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Proposed “Cradle Act” would add to America’s retirement crisis
A Congressional bill known as “The Cradle Act” was recently introduced in Congress proposing to use future Social Security benefits to pay for parental leave earlier in life. The concept under the Act, is that parents could get early benefits during a parental leave, but would sacrifice benefits later in life when it became time to collect their Social Security. Essentially, time taken off for parental leave would be added to their “full retirement age”, in effect lowering their Social Security benefit amount later in life. In this Des Moines (IA) Register column by Social Security pundit Brenton Smith, the author opines that the proposed Cradle Act will only add to America’s retirement crisis. Click here to read more.
WHY DOES CONGRESS CONTINUE TO THINK TAKING FUNDS FROM SOCIAL SECURITY IS ALRIGHT??? THIS SOUNDS LIKE IT WILL END UP PAYING FOR THE UNDOCUMENTED TO HAVE BABIES!! I AM SICK OF IT CONGRESS NEEDS TO GET OFF THEIR ASS AND FIGURE OUT A WAY TO PAY SOCIAL SECURITY TRUST BACK ALL THE MONEY THEY HAVE STOLEN FROM ITS CITIZENS THAT HAVE PAID INTO IT THE MORE THEY STEAL, THE LESS THEY GIVE TO OUR SENIOR CITIZENS
Gloria:
Thanks for the message. The subject of funds being “stolen” from Social Security is a persistent charge that we hear routinely, and I need to explain that this is basically an “urban myth.” Although we here at the AMAC Social Security Advisory Service are not affiliated with the Social Security Administration (SSA), we do take these occasions to point out that no funds have been stolen from the Social Security Trust Funds, and that all revenue collected into the system is in fact accounted for. It’s a myth that’s so pervasive that we’ve heard many variations on where the “stolen” funds disappeared to, and we try to set the record straight whenever we can. One of our earlier publications might help put the matter in clearer perspective for you: https://socialsecurityreport.org/ask-rusty-raiding-the-social-security-trust-fund.
Again, thank you for contacting us!
Gerry Hafer
National Social Security Advisor
The AMAC Foundation
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