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Millionaires Are Done Paying Into Social Security for 2024

Millionaires stop paying into Social Security for the year on March 1st --- and billionaires already stopped contributing wages to the program in January.  The rest of us continue paying into the system for the entire year.  Is it fair that Elon Musk, Rupert Murdoch, Charles Koch, and Tim Cook of Apple don’t have to contribute to Social Security for the rest of the year while most Americans do? 

2024-03-04T10:56:30-04:00March 1st, 2024|Payroll Tax Cap, Rep. John Larson, Social Security|

Congress Shouldn’t Enact “Death Panels” for Social Security & Medicare

NCPSSM sent a letter to Congress today urging representatives to reject the Fiscal Commission Act of 2023. This bill would establish a commission that would circumvent Congress’ regular order for considering Social Security and Medicare changes. The bill will be marked up in the House Budget Committee on January 18. Commissions of this kind are intended to squeeze every possible dollar of savings out of Social Security and Medicare without consideration for the adequacy of benefits.

2024-01-17T17:32:05-04:00January 17th, 2024|Congress, fiscal commission, Social Security|

FDR Would Be “Fighting Mad” About Assaults on Social Security, Says Grandson on New Podcast

President Franklin D. Roosevelt would be “fighting mad” about conservative attempts to undermine Social Security, says his grandson, Jim Roosevelt on the first episode of our new podcast --- released this week.

Sorry, Slate Magazine, We Don’t Need to ‘Radically Rethink’ Social Security

Conservative think tanks and publications have been very busy this fall pumping out propaganda designed to undermine Social Security.  Of course, the conservative movement has been working to weaken or eliminate the program since the 1980s, and its messaging seeps quite seamlessly into the mainstream media narrative about Social Security. A recent opinion piece in Slate magazine is the latest example of anti-Social Security propaganda from the political right.

Reassurance & Warning at Social Security Town Hall in Las Vegas

The message at Thursday’s NCPSSM/AARP town hall in Las Vegas was:  the government may temporarily shut down on September 30th, but Social Security is here to stay. The town hall, entitled “Social Security: Here Today, Here Tomorrow,” was an opportunity for nearly 100 Las Vegas residents to hear from some of the nation’s leading experts about the value of Social Security --- and to receive reassurance that benefits still will be paid during a shutdown.

Would a Government Shutdown Affect Social Security and Medicare?

First, the good news. Even if the government shuts down at the end of this week because of House Republican intransigence, Social Security benefits will continue to be paid and customer service for retirees should not get significantly worse. Now, the bad news. The impending shutdown is symptomatic of a disorder in Congress that seniors should care about:  MAGA hardliners once again gumming up the works of a government which best serves the public when operating smoothly, without needless disruptions.

House GOP Spending Proposal Would Slash Social Security Administration Funding

We don’t know exactly what the impact of any cut will be on SSA, but we do know they have already requested an increase of $727 million above current funding, as a minimum, for FY 2024.  Without this level of funding, they will be forced to reduce staffing and overtime, which will hurt the agency’s ability to serve the public.  Without that minimum level of funding, SSA’s customers will wait significantly longer for field office services, disability decisions, and phone support, and their already significant backlogs would increase.  

NCPSSM To Participate in Harkin Social Security Symposium in DC

The National Committee to Preserve Social Security and Medicare will participate in a special Social Security symposium hosted by former U.S. Senator Tom Harkin and the Harkin Institute of Drake University. Featuring NCPSSM President Max Richtman and other prominent leaders from the national advocacy community.

2023-09-05T14:48:36-04:00September 5th, 2023|Max Richtman, Rep. John Larson, Social Insurance, Social Security|

FDR’S Grandson Says This Is a ‘High Stakes Time’ For Social Security

Social Security — which turned 88 years old this month — is one of my grandfather’s greatest legacies. It’s no exaggeration to say that this is a high stakes time for his landmark program.  Powerful opponents of Social Security are calling for privatization, cutting the annual COLA, raising the retirement age, and even “sunsetting” the program.

2023-09-12T13:17:14-04:00August 22nd, 2023|Congress, Election 2024, Social Security|

Philadelphians Flock to NCPSSM/AARP Town Hall on Social Security

More than 150 Philadelphians turned out at Center in the Park for a town hall emphasizing Social Security’s importance to the Black community, co-presented by NCPSSM and AARP Pennsylvania. Attendees learned about their earned benefits and played Social Security-themed games — including Social Security Plinko and “What does Social Security Mean to You?”

“Social Security was our lifeline” says Richmond Mayor at NCPSSM/AARP Town Hall

The importance of Social Security to the Black Community could not have been clearer in Richmond, VA on Tuesday --- at the National Committee’s first town hall of a new public education campaign, “Social Security: Here Today, Here Tomorrow.”  The town hall was sponsored by AARP Virginia.

NCPSSM Launches New, National Social Security Campaign with AARP

The National Committee to Preserve Social Security and Medicare is launching a new public education campaign --- sponsored by AARP --- to correct misinformation about Social Security and emphasize the program’s value to American workers, especially to communities of color.  The campaign, “Social Security: Here Today, Here Tomorrow,” will debunk myths and give workers the facts about their vital earned benefits. 

Biden-McCarthy Debt Ceiling Deal Averts Disruption of Social Security, Medicare

Amid all the static about the debt ceiling deal that President Biden and Speaker McCarthy struck over the weekend, this much is certain: the deal is better for American seniors than a federal default. “The agreement represents a compromise, which means no one got everything they wanted,” said President Biden on Monday. “But that's the responsibility of governing.”

2023-06-01T09:28:42-04:00May 30th, 2023|Congress, Debt Ceiling, Democrats, GOP, President Biden|

Democrats Push for Strengthening Social Security in First Hearing of New Congress

The first hearing on Social Security of the new Congress saw Republicans claiming that they simply want information about the program’s status, while Democrats insisted that it’s time to boost Social Security --- and pushed back on GOP proposals to cut benefits.“ Today, we are faced with the fierce urgency of now. Five million Americans receive below-poverty level (Social Security) checks from their government because Congress has not enhanced benefits in more than 50 years,” said ranking member Rep. John Larson (D-CT).

Ohio Forum Focuses on Cutting Vs. Expanding Social Security

National Committee president and CEO Max Richtman brought the organization’s message of expanding and strengthening Social Security to Ohio today.  He participated in a forum in Sandusky, OH, co-sponsored by the local nonprofit, Serving Our Seniors. The forum, entitled, The Future of Social Security Retirement Income and Medicare Part A forum, was attended by more than two hundred citizens, mostly seniors who are already collecting Social Security.

Social Security is Not Going Bankrupt, But Needs to be Strengthened

In their report released on Friday, the Social Security Trustees projected that the program’s combined trust fund will remain solvent until 2034 – one year earlier than previously projected. At that time, the program still would be able to pay 80% of benefits. As of the end of 2022, the trust fund had $2.83 trillion in reserves. 

2023-04-03T12:27:14-04:00April 3rd, 2023|Uncategorized|

Senators’ “Bipartisan” Social Security Plan Would Slash Benefits

The National Committee to Preserve Social Security and Medicare has sent an urgent letter to Senators Bill Cassidy (R-LA) and Angus King (I-ME) expressing deep concern over a Social Security proposal reportedly taking shape under their names. The Cassidy-King plan would put Social Security on a slippery slope toward privatization — and ultimately cut benefits for future beneficiaries.

Today is the Day Millionaires Stop Contributing to Social Security for 2023

Today is the day most millionaires stop paying into Social Security for the rest of the year, while most of us will continue contributing FICA payroll taxes through the end of December.  The payroll tax cap for 2023 is $160,200 in annual wages.  As of today, people grossing $1,000,000 a year in wages have now exceeded the cap. 

2023-02-28T12:05:17-04:00February 28th, 2023|Joe Biden, Payroll Tax Cap, payroll taxes, Rep. John Larson, Social Security|

People With Disabilities, Pre-Existing Conditions Are Vulnerable to Social Security & Medicare Cuts

All but the most upper-income seniors would be hurt by cuts to Social Security and Medicare --- the kind which Republicans have been proposing in the name of “entitlement reform.” But older Americans with disabilities or pre-existing conditions would be hit especially hard.

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