Social Security succeeds as an anti-poverty program
Maurie Backman points out in this article that 15.3 million seniors live above the poverty line thanks to Social Security income. But he also notes today’s workers are often overly optimistic about the amount of income Social Security will replace, as it is only about 40% of average earners’ pre-retirement income. Seniors will need roughly double that to live comfortably because Social Security only acts as a floor for poverty protection. To maintain the lifestyle many workers are used to during their working years will require significant retirement income outside of those benefits. Read full piece here.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.