Posted 1 year ago on Nov. 6, 2013, 10:09 p.m. EST by GirlFriday
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Congress is again suggesting entitlement reform (earned benefits), basically a cut to Social Security, Medicare and Medicaid. Social Security does not contribute to the debt and has been earned. Social Security has a trust of $2.8 trillion and currently has enough to pay full benefits until 2033. After 2033, money from current payroll taxes covers 3/4 of those benefits. Earned benefits need to be strengthened, not cut. There are two bills before Congress that do just that: S.567 (Sen. Tom Harkin D-IA) and HR.3118 (Rep. Linda Sanchez D-CA-38) These bills assure solvency by taxing all wages fairly. People making over $113,700 aren't taxed on earnings above that. They allow for better COLAs, and offer a Caregiver Credit for those of us who quit jobs to care for our family members. By using the CPI-E benefit formula, beneficiaries could see an approximate $70 monthly increase.
Thank you Ms. Brown for picking up the slack where the media won't.