kansor_the_Great that's spot on
She doesn’t. It’s what the republicans are talking about cutting.
Because politicians have been 'borrowing' from the Trust Fund for decades to hide their spending. I'm old enough to remember the SS 'lockbox' worked out in I think the latter part of Reagan's term that was subsequently demolished.
I think you are giving the DOGE guys way too much credit. They want to make changes for only those things that will benefit them and their companies. They don’t care about fiscal responsibility, they care about deregulation and making money off the American people.
Exactly she’s seeing it as hey they want to do what I’ve been saying for years but they want to do those things for very different reasons
Pay attention to what org this woman represents, and her words: she quickly glosses over cuts to veteran benefits, farm subsidies, healthcare, etc. There are other alternatives that include enforcing and creating corporate taxes. When she’s talking about taxes that need to “be addressed,” I guarantee that she’s talking about continuing to put that onus on the W2 employees.
She is a centrist, and at this point I am over centrists because they helped lead us to the cliff from which we are about to be pushed. Over it.
@@clow5517 Much worse than a centrist. She's for privatizing Social Security, so the rich can make even more money and charge you fees for managing SS!!! A total slimeball.
@@clow5517 I don't worry about labels. Centrist, conservative, progressive all have good and bad ideas. This is an idea with major consequences to the average American
What do you mean she "glosses over" them?
You don’t seem to understand this conversation based on your comment. Rewatch the video.
The only dollars I want to hear about are taxes on the wealthy. TAX THE WEALTHY!!! NOT THE POOR
Social security IS NOT A BENEFIT!
We paid for that shit - keep your hands off of it.
Musk and the rest cannot stop salivating and got their eyes on that ss money when they already have so much money they couldn't spend in lifetime its criminal. How much money do they need?
Not only are we paying into social security, it has a huge surplus. They are lying to us but some Democrats in Congress already told us what's up. They said SS and Medicare is solid with a solid surplus. The gas lighting by these right wing so call budget hawks is mind blowing.
Exactly. I was thinking if they want to cut it just give me back the money I've been paying for my whole working life.
Raise the cap on Social Security taxes.
Why is the Bulwark treating this like a legitimate thing? It's a joke, always was a joke, and always will be a joke. Asking the Billionaire who is in receipt of massive government funding to cut government funding to everyone else is a road to one hell of a dystopian landscape.
Okay but its not a joke, this shouldn't be seen as a joke. Someone eith so much power spreading misinformation and being unknowledgable of the government being friends with the president AND has influence IS NOT A JOKE. Thats not funny, its not a joke, joking to take away 2 trillion from the things that keep people alive is not a joke. Being able to see something as horrible as this as a joke means you should check your privilage
🎯💯
@kaitkat3034 Taking away money from programs that help people is not a joke. What is a joke is treating Musk, a person who doesn't have a clue about how government works and is interested in putting money in his pocket from government contracts will be responsible for a good outcome.
Do Sara and her guest actually think that Musk will reduce defense budgets when he makes so much ripping off the US government with his government contracts? They didn't speak about having the wealthy and corporations pay their fair share. There was only talk of cutting social security, medicare and veterans benefits. Do they really think that these billionaires are going to cut medical costs and tank HMO's?
Maya was a bit disingenuous. As of 2024, China owns 9.1% of our debt. US entities hold the most percentage of national debt. The fact that the debt is held in dollars is a significant point. The Fed could print more dollars and pay down the debt. That could weaken the dollar and cause inflation. It's a fall back position if China is a threat. China's economic situation is dependent on the soundness of the dollar. It's doubtful that China would tank its own economy.
This is the worst 180 on behalf of the Bulwark I never want to see again. U sound so bright and cheery discussing these cuts Sarah.
Plz turnaround...
It's who they are. Reagan Republicans who want to slash the government to nothing and give tax cuts to the rich. They're just sad trump is a buffoon who's damaging their brand.
Gotta' hand it to him, Elon is a master of efficiency: while it took at least a year for me to fully loathe Donald Trump's voice, I've come to loathe Elon's in a matter of just a few months.
When maga turns on him, he better have his rocket ready to skedaddle to mars
I seem to have reached that point for both in a matter of minutes......
😂😂 Same
How about in just a few seconds!!!!!!
They're coming up with every solution other than raising taxes on capital gains and corporate profits.
Social security does not come from the government. It comes from us. Government does not put money into that
Also, our taxes (certainly not the ones the wealthy don't pay) come from us, duh! The government income is our income transferred.
The goverment collects it and invests it in things like Treasury bonds. It needs to collect more from the rich.
YES they do. They put all the expenses involved in managing it. DUH!!!!!
It is an antiquated system. Upgrade the system to functional would be a start.@@lorijnash5582
That's paid for, too! It's taken out as the managing costs rise! No, the people pay for that! The people pay for everything! There would be no government without the people's money! Think about that!@@lorijnash5582
They don't want to cut the budget to decrease the debt. Just want to cut taxes for the rich.
Imagine thinking that an oligarch could solve a problem an oligarch created
O' sure' that's easy. He ACTUALLY pays his taxes and doesn't get welfare.
Done. Fixed it!
While his companies are getting contracts from several different countries and want to pay his employees little as possible.
@@pettespizzaparlor3245 he’s actually paid little to no taxes since 2013
Musk has paid at least $500 million in federal taxes some 2013. A lot, but only about 0.125% of his current net worth!
@gingerjohnson2845 I am shocked. SHOCKED!! I say. To learn this.
Yeah. If he would add to the total income of the federal government, the expenditure of the federal government wouldn't look so extreme.
(no, not shocked at all)
Maya's organization needs to change its name to "Committee for More Spending Cuts" because she's never admitted that Federal budgets have a revenue side.
Sarah, you cannot talk about Social Security for the simple fact is that’s not the government’s money. It’s our money and you can’t have it. They can have it. No one can have it. It’s ours and then it’s not an entitlement. It is a earned income.
Except that's not how Social Security works. The money I put in was long ago spent. Pretty soon the money younger people put in is going to me, to the extent there is anything left when it's my turn. So it's not MY money we're talking about; it's the money of working people contributing today. It's kind of a scam because the cap on social security taxes makes it highly regressive by nature. It's a tax and we should treat it as such by removing the cap and means-testing benefits. Elon Musk certainly doesn't need a social security check.
And the people we would depend on to make reasonable fixes are the ones that put iou's in the trust fund swearing they would repay out but now say no chance..
@@mikeduke1294 Lots of talk about touching the untouchables ! Yet, one of the excuses the guest and Sarah mentioned was the lobiests. The lobby groups will try to beef up their rich wealthy members. So, of course, they will use that as an excuse, and that goes directly into taxes. Taxes for the wealthy are one of the biggest reasons we are having these conversations yet DoJ is built from the wealthy so oh well forget that idea.
that's stupid. she didn't mean what you think. omg!!!!!!! She's right. It's too complicated to explain in layman's terms. FACT!!!!
It’s no more “ours” than any other federal money. That nonsense about a trust fund is just a fig leaf for the Ponzi scheme. Boomers win, everyone else loses. (I’m a boomer, BTW)
It starts with billionaires paying their fair share .Clinton did it and the economy still thrived
Love Bulwark crew but really frustrating that the focus on budget with “normal” Republicans is always on the spending side and never on the revenue side. Much of our debt is caused by inadequate or slashed revenue. Would really appreciate thoughtfulness about this. Really ticks me off.
So effing true!
Exactly!
No surprise
thanks for highlighting this- maybe they will talk about it! It would be great to see where things overlap and how they can meet up to get things taken care of!
I feel the same way
The guest doesn't seem to have any idea who Musk and Vivek really are. A government contractor (with the mentality of a hungry 13-year-old) and a medical fraudster are really going to do something serious? Waste of a podcast
Amen re waste of a podcast
So...veterans, elderly and disabled get the shaft and the rich who don't Need more money, get richer. Is there NO one in government who can see the trees for the forest, and come up with a way to work on the budget??
I know budget and tax cutting are the primary tools used by traditional conservatives. This woman is a well informed and thoughtful elucidateor of this position.
Unfortunately for capitalism, not just in the US but around the world the Conservative elements created a tilted playing field for the economy so that it now only benefits the very wealthy and powerful. This accounts for the massive wealth gap and destruction of entitlement programs. The insider trading by politicians, for which let's not forget, James Comey oversaw the imprisonment of Martha Stewart, is done openly and sanctioned by the law. This corrupts the system. Vast amounts of money are sloshing around in politics and in supposed courts of law, like the Supreme Court. Getting rid of for profit medicine and drug manufacturing would radically decrease costs to government. Raising taxes on the wealthy, tracking down the hidden wealth, off shore accounts, moving money around as Apple did to avoid paying taxes, would also improve our financial and possibly social stability. The idea that grifters like Trump, Ramaswamy ( who runs a drug grift company ) or Musk who has shown us his capacity to run a once successful buisness into the ground are not individuals who have any skill in righting the ship of America.
I'm concerned that given the powder keg balance in America fueled by disaffected vetrans who are arming and training for "The Final Battle" and the backroom fascists like J.D. Vance and the 2025 crowd we maybe about to revisit some very dark times.
As JVL likes to say
" Good luck America"
They cannot cut any more off of Social Security, I’m on disability and I get less than $20,000 PER YEAR. It’s unbelievable to me that anyone would think of cutting it. Wow
Me too!
Scary but true...just wait. Sorry for your condition.
Social Security has NOTHING to do with balancing the budget! It’s a completely payer sustained program. Currently, we have roughly 3 laborers funding every 1 recipient. Not sure why the keep trying to convince people that it’s got anything to do with the federal budget. I assume to continue stealing from it.
You really don’t want to scratch the surface too much in terms of their feelings on Social Security. Most people are horrified by what the libertarian heart really feels if clearly expressed, ie he’d be fine with you getting nothing and dropping dead. I hope he fails, but we all need to be clear eyed that he’d do that if he could snap his fingers and get what he wanted. It’s the entire problem and why the discussion in the video isn’t very honest. They are not going to propose things to make programs more efficient, they are going to propose cutting or eliminating what those programs do, which is a very different thing that will hurt real people if they get those changes through.
HE DO NOT CARE!!
How are we supposed to live without SSI and Medicare? My only source of income and medical insurance
Any time a “pundit” talks about cutting SS and Medicare from the budget, I immediately discount their “expertise”. Social Security is a separate fund that is does not add to the deficit.
Best comment!
I think they rob peter to pay Paul with social security
Bush borrowed 1.37 trillion from SS to pay for his war.
Exactly. MSM never mentions this fact.
Robert Reich does some excellent short videos on that,too.
Why is social security involved at all? SS contributes zero dollars to the deficit. The problem is that the arbitrary limit to the FICA tax is too low, it should be removed completely.
Social Security is NOT an entitlement. People paid into it. Unless the money is returned WITH INTEREST, that will not work!
Calling it entitlement is one of the worst things conservatives have done. And they also always cut and spend. They’ve been doing it since Reagan.
I wish that one of them would explaine how they save from something goverment doesn't contribute to. And as long as people work there is no bankruptcy of social security
If there were no tax cuts for the wealthy or a cap on the wealthy that keeps them from paying social security, there would be NO deficit.
Uhh, you just explained WHY it is an "entitlement" - people paid into it, and they are entitled to it, both legally and morality.
@@LisaStover-y2b Seems like the US GOV was running a pyramid scheme with social security.
This is honestly the worst bulwark thing I have seen. The republican roots are coming out. This conversation is downright gross.
💯
Musk is the PT Barnum of the Trump MAGA circus!
I thought Elon was Trump’s Court Jester.
After reading the book 48 laws of power, its very obvious Barnum is one of trump's idols. 🤠
Guess the 'clown car's is a Tesla.
The florescent make-up makes Trump the official clown. PT Barnum couldn't have been more right. In America, there IS a sucker born every minute. Otherwise, the Republican party would would fizzle and die.
Why is it that whenever they want to cut spending, it's always spending on services to the poor? Why do they never propose cutting spending on tax breaks for the super wealthy??
Ohhh! I know this one! It's because they own all the power and make all the rules...
one trillion in taxes on the rich, also not impossible
They mention the last time debt/gdp was this bad was right after WWII. The answer then? A marginal tax rate of 90% on the top 1%. And it stayed that way throughout the golden years of the fifties and early sixties.
I didn't hear anything about what the top 1% is going to do to help cut the budget. The top 1% will not have to worry about their medical care, food, lodging, or social security. I would like to hear from someone from the other side.
No to tax cuts for the wealthy
They are “quite serious”? These are the most unserious people in the world. The most they are going to do is what they always do; across the board cuts and tax cuts. The deficit will continue to climb like crazy.
How about raising taxes for anyone over 400,000 dollars to 39 %
You have to get rid of tax shelters for the very rich, also.
@@robynwells8249 I say... let them GO!
Even grubby Russian Oligarchs want to live/enjoy the luxuries America provides. So, where're they realistically gonna go?
They talk about cutting Social Security but never talk about lifting the income tax is capped at everything under $176,100. If they just removed that we could fund social security and medicare forever but we won't do that because our government is owned and controlled by those who make more than that.
I can help Elon - a tax on Billionaire income of 90% closes the gap to zero.
Yep. Hello, Sarah.
How can you have someone like this on saying to cut Social Security and veterans benefits. How about Elon’s trip to Mars. You anger me and will not watch your show again. Maybe you need to loose your damn money from no viewers. Maya is full of crap.
Remove the cap on SS tax! Largely solves the problem.
Exactly, rebalance the SS budget-unrelated fund with proper contributions from all earned dollars
The most sensible and obvious answer. The fact that this is not being discussed at length here speaks volumes.
WE bought that with our earnings.....S.S. & medicare is our earned retirement...cut the Congress people money/salaries.
Take the cap off of Social Security. That will help.
Agree 100%
Right! What ever happened to profit sharing?
Yes!
Sara, I am really disappointed that you did not push back with Maya on Social Security and Medicare. There are some very simple solutions (like raising the cap on income for one) that will shore up these benefits that were EARNED by every working American. I would like to see an entire episode dedicated to some of those solutions. Our members of Congress act like they have every right to do what they will with those funds including throwing millions of seniors into below poverty situations. That is just not right!
I wasn’t surprised at the end of the day Sarah is a republican she’s just not a trumper many republicans including in the house and senate have been saying this for years to cut ss and Medicare and they are talking about it a lot now that Trump is back
Talking about cutting Social Security and Medicare is more cruelty is the point. Lift the cap on income. People who make plenty of money and have investments have no idea what real life is like.
So raise the cap on the earnings in SS. Why are you two talking about cutting it.
The cap for payroll deductions is $150,000. When that was enacted that was a large salary. It is not now. Raise the cap to about $400,000 and that will generate a lot of money.
Raise the cap to it being no cap exists.
That would really solve problems.
😊😊
It's $175,000 in 2025. Forget a $400K cap. Every dollar earned should be taxed. Many wealthy people pay nothing because they don't earn wages. Let's look at that too.
No much higher.
Good segment, great guest.
Professor Scott Galloway nailed it saying that the current tax structure is the greatest transfer of wealth from the young to the old in history.
And from the middle class to the rich.
@joanfregapane8683 yes
Prof G. He has great podcasts out there.
social security,vets,medicare??how about not giving giving the rich anymore tax reductions get rid of their write offs and make them pay a higher rate than we do!
Giving credibility to Elon is never a good idea.
This video was maddening in the "sign or seriousness..." bs. STOP legitimizing Musk.
Have Trump stop charging the Taxpayers for his weekend golf games at his “for profit” private clubs. In 2017, he was on track to charge taxpayers $237 Million!
Guest said no one wants to talk about veterans' benefits. I wonder why?
These brave Americans went to war for their country. So now we back out of government commitments to them? Please.
That's the Stupidest yet
When discussing how to cut spending or lower national debt, soc sec should NEVER be part of it. Social Security adds NOTHING to the debt. We dont borrow any money to pay SS. Zero.
It's so misleading or a flat-out lie to suggest that Social Security "must be looked at" regarding cuts.
If the debt is the problem, the solution is to raise taxes on the wealthy. Cutting 2 trillion out of discretionary spending over ten years is more pain than this country is ready to absorb. And there would be nothing 'fiscally responsible' about stealing all of the money working Americans have paid into Social Security to ensure their own retirements and using it to pay down the national debt.
This is absolutely ridiculous The Simple Solution is to tax the rich they need to pay a proportional amount just like working class people do oldest gymnastics is completely unnecessary and it's all about enriching the rich and what is the real justification for that😊😊😊😊😊
The solution: pay more tax
Rich people: 🤢
Right! If it wasn't for the people working for them they would have nothing!
Social Security by law doesn't add to the debt or the deficit, it simply pays out what comes in and draws down from its trust fund.
Not many people noticed when Trump said that he couldn't bring down the prices of groceries and utilities because it was "hard". So much for that promise. Now Elon is pulling the same Trump. Like "I didn't really mean what I said".
Did you truly believe he would do it ??
Why are SS and Medicare always up for the chopping block, but billionaires need more tax cuts?
Why isn’t Elon reaching out to help those who lost their houses in Los Angeles
The MAGA mind virus has a hold on him.
So agree!
Because there's NO MONEY IN IT FOR HIM!
Cause he's not into doing good things for society. Remember, he's Dark Maga and definitely at least Dark.
He hates California and it's liberal, hyper regulating institutions stifling his companies. "No soup for you" California ...
Numbers are staggering:
Need $17 trillion in savings to balance the budget.
Need $9 trillion in savings to stabilize the debt.
Individuals and companies just paid millions each to buy a president, buy themselves government appointments, and encourage policies which harm the environment and promote climate change. The money is out there, and there are some who can afford to give a lot more.
Those numbers are - obviously, cartoonishly - WRONG.
So their plan is to raise taxes on the people who are ACTUALLY ALREADY PAYING THEIR TAXES LIKE THEY ASRE SUPPOSED TO SO PUNISH THEM MORE BY RAISING THEIR TAXES!! Abhorrent idea for sure! There is not
Way that BILLIONAIRES SHIULD BE IN CHARGE OF THESE DECISIONS
Tax the rich like we did in 50’s and 60’s. Get the debt down then we can relieve some of the pain. Healthcare would be cheaper if we did not have insurance companies and hospitals profiting through the roof, and pharma... healthcare for profit is a huge rip. FIX THAT!
If you cut Medicare and Medicaid you will be closing Hospitals all over rural areas in the US which is where DT's base lives. Already there are places in the US that Hospitals have closed and people live so they are now over 100 miles from a Hospital. Taxes have to be part of the issue but no Republican can ever vote to increase taxes. Perhaps Maya should talk to them first before she supports increasing poverty in the elderly.
Listen, what has President Trump been the best at doing in the corporate world? He's been best at declaring bankruptcy. I hope bankruptcy doesn't happen to the US, or can't happen, but what if it does? It would wipe the books clean, I suppose, but at what end result?
Ok now do an explanation of how this will affect the lower and middle class. Two rich ladies want to see budget cuts that won’t affect them adversely in the least.
I just watched Merrill Lynch’s 2025 outlook and they were very excited about corporate profits derived from “asset light corporations” and “high productivity” and AI because it reduces labor, aka eliminates workers.
This means the lower and middle class get to fight for scraps and support billionaire lifestyles.
This makes me angry and Musk convinced the workers that this would be awesome for them.
That's what pisses hard working people
I wonder if Sarah Tim or any of those guys ever realized that talking about cutting Social Security to fix a problem cause by rich people getting big tax breaks is why I don’t subscribe i.e. pay for the Bulwark videos. It’s pretty clear. They really don’t get it. And maybe it’s because they’re not old enough to reach the age where the body is broken and you really shouldn’t be working anymore. And the understanding that that age is different for everybody.
Start with rolling back the tax cuts for billionaires who can obviously afford to donate hundreds of millions to candidates to keep their tax cuts-so just repeal the damn tax cuts for Elon et al.
May I make some assumptions? If a large portion is cutting the number of federal employees, then you have to ask, will these former employees be in the unemployment category and drawing funds on state or federal unemployment funds?
She's not the sharpest is she, those "savings" will be funnelled straight to the billionaires in tax cuts, not to balance the books
People getting social security is not living high on the hog
Social security adds nothing to the national debt.
It actually does, through budgeting chicanery. Our government 'loans' money to the Social Security program through the Fed, and the loan amount is factored into our national debt figure even though we're also the creditor for those loans. For the past twenty years interest has been nearly zero, making this accounting even more absurd.
@@lynxminx4actually it’s vice versa… they dipped their hands in SS for the general fund.
@@gingerjohnson2845 Both things are happening. The income is being raided, and then to pay their obligations they take money from the Fed....and the Republicans get to say the program is insolvent.
@@edwardbrugel1631 It pays out more than it brings in, so yes it does.
The poor and middle class in this country have been bled dry for decades.
We, the indentured servants of America, have GIVEN the obscenely rich ENOUGH CHARITY.
Time for them to PAY the ACTUAL COST of their capricious dalliances , starting with the people whose labor & lives they STEAL.
Fiscal responsibility starts with actual responsibility: namely, that of the government to its citizens. As a former "fiscal conservative, social liberal" (a label that most accurately depicts a person out of tune with reality) one of the things I noticed among my peers was that they saw cuts as an end to themselves. Budget number go down? Virtuous. Who actually gets hurt? Irrelevant. I would rather run a deficit than make cuts that hurt the ordinary American while preserving the tax cuts, subsidies, and sweetheart deals that the government routinely gives to its donors. I'll believe that cuts are difficult when I see GOP and Dem donors getting pissed off about them.
Why do we maintain 800 + military installations world wide? Why does the pentagon build, own and maintain hundreds of golf courses? Why does the military have to waste every last penny or next years budget will get cut. If the air force needs new planes this year, give them the budget. If they don't need them next year, the budget should reflect that. I'm not anti military. My dad was in 30 years. Half my immediate family is retired military. I'm just a bystander and I can see the waste. Every few years a commission looks at military installations to determine which are necessary and which are outdated or unnecessary. Have any closed in the last 40 years? Not in my back yard says everyfuckingone while we bitch about the budget.
Get rid of income limits on SS taxes.
That would do it right there.
Raising the cap would address entitlements. Why is that such a problem?
Tell the rich we're either raising your taxes or we're going to draft your kids into the military.
Does this person know that Trump only reduced taxes FOR RICH PEOPLE last time around?
Since no Republican will ever vote for $0.01 increase in taxes this conversation is a waste of time.
Fiscal responsibility is a balancing act where both spending and INCOME (taxes and fees) have to be considered. Our taxes on the very rich and corporations are historically absurdly low. Tax cuts cannot be any part of budget exercises. Cynically unserious.