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Home / Business / Advocates push 2020 Dems to tackle social security reform

Advocates push 2020 Dems to tackle social security reform



Democrats who face the 2020 presidential election regularly talk about protecting or expanding social benefits, but the question is far from the middle stage, and few offer a viable plan to keep the program solvent.

A report this week found that Trygdefond will run out of money in just 16 years, which means that beneficiaries will begin to see cuts in 2035 if nothing is done.

Candidates have lobbing fulys at hot button issues like Medicare for everyone, the green New Deal, elimination of the electoral college, and reprimanding President Trump Donald John TrumpPrevention is a critical tool in the fight against addiction. USMCA is a necessary outcome of Trump-induced uncertainty. Sam Donaldson beats Sarah Sanders: She has had & # 39; a lifetime premium Oscar for lying & MORE but is mostly mom about keeping social security in place, although several have signed the law lately.

It has led to frustration from stakeholders.

"No one has achieved a real pension monitoring plan at all," said Richard Fiesta, CEO of the Alliance of Retirees, a retirement lawyer. [19659002] Experts say keeping the program funded during 2035 is no easy task.

Stephen Goss, chief executive of the Social Security Administration, pointed out how difficult the situation followed the report's release this week, when the population ages and costs go up.

"The cost of paying for Social Security [and] is rising, mainly due to the changing age distribution of the population," he said on a forum hosted by the Bipartisan Policy Center on Tuesday. 19659002] Goss said that without measures, by 2035, the fund will be exhausted, and income coming from payroll tax would only cover less than 80 percent of the benefits.

Waiting to solve the problem would make the solution more painful.

"The previous changes are made, the less serious they must be," a responsible federal budget (CRFB) emerged in an analysis of the report.

Determining the problem today will require either a 22 percent increase in payroll tax, a 17 percent cut in existing benefits, or a 20 percent cut to new benefits, but a comprehensive solution will likely include some balance between the three.

"Waiting until 2035 will increase the necessary adjustments to general taxes and benefits by over a third and will make it impossible to save social security with changes for new recipients alone," the Group noted.

Social Security is one of America's most popular programs, which has made it a third line in US politics. Both parties have attacked the other for plans they say would cut retirement benefits.

As a candidate, President Trump promised to protect privacy, and right in front of the center in 2018 claimed that Democrats were trying to pull it apart.

"We save social security. Democrats will destroy social security," he said in September.

Democrats have held Republican plans to cut mandatory social security spending targets and related anti-poverty programs, including Medicare and Medicaid.

But when it comes to the 2020 race, most Democrats do not have security security issues at their electoral sites at all, and those who have not made social security a centerpiece in their campaigns.

One exception has been late. Bernie Sanders Bernard (Bernie) The SandersBiden campaign states that it will not accept support from super-PACs Moulton: Sanders, Warren for liberal to beat Trump by 2020 Chasten Buttigieg emerges as Mayor Pete's secret weapon MORE [19659005] (I-Vt.) The website has a call to expand the national insurance benefits and expand the life insurance fund by taxing the rich. Nonsense, only on the first $ 132,900 of salary. would reintroduce payroll taxes for dollars earned over $ 250,000.

Sanders says his plan would expand solvency to 2071, a 36-year increase, while also expanding benefits. 2020 challenges Sens. Kirsten Gillibrand Kirsten Elizabeth GillibrandBiden campaign says it will not accept support from super PACs. Meet the 2020 spouses who could make history. Overnight Defense: Trump tells the NRA that he should withdraw from the arms deal | Pentagon to expand the troop's role at the border | Warren offers plans to improve military housing MER (DN.Y.), Kamala Harris Kamala Devi HarrisBiden campaign says it will not accept support from super PACs Schiff: Only way to deal with Trump is to "Vote his ass out of the office" Warren swipes on Biden for swanky private fundraiser MORE (D-Calif.), And Cory Booker Cory Anthony BookerBid campaign says that it will not accept support from super PAC Dems raises prejudice problems with promises against male runners Chasten Buttigieg emerges as Mayor Pete's secret weapon MER (DN.J.) is co-sponsor.

But experts note that the plan is delaying the problem Instead of resolving it, some think it will only change revenue from general taxes against social security, which will end up creating flaws elsewhere.

Sen. Elizabeth Warren Elizabeth Ann The WarrenBiden campaign says it will not accept the support of super-PACs Schiff: The only way to deal with Trump is to "vote for the butt out of the office" Moulton: Sanders, Warren for the liberal to beat Trump in 2020 MORE (D-Mass.), which Having led the field when it comes to drafting political proposals, she does not mention her social security schemes on her website. However, Warren advocates raising the payroll cap as a whole, an approach the Alliance retirees would avoid creating a "reverse donut hole" of revenue and helping to stabilize the fund.

created Expand Social Security Caucus.

In the house, a bill sponsored by Rep. John Larson John Barry Larson Democratic proposal to overtake health care: A 2020 primer Democratic senators uncover & # 39; Medicare X & # 39; bill to extend coverage Stop asking parents to sacrifice social security benefits for paid family vacation MER (D-Conn.) Would renew the $ 400,000 payroll tax, but also gradually increase how much people have to pay. The Social Security Administration said the two courts would keep the fund solvent over the 75-year-old window they are analyzing, even with the greater benefits.

Reps. Eric Swalwell Eric Michael SwalwellDems claims prejudice with promises against male runners. Chasten Buttigieg appears as mayor Pete's secret weapon Julián Castro: Trump should be prevented from preventing justice "in very specific ways" More (D-Calif.) And Seth Moulton Seth Wilbur MoultonMoulton: Sanders, Warren for Liberal to beat Trump in 2020 Overnight Defense: Trump tells NRA he will pull us from the arms treaty | Pentagon to expand the troop's role at the border | Warren offers plans to improve the military residence Presenting the 2020 Democratic Bracket MORE (D-Mass.), Both of which run for the Dem nomination, signed as co-sponsors.

Tim Lim, a partner at NEWCO Strategies, a democratic political strategic consulting firm, says the question does not get as much attention from democrats as it did a decade ago because Republicans do not make an active effort to rework the program as they were then.

"I think it is because Republicans are not campaigns hard on privatization, he says.

It may also feel less urgent to voters than other headline issues.

" The difference between social security and climate change is that you can See the real effects of climate change happening. You see hurricanes and tornadoes and insane temperatures, says Lilm.

But democrats can do well to give it more attention.

According to a survey by the National Institute for Retirement Security, 80 percent of Democrats believe the nation is facing a pension crisis, making 75 percent of Republicans and Independent.


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