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Thu Jun 27, 2013, 05:09 AM

Here's a Bright Idea: Let's Expand Social Security

In a Progressive Leaders Forum Town Hall meeting that will air Wednesday on SiriusXM 127's "The Agenda" radio show, Sen. Tom Harkin (D-Iowa) joined Nancy Altman of Social Security Works, Edward Coyle of the Alliance for Retired Americans and host Ari Rabin-Havt to discuss the future of Social Security, including Harkin's proposed legislation that would expand Social Security benefits. The Strengthening Social Security Act of 2013 (S. 567) would raise the monthly Social Security benefit by about $65 and would measure inflation not with the chained CPI (a benefit cut), but using a more accurate measure of inflation for seniors (the CPI-E). The CPI-E would increase COLAs. The bill also would eliminate the Social Security tax cap so the wealthiest people would pay the same rate the rest of us pay. Under this bill, Social Security would be able to pay out full benefits to the year 2049.

Social Security should not be part of any deficit reduction debate, says Harkin. But Republicans are injecting Social Security into those debates because they want to cut the program—even though Social Security adds nothing to the deficit.

Nothing contributes more to keeping the middle class out of poverty than Social Security, Harkin says. The real solution to strengthen Social Security funding for the long term is to make sure the wealthy pay their fair share. The future projected Social Security shortfall is very manageable, Altman says, but an enormous amount of money is being spent in an effort to privatize the program so Wall Street bankers can profit from seniors' retirement funds.

http://www.aflcio.org/Blog/Economy/Here-s-a-Bright-Idea-Let-s-Expand-Social-Security

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Arrow 9 replies Author Time Post
Reply Here's a Bright Idea: Let's Expand Social Security (Original post)
Sherman A1 Jun 2013 OP
newfie11 Jun 2013 #1
forestpath Jun 2013 #2
DeeDeeNY Jun 2013 #3
B Calm Jun 2013 #4
SamKnause Jun 2013 #5
deutsey Jun 2013 #6
Sherman A1 Jun 2013 #7
deutsey Jun 2013 #8
Sherman A1 Jun 2013 #9

Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 05:53 AM

1. Sounds great

That means the idiot congress won't consider it.

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Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 06:01 AM

2. K&R

 

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Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 07:20 AM

3. Eliminating the tax cap makes so much sense

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Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 07:26 AM

4. Eliminate the Social Security tax cap makes sense!

 

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Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 08:01 AM

5. Social Security

This great idea would only work if the U.S. had a functioning government.

The U.S. has a corrupt corporate controlled government.

They are not interested in strengthening Social Security.

They are only interested in syphoning the dollars out of Social Security to enrich themselves.

I do not know why people keep pretending that our government represents 'we the people'.

All branches of our government have proven time and time again they work for corporations.

Politicians and the Supreme Court put the wants of corporations above the needs of 'we the people'.

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Response to Sherman A1 (Original post)

Thu Jun 27, 2013, 08:16 AM

6. Our wealthy overlords wouldn't like that n/t

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Response to deutsey (Reply #6)

Thu Jun 27, 2013, 08:57 AM

7. One suspects that you are correct,

even if it would in the long run be in their own best interest to do so as it would mean more money to spend on the goods & services provided by those wealthy overlords.

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Response to Sherman A1 (Reply #7)

Thu Jun 27, 2013, 09:45 AM

8. That's what gets me

They benefited from New Deal policies because it improved the lives (and finances) of so many people.

Then the "greed-is-good" Reagan era came along and it was all about stuffing as much as you could grab into your offshore accounts while letting the country go to hell.

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Response to deutsey (Reply #8)

Thu Jun 27, 2013, 10:52 AM

9. Precisely

I guess when the 1% have all the money (and everyone else is starving or already starved), they win?

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