JustCare

Category: Social Security

  • Beware of criminals stealing Social Security benefits

    Beware of criminals stealing Social Security benefits

    Many older adults and people with disabilities rely on Social Security as their sole source of income in retirement. Typically, Social Security deposits their monthly benefit directly into their bank accounts. But, Tara Seigel Bernard reports for the New York Times that last year 2,000 people found themselves the victims of criminals who diverted that money into their own bank accounts.

    The criminals change the bank account to which Social Security benefits are directed. And Social Security staff say that this is a common crime. Between 2013 and 2018, 21,000 people lost $33.5 million in Social Security benefits to criminals. The government was able to stop $23.9 million in attempted fraud during that same time. Between 2019 and 2023, 7,600 people let the Federal Trade Commission know that criminals had redirected their Social Security benefits.

    Don’t ever give anyone your Social Security number. Social Security will never ask for it. But, criminals call claiming to work at Social Security or a computer company, a bank, an insurance company, a credit bureau or a doctor’s office and persuade people to divulge personal information the criminals can use to steal their Social Security benefits. Criminals then break into people’s online Social Security accounts and change all applicable information so that the benefits go to their bank accounts.

    Criminals are also claiming benefits of people who have reached retirement age but have not yet claimed benefits.

    The Office of the Inspector General suggests that the online Social Security portal is not secure enough. People can verify their identity too easily. Social Security claims to be doing what it can, updating its systems, but the Office of the Inspector General says it needs to do more.

    Social Security does write people when there is a change to their account to ensure they authorized it. And, that has helped avoid a lot of fraud.

    Consider identifying someone you trust serve as your representative payee with Social Security. You might not need a representative payee now, but should you be unable to manage your Social Security account on your own, it’s good to have a representative payee in place. A power of attorney will not work with Social Security. You will need a representative payee.

    You can lock your Social Security account. Put an e-services block on your Social Security account. You will not be able to change any information you provided Social Security online, but neither will anyone else. If you do need to change something, you will need to reach out to your local Social Security office to do so.

    You can put a direct deposit block on your account to prevent fraud. Again, this will keep anyone, including you, from changing your direct deposit information online. If you do need to change something, you will need to reach out to your local Social Security office to do so.

    Never trust that a caller is from Social Security even if Social Security appears on your phone’s caller ID. If the caller presents some issue with your accountant, hang up and call Social Security directly at 1-800-772-1213.

    If you are scammed: Call the Federal Trade Commission at 1-877-IDTHEFT (1-877-438-4338) or contact them online here.

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  • Republicans support “backroom scheme” to cut Social Security and Medicare

    Republicans support “backroom scheme” to cut Social Security and Medicare

    Jake Johnson reports for Common Dreams on the Republican push in Congress for a “Fiscal Commission” and the Democratic pushback against it. Senate Finance Committee Chair Ron Wyden correctly calls the proposed Commission a “backroom scheme” to cut Medicare and Social Security.

    The House Budget Committee’s Fiscal Commission Act, which Republicans intend to link to a must-pass government funding bill, would allow Congress to cut “Americans’ earned benefits” behind closed doors, said Senator Wyden.

    Senator Wyden and the overwhelming majority of Democrats oppose the Commission. Wyden argues that Congress should be raising taxes to strengthen Medicare and Social Security: “Instead of trying to cut Social Security, Medicare, and Medicaid, Republicans should work with Democrats to ensure the wealthy pay their fair share, which would go a long way towards securing Social Security and Medicare long into the future.” Go, Wyden! (If only Senator Wyden would speak as fervently against the tens of billions in overpayments to Medicare Advantage plans, which is endangering Medicare as well.)

    The question now is whether the Democrat-led Senate will allow he Fiscal Commission Act to become law. If so, the Commission, a  16-person  panel, made up of members of Congress from the House and Senate and private sector influentials, would develop and vote on Medicare and Social Security policies that Congress would consider passing into law, with no amendments permitted.

    It’s no secret that Republicans want to privatize both Social Security and Medicare and cut spending, leaving older adults and people with disabilities at even greater financial and health risk than they already are. Republicans have no intention of enacting legislation that would raise revenue to strengthen these programs and never have. Indeed, Republican members voted against a change to the Fiscal Commission legislation that included this language concerning the work of the Fiscal Commission: It “shall propose recommendations to strengthen and secure Social Security” by “protecting Social Security benefits” and requiring the wealthy to contribute more to the program.

    Republicans also rejected the following proposed language about the role of the Fiscal Commission: It “shall propose recommendations to strengthen and secure Medicare” by “protecting the traditional Medicare program” and extending its solvency by “requiring taxpayers with incomes above $400,000 to contribute more” and closing a loophole that allows rich business owners to avoid Medicare taxes.

    It’s also no secret that Trump, if reelected, stands with these Republicans in Congress. “Donald Trump can’t hide from his own words: He told the American people four years ago that he would cut Social Security and Medicare if he ever got a second term in office, and has only doubled down on his pledge to gut these critical programs since then. After proposing disastrous cuts to Social Security and Medicare in every single one of his budgets as president, Trump is still running on the same out-of-touch plans that would threaten the pocketbooks of America’s seniors,” said Alex Floyd of the DNC.

    Republicans believe we spend too much money on Medicare and Social Security. But, they are not speaking out against the massive Medicare Advantage overpayments. Moreover, Social Security and Medicare Part A–hospital insurance–are self-funded. And, both Medicare and Social Security offer critical supports to the most vulnerable Americans. Without them, our government will endanger the lives of millions of our parents and grandparents.

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  • Republicans in Congress “outraged” by billions in Social Security overpayments to vulnerable older adults, silent about overpayments to insurers selling Medicare Advantage plans

    Republicans in Congress “outraged” by billions in Social Security overpayments to vulnerable older adults, silent about overpayments to insurers selling Medicare Advantage plans

    Kaiser Health News reports that Republicans in Congress are “outraged” by $20 billion in Social Security overpayments to vulnerable older adults. What no one has reported is the silence among Republicans in Congress about the hundreds of billion of dollars in overpayments over the last several years to insurers offering Medicare Advantage plans. Apparently, when the recipient of billions in overpayments is a big corporation that supports their campaigns, Republican policymakers can look the other way.

    These members of Congress want the Social Security Administration to answer for the Social Security overpayments. But, they don’t seem to want the Centers for Medicare and Medicaid Services to answer for the overpayments to insurance companies offering Medicare Advantage plans. Their silence suggests that they don’t seem to want the corporate health insurers to return the tens of billions of Medicare dollars they have received.

    Unlike the health insurers who have billions of dollars in their coffers to return the billions they were overpaid, a lot of the people who received Social Security overpayments are poor and no longer have the money they were overpaid. They can’t repay it.

    “The government’s got to fix this,” said Senator Sherrod Brown (D-Ohio). He chairs a Senate panel that oversees Social Security.  Senator Brown also has called for CMS to address the Medicare Advantage overpayments.

    Republicans in Congress are calling for a Congressional hearing and a fix to the Social Security overpayments but have been silent about Medicare Advantage overpayments. For example, Senator Rick Scott of Florida, who is a member of the Committee on Aging, asked about how the Social Security overpayments grew to $20 billion and wants someone to be held accountable “for, you know, messing this up.” He has never spoken about Medicare Advantage overpayments. let alone called for a hearing about them or questioned CMS for making them.

    Older adults are receiving overpayment notices from Social Security. They are losing sleep, unable to pay the money back. In one case, Social Security demanded a woman repay $5,575 in retirement benefits. It then stopped sending her checks in order to recoup the money. No one in Congress has suggested that CMS should withhold payments to Medicare Advantage plans to collect the tens of billions in overpayments CMS has not received back.

    Some members of Congress are calling for Social Security to stop trying to collect the overpayments from their constituents. It was not their mistake. But, again, few in Congress and no Republicans are calling on CMS to collect back overpayments from corporate health insurers, stemming from their overcharges.

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  • Congress must update insanely low asset limits for SSI benefits

    Congress must update insanely low asset limits for SSI benefits

    Today, U.S. Senators Sherrod Brown (D-OH) and Bill Cassidy (R-LA), along with Representatives Brian Higgins (D-NY-26) and Brian Fitzpatrick (R-PA-1), introduced the SSI Savings Penalty Elimination Act. 

    Social Security Works strongly endorses this important legislation and applauds its visionary cosponsors. The Supplemental Security Income program, a vital companion to Social Security, is a lifeline to millions of people with disabilities and seniors. Yet the last and only time Congress increased its stringent asset limits was forty years ago, in 1984. It is well past time that Congress update these limits, as the SSI Savings Penalty Elimination Act does.  

    As the name of the legislation indicates, the current, overly restrictive and out-of-date asset limits penalize savings. Even one dollar in savings above the limits of $2,000 for an individual or $3,000 for a couple results not just in the loss of SSI cash benefits but also can result in the loss of Medicaid, housing assistance, and other benefits. And the limits penalize marriage as well–married couples can only save three-fourths of the amount two individuals are allowed to save. Moreover, these stringent and intrusive limits are extremely costly for the Social Security Administration to administer. 

    Congress should immediately pass the SSI Savings Penalty Elimination Act into law. It should then eliminate the program’s other marriage penalties, as well as update and expand it in other ways.”

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  • Honor US workers, increase Social Security benefits

    Honor US workers, increase Social Security benefits

    On Labor Day, we celebrate the contributions of workers. The best way to honor those contributions is to increase their economic security. A key component of economic security is retirement security, which we can substantially improve by protecting and expanding Social Security for current and future generations of American workers.

    Social Security and Medicare are deferred compensation. Just as we earn our current cash compensation, we earn our Social Security and Medicare with every paycheck. Sadly, too often these earnings are inadequate.

    Today’s workers are facing a retirement income crisis, where too many will never be able to retire without drastic reductions in their standards of living. As traditional pensions continue to disappear, replaced (if they are) by riskier, less reliable, inadequate 401(k)s, Social Security is more vital to American workers’ economic security than ever.

    While President Joe Biden and Democrats in Congress want to protect and expand Social Security, Donald Trump and other Republican presidential candidates want to slash Social Security benefits—or worse.

    Social Security has many strengths. It is extremely efficient, secure, nearly universal, excellent for both long-term and mobile workers, and fair. Its one shortcoming is that its benefits are too low. By expanding those modest Social Security benefits, we are renewing our promise to workers and promoting the security of all American workers for generations to come.

    In recognition of Social Security’s increasing importance for workers and their families, several bills have been introduced during this Congress to expand Social Security’s modest benefits.

    Representative John Larson’s (D-Conn.) Social Security 2100 Act, which has over 175 cosponsors, would increase benefits across-the-board for all current and future Social Security beneficiaries. It would improve the annual Cost-of-Living Adjustments (COLAs) to better match the true costs that seniors face. The bill would improve benefits for widows and widowers, students, children living with grandparents, public servants, the most elderly Americans, lower-income seniors, those with disabilities, students, and more. And it pays for all of this by making the wealthy finally pay their fair share.

    Similarly, Senators Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) have introduced the Social Security Expansion Act. Their proposal would increase Social Security benefits across-the-board by $200 a month and update the way that COLAs are determined to better reflect the costs seniors and other beneficiaries face. Further, it would update and increase the minimum Social Security benefit and restore student benefits. Again, it would pay for all of these increases and restore Social Security to long-range actuarial balance by requiring millionaires and billionaires to pay their fair share.

    Additional bills that would make positive changes to Social Security have been introduced as well. All of these bills not only address our nation’s looming retirement income crisis, but other challenges as well, including rising income and wealth inequality. In fact, rising inequality has cost Social Security billions of dollars each year. Those are billions of dollars that should go to expanding Social Security.

    While President Joe Biden and Democrats in Congress want to protect and expand Social Security, Donald Trump and other Republican presidential candidates want to slash Social Security benefits—or worse.

    As president, Trump released budget proposals that would cut Social Security and Medicare every year he was in office. He even attempted to defund Social Security by threatening to eliminate the system’s primary dedicated revenue source, payroll contributions. And, after leaving office, he stated that Social Security cuts are on the agenda if he is elected to a second term.

    The other Republican presidential candidates are even more open about their designs on our earned Social Security. Former Vice President Mike Pence wants to raise the retirement age for younger Americans and privatize Social Security. Former New Jersey Governor Chris Christie also wants to raise the retirement age for Social Security, and he wants to subject our earned Social Security benefits to a means test, transforming them from deferred compensation to welfare.

    Florida Governor Ron DeSantis and Senator Tim Scott both supported Paul Ryan’s infamous Social Security and Medicare-cutting budget proposals when they were in Congress. Former South Carolina Governor Nikki Haley also wants to raise the retirement age and means test Social Security. Vivek Ramaswamy wants to get rid of civil service protections and fire 75% of federal employees. Imagine trying to get help from the Social Security Administration under a President Ramaswamy, with up to three-quarters of the SSA staff missing and out of action.

    This is a moment to build upon the legacy of President Franklin D. Roosevelt and the other founders of our visionary Social Security system, not a moment to undo the vast, essential gains to workers’ economic security represented by Social Security. The choice in the upcoming presidential election could not be starker.

    Every generation has built on the strong foundation laid down 88 years ago, when Roosevelt—and his Secretary of Labor, Frances Perkins (the first woman ever to serve in a presidential cabinet)—shepherded Social Security into law. Now it is our turn. Expanding Social Security is the best way to honor our nation’s workers in the Labor Days to follow this one.

    [This post was originally published in Common Dreams on September 4, 2023]

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  • Social Security turns 88 today; it’s time to expand its benefits

    Social Security turns 88 today; it’s time to expand its benefits

    On August 14th, 1935, President Franklin D. Roosevelt signed Social Security into law. Eighty-eight years later, our Social Security system is among the most successful and popular government programs in history. Nearly every worker pays premiums (Federal Insurance Contributions or FICA) for Social Security. In return, workers receive insurance benefits when they retire, become disabled, or lose a family breadwinner. Social Security is secure, efficient, and the most important source of retirement income for the vast majority of Americans. Social Security does have one major flaw, though: Benefits are too low.

    The average Social Security benefit is only $1700 a month — considerably lower than in peer nations. That is not enough for working families to enjoy a secure retirement or make ends meet when tragedy strikes in the form of serious and permanent disabilities or death. It’s not surprising that our nation is facing a retirement income crisis. Too many Americans fear that they must work until they die, because they will not be able to retire without a drastic decline in their standard of living. Expanding Social Security is the solution.

    Social Security Works was founded to fight the fearmongering about our Social Security system. Today is Social Security’s 88th birthday. 

    The good news is that Democrats have plans to expand our Social Security system. President Joe Biden ran on a promise to expand Social Security, and Congressional Democrats have introduced multiple bills to do so. One of these is the Social Security 2100 Act, which is sponsored by Rep. John Larson (D-CT) and co-sponsored by over 175 of his fellow House Democrats. Another is the Social Security Expansion Act, which is sponsored by Senators Bernie Sanders (I-VT) and Elizabeth Warren (D-MA).

    These bills, as well as numerous other expansion proposals, have much in common. They would keep Social Security strong for generations to come (averting the modest shortfall that some politicians have used as an excuse to demand benefit cuts). They would increase benefits for everyone, with additional targeted increases for low-income beneficiaries, family caregivers, the very old, and others. Additionally, they would update the annual cost-of-living adjustment to reflect the real expenses beneficiaries face and prevent benefits from eroding.

    These are common sense proposals that enjoy broad support from Americans across the political spectrum. Indeed, 83 percent of Democrats, 73 percent of independents, and 73 percent of Republicans want to expand Social Security and pay for it by making the wealthy contribute their fair share. Yet, not a single Republican member of Congress is signed on to a bill expanding Social Security benefits.

    We’ve gotten Republicans on the record―and helped defeat them when the public learns the truth.

    The truth is, Republicans in Congress support cutting Social Security and ultimately ending the program as we know it. This is laid out in the budget proposal from the Republican Study Committee (RSC), a group that counts about 70 percent of House Republicans as members.

    The RSC budget would raise the retirement age to 69, which is mathematically equivalent to a 13 percent benefit cut. It would also decimate middle-class benefits — benefits those workers have earned and paid for. The Republican goal is to turn Social Security into a flat, poverty-level benefit — so that it loses political support and can be destroyed.

    Nor is the RSC budget the only Republican plan to cut Social Security. Every major Republican Presidential candidate, including Donald Trump, is on the record supporting Social Security cuts. Republican politicians are ignoring the will of their voters in favor of protecting their wealthy donors.

    Republicans have also been waging a quiet war on the Social Security Administration (SSA), the agency that administers the program. Since 2010, largely-Republican controlled Congresses have slashed SSA’s budget by 17 percent — even as the number of beneficiaries grew by 22 percent. This has forced the agency to lay off thousands of workers, close field offices, and reduce hours.

    SSA needs adequate funding, and strong leadership. President Biden has nominated former Maryland Governor Martin O’Malley to serve as SSA Commissioner. Biden has also requested a ten percent increase in funding for SSA. The best 88th birthday gifts Congress could give Social Security are to swiftly confirm O’Malley and grant Biden’s funding request.

    Then, Congress should take up legislation to expand Social Security. If Republicans refuse, Democrats should make Social Security a major issue in next year’s election — and urge voters to support the party that is working to expand, instead of cut, their earned benefits.

    Social Security is the cornerstone for our nation’s economic stability. Together, we can build on that cornerstone and bring prosperity to everyone in this country!

    Here’s more from Just Care:

  • Dems launch attack ads against Senators Cruz and Scott for proposing to take away Medicare

    Dems launch attack ads against Senators Cruz and Scott for proposing to take away Medicare

    Axios reports that the Democratic Senatorial Campaign Committee has launched attack ads against Senator Ted Cruz of Texas and Senator Rick Scott of Florida for planning to take away Medicare. Cruz and Scott are the two Republican Senators whose seats are at risk in the 2024 election. And, when it comes to Medicare and Social Security, they can’t be trusted.

    Both Scott and Cruz have called for the end of Medicare in one form or another, as have most Republicans. For a long while, one of their goals has been to privatize Medicare and allocate a fixed amount of money to each person with Medicare that they can spend on their health care, “premium support”. Premium support policies would mean higher costs for older adults and less comprehensive Medicare coverage. People with Medicare who developed costly or complex conditions would likely either have to forgo care or pay for it themselves.

    The Democrats’ digital ads are designed to appeal to older Americans and call out Senators Cruz and Scott for being a “threat to Medicare.” The ads also attack Republicans more broadly for their positions on Medicare.

    Senator Scott has called for federal legislation that would have Medicare and Social Security go away after five years. In his words, “All federal legislation sunsets in five years. If a law is worth keeping, Congress could pass it again.” Given how difficult it is to pass any legislation in Congress, Scott’s policy proposal is a sure recipe to end Medicare and Social Security.

    It’s worth noting that Medicare Advantage plans already put Medicare on a dangerous trajectory, both from a sustainability perspective and from a coverage perspective. The HHS Office of the Inspector General has now twice reported that Medicare Advantage plans often inappropriately delay and deny care that Traditional Medicare would have covered. And countless agencies and organizations have found overpayments to Medicare Advantage plans are today more than $70 billion a year and growing, endangering the Medicare Trust Fund.

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  • 2023 federal spending bill promotes health and financial security of older adults

    2023 federal spending bill promotes health and financial security of older adults

    Dena Bunis writes for the AARP Bulletin on how the 2023 federal spending bill promotes the health and financial security of older adults, strengthening Medicare, Social Security and retirement savings.

    Expanded Medicare coverage: 

    • Telehealth coverage: The federal spending bill continues Medicare coverage of telehealth services for two years, through December 2024.  People in traditional Medicare and Medicare Advantage are covered for video and telephone visits while at home.
    • Hospital at home: In some cases, Medicare will cover care from hospitals in people’s homes, rather than at the hospital.
    • Behavioral and mental health: Starting in 2024, Medicare will cover a wider range of behavioral and mental health care providers, including intensive outpatient mental health services.

    More Social Security funding: 

    The Social Security Administration gets $785 million more for its operations.

    Social Security pays for itself. But, Congress has year after year failed to appropriate enough money from its Trust Fund to cover its administrative costs. As a result, customer service is underfunded. People must wait an average of 35 minutes to reach the Social Security Administration by phone. And, claims for disability benefits take significantly longer to be processed than ten years ago.

    This federal spending bill appropriates $14,1 billion for Social Security, which is 5.9 percent more than last year, though less than the $14.8 billion that the administration requested.

    Easier retirement savings:

    Secure 2.0 provisions in the federal spending bill make it easier for workers to get retirement plans and for older adults to have retirement accounts.

    • The spending bill raises the age at which people must take minimum distributions from IRAs and 401(k)s from 72 to 73.
    • The spending bill includes a new tax benefit for low and middle-income adults, effective 2027, that can lower their tax bills if they  contribute to qualified retirement plans. They can get a federal matching contribution of as much as $1,000.
    • The spending bill includes a new national database for to help people find retirement accounts from previous jobs.
    • In some cases, the spending bill increases contributions to 401(k) and 403(b) accounts beginning in 2025, for people 60 t0 63.
    • Reduces the time part-time workers must wait to join a retirement plan from three years to two years beginning in 2025.

    Here’s more from Just Care:

  • Republicans could hurt their prospects for controlling the Senate if they support cuts to Medicare and Social Security

    Republicans could hurt their prospects for controlling the Senate if they support cuts to Medicare and Social Security

    Ivana Saric reports for Axios that Republicans could be hurting their ability to take control of the US Senate in 2024 because of their stands on Medicare and Social Security. House Republicans’ support for major spending cuts of Medicare, Social Security and other benefits, are not popular with voters.

    There’s plenty of evidence from past Congressional races that voters tend to vote against candidates who seek to cut Social Security and Medicare.

    Still, Republicans in the House have obligated themselves to a balanced budget over the next decade. Since they won’t raise taxes, and they don’t seem to want to eliminate waste in Medicare Advantage or to permit Medicare to negotiate drug prices, it seems inevitable that Social Security and Medicare will be on the chopping block. Of course, they are saying that they won’t cut these programs.

    The Republicans can’t win on Medicare and Social Security, with a Democratic majority in the Senate and a Democratic President. So, it would be wise for them to hold off proposing Medicare and Social Security cuts for the moment. Instead, the Republicans might propose cuts to Medicaid and the Affordable Care Act, which are less politically toxic. Though, the public is not with them on cuts to the Affordable Care Act.

    Where are the battles? The Democrats will face competitive races in Ohio, Arizona along with 18 other seats. In West Virginia, Joe Manchin’s seat is on the line. In Montana, Jon Tester’s seat is on the line.

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  • 2023: Congress should scrap the Social Security cap

    2023: Congress should scrap the Social Security cap

    Today, people earning $1,000,000 this year received a late Valentine. They stopped paying into Social Security for the rest of 2023 because they had hit the $160,200 cap on payroll contributions, even though the vast majority of working Americans pay in to Social Security throughout the year. To bring fairness to Social Security payroll contributions, it’s time to scrap the cap.

    Social Security is the most successful government program in history, with overwhelming support from Democrats and Republicans alike. A 2017 Pew Research Center poll found that 86% of Republicans and 95% of Democrats supported keeping or increasing current spending on Social Security.

    In 2023, Americans with wages over $160,200 stop contributing into Social Security after they earn $160,200. (In 2022, the cap was $147,000.) Consequently, the small fraction of people earning more than $160,200 pay a lower tax rate for Social Security than everyone else. Someone earning $1 million a year pays an effective Social Security tax rate of only 0.8 percent as compared to most Americans who pay a Social Security tax rate of 6.2 percent.

    Today, more than nine out of ten Americans (94 percent) contribute all year long into Social Security. They bear a greater burden for contributing to Social Security than millionaires. Bottom line, everyone earning $160,200 and more makes the same Social Security contribution of $9,932 this year.

    If the wealthiest Americans contributed to Social Security throughout the year, just as other Americans, the Social Security Trust Funds would have $1.4 trillion more. Someone earning $5,000,000 this year would contribute $300,067.60 instead of $9,932.

    N.B. Social Security contributions are based on wage income. So, unless Congress were to change it to include unearned income, people with total earnings of $20,000,000, such as the CEOs of UnitedHealthcare, Centene and Cigna, still would not contribute their fair share, $1,230,067.60, since most of their income is not wage income.

    More than 18 percent of wage income is projected to not be subject to the Social Security tax over the next ten years. In 1983, 10 percent of wage income was not subject to the tax. As the gap between wealthy and poor has grown in the US, more income of the wealthy has been shielded from the Social Security tax.

    Social Security is a lifeline for most retirees and their families, providing critical retirement security, an average annual benefit of $21,924. It currently replaces about 40 percent of people’s pre-retirement income. Social Security’s importance is all the greater today as a retirement crisis looms. But, Social Security benefits have been shrinking relative to earnings.

    Social Security benefits increase with inflation overall. But inflationary adjustments have not kept up with the rise in health care costs facing retirees and others receiving Social Security benefits. Economist Dean Baker has proposed changing the formula for calculating benefits so that it is in line with expenses.

    We are the wealthiest nation in the world. We can afford to expand Social Security and increase Social Security benefits for low- and moderate-income workers. Eliminating the payroll tax cap so that everyone pays the same rate would extend the solvency of the Social Security Trust Fund significantly.

    This calculator from the Center for Economic and Policy Research allows you to see when people with different incomes stop paying into Social Security.

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