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Social Security Will Survive - A Reality Check
Russ Wiles updates his column here noting that reports and polls showing decreased confidence in Social Security are not entirely founded in reality. He notes that benefit cuts will indeed occur if no action is taken by Congress before 2034, the year the Trust Funds will reportedly be exhausted. But benefits do not disappear entirely, because there will always be people contributing through payroll taxes even while people are collecting benefits and living longer. He notes a number of personal actions workers can take now such as contributing more to their 401k plans to offset any reduced benefits they may receive later. Read more… The Association of Mature American Citizens (AMAC) has been actively advocating for a strengthening of Social Security. Most recently, AMAC 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 Washington, 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…
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