President Obama stepped up efforts this week to cut Social Security benefits and lower payments for disabled veterans and their survivors. Obama doesn’t say so directly. Instead, the White House talks in lofty terms about a “grand bargain”  with Republicans in Congress. They use inside-the-Beltway jargon to talk about something they call a chained CPI. In plain English, it would change how inflation is measured in a way purposely calculated to cut annual cost-of-living adjustments for retirees and veterans. Sen. Bernie Sanders on Friday called it “a bad bargain” and a “horrendous” idea. In television interviews, he explained how the president’s proposal would really work and how it would hurt retirees, widows, orphans, disabled veterans and their survivors.

Sanders has a better idea how to make Social Security strong for decades to come. He would apply the Social Security payroll tax to income over $250,000 so millionaires and billionaires pay the same payroll tax rate on all their income as almost every other worker in America. He got the idea, coincidentally, from Barack Obama. In 2008, Obama advocated the same thing during his first campaign for the White House. Sanders on Thursday  introduced Obama’s good idea as a bill (S.500) in the Senate. The legislation was co-sponsored by Senate Majority Leader Harry Reid. Rep. Peter DeFazio introduced a companion bill in the House.

Watch Thomas Roberts’ Friday interview with Sanders

Watch Ed Schultz Thursday interview Sanders

Watch Sanders and DeFazio at a news conference on their Social Security bill

Watch Obama’s good idea in 2008

Read more from the Center for Economic and Policy Research about the “chained CPI”