Callie Barr on Social Security, Lowering Costs and Northern Michigan’s Recovery

So this is something that we have to we have to fix.

We've got folks that have paid into this their entire lives.

We have the oldest congressional district in Michigan, here in Michigan 1, so the whole UP, top of the MIT.

And this is often the only source of retirement income for folks here.

And this will be insolvent in 2032, as you noted.

And what we'll see is about a decrease of $500, give or take a month, for folks that rely on Social Security every month.

And so what we need to do is just make this Um, fair.

And that means that removing that cap.

So currently at around $182,000, a hundred thousand dollars, folks no longer pay into social security.

And, and so what we need to do is just say, no, you just, you pay into social security on your, on your income.

Most Americans pay into social security on a hundred percent of their income, right there.

They pay into that.

Um, and when we look in, for example, in 1982, When they were looking at how to keep social security solvent, they operate in about a 70 year budget plan.

What they did not account for was a massive increase in wealth growth that would occur with the very top, about 5% of Americans because of the Reagan era tax cuts, which meant that wealth accumulation did not accrue, um, across, uh, most American right across the middle class.

That's not what happened.

And so there was wealth that accrued at the very top 1% that was never then brought to account for Social Security, right? And so what we need to do is just make it fair.

And so you mentioned that cap.

So people would be paying, if they make, I think you said, over $100,000, they'd continue paying in for that amount.

$182,000.

So most people do not make $182,000 a year.

I actually think it's $182,500.

Most folks don't make that, and definitely not in this district.

So for most people, if you make less than that, You are being taxed.

You're putting into Social Security when you work.

You're putting into Social Security.

So this is something that we have to we have to fix.

We've got folks that have paid into this their entire lives.

We have the oldest congressional district in Michigan, here in Michigan 1, so the whole UP, top of the MIT.

And this is often the only source of retirement income for folks here.

And this will be insolvent in 2032, as you noted.

And what we'll see is about a decrease of $500, give or take a month, for folks that rely on Social Security every month.

And so what we need to do is just make this Um, fair.

And that means that removing that cap.

So currently at around $182,000, a hundred thousand dollars, folks no longer pay into social security.

And, and so what we need to do is just say, no, you just, you pay into social security on your, on your income.

Most Americans pay into social security on a hundred percent of their income, right there.

They pay into that.

Um, and when we look in, for example, in 1982, When they were looking at how to keep social security solvent, they operate in about a 70 year budget plan.

What they did not account for was a massive increase in wealth growth that would occur with the very top, about 5% of Americans because of the Reagan era tax cuts, which meant that wealth accumulation did not accrue, um, across, uh, most American right across the middle class.

That's not what happened.

And so there was wealth that accrued at the very top 1% that was never then brought to account for Social Security, right? And so what we need to do is just make it fair.

And so you mentioned that cap.

So people would be paying, if they make, I think you said, over $100,000, they'd continue paying in for that amount.

$182,000.

So most people do not make $182,000 a year.

I actually think it's $182,500.

Most folks don't make that, and definitely not in this district.

So for most people, if you make less than that, You are being taxed.

You're putting into Social Security when you work.

You're putting into Social Security.