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Showing blog posts tagged with Social Security

Join a Human Chain Against Chained CPI

Join a Human Chain Against Chained CPI

Social Security advocates, senior activists, community and faith allies will form a “Human Chain Against the Chained CPI” in front of congressional offices and federal buildings in more than three dozen cities July 2. The Alliance for Retired Americans’ national day of action is designed to showcase the broad base of support for protecting and enhancing retirement security, not dismantling Social Security inch by inch.

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Here's a Bright Idea: Let's Expand Social Security

Photo courtesy: Iowa Democrats

In a Progressive Leaders Forum Town Hall meeting that will air Wednesday on SiriusXM 27's "The Agenda" radio show, Sen. Tom Harkin (D-Iowa) joined Nancy Altman of Social Security Works, Edward Coyle of the Alliance for Retired Americans and host Ari Rabin-Havt to discuss the future of Social Security, including Harkin's proposed legislation that would expand Social Security benefits. The Strengthening Social Security Act of 2013 (S. 567) would raise the monthly Social Security benefit by about $65 and would measure inflation not with the chained CPI (a benefit cut), but using a more accurate measure of inflation for seniors (the CPI-E).

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Retirement Savings in U.S. Face Staggering Deficit

Retirement Savings in U.S. Face Staggering Deficit

A new report from the National Institute on Retirement Security (NIRS) concludes that the United States faces a staggering retirement savings deficit. America's families are between $6.8 trillion and $14 trillion short of recommended retirement savings targets, it says, according to financial services firms. The Retirement Savings Crisis: Is It Worse Than We Think? finds the typical American family has only a few thousand dollars saved for retirement. Some 80% of working families have retirement savings totaling less than their annual income.

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The New 'Realities' Dictate a New Direction

This week, the Center for American Progress (CAP), a think-tank closely associated with President Obama’s Administration since it was the home of many key White House officials like Gene Sperling and Melody Barnes, changed course on backing a “grand bargain” with Republicans on cutting Social Security and Medicare benefits and raising taxes on high income earners to balance the budget in the long run. After taking a position favoring a debate on shrinking government back in 2009, CAP now sees four years later, that the job crisis remains while the federal deficit and the size of government has plummeted.  But, let’s hope this change in heart has a similar effect on the Obama administration.

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'Corporate Pirates of the Caribbean' Report Seeks to Widen Tax Haven Loopholes

Photo courtesy IPS

A new report from the Institute for Policy Studies (IPS), called Corporate Pirates of the Caribbean, details how the CEOs who make up the group Fix the Debt, a group pushing for harsh austerity measures, are set to make even higher profits off of the policies they are pursuing in the name of "balancing the budget." Fix the Debt's members are pushing for cuts to Social Security, Medicare and earned social insurance benefits, while seeking to widen tax haven loopholes by creating a "territorial" tax system, which would earn them as much as $173 billion.

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Everyone Deserves to Retire in Dignity: Let's Strengthen Social Security and Medicare

Photo via National Committee to Preserve Social Security and Medicare (NCPSSM)

Here's a stat that might surprise you: Nearly half of our nation's 41 million seniors are economically vulnerable, meaning their income is less than two times the supplemental poverty threshold.

Benefit cuts to Social Security and Medicare would severely impact these seniors' ability to afford health care, food and other basic living necessities, according to a new Economic Policy Institute study.

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The Great Austerity Experiment Has 'Failed Spectacularly'

The Center for American Progress (CAP) is publicly calling on Congress to abandon job-killing cuts and "grand bargains"—which aren't so "grand" for America's working families—and focus on what the country really needs: jobs. 

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Understanding the Need for Full Employment

Understanding the Need for Full Employment

Last week, the Social Security Trust Fund report was released. One of its more telling charts was of the trend in Social Security revenue. Social Security revenue comes from a tax on the wages of earners, paid by both employees and employers. So, essentially it tracks the level of employment. Based on the simple trend of revenues from 1990 to 2007, just before the Great Recession started, 2012 revenue would have been $899.4 billion; instead, it was $840 billion.  That gap means less money to build up the Social Security Trust Fund than expected. The trustees do not break down the revenue by the age of workers, but based on the dramatically lower employment experience of young workers, the bulk of that gap reflects the lost wages of young people.

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Want to Know the Truth About ‘Austerity’? Ask Damon Silvers in a Tweet Chat

Want to Know the Truth About ‘Austerity’? Ask Damon Silvers in a Tweet Chat

Join Damon Silvers, director of policy and special counsel for the AFL-CIO, June 5 from 3–4 p.m. EDT for a live Twitter chat that will explode the economic myths peddled by the “austerians” and offer a range of alternatives and an economic vision that will work for working families. 

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Trumka and Coyle: Social Security 'Continues to Work'

AFL-CIO President Richard Trumka and Alliance for Retired Americans Executive Director Edward Coyle today issued this joint statement on the 2013 Social Security and Medicare Trustees Report:

The most important message from the 2013 Social Security Trustees Report is that our Social Security system continues to work for the American people.  After years of economic crisis for working families, Social Security is in better shape and more dependable than 401(k)s, private pensions or any other public or private program. We must call out those who will try to misuse today’s report as political cover for unwarranted and ill-advised benefit cuts, like switching to the “chained CPI” to calculate Social Security’s annual cost-of-living increase (COLA).

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