According to the National Council on Aging, one-third of senior households have no money left over each month or are in debt after meeting essential expenses. Approximately half of married seniors and 70% of unmarried seniors rely on Social Security for at least half of their household income. Over 25 million Americans over 60 are living on less than $30,000/year. Meanwhile, the cost of prescription drugs are skyrocketing and in places like South Florida, seniors face a massive shortage of affordable housing.
When Franklin D. Roosevelt introduced Social Security, he described it as a cornerstone of a new safety net, not a completed project. In fact, the original Social Security plan included a single-payer, national health insurance program to cover every American. President Roosevelt’s Labor Secretary Frances Perkins, the first woman to ever serve in a presidential cabinet, was the brains of the New Deal, and her vision for Social Security was one of a continuing system of providing economic security to all people. It’s time we honored Frances Perkins’ vision and expanded Social Security.
But isn’t Social Security bankrupt?
In short, no. Social Security, like the Post Office, is forced to internalize future obligations for decades into the future. No company has to do this, but we force Social Security to go through this bizarre accounting ritual that allows cynical politicians to demand cuts to benefits in order to make the program solvent. Let’s be clear. Social Security has a surplus, and it has always paid for itself through payroll taxes. Rather than slash benefits to extend the buffer for obligations down the road, we should invest the surplus in expanded benefits for current and future recipients.
We can afford to expand Social Security and provide real economic security to all people. We just need leaders with the political courage to get it done.
What Social Security Reform Proposals Does Jen Perelman Support?
Eliminating the cap – currently $132,900 is taxable income – on Social Security so that upper income earners pay their fair share into the system
Tripling the minimum benefit paid to low-income workers from $901/month to $2,703/month
Expanding benefits across the board by adjusting the formula to yield an average monthly benefit payment of $3,200/month
Applying Social Security taxes to investment income
Creating an extra Social Security tax bracket for individuals making more than $250,000/year and households making $400,000/year
Fully funding the Social Security Administration to undo decades of ruthless austerity
Removing the Windfall Elimination Provision and the Government Pension Offset, two provisions that reduce public sector workers’ benefits
Restoring Social Security dependent benefits to students whose parent is on disability or has died
Allowing for early retirement with full benefits at 55
Fulfilling Frances Perkins’ vision for Social Security and finally passing Medicare for All, a universal single-payer healthcare system that covers all essential healthcare including dental, vision, prescription drugs, and long-term care
To check out Jen Perelman’s entire platform, go HERE.
But remember: I only work for YOU; I only answer to YOU.
In reason, passion, and justice,
Jen Perelman For Congress
PO Box 291332
Davie, FL 33329