Social Security is family security. Not only is it a retirement program but children and the disabled receive benefits too.
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Discussions about Social Security in politics and the media often focus on its role as a retirement program that provides vital protections to seniors. But the fact is that Social Security provides vital retirement, disability, and survivors’ insurance for all generations of Americans. In addition to significantly reducing senior poverty, Social Security is the nation’s largest children’s program and lifted 6.9 million Americans under age 65 out of poverty in 2014. And no generation has a greater stake in the fight to protect and expand Social Security benefits than today’s young workers, the millennial generation.
via Talk Poverty.
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There is a misconception that Social Security is just for “old people” when in fact, about 4.4 million American children receive approximately $2.7 billion in Social Security benefits each month because at least one of their parents is disabled, retired or deceased.
Learn more here.
Max Ritchman, President and CEO of the National Committee to Preserve Social Security and Medicare: “America’s seniors understand all too well that our nation faces a retirement crisis and improving Social Security benefits is vital to keeping millions from poverty. Rep. Linda Sanchez’s ‘Strengthening Social Security Act’ makes several important improvements for seniors by: phasing out the payroll tax cap so that the wealthy pay their fair share, creating a Cost of Living adjustment for the elderly and boosting benefits for all retirees including widows/widowers. NCPSSM strongly supports this legislation and applauds Congresswoman Sanchez for doing the right thing for America’s seniors and their families.”
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Social Security is also an important source of income for communities of color. African American parents are more likely than others to become disabled or die before retirement. African American children represent 12 percent of all children in the United States under age 18, but 21 percent of all children receiving Social Security benefits.
via Eleanor’s Hope.
The conservative argument that the retirement crisis is a myth has been based on the notion that Americans actually will have far more in retirement resources than they recognize — particularly that Social Security benefits will amount to a much larger percentage of workers’ lifetime income than has been assumed. Ergo, there’s no need to expand Social Security to give retirees more.
via Los Angeles Times.
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It’s no secret that American workers face a major retirement crisis. Wealth inequality and workplace changes mean more and more retirees have come to rely on Social Security for most of their income. But the average monthly Social Security benefit in Maryland is $1,472 — or roughly $18,000 per year, which is only slightly above the federal poverty line. And even with Social Security, some 7 percent of Maryland’s seniors live in poverty.
The good news is that Maryland workers can increase the size of their future Social Security checks by delaying retirement. Delayed claiming past the early retirement age of 62 results in bigger monthly benefit checks for life, and waiting until after the current full retirement age of 66 yields even greater gains — up to 44 percent more than early claiming.
But too few Marylanders are taking advantage of this “delay-and-gain” strategy, or are even aware of it. The average age for claiming Social Security in Maryland is 64 — two years older than the minimum, but early enough to be penalized with lower benefits, which are cut by roughly 6 percent for every year that they file for Social Security before the full retirement age.
Read our full op-ed by clicking here.
This week, the House GOP’s first order of business was to attack Social Security. They are doing their best to pit retirees vs. the disabled in an effort to cut Social Security benefits.
Read more here:
http://www.msnbc.com/rachel-maddow-show/warren-the-gop-inventing-social-security-crisis
Thank you to Occupy Democrats for creating this image!
Social Security faces a long-term funding shortfall, but not because its benefits are too generous. In fact, they’re modest, and reckless benefit cuts could significantly boost poverty – particularly among the elderly but also among younger adults and children – a new analysis of Census data by my Center on Budget and Policy Priorities colleagues Kathleen Romig and Arloc Sherman finds.
via US NEWS.
Related Reading:
- Parents Depend on Social Security for Their Children.
- Social Security is among the nation’s largest programs serving children. About 4.4 million American children receive approximately $2.7 billion in Social Security benefits each month because at least one of their parents is disabled, retired or deceased.
Social Security touches millions of workers’ lives who become disabled, and their families.
via Generations United.
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Parents Depend on Social Security Benefits for Their Children.
When a candidate promises to “save these programs for future generations” by raising the retirement age, raising the Medicare eligibility age, privatizing Social Security, changing the COLA formula and means-testing Social Security while exempting near retirees what they’re actually saying is: “We know seniors vote so we’ll protect them now and slash future benefits for their children and grandchildren instead.
via Entitled to Know.
Seniors rely on the mail for everything from bill paying to collecting #SocialSecurity benefits. We must #SaveTheUSPS! https://www.cbsnews.com/news/postal-service-louis-dejoy-delivery-10-year-plan/