Social Security is a vital program for millions of Americans, and it’s only getting more important as the population ages. So it’s no surprise that there have been a number of political debates about the program lately.
But there’s a silver lining to all this arguing: it could actually be good for Social Security. Since the program is set to face some financial challenges in the coming years, the more attention it gets from lawmakers, the better.
Recent Arguments About Social Security
According to a recent article from Forbes, both sides of the aisle are currently working on Social Security reform proposals. And while it’s still early days, the fact that there’s bipartisan interest in fixing the program is a good sign.
Some ideas from the Republican party include increasing minimum benefits for those who have worked for at least 40 years while reducing benefits for high earners. Other ideas involve sunsetting both Social Security and Medicare entirely, which would force lawmakers to come up with a new solution
Meanwhile, on the other side of the aisle, the Democrats’ proposed changes include increasing the Social Security tax base. The article also brings up Social Security 2100, a bill that was introduced last year with the goal of ensuring the program’s long-term solvency. If passed, the bill would gradually increase payroll taxes and benefits.
The Seniors Center
While Democrats and Republicans may have different ideas about how to reform Social Security, at The Seniors Center, our hope is to see a bipartisan solution that places focus where it needs to be—on ensuring that seniors can retire with dignity and security.
Arguing about Social Security might not be pleasant, but it could be the key to preserving this vital program. If you’re interested in learning more about our plan to save Social Security, be sure to follow us on Twitter and Facebook!