A Simple Fix for Social Security? Hardly.
The problems and many of the proposed solutions to what ails Social Security have been known for years. In short, a demographic crisis of people living much longer coupled with smaller family sizes *hence fewer workers contributing) means Social Security is headed for partial insolvency in just over a decade. Fixes include raising more revenue (either hiking the payroll tax or increasing the current wage cap of $132,900) to cutting some benefits for well to do retirees to raising the retirement age gradually over time. Michelle Singletary discusses the problem and each of these solutions in this piece. She also asked a sampling of Americans to weigh in with their own thoughts, and many are included in the article. Read the full piece in The Washington Post here.
The Association of Mature American Citizens (AMAC) advocates for a strengthening of Social Security and has developed a bipartisan compromise bill, titled “The Social Security Guarantee Act,” taking selected portions of bills introduced by Rep. Sam Johnson (R-TX) and Rep. John Larson (D-CT) and merging them with the Association’s original legislative framework to create the new Act. AMAC is resolute in its mission to get the attention of lawmakers in DC, meeting with a great many congressional offices and their legislative staffs over the past several years. Learn more about AMAC’s Social Security Guarantee here…