Today is a national call-in day to let Senators know that there is support for keeping Social Security out of the budget debate.
Here are some facts. Social Security cannot borrow, so it does not contribute to the deficit. In fact, working people have been paying a large share of their earnings into Social Security to save for their retirement, and because of this the program has been running a huge surplus. The government has been borrowing FROM Social Security to fund tax cuts for the rich. This borrowed money was used to purchase Treasury Notes, just like China does when we borrow from them, and those notes earn interest, just like China’s, which also helps fund the program. So all of this money people have been putting aside for their retirement adds up to a huge trust fund, which doesn’t get used up until approx 2037 — if the economy doesn’t get better; later if it does. Even then it only runs a bit short.
So the only threat to Social Security is that if nothing is done there might be some cuts in benefits in 2037. The solution is not to cut benefits to avoid cuts in benefits. That doesn’t make sense. The solution is to “raise the cap.” Today only incomes below about $100K pay into Social Security. Raising that $100K “cap” fixes the problem. Better yet, remove the cap on incomes above $250,000.
The following is from the Strengthen Social Security coalition, of which Campaign for America’s Future is part:
We need you to call your Senators and demand that they vote for the Sanders/Reid Social Security Protection Amendment.
Senator Sanders and Majority Leader Reid are leading the fight in the Senate to protect Social Security from drastic cuts.
Their amendment simply says:
Social Security benefits for current and future beneficiaries should not be cut and Social Security should not be privatized as part of any legislation to reduce the Federal deficit.
Call your Senators RIGHT NOW at 1-866-251-4044. You’ll be given a choice of which of your state’s two senators to be connected with. Call BOTH of your senators if you have the time. It only takes a minute each.
Tell the person who answers the phone:
- I am a voter/constituent living in [your state]. I am calling to tell the Senator:
- I oppose all cuts to Social Security and
- I urge them to vote yes on the Sanders/Reid Social Security Protection Amendment.
Please take the time for this very important effort today. This is for all of us who depend on Social Security.
Call Today: 1-866-251-4044.
AFTER YOU CALL:
Stay involved, the threat to Social Security continues. Please click to stay involved in the fight.