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Trustee Archive
Social Security deductions taken from the paychecks of working Americans are put into the same account that pays the benefits of those retired. In the past, politicians have used Social Security funds for purposes other than retirement benefits. As of 2012, Congress had borrowed and spent more than $1.7 trillion of Social Security taxes on uses unrelated to retirement benefits. There is concern that there will not be enough money to pay benefits to people that are working now. This is because there are a growing number of Americans receiving benefits, and a declining number of workers paying into the system. Social Security had $2.9 trillion in reserves in 2019 - allowing it to pay all promised benefits until perhaps 2035. Benefits would then decrease if the current situation remains unchanged.
To ensure the survival of this much-needed program, some Advocates want to make Social Security a needs-based program that prohibits wealthy Americans from collecting benefits. It is estimated this change would save our Treasury about $1.5 trillion each year and make Social Security solvent for the foreseeable future.
Opponents say this idea sets a dangerous precedent by excluding beneficiaries who paid into the system, and opens the possibility such an action could be applied to other groups of people in the future.
Proposed Legislation: Reintroduction of H.R.860 - Social Security 2100 Act (16th Congress 2019-2020)
Prospective Sponsor: Rep. John Larson (CT) |
- I oppose reforming current Social Security policy and wish to donate resources to the campaign committee of Speaker Kevin McCarthy (CA).
- I support reforming Social Security to keep it running until at least 2100 by:
1.) Setting the minimum Social Security benefit for retirees at +25% above the poverty line, so people are no longer “retiring into poverty.”
2.) Raising the income threshold at which one’s Social Security benefits start getting taxed, from the current $25,000 to $50,000 for an individual, and from the current $32,000 to $100,000 for a couple filing jointly.
3.) Collecting payroll taxes to help pay for Social Security on higher levels of income, from the current $132,900 maximum up to a new $400,000 level.
4.) Using a new formula to calculate the annual cost-of-living increases to Social Security benefits which has averaged +3.3% annually, slightly higher than +3.1% for the whole population at large.
And wish to donate resources to the campaign committee of Rep. John Larson (CT) and/or to an advocate group currently working with this issue.
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| Winning Option
»» No issues were voted |
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I support reforming Social Security to keep it running until at least 2100 by:
1.) Setting the minimum Social Security benefit for retirees at +25% above the poverty line, so people are no longer “retiring into poverty.”
2.) Raising the income threshold at which one’s Social Security benefits start getting taxed, from the current $25,000 to $50,000 for an individual, and from the current $32,000 to $100,000 for a couple filing jointly.
3.) Collecting payroll taxes to help pay for Social Security on higher levels of income, from the current $132,900 maximum up to a new $400,000 level.
4.) Using a new formula to calculate the annual cost-of-living increases to Social Security benefits which has averaged +3.3% annually, slightly higher than +3.1% for the whole population at large.
And wish to donate resources to the campaign committee of Rep. John Larson (CT) and/or to an advocate group currently working with this issue.
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- Representative
If elected as a trustee, the campaign committee of Rep. John Larson (CT) will be unconditionally awarded the funds pledged to this issue along with a letter requesting him to favorably consider either reintroducing H.R.860 - Social Security 2100 Act (16th Congress 2019-2020), or a similar version thereof.
- American Federation of Labor and Congress of Industrial Organizations
If elected as a trustee, the AFL-CIO will be awarded the funds pledged to this issue along with a letter requesting these funds be used to advocate for Social Security solvency and increased benefits.
About: The American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) works tirelessly to improve the lives of working people. We are the democratic, voluntary federation of 55 national and international labor unions that represent 12.5 million working men and women. We strive to ensure all working people are treated fairly, with decent paychecks and benefits, safe jobs, dignity, and equal opportunities. When NFIB speaks, legislators listen. They know that we bring them the voice of small business. That voice, hundreds of thousands strong, comes directly from NFIB’s members and our research—combined, they make a powerful and influential case for our advocacy.
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- No trustee votes received.
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| Poll Opening Date |
January 02, 2023 |
| Poll Closing Date |
January 08, 2023 |
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