What Mike Bloomberg wants to do to your Social Security

[Yo_Mama_Been_Loggin]

The 2020 presidential campaign is now in full stride, as early primary and caucus results have already started to thin the field. Yet in many ways, former New York City mayor Mike Bloomberg is just getting started with his campaign, having joined the race relatively late.

For tens of millions of older Americans, no issue facing the candidates is more important than Social Security. Bloomberg recently said how he'd handle the challenges facing Social Security, and although he didn't give quite as many specifics as some of his peers on the campaign trail, the plan still contemplates some significant changes.

Bloomberg set out a four-point plan for Social Security:

Consider options for protecting Social Security's finances as well as the benefits of its neediest participants.

Provide better minimum benefits for low-income retirees.

Change the formula for calculating cost-of-living adjustments (COLAs).

Fix other problems within the Social Security program.

-more-

https://www.msn.com/en-us/money/retirement/what-mike-bloomberg-wants-to-do-to-your-social-security/ar-BB105HBf?li=BBnbfcL

[Squinch]

1. Looks incomplete but seems to have the right goals.

[DanTex]

2. Well, as of a week ago that's what he wants to do.

For the 20 years before that, he wanted to cut Social Security to reduce the deficit...
https://www.democraticunderground.com/1287534231

[rzemanfl]

4. I keep hoping. n/t

[George II]

6. So did Sanders a while back. He's on video too; it's been posted here a few times already.

[DanTex]

10. LOL. No, he didn't. Bloomberg has been consistently in favor of cutting SS for 20 years.

He didn't waffle, that was his position. Cut benefits to reduce the deficit. He wrote about it, talked about it, promoted it, all over.

Bernie, I guess, has waffled, in that sometimes he's advocated protecting SS, and other times he's advocated increasing SS, and other times he's advocated increasing SS even more than that.

Sorry!

[George II]

11. No, Bloomberg hasn't and yes, Sanders is on video saying "adjustments are needed", i.e., cuts!

[rzemanfl]

3. Misleading headline. "[D]o about Social Security" would be better. Bad lede MSN. n/t

[Yo_Mama_Been_Loggin]

7. The article is by Motley Fool FWIW

[rzemanfl]

9. Thank you. MSN picked it up.

It is misleading nonetheless.

[George II]

8. I saw that too, "about" or "for" would have been better, but this one probably garnered...

...more attention.

All in all, thought, it's a positive OP and development.

[George II]

5. Sounds good to me. I wonder if he's got anything in his plan to raise the cap?