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Mike Collins is wrong on Social Security


By Barbara Burt

On the fourth Wednesday of every month, my husband and I gratefully find Social Security benefit payments have landed in our bank account, just in time to help pay the mortgage. About a fifth of all Georgians receive Social Security benefits: retirees, children of a deceased worker, widows and widowers, and disabled workers and their families.

So you might feel frightened upon hearing the fake news: “Social Security is running out of money!” This is a message long pushed by Wall Street and the wealthy to weaken support for the program. And Republican lawmakers have joined them. In March, the Republican Study Committee, which consists of 80-percent of House Republicans—including our own representative, Michael Collins—proposed a budget that included cutting Social Security.

Since it began in 1935, Social Security has worked like an annuity: you pay Social Security taxes during your working life and, when you retire, you receive a set monthly payment. Experts at the Social Security Administration estimate its future needs by tracking population data. For example, millions of retiring baby boomers were no surprise—experts accounted forboomers at birth.

The 2024 Social Security Trustees Report states the program will pay out benefits at one hundred percent until 2035. By then, additional funds will be needed, or benefits will drop by about 17 percent. According to Social Security’s chief actuary, the major reason for the predicted shortfall is rising inequality, the exploding gulf between the average and highest salaries. Currently, you don’t pay Social Security taxes on income over $168,600, which means almost 20 percent of U.S. wages are not subject to Social Security taxes. (Twenty percent of U.S. wages go to the top six percent of wage earners.) This disparity cost Social Security more than $1.4 trillion over the last decade. Asking the wealthy to pay their fair share would go a long way to fully funding Social Security past 2035.

In contrast, Michael Collins and the Republican Study Committee’s budget calls for $1.5 trillion in cuts to Social Security in the coming ten years. These cuts include raising the retirement age above the current age of 67 and slashing middle-class benefits. They want to convert Social Security into a flat, poverty-level payment instead of an earned benefit. 

Polls show that 92 percent of us think cutting Social Security is a terrible idea. Almost two million Georgians receive Social Security, and its modest benefits lift a quarter of those beneficiaries out of poverty. Don’t you think elected officials who care about their constituents’ welfare would look for ways to expand the program, not slash it?

Michael Collins and the Republicans have it backwards.

Barbara Burt is a resident of Athens

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13件のコメント


不明なメンバー
5月29日

The facts of the matter are simple. From the very beginning Social Security has paid people from contributions made by current workers. The Baby Boom Generation was historically large and is now entering retirement. Not enough new workers are coming into the workforce to pay retiree benefits. In other words, either benefits have to get cut or new sources of funding have to be found. Go ahead and blame the Republicans for a simple arithmetic problem. But not discussing solutions is ignoring reality. raising the retirement age does not affect current recipients like you who depend on Soicial Security. But a solution has to be found. What do you suggest?

いいね!

william
william
5月20日

Now for another conspiracy theory, baby boomers are leaving the work force in mass and receiving social security benefits. The work force of the US is shrinking and so is the contributions to the SS system. The only way to keep SS a float is to create a larger work force to support all the people that are going to retire. How to create a larger work force? Allow massive amounts of outsiders into the US.

いいね!

BS Detector
BS Detector
5月20日

In today's world, you can't trust either party. Leave SS alone !!

いいね!
不明なメンバー
5月29日
返信先

Leaving it alone does not solve the problem.

いいね!

My grandmother would’ve lost her house without social security. My aunt wouldn’t be able to get care for her dementia without social security…and she has a pension. Any representative that wants to cut social programs is only doing so to line their own pockets or get votes from other people just as cruel as they are. Why anyone that makes below $500,000/year votes for a republican is beyond me. Willful ignorance?

いいね!

Paul Bunce
Paul Bunce
5月19日

Social Security may be the largest Ponzi scheme ever enacted. Let's look at a couple of myths and truths about it.

Supposedly you pay into a trust fund which will pay you back after retirement. There is no trust fund. Many decades ago Democrats revised the program so that all incoming funds go into the general revenue fund of the Federal Government to fund any and all programs. The "trust fund" now consist of IOUs from the Treasury Department which can only be redeemed by future tax revenues.

The rate of return on you social security "investment" for the money you are forced to pay into it is abysmally low. If you were allowed to invest that same amount …


いいね!
不明なメンバー
5月29日
返信先

Thank you for telling the truth. I'm tired of people who argue there is no problem.

いいね!
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