Most Americans love Social Security. It is a national treasure that, increasingly, millions of older and disabled Americans and their families depend upon. A new poll from Data for Progress shows that more than eight in ten Americans are somewhat or very concerned that Social Security will not be able to pay out its full benefits. Not surprisingly, more than three in four Americans across the political spectrum strongly or somewhat support raising taxes on Americans earning more than $400,000 annually to pay for expanding and strengthening Social Security.
Social Security is government-required savings–an earned benefit supported through payroll contributions during your working life, which helps guarantee financial security during your retirement years and in other special situations, including long-term disability. Much like life insurance, you pay in, and it pays out.
Unlike other government benefits, Social Security pays for itself, including the cost of its administration. But, Republicans have tried to cripple Social Security when in power, for example, refusing to take money from its Trust Fund to cover the full cost of staff and local offices. Without enough funding, it becomes difficult for people to get their Social Security benefits.
Right now, Democrats in Congress want to expand Social Security, so that its benefits keep pace with cost of living increases. They want to raise taxes on the wealthy to make sure that Social Security continues to have the funding it needs to pay out full benefits for the next several decades.
Voters overwhelmingly prefer that Social Security benefits be expanded and that wealthy Americans contribute their fair share to ensure Social Security’s solvency. And, even though Social Security’s Trust Fund is designated exclusively for Social Security, Republicans want to raid the Social Security Trust Fund to fund their initiatives.
Marco Rubio is proposing to cut Social Security benefits in retirement in order to fund people’s parental leave, through his Providing for Life Act. His proposal would jeopardize people’s retirement security. Moreover, if the parent who took paid parental leave died before she became eligible for Social Security, the government would be able to claw back the parental leave payment from her family.
Americans are already struggling in retirement, with few retirement savings. Social Security is their lifeline. Costs are only rising. Rubio’s proposal jeopardizes people’s situation, reducing the amount of money they would be able to count on in retirement.
In 2005, under President George W. Bush, Republicans tried but failed to privatize Social Security. They know that Americans depend on it. Once again, they are trying to find a way to destroy its benefits, this time, by allowing people to take its benefits upfront. But, when Americans retire, Social Security would offer less financial security. If Republicans care about paid parental leave, they should pay for it through higher taxes on the wealthy or through an additional payroll contribution, not mess with Social Security and people’s retirement security.
Here’s more from Just Care:
- 2022 Trustees’ report on Social Security and Medicare shows slight improvements in their finances
- Social Security benefits need to increase
- 2022: What will your health care costs be in retirement?
- Expand Social Security, don’t means test it
- In the hands of Republicans, Social Security is at serious risk
..”Little Marco” isn’t the only threat, fellow Florida Senator Rick Scott submitted a platform proposal to Sunset Social Security as well as Medicare, Medicaid and severl other social programmes seniors and the disabled depend o to survive today.
Next is Mitt Romney who many regard as a “hero” when it comes to his opposing T****. However, when it comes to Social Security, he’s a bog “zero” with his “Trust Act, which would allow the (R)s t fast track cuts to Social security along with other social programmes behind closed doors in the proverbial “smoke filled room”.
True. the (R)S have been trying to gut or even eliminate Social Security altogether for a while. One of the major proponents was former House Speaker Paul “Lyin'” Ryan who actually said he wanted to gut it and other social programmes to pay for the big 2017 and future tax breaks to the wealthy and corporations. Of course he already had his as he benefited from survivors benefits when he was in college. This illustrates the “screw you” attitude of the (R)s.
These are the two most serious threats to the programme and others. however I’m sure many of those more !true believers in the Big Lie and QAnon faithful in the (R) party also have dastardly plans like reviving privatisation which would turn Social Security int a big 401k subject to the whims of the market while enriching wealthy fund managers with the money we put into it. Most 401ks have underperformed and some even withered when major investments tanked. With the rise of crypto, that makes this even a more dangerous prospect.
We need people to get out and vote no matter hos difficult it is ( thanks to all that regressive voting legislation passed by several (R) controlled states) as we are facing a political coup that has been for the last twenty or so months that could change the direction of this nation in a very bad way.. teh (R)s scream about a stolen election that never happened, but they are in the position to do just that in less than four months and again in 2024.
It Is About To Happen Here
Vote like your life, your future, and the future of this nation depend on it…because they all do.