Monday, July 30, 2012

The Solvency Of Social Security | Addicting Info

The Solvency Of Social Security | Addicting Info:

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Another myth that Republicans are pushing is that we need to raise the retirement age because people are living longer. Again, this is a total lie designed to trick you into agreeing to benefit cuts. Retirees are living just as long today as they did in the 1930′s. Life expectancy has only gone up because fewer people die in infancy today and as a result, the average life expectancy age goes up. But when you break down the statistics by earnings bracket, people in the top brackets live 6.5 years longer than they did 70 years ago, and people in the lower brackets have only gained less than a 2 year increase in life expectancy. So if Republicans were honest, they would slash benefits of those in the upper crust of American society. But they won’t do that. Instead they want to raise the retirement age to keep you from claiming the benefits that you worked so long to claim. It’s just another way for them to cut your benefits.


Republicans are hell-bent on destroying Social Security. So much so that they have played the National Debt card as a reason to cut it. They claim that Social Security adds to the debt. In reality, Social Security funds, by law, are self-sustaining, and are totally separate from the federal budget. In other words, Social Security pays its own way. The government does not borrow money to pay for the program. The trust fund is sustained by taxpayers who contribute a payroll tax, known as the FICA tax, that has been in effect since Social Security came into existence. Republicans are just full of excuses and will try anything to kill the program.

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