Social Security 2007
1. Social Security is more than just a retirement program. It provides life insurance to the spouse and young children of workers who die and it protects workers who become disabled and are unable to support their families.
2. Social Security does exactly what it was designed to do. It gives people a secure, basic income protected against inflation for as long as they live.
3. Social Security contributes to the well being of Americans by providing a foundation for retirement income that permits seniors to live in dignity.
4. Social Security is the largest single source of income for America’s retirees. Two-thirds of Social Security beneficiaries rely on Social Security for most of their income.
5. Without Social Security, nearly half of all retirees would fall into poverty.
6. Social Security is portable when you are working – you can take it from job to job.
7. Social Security is universal – 96 percent of Americans are covered by its protections.
8. It is progressive; its benefit formula provides a proportionally higher benefit to low and middle income Americans than to high income individuals.
9. The value of the life insurance provided to survivors through Social Security is over $400,000.
10. The Social Security Trust Funds are secure for at least another 35 years. After that with no changes, the Trust Fund would still continue to pay over 74% of the promised benefits. Social Security is not in a crisis.
11. Social Security is a well run government program. The administrative cost is less than 1% of the outlay of funds.
A Guarantee Not A Gamble
Source: National Committee to Preserve Social Security and Medicare
2 comments:
Charlie, that's a wonderful description of the benefits of SS. But good policy analysis identifies both costs and benefits.
What do you think about a policy which takes $3,000 annually from a 25-year-old head of household who makes $25,000 per year?
I agree. It is a wonderful description.
The question is misleading, however. The actual amount this person would be taxed for Social Security is $1550.
Post a Comment