General Discussion
In reply to the discussion: Social Security belongs to the American people. It is not Obama's to bargain with. [View all]JDPriestly
(57,936 posts)supplement their income. From what I can tell, Obama's plan would take money from the Social Security Trust Fund which was put into that fund to compensate for the stress on the system when the large generation of baby boomers retired to cover those additional benefits for the very poor. Those who would receive them are the people who did not put enough into Social Security during their working years to qualify for a larger benefit.
Looked at it objectively, it appears that Obama wants to take money from the Social Security Trust Fund to pay for the food stamps, etc. for this very poor group of seniors RATHER THAN FROM THE GENERAL FUND which is where it comes from now.
Thus, Obama claims to be raising the benefits for the poorest seniors, those under the poverty level, but what he is not saying is where that money will come from. And unless someone shows me evidence that I am wrong, I am saying that the money for the poorest is to be found by transferring the burden for the food stamps, etc. onto Social Security. To impose that additional burden on Social Security, as I understand it, Obama proposes to reduce the benefits for the people who paid enough in payroll taxes to qualify for the slightly higher benefits. Remember the average benefit is only between maybe $1200 - $1300 or so per month. The people getting the average benefits are only barely getting enough to be above the poverty level.
It's a scam on the lower middle class people (most Americans) who rely on Social Security for at least 90% to 100% of their income as they age.
Had this been introduced at a time when interest rates were high and those seniors who had saved could depend on income on savings beyond Social Security, then this plan might be acceptable and people would be hoodwinked. But everybody is hurting. Seniors have complained far less than others even though many of us would not have retired yet if jobs were plentiful. We have just accepted Social Security and drastically reduced our lifestyles.
But the chained CPI and the missed and reduced COLAs are just too hard a blow. This is why we are so angry.
And on top of it all, our children face huge debts for school and dare not start families or buy houses. And we do not want to burden them.
The military demands too much, far too much of our national income.