Senator Sanders is not a socialist. His statement about being a socialist is to prove to any detractors he is not afraid of the word politically, but, his vote for the ACA proves he is consenting to a capitalism system for healthcare. He is very concerned for the people of the USA and his call for increases of SSI is another one of those "I don't care what others say, this is necessary."
By Pat Garofalo
...The self-described democratic socialist from Vermont (click here) – who is running for the Democrats' 2016 presidential nomination, although he is an independent – wants to not just preserve Social Security, but expand it. "We should not be talking about cutting Social Security benefits. We should be talking about expanding benefits to make sure that every American can retire with dignity," Sanders said recently in a statement accompanying a bill to increase Social Security benefits by $65 per month.
Sanders' position flies in the face of years of Washington conventional wisdom and the stance of most of the professional commentator class, which holds that Social Security is going "broke" and that benefits will inevitably have to be cut. How to do so, not whether, is the subject of debate, with the elusive "grand bargain" to "save" entitlements the holy grail of American politics....
I am worried about the current work force and the years of poverty they have experienced. Their payments into their SSI accounts are far less than their parents or grandparents. Their final benefit is going to cause significant strain on the USA treasury when even with retirement they are dependent on food stamps and other social programs that may be necessary such as help with the cost of housing.
The Summary of the 2015 Annual Reports (click here)
The tables below are from the 2015 Annual Report.
In 2008 there was a collapse of the financial markets that also effected the SSI trust fund. And, yes, there is a SSI trust fund. If I remember correctly, there was about $2 trillion lost in value in the trust funds.
That loss also has to be made up, hence the need in changing the cap on current payment rates. And I really don't want to hear how the rich are getting hit with more taxes than anyone else. Well, the wealthy also received the benefits of the global economic collapse that was met with three episodes quantitative easing from the Fed. There is no reason to ignore the damage done to the fund and put the money back through the same mechanism that is going to extend the solvency of the funds into the future.
But, to address the issue of expanding SSI benefits, the reality of the working poor and the lack of an increase in minimum wage is simply scary for their future.
As a country we have to ask ourselves do we believe every person who works for a living deserves a comfortable retirement? The time after 2008 has really caused problems for the people hurt the worst. They have problems now, but, the future into retirement is not that promising.
So, when Senator Sanders speaks about increasing Social Security Insurance payments to citizens I can understand and sympathize with his statements. There is a need now for those disabled and in the future for the working poor. They have lost many productive years of higher earnings due to no fault of their own. I congratulate Senator Sanders in identifying this issue and speaking to it.
By Pat Garofalo
...The self-described democratic socialist from Vermont (click here) – who is running for the Democrats' 2016 presidential nomination, although he is an independent – wants to not just preserve Social Security, but expand it. "We should not be talking about cutting Social Security benefits. We should be talking about expanding benefits to make sure that every American can retire with dignity," Sanders said recently in a statement accompanying a bill to increase Social Security benefits by $65 per month.
Sanders' position flies in the face of years of Washington conventional wisdom and the stance of most of the professional commentator class, which holds that Social Security is going "broke" and that benefits will inevitably have to be cut. How to do so, not whether, is the subject of debate, with the elusive "grand bargain" to "save" entitlements the holy grail of American politics....
I am worried about the current work force and the years of poverty they have experienced. Their payments into their SSI accounts are far less than their parents or grandparents. Their final benefit is going to cause significant strain on the USA treasury when even with retirement they are dependent on food stamps and other social programs that may be necessary such as help with the cost of housing.
The Summary of the 2015 Annual Reports (click here)
The tables below are from the 2015 Annual Report.
That loss also has to be made up, hence the need in changing the cap on current payment rates. And I really don't want to hear how the rich are getting hit with more taxes than anyone else. Well, the wealthy also received the benefits of the global economic collapse that was met with three episodes quantitative easing from the Fed. There is no reason to ignore the damage done to the fund and put the money back through the same mechanism that is going to extend the solvency of the funds into the future.
But, to address the issue of expanding SSI benefits, the reality of the working poor and the lack of an increase in minimum wage is simply scary for their future.
As a country we have to ask ourselves do we believe every person who works for a living deserves a comfortable retirement? The time after 2008 has really caused problems for the people hurt the worst. They have problems now, but, the future into retirement is not that promising.
So, when Senator Sanders speaks about increasing Social Security Insurance payments to citizens I can understand and sympathize with his statements. There is a need now for those disabled and in the future for the working poor. They have lost many productive years of higher earnings due to no fault of their own. I congratulate Senator Sanders in identifying this issue and speaking to it.
