Quick quiz for you: Name any government, governmental organization or program, anywhere on earth, that is fully funded through 2034?
The U.S. Social Security program is capable of paying benefits at 100% through 2034 and at 79% after that without a change to the current funding plan. That means Social Security is sounder than even the U.S. military and will only ‘go broke’ if we force it. Moreover, it is the most successful anti-poverty program of all time and it contributes nothing to the deficit.
Over 65 Million Americans today depend on Social Security to enjoy a dignified retirement or to even survive. It seems that this is program that should be reinforced, not gutted.
But that is exactly what the House Republicans have proposed to do.
Along with Medicare and Medicaid, and despite assurances otherwise from Paul Ryan and Donald Trump; Rep. Sam Johnson (R-Texas), chairman of the House Ways and Means Committee’s Subcommittee on Social Security, released a plan Thursday to reduce Social Security benefits and make the program more of a means-tested safety net that aims only to provide basic support to the poorest retirees and disabled workers.
“Slashing Social Security and ending Medicare are absolutely not what the American people voted for in November. Democrats will not stand by while Republicans dismantle the promise of a healthy and dignified retirement for working people in America.” — Nancy Pelosi
During 2016, Bernie Sanders offered a plan to reinforce Social Security without reducing benefits– simply raise the cap on Social Security contributions. For most Americans that would mean a negligible or no change in their take-home pay. For those who earn the most, their contribution would still be tiny compared to their income, but it would insure than American seniors and the disabled would continue to live comfortably in retirement.
The alternative, without the earned benefit of Social Security, will be to trust the serendipity of the investment marketplace which has proven very unreliable for most Americans or to plan on working in minimum wage job until you die.
Once again, we have elected Republican politicians who say one thing and then quietly enact legislation that is exactly the opposite of their promise. Elected Democrats have virtually no means of stopping this initiative, but we do. We are the watchers and need to take a clear message to our elected representatives now:
Republicans promised to protect Social Security, but gutting it from the inside out makes no fiscal sense and will be devastating American workers and seniors. Please vote for raising the cap on Social Security contributions, making the program solid for future generations and the economic security of all.
WCD