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Thread: Let's Expand Social Security on its Birthday

  1. #1
    Taking A Stand!!!

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    Default Let's Expand Social Security on its Birthday

    Yes, let's. With our population aging and pensions disappearing, this is a big deal!

    Eighty years ago, President Franklin D. Roosevelt signed the Social Security Act into law, creating a national plan to provide economic security for American workers. Since then, Social Security has proven to be the most successful anti-poverty program in our history. Each year, Social Security lifts more than 20 million Americans - including a million children - out of poverty.
    A generation ago, American workers were able to draw from their savings, employer pensions, and Social Security benefits in retirement. Today, most working households have little or no retirement assets at all and many rely entirely on Social Security. And while employer-provided pensions are becoming a thing of the past, Social Security has become the one pillar of our retirement system that continues to work well. It is a universal, guaranteed source of income that workers earn and depend on when they retire. But it is simply not enough.

    Given these facts, we need a commonsense solution to strengthen and expand Social Security. The Safeguarding American Families and Expanding Social Security Act will do just that. First, the bill changes the benefit formula to increase benefits by about $65 per month. Second, it changes the way annual cost of living adjustments are calculated so that they better reflect the real costs that seniors face today. Third, it removes the wage cap on earnings - currently $118,500 - so that payroll taxes apply fairly to every dollar of wages earned, ensuring that everyone contributes their fair share.
    Let's Expand Social Security on its Birthday:P|:PSen. Brian Schatz
    Last edited by ABFwife; 08-15-2015 at 01:20 PM.
    Yankee likes this.

  2. #2
    Retired !

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    Default Re: Let's Expand Social Security on its Birthday

    Given these facts, we need a commonsense solution to strengthen and expand Social Security. The Safeguarding American Families and Expanding Social Security Act will do just that. First, the bill changes the benefit formula to increase benefits by about $65 per month. Second, it changes the way annual cost of living adjustments are calculated so that they better reflect the real costs that seniors face today. Third, it removes the wage cap on earnings - currently $118,500 - so that payroll taxes apply fairly to every dollar of wages earned, ensuring that everyone contributes their fair share.
    Yes ... Yes ... YES !

 

 

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