The time to act is now. Confronting the economic disparities that plague our nation is essential for the creation of a more just and inclusive society.
Will you stand with me and fight for a strengthened economy?
A Commitment to
Retirement With Dignity
For over eight decades, Social Security has been the cornerstone of retirement security in the United States, embodying the promise of a dignified retirement for all Americans. As we face the challenges of the 21st century, the importance of Social Security cannot be overstated. An increasing number of workers are approaching retirement without savings and a significant portion of seniors relying on Social Security for the majority of their income. It is clear that now, more than ever, we must take decisive action to strengthen and expand this vital program.
The Current State of Social Security
Today's reality paints a concerning picture for the future of retirement security:
- Over half of workers aged 55-64 have no retirement savings, placing them in a precarious position as they approach retirement.
- More than a third of senior citizens rely on Social Security for the majority of their income, underscoring the program's role as a lifeline for older Americans.
- Alarmingly, 20% of the nation's seniors subsist on a meager $8,300 per year, highlighting the urgent need for enhanced benefits.
- Furthermore, the existing cap on taxable income means that individuals earning over $118,500 contribute the same dollar amount to Social Security as billionaires, a clear inequity in the system.
My Proposal for Reform
- Lift the Cap on Taxable Income: We will remove the current cap on taxable income, ensuring that individuals earning over $250,000 annually contribute the same percentage of their income to Social Security as middle-class working families. This measure will foster a fairer contribution system and significantly increase the program's revenues.
- Expand Benefits: We propose an expansion of benefits by an average of $65 per month, coupled with an increase in cost-of-living adjustments. These enhancements will directly benefit retirees, providing them with greater financial security and the ability to live with dignity in their golden years.
Ensuring Long-Term Solvency and Fairness
By removing the cap on taxable income, we can secure the future of Social Security, extending its solvency for the next 50 years and benefiting all Americans alive today. This reform is not just a financial necessity; it is a moral imperative to uphold the promise of retirement security for current and future generations.
A Renewed Commitment to American Retirees
All Americans should look forward to a retirement marked by dignity and respect. By taking bold steps to reform this program, we can guarantee that Social Security continues to serve as a reliable foundation of retirement security for decades to come. Together, let's renew our pledge to America's seniors and future retirees, affirming our unwavering support for a program that embodies our nation's values of fairness, compassion, and respect for our elders.
