FDR’s grandson’s thoughts on Social Security today
It was the grandfather of James “Jim” Roosevelt, Jr. who created the Social Security program in 1935 that we all know. In this CNBC piece by Lorie Konish, she quotes the grandson, Jim. “My family considered my grandfather’s achievement in signing Social Security into law to be the most lasting thing that he had done in the four terms he was elected president.” Jim noted his grandfather wanted the original act expanded, it it has been gradually over many decades. Agricultural and domestic workers as well as disability coverage were added in the 1940s and 50s. In 1983 a bipartisan plan continued the solvency of Social Security for future generations. But the time has come to do it again. Jim Roosevelt has a preference for the Biden plan over anything President Trump has offered on Social Security. He is most concerned about elimination of the payroll tax, the main funding for the program. Read the full CNBC piece here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. Read AMAC’s plan here.