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Seniors have earned their benefits and many don’t have much else to live on. For more than one-third of retirement beneficiaries, Social Security constitutes at least 90 percent of income. Half of people aged 65 to 74 have no retirement savings. Without Social Security, almost half of the elderly would live in poverty.
Generally, Social Security has been (effective) with other social insurance keeping senior Americans above the poverty rate. But, many seniors live extremely modestly, close to the poverty threshold
Monique Morrissey via Equal Voice.
Related Reading:
With people saving less and less for retirement, it’s important that Congress BOOSTS Social Security benefits for all American workers.
Americans made significantly less money in 2012 than in 2000. That decline, as disconcerting as it is, would have been more than twice as bad if it weren’t for three New Deal era safety net programs that largely offset falling wages and vanishing interest income.
via Al Jazeera.
(With people saving less for retirement, Social Security will be even more important for retirees which is why Congress should BOOST benefits for all working Americans)
Boomers are crowding the retirement turnstiles just as safety nets may get a haircut from a Republican Congress fixated on an Obamacare repeal that could whack Medicare and Medicaid. And although President-elect Trump has defended entitlements, a key advisor once called for privatizing Social Security.
However, some conservatives in Congress insist that relief for programs like the Older Americans Act be paid for by cutting Medicare and Medicaid. This budgetary sleight-of-hand could trade partial relief for some seniors’ programs by cutting other essential health security programs like Medicare and Medicaid, thus further eroding the tenuous economic situation many older Americans face.
Max Richtman via Huffington Post.
![Earlier this week, Members of Congress and allies met to discuss Social Security and the GOP Congress’ manufactured crisis.
““Seniors, I stand with you all the way [on Social Security].”
- Rep. Jan Schakowsky
“We are in a crisis right now. A...](https://64.media.tumblr.com/93d9258801da499ce7712598d0be22b4/tumblr_njo11hjqsI1qd3gmvo1_1280.jpg)
Earlier this week, Members of Congress and allies met to discuss Social Security and the GOP Congress’ manufactured crisis.
“Seniors, I stand with you all the way [on Social Security].”
- Rep. Jan Schakowsky“We are in a crisis right now. A retirement crisis. Not a Social Security crisis.” - Rep. Jan Schakowsky
“Stop manufacturing a crisis with the Social Security disability trust fund.”
- Senator Bernie Sanders“This week anyone earning a million dollars a year will have paid 100% of their payroll taxes for 2015.”
- Max Richtman
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.
What’s a bigger priority for Republicans to attack even than Obamacare? Social Security. They proved it Tuesday when they included a new rule in their rules package governing the 114th Congress that will prevent it from authorizing what has been routine reallocations of funds between the two Social Security programs, the retirement fund and the disability program.
via Daily Kos.
For years, seniors have told us that they need their Social Security benefits boosted. They want fairer cost-of-living adjustments (COLAs) that reflect retirees’ true living expenses. They say it’s time for the wealthy to start paying their fair share in Social Security payroll contributions. Congressman John Larson’s Social Security 2100 Act would achieve all of that – and more.
The bill would keep the system solvent for nearly the rest of this century while modestly boosting benefits – and cutting taxes for retirees. Not only do seniors and advocates support this bill, the American public has affirmed the proposals that it embodies in poll after poll, across party lines and age groups.
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ACTION ALERT!
While we all want good highways, Congress should not pay for them by cutting Social Security for seniors, people with disabilities and their families.
Call: 800-998-0180 to be connected with your Representative and tell them Social Security is not their ATM to be used for non-related legislation.