Monday, March 11, 2013

Social Security and Chained CPI

I am entirely dependent upon Social Security. I barely have enough each month to get by. I cannot afford a MediGap policy, so I have to pay Medicare deductibles and co-payments, as well as the full cost for vision and dental. Cutting my benefits hurts me while not decreasing national deficits or the National Debt in any way. Social Security has its own revenue stream, and is the most successful retirement and disability insurance program ever. Decreasing current benefits instead of raising the payroll taxable salary cap to extend Social Security's 100% benefit payout capability beyond 2033 is making a choice to hurt those who can least afford it, versus having a few more well-off people spend the same percentage of their income on payroll taxes as do people making less than $100,000. I would ask those who are considering this proposal to think of how people who's benefits are cut are going to get the help they need, and how much that help will have to be subsidized in other ways by governments and charities. The question becomes, do we really want to in effect subsidize the incomes of the wealthy?

Note: This is in response to a request to add my name as a citizen supporter of the Grayson-Takano letter (from Congressmen Alan Grayson and Mark Takano) against benefit cuts, so that "other congressional offices see the broad public support", and a request that "If cutting Social Security benefits would impact you, tell us how."

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