via Jeff Carlson TRUTH ABOUT SOCIAL SECURITY AND THE REPUBLICANS HATE IT Remember this Social Security does not contribute to the deficit NOT AT ALL. Anything that tells the truth seems to disturb the Republicans who want you only to know what is put out by Fox News and Rush L and the Talking Heads. From the Article: The United States may have serious longer-term fiscal problems, but Social Security is not chief among them. After all, the Social Security Trust Fund has a $2.7 trillion surplus and will continue to grow until 2021. Even though the population of Americans over 65 will grow by a third over the next decade, by 2035 Social Securitys share of GDP is nevertheless forecast to increase slowly from just under to a little above five percent. Meanwhile, the program provides 40 percent of the cash income for American retirees, reducing the poverty rate among the elderly from 43 to just 9 percent. These are just some of the reasons why President Obamas proposal to cut the growth of future Social Security benefits by moving to a different cost of living measure is so ill-advised. But theres one more argument against adopting the chained CPI (consumer price index). As you can see in detail below, raising the payroll tax cap from its current $113,000 to $200,000 will generate far more revenue and deficit reduction for Uncle Sam without trimming benefits for millions of seniors already so close to the edge of financial distress. Remember: #SocialSecurity does NOT contribute one penny to the deficit! LIKE and SHARE this with your friends! TheTruthNow.org — with Jan Schakowsky and Dan Adcock.
Posted on: Wed, 23 Oct 2013 23:03:40 +0000
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