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Will Social Security Be There for Me?
Matt Montgomery of Money Matters has a stark “maybe not” to the question on whether Social Security benefits will be there. He notes that as long as workers contribute payroll taxes, benefits can be paid. But those born after 1968 are best advised to count on just 80% (or less) of their expected benefits. Montgomery explains why and what Congress should do to make the program whole in the full piece here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. 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 well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available 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.