Worrying Trend, but Solution at Hand for Social Security - AMAC & gobankingrates.com
Georgina Tzanetos raises a serious concern about the health of Social Security. For the first time since 1982, Social Security’s investments have actually lost more than they have brought in. It’s a short piece that can be accessed here, but a solution to the long term problem of Social Security is also being proposed by the Association of Mature American Citizens (AMAC).
AMAC believes Social Security must be preserved and modernized. This can be achieved without a tax increase 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.