Showing posts with label Social Security 2100 Act. Show all posts
Showing posts with label Social Security 2100 Act. Show all posts

Wednesday, August 7, 2019

Tell Congress: Pass thee Social Security 2100 Act

No, this isn't blurry. You're just getting old.
Petition to Congress:
"Pass the Social Security 2100 Act, which would increase Social Security benefits and keep the system solvent into the next century."
Add your name:
Sign the petition ►
Rep. John Larson's Social Security 2100 Act would increase Social Security benefits for all recipients, protect low-income workers by increasing the minimum monthly benefit and help Social Security maintain its value over time by adjusting benefits to inflation. In addition to protecting and enhancing Social Security, it’s paid for it by requiring millionaires and billionaires to pay their fair share. We’re just 7 votes shy of passing Social Security expansion in the House of Representatives in 2019!
America is on the brink of a retirement crisis. Low wages and Wall Street scams have left countless Americans unable to save for retirement. Yet instead of protecting the best and most stable retirement program we have, Donald Trump and Trump Republicans repeatedly attack it. They proposed slashing $492 million from the Social Security Administration and routinely invoke the deficits they created with the Trump Tax Scam as an excuse to cut our earned benefits.2,3
That is why we are standing with our friends at Social Security Works to support the Social Security 2100 Act, which would:4
  • Increase Social Security benefits for all of us.
  • Force millionaires and billionaires to pay the same rate as everyone else.
  • Protect low income workers by increasing the minimum monthly benefit.
  • Guard against inflation by indexing benefits to what the elderly really must spend money on.
Social Security is one of the most successful government programs in our history, helping to keep tens of millions of Americans out of poverty over the past 80 years. It can pay all the benefits we earned through 2034 and nearly 80 percent after without any changes. But forcing the wealthy to pay their fair share will secure the program for all of us into the next century.
Republicans have been plotting for decades to undermine Social Security any way they can. Right now – with Americans reminded of all the good government does – is the best time to promote a bold vision for the future of Social Security.
Tell Congress: Expand Social Security. Pass the Social Security 2100 Act. Click the link below to sign the petition:
Heidi Hess, CREDO Action
Add your name:
Sign the petition ►
References:
  1. Nancy Altman, "Republicans Are Killing Social Security One Tiny Service Cut at a Time," Slate, Jan. 22, 2018.
  2. Rep. John Larson, "The Social Security 2100 Act," accessed Feb. 6, 2019.
  3. Ibid.

Friday, June 7, 2019

Tell Congress: Reject provisions in SECURE Act that allow annuities providers to scam retirees, and expand Social Security

The average Social Security payment of $14,760 isn't enough to make ends meet.
Petition to the Senate:
"Reject the provisions in the SECURE Act that would allow annuities providers to scam retirees out of their hard-earned savings, and instead focus on expanding Social Security by passing the Social Security 2100 Act."
Add your name:
Sign the petition ►
But instead of fighting to expand Social Security, some Democrats in Congress are pushing a bipartisan retirement package that contains a massive giveaway to Wall Street that would allow companies to defraud retirees.Social Security is one of the most successful government programs in our history, helping to keep tens of millions of Americans out of poverty over the past 80 years.
This legislation just passed the House of Representatives. We need to ramp up pressure on the Senate to stand up to rich Wall Street donors and get their priorities straight. The security of hard-earned retirement savings should come first.
Wall Street‒backed insurance companies have been fighting for this giveaway for years. The legislation, called the SECURE Act in the House of Representatives, would give employers immunity if their workers are scammed out of retirement savings that are invested in annuities. The immunity – called safe harbor – would allow employers to pick annuities based on kickbacks or how little they cost upfront. The annuity company could later declare bankruptcy and workers would have no ability to sue their employer to recover their savings.2
That's exactly what happens right now to many public employees with 403(b) plans. The new legislation would expand these scams to 401(k) plans, with too few safeguards and no rules insisting companies sell only fixed-payment plans instead of predatory variable annuities.3
Why would Democrats fight for this legislation instead of expanding Social Security? Look no further than Democratic Rep. Richard Neal, who crafted the legislation with Republicans on his committee. The companies that would benefit include:4
...some of Neal’s biggest donors, including Prudential, whose political action committee delivered $5,000 to Neal last quarter. Or the American Council of Life Insurers PAC, another $5,000 donor, whose members also sell annuities. Or Mass Mutual Life Insurance Company. Or New York Life. Or Liberty Mutual. Or TIAA. Or the Insured Retirement Institute, an industry PAC. Or the Association for Advanced Life Underwriting PAC, another trade group that immediately praised the SECURE Act’s committee passage. The Investment Company Institute, a trade group for mutual funds (that also benefit from the SECURE Act), is another Neal donor.
It's not too late to get the Senate to reject this awful retirement scam loophole – if we speak out now.
If Congress really wants to protect Americans' retirement, there is a simple answer: Expand Social Security. Social Security is a time-tested program that can pay all the benefits we earned through 2034 and nearly 80% after without any changes. Forcing the wealthy to pay their fair share will secure the program for all of us into the next century.
The Social Security 2100 Act would increase Social Security benefits for all of us, force millionaires and billionaires to pay the same rate as everyone else, protect low income workers by increasing the minimum monthly benefit, and guard against inflation by indexing benefits to what the elderly really must spend money on.5 Instead of throwing retirees to the wolves in order to win support from major Wall Street donors, our elected representatives should be fighting to expand Social Security.
Tell Congress: Reject retirement scams and expand Social Security. Click below to sign the petition:
Add your name:
Sign the petition ►
References:
  1. David Dayen, "The House has found bipartisan agreement on reform to retirement accounts. Be afraid." The Intercept, May 22, 2019.
  2. Ibid.
  3. Ibid.
  4. Ibid.
  5. Rep. John Larson, "The Social Security 2100 Act," accessed June 6, 2019.

Thursday, February 7, 2019

Tell Congress: Pass the Social Security 2100 Act

Petition to Congress:
"Pass the Social Security 2100 Act, which would increase Social Security benefits and keep the system solvent into the next century."
Add your name:
Sign the petition ►
Now it is time to use our advantage to push a bold progressive agenda – and progressives in the House of Representatives are doing just that. Rep. John Larson just introduced a bill to expand and protect Social Security with the support of almost all House Democrats.The shutdown was a disaster for Donald Trump and Trump Republicans, and not just because they got blamed for it. The shutdown also made millions of people realize the essential role government workers and government services play in our everyday lives. 
Trump and his loyal Republicans won't stop trying to slash Social Security and demolish the programs that serve Americans. It's up to us to show Americans that bold progressives have a better vision for the country.
The Social Security 2100 Act would increase Social Security benefits and keep the system solvent into the next century by making the super-rich finally pay their fair share. America is on the brink of a retirement crisis. Low wages and Wall Street scams have left countless Americans unable to save for retirement. Yet instead of protecting the best and most stable retirement program we have, Donald Trump and Trump Republicans repeatedly attack it. They proposed slashing $492 million from the Social Security Administration and routinely invoke the deficits they created with the Trump Tax Scam as an excuse to cut our earned benefits.2,3
That is why we are standing with our friends at Social Security Works to support the Social Security 2100 Act, which would:4
  • Increase Social Security benefits for all of us.
  • Force millionaires and billionaires to pay the same rate as everyone else.
  • Protect low income workers by increasing the minimum monthly benefit.
  • Guard against inflation by indexing benefits to what the elderly really must spend money on.
Social Security is one of the most successful government programs in our history, helping to keep tens of millions of Americans out of poverty over the past 80 years. It can pay all the benefits we earned through 2034 and nearly 80 percent after without any changes. But forcing the wealthy to pay their fair share will secure the program for all of us into the next century.
Republicans have been plotting for decades to undermine Social Security any way they can. Right now – with Americans reminded of all the good government does – is the best time to promote a bold vision for the future of Social Security.
Tell Congress: Expand Social Security. Pass the Social Security 2100 Act. Click the link below to sign the petition:
- Josh Nelson, CREDO Action
Add your name:
Sign the petition ►
References:
  1. Robert Pear, "Democrats Push Plan to Increase Social Security Benefits and Solvency," The New York Times, Feb. 3, 2019.
  2. Nancy Altman, "Republicans Are Killing Social Security One Tiny Service Cut at a Time," Slate, Jan. 22, 2018.
  3. Rep. John Larson, "The Social Security 2100 Act," accessed Feb. 6, 2019.
  4. Ibid.