Recently, Seniors and Retirees learned of new legislation on Capitol Hill to fight back against the Tax and Spend Congress who are driving Social Security into insolvency.This new Bill, H.R.1902 which is called “The Social Security 2100 Act,” was designed to give Social Security beneficiaries an immediate boost by expanding benefits for all eligible recipients, while simultaneously reducing taxes on Seniors.
H.R.1902 is gaining more support than any other previous proposals to expand Social Security — the Seniors Group for Social Security (SGSS) strongly endorses this bill.
Passing the H.R.l902 Bill is one way to finally STOP THE ATTACKS on our earned and promised benefits. This new legislation is the first of its kind that calls for the expansion of benefits to current and future Seniors and Retirees!
As you know for the sixth year in a row, the 60+ million beneficiaries who depend on their Social Security income had to settle for a low annual Cost of Living Adjustments (COLA). For Seniors and Retirees, 2018’s COLA will be eaten up by Medicare cost increases.
Meanwhile, Senior Americans saw their household budgets jump up substantially last year… despite our Social Security benefits NOT keeping pace with inflation. Housing UP! Healthcare UP! Groceries UP! Energy UP! Prescriptions UP!
But passing H.R.1902 would be a game changer. In fact, if Social Security expansion were passed, Seniors and Retirees would see:
- An across the board, immediate increase for all Social Security beneficiaries starting in 2018; it is estimated that the average beneficiary would get $300-$400 more in benefits per year.
- An improvement in the annual COLA formula to better reflect the costs incurred by Seniors and Retirees using the Consumer Price Index for the Elderly or CPI-E formula;
- A new Social Security minimum benefit that is set 25% above the poverty line and indexed to wages to ensure that the Social Security minimum benefit never falls behind;
- Tax breaks for Social Security beneficiaries; NO MORE taxing our benefits!
- Millionaires and Billionaires paying the same rate as everyone else by applying the payroll tax to wages above $400,000 (currently payroll taxes are not collected on wages over $127,200)
What Seniors and Retirees are telling Congress (by signing this petition) is this, “Keep your hands off my Social Security benefits!”
Until now, the so-called “experts” on Capitol Hill have told us that Social Security is going bankrupt and the only way to save it is to cut benefits, raise the retirement age, and by means-testing (which is an under-handed way to deny Social Security benefits). Congress never cuts back on their own out-of-control spending!
My friend, Social Security is not a “Welfare” program – in fact, Americans had to pay special taxes during our working years to fund our retirement and survivor benefits.
President Trump said repeatedly he didn’t want to cut Social Security. But Speaker Paul Ryan is calling for entitlement cuts. Seniors and Retirees need to have peace of mind and to know our benefits will be there for us now and in the future!
Not knowing what will happen to Social Security is something that keeps me up at night, and I’m sure you have been anxious as to what will likely happen to our retirement income, especially since Congress just short-changed us (AGAIN) by finding a way to give us a 2% COLA, then a Medicare increase, and then taxing us on both!
I’m worried that if nothing is done to fully expand Social Security, then it will only be a matter of time before we will have to accept smaller monthly checks as Congress eats away at our benefits.
Politicians would never describe one of their “reform” plans as a Social Security benefit cut. They wouldn’t dare say that! They know as soon as they mention “benefit cuts” they will lose the support of a large and powerful voting block of Seniors and Retirees.
But the “reform” proposals being discussed are exactly that – benefit cuts, such as these:
- Raising the full Retirement Age from 67 to 69. Those under 62 today are targeted. This reform keeps Seniors from their benefits for an additional 2 years.
- Using the Chain-Weighted CPI (instead of the CPI-E) to determine our Social Security COLAs for 2018. This is the worst possible method for determining the proper cost of living adjustment. This reform keeps Seniors from getting their full and correct benefit amount.
- NO COLAs for Seniors and Retirees if their adjusted gross income exceeds $85,000 (single) or $170,000 (joint).
If we do nothing, if our voices aren’t heard, if Social Security “reforms” get passed in 2018 – the Social Security Board of Trustees has estimated that Seniors would get an across the board 21% DECREASE in our monthly Social Security income.
Senior Citizens must act NOW and let Congress know that Seniors and Retirees have had enough – health care costs are up 5.1%; medicines are up 4.5%; housing costs are on the rise, groceries are more expensive … we cannot tolerate another hit to our income!
We cannot afford to wait and see what happens … especially when the critical measures being discussed could have life-long, devastating effects on our income.
Senior Citizens and Retirees are a potent force when we raise our voices. It is too late for us to change the pathetic 2018 2% COLA we just got — as you know, the 2% COLA increase will be eaten up by Medicare cost increases, leaving us nothing. That’s why we must fight for Social Security expansion while the House debates cutting even more of our earned and promised benefits.