Four Democrats running for president pledged Monday to keep Social Security solvent for senior citizens by raising the income cap so wealthier Americans pay more taxes to support the system without changing eligibility requirements.
The 2020 hopefuls who participated in a forum sponsored by AARP Iowa and The Des Moines Register also supported adding a public option to the Affordable Care Act to expand coverage to more Americans but three balked at eliminating private insurance for those who prefer to keep their current health care coverage.
Former Vice President Joe Biden, New Jersey U.S. Sen. Cory Booker, former Colorado Gov. John Hickenlooper and Minnesota U.S. Sen. Amy Klobuchar also promised to pursue ways to force pharmaceutical companies to lower the prices of prescription drugs or come up with wages for consumers to strengthen their bargaining power in controlling a key area of health care costs.
via Sioux City Journal.
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Older Americans are the country’s largest voting bloc, but during the first four Democratic presidential debates, the moderators didn’t ask even one question about Social Security. This makes no sense.
How long do seniors have to wait until they hear the Democratic presidential candidates’ positions on Social Security during a primary debate? Older Americans are the country’s largest voting bloc, but during the first four Democratic presidential debates, the moderators didn’t ask even one question about Social Security. This makes no sense.
The father of Social Security is one of the most revered Democratic presidents. And yet not a single mention of the program during debates by the party of Franklin Roosevelt? The 63 million citizens who currently rely on their earned benefits to remain financially healthy want to hear the candidates answer at least one debate question – and provide some real answers. The next Democratic debate on October 15th provides yet another opportunity to raise this crucial topic.
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We have a new 2020 Election timeline which keeps track of Presidential candidates comments on Social Security, Medicare, and Medicaid.
You can view it by clicking here.
Four Democrats running for president pledged Monday to keep Social Security solvent for senior citizens by raising the income cap so wealthier Americans pay more taxes to support the system without changing eligibility requirements.
The 2020 hopefuls who participated in a forum sponsored by AARP Iowa and The Des Moines Register also supported adding a public option to the Affordable Care Act to expand coverage to more Americans but three balked at eliminating private insurance for those who prefer to keep their current health care coverage.
via Sioux City Journal.
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By pledging to fight efforts to “cut, privatize or weaken” Social Security, supporting expansion of the program, lifting the payroll tax and exploring a new COLA formula for seniors, the Democrats have tackled head-on the critical challenges facing millions of average Americans.
via Entitled to Know.
via twitter.
Related Reading:
Democratic Debates Must Include Social Security.
The National Committee hopes that all of the Democratic candidates favor revenue increases over benefit cuts, and are willing to support legislation like the Social Security 2100 Act. Rep. John Larson’s bill would keep Social Security fully solvent for the rest of the century while modestly boosting benefits, mostly by asking the wealthy to pay their fair share in payroll contributions.
74% of Republicans and 88% of Democrats agree that ‘it is critical to preserve Social Security even if it means increasing Social Security taxes paid by working Americans.’
Given Social Security’s importance to all Americans, you can imagine my surprise that none of the moderators in the first two rounds of Democratic debates asked a single question about it. Our nation faces a retirement crisis, with savings rates plummeting, pensions vanishing, and expenses in old-age soaring. 63 million Americans rely on Social Security today for basic financial stability, yet conservatives propose to cut future benefits. The father of Social Security is one of the most revered Democratic presidents. And yet not a single mention of the program during the first two sets of primary debates by the party of Franklin Roosevelt?
Many in the news media have bought into the narrative that “no one in Washington wants to talk about Social Security” because it is a politically sensitive issue. Maybe that’s one reason why they don’t ask the question during debates. This narrative holds that neither party is willing to address Social Security’s long-term future. Nothing could be farther from the truth. Democrats in Congress, including Representative John Larson (D-Conn.) and Senator Bernie Sanders (I-Vt.), have introduced legislation that maintains the program’s financial health for as long as most of us on earth today are likely to be alive. They achieve this mainly by insisting that the wealthy pay their fair share of Social Security payroll taxes. Congressman Larson’s bill, which has 210 cosponsors in the House, also expands benefits – and both bills provide for a more accurate and generous cost of living adjustment formula.
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Voters shouldn’t have to do a Google search to see where the candidates stand on an issue [Social Security] that can make the difference between financial stability and outright poverty in old age.
Something’s got to give.
Social Security paid out about $1 trillion in benefits to some 63 million people last year. Within a decade though, the number of recipients is projected to surge to 80 million. Recipients are also living longer. And yet slowing population growth means fewer younger workers are available to pay into the system—Social Security is based on payroll taxes, after all. This problem—not enough new workers—could be made worse by ongoing efforts by the Trump administration to curb even legal immigration.
Like I said, something’s got to give. It could be your future benefits: The administration warned last year that Social Security checks could be slashed 21% by 2034.
The fixes are painful. Republicans have long squawked about keeping taxes low—but cutting benefits. Democrats have taken the opposite tack: Preserving benefits—but raising taxes to pay for them. Pick your pain, folks.
via Market Watch.
