ThankProgress: 10 Things Progressives Can Be Thankful For

Following a long presidential campaign full of policy battles and disagreements, progressives have a lot to be thankful for this holiday season. Here are 10 things we can all celebrate:

We are thankful for the millions of Americans serving our country at home and abroad. This includes 1.4 million Armed Services members, 80,000 AmeriCorps members, and 8,073 Peace Corps volunteers and trainees, 6 million teachers and public school employees, 1.1 million professional and volunteer firefighters, and 22 million total public employees.

We’re thankful for Obamacare. After surviving dozens of repeal votes in Congress, the Supreme Court, and a presidential election, the Affordable Care Act is on track to extending insurance coverage to 30 million Americans and lowering health care spending. Millions ofseniors and young people have benefited from the law and inefficient insurers are distributing rebates to consumers.

We’re thankful for the social safety net. Nutrition assistance, welfare, unemployment compensation, Social Security, and other social programs keep millions of Americans out of poverty each year. Though the programs aren’t as robust as they could be, they help provide food, health care, and educational opportunity to America’s neediest families.

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Wishing the American People a Happy Thanksgiving

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Democratic Senator Introduces Bill To Lift Social Security’s Tax Cap, Extend Its Solvency For Decades

Social Security, the government entitlement that provides support to seniors in retirement, the disabled, and other Americans, has long been in the cross-hairs of budget reformers. The program’s trust fund currently won’t be spent out until 2033, and after that it would still pay 75 percent of scheduled benefits.

Most of the proposed solutions to the shortfall involve cutting back benefits and raising the minimum retirement age. Both are deeply problematic; at its current level of benefits Social Security kept over 20 million people out of poverty in 2011, many Americans in demanding manual labor jobs already take early retirement and thus reduced benefits as it is, and lower-income Americans have not particularly benefited from the average rise in lifespans .

This week, however, Sen. Mark Begich (D-AK) put forward a reform package that goes in the opposite direction, while still financially securing the program’s trust fund for roughly the next seven decades. The Washington Post’s Dylan Matthews laid out the details:

The Begich bill would lift the current payroll tax cap, which exempts wages in excess of a certain amount ($110,100 this year) from the tax. In turn, it would give high earners, who would pay more, additional benefits upon retirement, just as benefits increase as wages do for workers below the cap. […]

The Congressional Research Service ran the numbers back in 2010 and concluded that eliminating the payroll tax cap — while also paying out the new benefits to wealthier Americans in accordance with their new taxes — would eliminate 95 percent of the trust fund’s shortfall over the next 75 years.

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