Social Security, Medicare and the GOP Congress
The Senate’s new majority leader has been true to his word…Mitch McConnell still won’t talk about his plans for Social Security and Medicare, even now that he’s been re-elected and will serve as the new leader of the Senate.
However, House Speaker John Boehner has no problem laying out the GOP plan. There are no real surprises here, it’s basically the GOP/Ryan Budget version 4 (or 5, we’ve lost count) which has only avoided full passage because of the formerly Democrat-controlled Senate. As usual, lowering corporate tax rates while cutting Social Security and Medicare are items #1 and #2 of the GOP 5 point plan. Lower taxes for businesses, Couponcare for seniors and raising the retirement age for Social Security are now back on the table with the Republican-led Congress.
Is anyone really surprised?
New Video: “Eleanor’s Hope” for Social Security & Medicare
One in three women are living in or near poverty. Older women face poverty in far greater numbers than older men. The National Committee’s “Eleanor’s Hope” initiative, named in honor of First Lady Eleanor Roosevelt, will raise awareness, recruit and train new activists and bolster Congressional leaders who are making a difference on women’s health and retirement security issues.
As part of Eleanor’s Hope, we’ll advocate for legislation in the new Congress that addresses the inequities threatening millions of retired women and work to elect lawmakers who share our vision of retirement equity for women. Take a moment to watch our video…and share with your friends.
Trying to Have it Every Way on Social Security
It’s been an interesting couple of weeks in Kentucky as Senate Minority Leader Mitch McConnell voluntarily and unexpectedly reminded voters of his support for privatizing Social Security.
“After Bush was re-elected in 2004 he wanted us to try to fix Social Security,” said McConnell. “I spent a year trying to get any Democrat in the Senate – even those most reasonable Democrat of all, Joe Lieberman – to help us.” Senator Mitch McConnell
Naturally, the next question from reporters was whether voters should expect the senator to push Social Security privatization after the midterms, McConnell replied, “I’m not announcing what the agenda would be in advance.”
In other words, vote for me now and afterwards I’ll tell you my plans for the nation’s largest and most successful economic security program.
Seriously?!?
The Social Security Disconnect Between Congress and Everywhere Else
It’s that time of the year (just days before Election Day) when every Congressional candidate extolls the virtue of Social Security. Too many of these 
candidates will then return to Congress (with your vote) singing a different tune lamenting that America simply “can’t afford entitlements” like Social Security and Medicare. Only after Election Day will you discover that “save” actually means “slash” and “protect” means “privatize.” They’ll claim your benefits must be cut or programs privatized to “save” the programs for future generations. The problem is…that’s simply not true and the American people of all political parties, ages and incomes don’t believe that cutting benefits is the best way to strengthen Social Security.
This Social Security disconnect is illustrated in a big way in a new report released today by the National Academy of Social Insurance. “Americans Make Hard Choices on Social Security” shows that Americans’ support for Social Security is unparalleled and they are willing to pay more in taxes to stabilize the system’s finances and improve benefits. We highly recommend you read the entire study (it’s important!) but here are some key highlights:
To gauge Americans’ policy preferences, the survey used trade-off analysis — a technique that is widely used in market research to learn which product features consumers want and are willing to pay for. The trade-off exercise allowed survey participants to choose among different packages of Social Security changes. As lawmakers would do, they weighed how each policy change would affect workers, retirees, and the program’s future financing gap, and then chose among different packages of reforms.
Seven out of 10 participants prefer a package that would eliminate Social Security’s long-term financing gap without cutting benefits. The preferred package would:
- Gradually, over 10 years, eliminate the cap on earnings taxed for Social Security. With this change, the 6% of workers who earn more than the cap would pay into Social Security all year, as other workers do. In return, they would get somewhat higher benefits.
- Gradually, over 20 years, raise the Social Security tax rate that workers and employers each pay from 6.2% of earnings to 7.2%. A worker earning $50,000 a year would pay about 50 cents a week more each year, matched by the employer.
- Increase Social Security’s cost-of-living adjustment to reflect the inflation experienced by seniors.
- Raise Social Security’s minimum benefit so that a worker who pays into Social Security for 30 years or more can retire at 62 or later and have benefits above the federal poverty line.
Again, not only do Americans value Social Security they are willing to pay to sustain and improve it. This package was preferred by large majorities across political parties and income levels. 68% of Republicans, 74% of Democrats, and 73% of independents favored this no-cuts plan, as do 71% of study participants with incomes above $75,000 and 68% of those with incomes under $35,000.
We suggest that if you see a political candidate on the campaign trail between now and Election Day ask him/her about this plan and its support by the vast majority of all Americans. Will they support fixing Social Security’s long-term solvency while also improving benefits without cutting the program?
It can be done, if only there was the political will to do it.
Social Security, Medicare and the GOP Congress
The Senate’s new majority leader has been true to his word…Mitch McConnell still won’t talk about his plans for Social Security and Medicare, even now that he’s been re-elected and will serve as the new leader of the Senate.
However, House Speaker John Boehner has no problem laying out the GOP plan. There are no real surprises here, it’s basically the GOP/Ryan Budget version 4 (or 5, we’ve lost count) which has only avoided full passage because of the formerly Democrat-controlled Senate. As usual, lowering corporate tax rates while cutting Social Security and Medicare are items #1 and #2 of the GOP 5 point plan. Lower taxes for businesses, Couponcare for seniors and raising the retirement age for Social Security are now back on the table with the Republican-led Congress.
Is anyone really surprised?
New Video: “Eleanor’s Hope” for Social Security & Medicare
One in three women are living in or near poverty. Older women face poverty in far greater numbers than older men. The National Committee’s “Eleanor’s Hope” initiative, named in honor of First Lady Eleanor Roosevelt, will raise awareness, recruit and train new activists and bolster Congressional leaders who are making a difference on women’s health and retirement security issues.
As part of Eleanor’s Hope, we’ll advocate for legislation in the new Congress that addresses the inequities threatening millions of retired women and work to elect lawmakers who share our vision of retirement equity for women. Take a moment to watch our video…and share with your friends.
Trying to Have it Every Way on Social Security
It’s been an interesting couple of weeks in Kentucky as Senate Minority Leader Mitch McConnell voluntarily and unexpectedly reminded voters of his support for privatizing Social Security.
“After Bush was re-elected in 2004 he wanted us to try to fix Social Security,” said McConnell. “I spent a year trying to get any Democrat in the Senate – even those most reasonable Democrat of all, Joe Lieberman – to help us.” Senator Mitch McConnell
Naturally, the next question from reporters was whether voters should expect the senator to push Social Security privatization after the midterms, McConnell replied, “I’m not announcing what the agenda would be in advance.”
In other words, vote for me now and afterwards I’ll tell you my plans for the nation’s largest and most successful economic security program.
Seriously?!?
The Social Security Disconnect Between Congress and Everywhere Else
It’s that time of the year (just days before Election Day) when every Congressional candidate extolls the virtue of Social Security. Too many of these candidates will then return to Congress (with your vote) singing a different tune lamenting that America simply “can’t afford entitlements” like Social Security and Medicare. Only after Election Day will you discover that “save” actually means “slash” and “protect” means “privatize.” They’ll claim your benefits must be cut or programs privatized to “save” the programs for future generations. The problem is…that’s simply not true and the American people of all political parties, ages and incomes don’t believe that cutting benefits is the best way to strengthen Social Security.
This Social Security disconnect is illustrated in a big way in a new report released today by the National Academy of Social Insurance. “Americans Make Hard Choices on Social Security” shows that Americans’ support for Social Security is unparalleled and they are willing to pay more in taxes to stabilize the system’s finances and improve benefits. We highly recommend you read the entire study (it’s important!) but here are some key highlights:
To gauge Americans’ policy preferences, the survey used trade-off analysis — a technique that is widely used in market research to learn which product features consumers want and are willing to pay for. The trade-off exercise allowed survey participants to choose among different packages of Social Security changes. As lawmakers would do, they weighed how each policy change would affect workers, retirees, and the program’s future financing gap, and then chose among different packages of reforms.
Seven out of 10 participants prefer a package that would eliminate Social Security’s long-term financing gap without cutting benefits. The preferred package would:
- Gradually, over 10 years, eliminate the cap on earnings taxed for Social Security. With this change, the 6% of workers who earn more than the cap would pay into Social Security all year, as other workers do. In return, they would get somewhat higher benefits.
- Gradually, over 20 years, raise the Social Security tax rate that workers and employers each pay from 6.2% of earnings to 7.2%. A worker earning $50,000 a year would pay about 50 cents a week more each year, matched by the employer.
- Increase Social Security’s cost-of-living adjustment to reflect the inflation experienced by seniors.
- Raise Social Security’s minimum benefit so that a worker who pays into Social Security for 30 years or more can retire at 62 or later and have benefits above the federal poverty line.
Again, not only do Americans value Social Security they are willing to pay to sustain and improve it. This package was preferred by large majorities across political parties and income levels. 68% of Republicans, 74% of Democrats, and 73% of independents favored this no-cuts plan, as do 71% of study participants with incomes above $75,000 and 68% of those with incomes under $35,000.
We suggest that if you see a political candidate on the campaign trail between now and Election Day ask him/her about this plan and its support by the vast majority of all Americans. Will they support fixing Social Security’s long-term solvency while also improving benefits without cutting the program?
It can be done, if only there was the political will to do it.