![]() Warren’s proposal, which would levy a payroll tax on income over $250,000 and on income from investments in order to boost retirees’ average benefits by about $200 a month, doesn’t come out of nowhere. Elizabeth Warren is out today with a dramatic proposal to expand benefits and make the tax base that funds the program sharply more progressive. It’s also been out of the political headlines in recent years, as once-raging debates about the program’s long-time sustainability have taken a back seat to clashes about health care, climate change, and various culture war topics.īut you can’t be the candidate who brags about having a plan for everything without a plan for Social Security, and Sen. It does more than any other single program to lift households out of poverty and it’s probably the most popular aspect of the social safety net. Founded in the 1930s, it’s still the government’s biggest, most expensive program. The SSEA would change the way benefits are indexed annually and would also add a mechanism to full fund the changes.Social Security is the old warhorse of the American welfare state. The Democratic party, however, have put forth a proposal called the Social Security Expansion Act (SSEA), which is targeted at mitigating the projected shortfall and plans to provide recipients with an additional 200 dollars a month, which represents a 12 percent increase to current beneficiaries. ![]() ![]() The increased prices have been especially hard on those who depend on Social Security Benefits, with inflation now outpacing this year's Cost of Living Adjustment (COLA). The issue of combating inflation is a serious one, as the increased cost of living is taking a toll on households across the United States of America, especially older people with limited incomes.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |