Progressive groups welcomed President Barack Obama’s call to expand Social Security by increasing taxes on the wealthy, praising the effort and crediting it in part to “relentless grassroots activism” and Bernie Sanders’ political efforts.
During a speech on economic policy in Elkhart, Indiana on Wednesday, Obama announced, “We can’t afford to weaken Social Security. We should be strengthening Social Security. And not only do we need to strengthen its long-term health, it’s time we finally made Social Security more generous and increased its benefits so that today’s retirees and future generations get the dignified retirement they’ve earned.”
“We could start paying for it by asking the wealthiest Americans to contribute a little bit more,” he said.
The sharp leftward turn follows a prolonged battle between the president and progressive lawmakers and groups over Obama’s 2013 proposal to reform Social Security with a controversial formula known as “chained CPI,” marketed as a compromise with Republicans, which would have reduced the annual growth of retirement benefits relative to inflation.
Thanks to a furious response from the left—which included promises to unseat Democrats who supported it—Obama dropped the unchained CPI provision the following year.
On Wednesday, many of those same groups applauded the turnaround.
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