The Social Security Expansion Act - Yahoo!
Without Social Security benefits, about 4 in 10 adults aged 65 and older would have incomes below the poverty line, according to official estimates based on the 2021 Current Population Survey. Social Security benefits provide at least 50 percent of older adults’ income, and for about 1 in 4 older adults, it provides at least 90 percent of their income. In the new legislative bill introduced by U.S. Rep. Peter DeFazio and U.S. Sen. Bernie Sanders, current Social Security beneficiaries or those who will turn 62 in 2023 would receive an extra $200 in their monthly check. Vance Cariaga discusses the Social Security Expansion Act and how it will affect Social Security beneficiaries. Read Mr. Cariaga’s article here…
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The Social Security Expansion Act is about the only way seniors and people with disabilities can got out of desperation of trying to survive without out enough money. This would bring these people to where they were before this recession.
Christopher:
Thank you for the comment. While we certainly understand your point, we encourage you to consider the precarious financial position that our country’s Social Security finds itself in today, and weigh what additional expansion might mean for the program’s future. Please check out the article posted yesterday by our colleague at AMAC Action for additional background on the solvency concerns we have. You can access that article here: https://socialsecurityreport.org/be-wary-of-social-security-giveaways-with-insolvency-coming//
As this article notes, the true solution is to undertake a complete reform of the program to ensure stability for generations to come. The AMAC Social Security Guarantee referenced in the article is intended to not only achieve solvency, but help improve benefits for lower earners. AMAC has been aggressively promoting this solution for many years in serach of lawmakers with the political will to effect change for improvement.
Gerry Hafer
AMAC Foundation, Inc.
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