Bush's Benefit Cuts to Shift Social Security from Retirement to a Welfare SystemSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


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Bush's Benefit Cuts to Shift Social Security from Retirement to a Welfare System
 


29 April 2005 at 1:54:09 PM
salon

Does it matter to you if you get the same benefit as others do after paying more of your income into social security, that is that your retirement benefit would be largely unrelated to your income? That's what Bush is proposing. Also, he said the larger social security benefits would go to those who are better off-that is marked at someone who makes less than $20,000; you make more? your benefits are cut. Think Progress also points out that the cutoff for the "better off" is different than the cutoff Bush used when promoting tax cuts-that cutoff was $100,000 per year-quite a difference-low income redefined from $100,000 per year to $20,000 per year when it comes to retirement funds.

Center on Budget and Policy Priorities

Analyzing "progressive price indexing"

  • Progressive price indexing would impose substantial benefit reductions on average workers.

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