Op-Ed: Social Security’s financial ills not resonating with voters - AMAC & The Heartland Institute
Brenton Smith of The Heartland Institute explains that Social Security’s problems did not make the top of voter concerns in 2022. His op-ed also covers how the program is funded, its long term problems, and the constitutionality question, which was settled by the Supreme Court the year the program was enacted. A dilemma that may be faced soon is whether to use general funds to shore up declining payroll tax revenue. This could change the very nature of how the program works, as it smacks more of welfare than an earned benefit or a social insurance retirement system. Read his full piece here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits. 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 research. One component is Social Security PLUS, a voluntary plan to allow all earners to have more income 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.