Tuesday, April 23, 2019

Social Security is Not Going Broke !

Donald Trump ran on a promise to protect our earned benefits. And yet, each budget proposal released by his administration reads more like a Tea Party wish list written by his Chief of Staff Mick Mulvaney: Massive cuts to Social Security, Medicare and Medicaid -- all to pay for Trump’s tax scam for the rich and corporations.
Today, the Social Security Trustees released their annual report, and instead of the need to cut our earned benefits, the report shows that when millionaires and billionaires pay their fair share, we can afford to EXPAND Social Security benefits for millions of Americans.
We have the evidence. Now it’s time for action!
The new report shows that:
  • Social Security has a large surplus―projected to reach roughly $2.9 trillion next year;
  • Social Security continues to be extremely affordable with less than one penny of every dollar spent on administrative costs (this is a fraction of what other industrialized countries pay for similar programs);
  • Social Security can pay out ALL benefits owed for the next 16 years―until 2035―at which point it can still pay 80% of benefits owed.
  • All we need is for millionaires and billionaires to pay their fair share and we can extend the lifespan of the trust fund and expand benefits for millions of Americans.
Right now, the average annual Social Security benefit is about $16,000. And the new Trustees Report confirms that expanding vs. cutting Social Security’s modest benefits is a question of values and choice, not affordability.
And yet, Wall Street, Republicans in Congress and their propaganda machine want us to believe that the only way to “save” Social Security is by raising the retirement age and cutting benefits.
Right now, Rep. John Larson’s Social Security 2100 Act has over 200 cosponsors in the House. And Rep. Larson has held several hearings on his bill.
With your support, we can pass this critical bill out of the House and get one step closer to expanding Social Security for millions of Americans.
Together, we’re telling Washington politicians where the American people stand: Expand, don’t cut, Social Security!
Thank you,
Alex Lawson
Social Security Works

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