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Showing blog posts tagged with Social Security

CEOs: 'Retirement Security Is Great for Me, but Not for You'

CEOs: 'Retirement Security Is Great for Me, but Not for You'

A new report from the Center for Effective Government and the Institute for Policy Studies shows that two groups of corporate CEOs pushing for cuts to Social Security benefits, such as the "chained" CPI, personally have massive retirement plans. They also have allowed massive deficits to grow in their employees' pension funds. While these CEOs—members of the Business Roundtable and the Fix the Debt Coalition—sit on retirement funds most people couldn't even dream of, they have hurt their own employees' retirement security and are looking to do the same for people who don't even work for them.

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Warren: There IS a Retirement Crisis

Contrary to what The Washington Post and the billionaires who are trying to cut Social Security by pitting young people against seniors say, the nation does face a retirement crisis and Social Security doesn’t need to be cut. It must be—and can be—strengthened, said Sen. Elizabeth Warren (D-Mass.) in a powerful speech on the Senate floor Monday.

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Hey, Congress, Cut It Out

Hey, Congress, Cut It Out

We need a budget that helps, not hurts, working people, protects Social Security, Medicare and Medicaid from benefit cuts, invests in our infrastructure and creates jobs by raising revenue from Wall Street and the wealthiest 1%. Repealing tax subsidies for sending jobs overseas, for example, would generate $583 billion over 10 years.

Take the pledge to call your elected representatives on Dec. 12 and demand a budget deal for working families.

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What Did 700,000 People Tell Paul Ryan on Wednesday?

What Did 700,000 People Tell Paul Ryan on Wednesday?

On Wednesday afternoon, several retirees and working family activists visited Rep. Paul Ryan's (R-Wis.) office to deliver more than 708,000 signatures on a petition to the House Budget Committee chair, telling him there should be "no grand bargain in exchange for cuts to Social Security, Medicare, and Medicaid benefits." Ryan was not present and his staffers would not allow those with cameras into the office. Instead, a staffer came out into the hallway and accepted the petitions.

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5 Reasons Millennials Should Support Strengthening, Not Cutting, Social Security

As Congress continues to negotiate over the federal budget to avoid another government shutdown, plenty of politicians and special interest groups are actively trying to influence the outcome.

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Time's Running Out for Congress to Act on Vital Issues

Time's Running Out for Congress to Act on Vital Issues

With the end of the legislative session looming, here’s a look at some of the key working family issues still on the congressional agenda. See the issues after the jump.

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10 Quotes on Social Security from Members of Congress Who Care About Your Retirement

10 Quotes on Social Security from Members of Congress Who Care About Your Retirement

Social Security is the healthiest part of our retirement security system, and protecting and improving Social Security benefits is the best solution. This was the consensus of working families’ advocates and members of Congress at a conference held yesterday by Social Security Works and a coalition of organizations. Among the key proposals suggested by representatives and senators were increasing the monthly Social Security benefits and eliminating the cap on the amount of income people pay Social Security taxes on (currently set at $113,700). 

Check out the 10 Social Security quotes from the conference after the jump.

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Smallest-Ever Social Security COLA Still too Big for 'Chained' CPI Backers

Smallest-Ever Social Security COLA Still too Big for 'Chained' CPI Backers

Next year, the millions of Social Security recipients will see the smallest cost-of-living adjustment ever—just 1.5% or about $19 a month. If the politicians—and their billionaire friends who don’t want to pay the same taxes workers do—who are pressing hard for the "chained" CPI benefit cut had their way, the adjustment would be even smaller than 2014’s historic low.

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So, About That 401(k)? It's Probably Not Going to Be Enough

Photo courtesy 401k 2013

One of the top targets of the 1% has been retirement security for America's working families. In addition to near constant congressional attacks on Social Security and companies attempting to reduce or get out of pension obligations, a widespread and growing tactic is to force employees to shift from defined-benefit plans that pay them a fixed amount each month in retirement, to defined-contribution plans, where the amount paid in is fixed, but payouts in retirement can change over time. This switch to defined-contribution plans, such as 401(k) plans, almost universally means less money to live on for retirees. 

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The Fable of the Long-Term Federal Budget Crisis

The Washington elite are returning to their obsession with the long-term budget crisis, which means extremists are once again calling for benefit cuts to Social Security and Medicare. Last week, as the government reopened, President Barack Obama called for cooler heads to prevail and warned elected leaders to ignore the bloggers and paid activists who have been distracting lawmakers from the real task of growing our economy. The president’s warning should apply also to so-called moderates who continue to succeed in creating a fable to convince rational people to agree to make sacrifices of family-sustaining programs, rather than ask the rich to pay their fair share of taxes.

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