Save Social Security

Social Security wasn’t taken seriously until I retired. Now I pay close attention. Recently the Republican Study Committee unveiled a budget that calls for cutting Social Security benefits. They say that Social Security will run out of money within the next 10 years. Instead of looking for funding, they propose cutting benefits and raising the retirement age.

I’ve never heard them speak of running out of money for government pensions. They always seem to find the money for congressional raises. But when it comes to a benefit we paid into our entire work lives, then we’re short of money!

There does seem to be a solution. Bernie Sanders is a sponsor of the “Social Security Expansion Act.” It would increase our benefit, fund Social Security for 75 years and pay for it by taxing the rich more. U.S. Sen. Bob Casey, D-Pa., introduced the “Boosting Benefits and COLAs for Seniors Act.” It would fund Social Security by raising the payroll tax or increasing the Social Security payroll tax income limit beyond the current $168,600. That means you paid Social Security tax on every dollar you earned last year. Tim Cook of Apple paid Social Security taxes on the first $168,600 he made. It took him about two hours to reach the cutoff. If the top 10 CEOs paid Social Security tax on all their income, including stock options, it’s estimated the system would have received $3.4 billion in 2023.

To our elected representatives on the Republican side, it would make more sense to give us back less of our money and makes us work longer for it. I’d like to know how our representatives and senators from Arkansas feel about this. Surely they’d eagerly vote for one of the proposals. I, for one, would urge a “yes” vote.

JOE ZAMORA

Monette