Related Graphic:
For more news like this, please sign up for Your Morning Read by clicking here.
See more posts like this on Tumblr
#politics #wealthy #social security #entitlements #entitlement reform #one percent #retirement #retirees #retirement crisis #earned benefits #social insurance #p2 #older americans #elderly #retirement ageMore you might like
Asked Monday if the Trump administration would address “entitlement reform,” White House chief economic advisor Larry Kudlow said it will “probably” look at “larger entitlements” next year. Entitlement reform generally refers to changes or cuts to large government social programs such as Social Security, Medicare, Medicaid or food stamps.
via CNBC.
Related Reading:
Trump Advisor Re-Affirms Commitment to Cutting Social Security & Medicare.
- This aligns with comments from National Republican Congressional Committee chair, Rep. Steve Stivers, House Speaker Paul Ryan, and several other key GOP members about the need to pay for last year’s tax cuts by ‘reforming’ Social Security and Medicare. ‘Reforming,’ of course, means cutting and privatizing.
Social Security is indispensable for many of our nation’s retirees, who depend on the program for retirement security. But for the 65 million people on Social Security, there will be no annual raise in their benefits in 2016.
via NJ.com.
Related Reading:
No COLA Increase for Millions of Seniors.
No Social Security COLA Increase + Massive Medicare Hike for Millions.
Christie says it’s all about “fairness.” However, he proposes not a single dime of new revenue and has no problem with average Americans paying payroll taxes on all of their income while the wealthy do not.
via Entitled to Know.
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.
The political right has predictably pounced on the recently-released Social Security Trustees report to call for “entitlement reform” – code for cutting the program. Once again, they are using projections about Social Security’s long-term finances to justify raising the retirement age, reducing COLAs, and cutting benefits. This should not come as a surprise. In the wake of the Trump/GOP tax giveaway to billionaires and big corporations, prominent Republicans all but said that future retirees would be asked to pay the price.
Read the full blog post by clicking here.
President Franklin D. Roosevelt signed the Social Security Act on Aug. 14, 1935. Regular monthly payments to retirees began in 1940 and have continued ever since. But there have been several important adjustments to the program, including changes in the retirement age and increases in benefits to keep up with inflation. Here’s how the Social Security program has changed over 80 years…
via US News.
Related Reading:
“Using Social Security as Congress‘ ATM to fund unrelated programs takes earned benefits away from retirees, people with disabilities and their families already living on modest incomes,” the National Committee to Preserve Social Security and Medicare said.
via Washington Times.
Related Reading:
Any Congressional strategy that threatens America’s most successful retirement and health security programs and the average Americans who depend on them must be stopped. America’s seniors are grateful the Senate came to its senses and abandoned this approach.
If income inequality continues to grow, so too will the gap between wealthy and struggling retirees.
That’s the takeaway from a new report by the Urban Institute, a progressive think tank in Washington, D.C., and funded by the Department of Labor, which analyzed how rising inequality will shape the landscape of American retirement.
“People have this perception that with Social Security, retirement income is more protected from earnings inequality, when in fact that’s not the case,” said Damir Cosic, a research associate in the Income and Benefits Policy Center at the Urban Institute.
Social Security benefits, along with defined contribution plans and other retirement savings options, generally are tied to previous earnings, which are increasingly a story of imbalance.
via CNBC.
Stay on top of the issues by signing up for our free newsletter, Your Morning Read, by clicking here.
Retirement, Social Security and long-term care:
Amid doubts about the soundness of the Social Security system, most Americans reject the idea of reducing benefits for future retirees. When asked to think about the long-term future of Social Security, only 25% say some reductions in benefits for future retirees will need to be made, while 74% say benefits should not be reduced in any way.
via Pew Research.
Related Reading:
We believe Social Security benefits should be BOOSTED for all working Americans.
Sign our petition asking Congress to BOOST Social Security benefits for all working Americans by clicking here.
Fresh off passing massive tax cuts for corporations and the wealthy, Trump and congressional Republicans want to use the deficit they’ve created to justify huge cuts to Social Security, Medicare, and Medicaid.
As House Speaker Paul Ryan says “We’re going to have to get … at entitlement reform, which is how you tackle the debt and the deficit.”
Don’t let them get away with it.
Social Security and Medicare are critical safety-nets for working and middle-class families.
via Chicago Sun-Times.
We are keeping track of Members of Congress who voice their plans to target earned benefits and health care in 2018.
You can view the full project by clicking here.
