Sen. Sheldon Whitehouse (D-RI) has been busy lately hammering the “mega-rich” — i.e. the billionaire class — for currying favor with Supreme Court Justice Clarence Thomas and wrecking, in his view, the critical perception (and necessary reality) that the Supreme Court remains above extrajudicial influence.
It’s imperative that Americans believe their justice isn’t for sale, Whitehouse self-evidently asserts, and the recent revelations about Thomas and Justice Samuel Alito being the recipients of extremely generous billionaire largesse puts that critical belief in peril.
Did you think I’d show up to the hearing on Supreme Court ethics without receipts? pic.twitter.com/QjdF7T0rIl
— Sheldon Whitehouse (@SenWhitehouse) May 2, 2023
New revelations about the extent of Thomas’s luxury life style, indulged through the courtesy of various “mega-rich” benefactors, keep coming — and this free flow of money and gifts from billionaires to SCOTUS Justices represents a conflict of interest so acute that Whitehouse and other Democratic legislators are pushing laws that would require that SCOTUS be subject, like all other federal courts, to an enforced code of ethics.
Last, this mess might be so disgraceful that coming clean may not be survivable for them and for the Court’s reputation (huge complicity questions, going back to who knew about Scalia freebie hunting jaunts).
— Sheldon Whitehouse (@SenWhitehouse) August 10, 2023
The updated filings could be painful.
Whitehouse sees the current SCOTUS as “captured and billionaire-controlled.”
But the mega-rich in America — who have, as a group, never been richer — are doing more than merely damaging the fragile American justice system with their money, according to Whitehouse.
The mega-rich are also starving the Social Security system, according to the Senator, who says the ultra-wealthy’s contributions to Social Security are woefully incommensurate with their incomes.
Whitehouse describes the current rigged scenario like this:
“Most taxpayers pay Social Security taxes on all their income. But because of the Social Security tax cap of $160,200 in wages, wealthy taxpayers don’t have to pay tax on wages above that cap or on any of their investment income. Those making $1 million annually earned enough by February 28th to not have to pay any Social Security taxes for the rest of the year.”
That imbalance puts the whole Social Security system in unnecessary peril, Whitehouse asserts, proposing the Medicare and Social Security Fair Share Act, which would have those making more than $400K a year pay more — and also tax investment income to feed the fund.
Whitehouse says the bill would “ensure the long-term solvency of the Medicare and Social Security trust funds by reversing inequities in the tax system.”
Elsewhere, he phrases it this way: “My new legislation will safeguard seniors’ benefits for decades by simply making the ultra-wealthy pay a fairer share into these bedrock programs.”
Whitehouse also shared a post by the Senate Budget Committee that says: “The mega-rich—taking advantage of our rigged tax code—have avoided paying Social Security taxes on most income, threatening the promise of Social Security for future generations.”
The mega-rich—taking advantage of our rigged tax code—have avoided paying Social Security taxes on most income, threatening the promise of Social Security for future generations.
— Senate Budget Committee (@SenateBudget) August 9, 2023
By unrigging our system, we can safeguard Social Security benefits for ALL.https://t.co/27q8k7uK7e
