The Democrats have not been wasting any time since they took the House of Representatives. They just introduced a bill with over an astounding 200 original cosponsors. This remarkable legislation would make the lives of 63 million Americans better right now and every one in the future.
These include children who have lost a parent, people who worked for decades then acquired a disability, retired seniors, Gold Star families, and others, all of whom will be getting a raise.
Chair of the Social Security Subcommittee House Ways and Means Committee John Larson (D-CT) just introduced the Social Security 2100 Act in a press conference. This bill increases the benefits for everyone getting Social Security, which is not an “entitlement” as the word is currently used. It is a promise.
Before we had Social Security, life was pretty grim for millions of people. The U.S. government decided that this could be a better country and added this amazing benefit that has helped untold people.
Unfortunately, the average amount for retired beneficiaries is just $16,320 a year now. As it stands, Social Security certainly is not enough to live on. Yet, the majority of people in this country have no other income after a lifetime of working.
Not one Republican has cosponsored the new Social Security 2100 Act.
There is an easy solution for funding Social Security. It has what it calls a cap. That means that employers deduct money from people’s paychecks until their income reaches $128,400. Then, no matter how much more they make per year, they do not have to pay a dollar more into Social Security. Lift it, and the people who earn billions of dollars a year would have to pay their fair share.
The proposed legislation would increase the program’s cost of living which does not meet the rate of inflation. That is the primary reason Social Security benefits thrust people deeper and deeper into poverty. The bill also increases the minimum benefit. Legislation will make certain individuals could rely on their Social Security payments throughout this century.
What happened to Social Security? The Forbes Magazine wrote:
‘But Congress has added no new protections nor voted increases in benefits for over half a century, despite the fact that the nation is much wealthier today than it was then. What stopped the building was a billionaire-funded campaign to undermine Social Security.’
‘That decades-long campaign succeeded in convincing too many policymakers, members of the mainstream media and the general public that not only can’t we afford to expand Social Security, we can’t even keep the promises already made.’
Republicans have tried to squeeze every dollar they can from the working and middle class and move it to the wealthiest. People’s 401k retirement plans are just one other example. Social Security was no exception. In fact, they borrowed the money reserved to finance the program and never returned it. After that, they cruelly frightened the elderly and others about the end coming to their lifeline.
Congress introduced its legislation on the birthday of President Franklin D. Roosevelt, who is the father of Social Security.
Featured image is a screenshot via YouTube.