Elected officials are discussing several competing plans to cut the payroll tax that is used to fund the Social Security Trust Fund. The employee share of the tax is scheduled to go back to 6.2% on January 1, from a current rate of 4.2%, if no legislation is passed, and President Obama wants to lower the tax to 3.1% next year. A Democratic-written bill in the Senate would lower the rate to that 3.1% level. It is financed chiefly by a 1.9% surtax on income over $1 million, a proposal that is almost universally opposed by Republicans, and GOP senators are expected to defeat the measure.
"Raising the retirement age would inflict further hardship among a group of workers who are likely to face health and economic problems in their 60s." –Doug Hart, President, Arizona Alliance for Retired Americans
"Of all the lies and confusion that still surround the Affordable Care Act, perhaps the greatest is that it is bad for seniors." - Dave Meinell, President, Missouri Alliance for Retired Americans
"My father died when I was three. Because of Social Security (survivors) benefits, my Mom, my younger sister and I survived." – Diane Fleming, DC Alliance Member
"We fear that Congress will balance the budget on the backs of the 98 percent, which is working Montanans and retired Montanans. We simply cannot afford these devastating cuts to vital services such as Social Security, Medicare and Medicaid," –John Forkan, President, Montana Alliance for Retired Americans
"Along with national parks and Social Security, Medicare is one of the best ideas we Americans have ever devised." -Tim Cunningham, New Mexico Alliance Member
"Seniors have earned and deserve their Social Security checks, and they shouldn't have to go to Congress every 10 years and beg for the program to be renewed." –James Parent, Alliance for Retired Americans Regional Board Member
"Today's retirees paid Medicare and Social Security taxes in every paycheck we ever earned. Now that we are retired, these programs help us to be able to stay healthy and pay our bills. They are the promise we make to people who worked hard all their lives, and we need to keep that promise for today’s workers." –Tony Fransetta, President, Florida Alliance for Retired Americans
"Today's seniors want to lower the budget deficit. We do not want a large debt to be the legacy we leave to future generations, but we should not punish people who have paid Social Security taxes all their lives." –Jim Moore, President, North Carolina Alliance for Retired Americans
"Social Security should remain what it has been for 77 years – a solid, reliable way that generations of workers have been able to retire with dignity, economic security, and peace of mind." –Barbara J. Easterling, President, Alliance for Retired Americans
"The fight for Social Security and Medicare is part of a larger fight for justice and fairness"—Barbara J. Easterling, President, Alliance for Retired Americans
"The health insurance reform helps not just seniors, but also middle-class families and young Americans, who are just starting to see the benefits. Don’t let Republicans take all that away." –Don Rowen, President Emeritus, Iowa Alliance for Retired Americans
"Honoring the promise of Social Security and Medicare should not be a partisan issue. Honoring the contributions that we make throughout our working years so that we may feed and clothe ourselves, keep a roof over our heads and those of our family, there is no reason for that to be a hotly contested partisan issue." –Edward Coyle, Executive Director, Alliance for Retired Americans
"We need to make sure that people who need Social Security to make ends meet will have it, and not fall victim to ill-informed and unnecessary cuts to these vital programs."
–Barbara J. Easterling, President, Alliance for Retired Americans
The November 23rd deadline for the Super Committee to vote on a legislative proposal that achieves $1.2 - $1.5 trillion in savings has come and gone without producing any type of report.
Just five days before the deadline for a deficit reduction deal, the Super Committee dealing with the nation’s budget deficit in Congress still did not seem close to reaching an agreement on tax reforms and spending cuts.
On Tuesday, voters in Ohio delivered a blow to Gov. John Kasich (R) and rejected his attempt to strip collective bargaining rights from public employees. A whopping 61% of the Ohio electorate voted to repeal SB-5 by saying “no” on Issue 2, as it was presented on the ballot.
The Washington Post published a Halloween-Eve front page “Prediction of Doom” feature piece riddled with misleading statements and inaccuracies about Social Security and its financial footing.
As the “Super Committee” met on Wednesday, Alliance members and other local advocates from the Strengthen Social Security Campaign – a coalition which includes the Alliance – sprung into action.
Social Security recipients will get a 3.6% increase in benefits next year, their first raise since 2009, federal government officials announced on Wednesday. Alliance Executive Director Edward F. Coyle responded to the news in a press release.
After two years without an inflation adjustment, the Social Security Administration is expected to announce a 2012 cost-of-living adjustment (COLA) of more than 3 percent on October 19th.
According to multiple sources, Members of Congress on the Super Committee charged with reducing the nation’s budget deficit are considering changing the formula that determines the Cost of Living Adjustment (COLA) for future Social Security recipients.
The “Super Committee” in Congress is tasked with finding $1.2 trillion worth of savings by November 23. If its members fail to do so, automatic spending cuts will kick in, taking that amount evenly from domestic and military spending. With only two out of the six meetings the committee has held thus far having been public, observers’ apprehension is growing.