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Stop Worrying About Social Security Going Broke

Christy Bieber explains one should not lose any sleep over Social Security going bankrupt.  It is not, as there will always be workers paying taxes into the system, just not enough workers.  Thus the program is headed for insolvency, but that is a bit different.  Bieber notes about 25% of Americans think they won’t end up getting any money from Social Security during their retirement.  But they really need to increase their retirement savings on their own, outside Social Security.  Because even full Social Security benefits are not enough to live well on, even now, and that’s before the predicted cuts in about a decade.  Full article 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.


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