26 Aug Social Security: America’s Proven Answer
By Tom Bird, President of Nevada Alliance for Retired Americans
When Social Security began, around half of our nation’s seniors lived in poverty. According to the Center on Budget and Policy Priorities, Social Security keeps over 20 million Americans, including more than 14 million seniors, above the poverty line. Social Security helps seniors, people with disabilities, widows, and children who have lost a parent.
Billionaires pay a lower percentage of their income in Social Security payroll taxes than middle-class workers. Congress should scrap the payroll tax cap and require all beneficiaries to pay their fair share by making all wages contribute to Social Security and eliminate the cap, currently at $118,500.
As a retiree, it bothers me when people think that Social Security is a handout. The truth is, we paid for our benefits every day we worked. All funds come from workers’ wages which are matched by their employer; no funds come from the general fund.
Social Security has not contributed a penny to the federal deficit.
With pensions disappearing; the middle class shrinking, and wages stagnant it’s harder than ever to save for retirement. Social Security is America’s proven answer. This year, during Social Security 81st year, let’s work together to ask Congress to strengthen it.