Sanders Tells Seniors he Will Scrap The Cap – Clinton Open to Raising Retirement Age

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Meeting at a seniors’ center in New Hampshire on Friday, U.S. Sen. Bernie Sanders called for strengthening Social Security, raising retirement benefits and bringing down skyrocketing prescription drug prices.

Sanders told the gathering at the William B. Cashin Senior Activity Center that the most effective way to strengthen Social Security for the future is to make millionaires and billionaires pay the same share of their income as everyone else. Instead of capping income subject to the payroll tax at $118,500, as current law does, Sanders would make those earning $250,000 and up, the top 1.5 percent of wage earners, pay the same share into Social Security.

In New Hampshire, more than 42,000 seniors, orphans and disabled people rely on Social Security benefits, which last year averaged $14,987. Without Social Security, more than 41 percent of the elderly in New Hampshire, including more than 45 percent of senior women, would be living in poverty. With Social Security, the elderly poverty rate in New Hampshire is 5.7 percent.

Sanders has proposed legislation which would increase benefits by an average of $65 a month and lift low-income seniors out of poverty by expanding the minimum benefit. It also would base annual inflation adjustments on a formula that accurately measures the real-life spending patterns of seniors who pay a disproportionate amount of their income on health care and prescription drugs. To pay for the increased benefits, he would gradually scrap the cap on income subject to the payroll tax.

While he would strengthen the retirement program for future generations, Sanders stressed that Social Security has a $2.8 trillion surplus, enough to pay every benefit owed to every eligible American for the next 19 years.

Sanders visited the senior center two days after former Secretary of State Hillary Clinton, who in remarks at St. Anselm’s College, reportedly declined to back an across-the-board benefit boost, left open the possibility of raising the retirement age and stopped short of saying the wealthiest wage earners should pay the same percent of their income as everyone else.

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8 thoughts on “Sanders Tells Seniors he Will Scrap The Cap – Clinton Open to Raising Retirement Age

  • Avatar
    November 1, 2015 at 5:21 pm
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    I’m a 62 year young woman. I’ve always been paid as low as any of my employers were aloud. And most of the time I was a homemaker so my Social Security is only $598 I can’t live on this. And nobody has offered me a job since 2009. If Sec. Clinton raises the retirement age to 70 people like me will die on the job.

  • Avatar
    November 1, 2015 at 10:50 pm
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    Please, make the closing of the Part D “donut hole” a priority.(This is the time within Medicare that you pay 100% of the cost of your prescription meds.) I have several meds that have no generic equivalent and the prices are astronomical! The burden of this has meant the choice of food or meds. This shouldn’t be.

  • Avatar
    November 2, 2015 at 7:43 am
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    America NEEDS Bernie as president, our future depends on it!

  • Avatar
    November 2, 2015 at 8:14 am
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    With deep respect and gratitude for your years of work Ms. Gray,

    Secretary Clinton did not say she was going to raise the retirement age on individuals like you, or anyone for that matter. I invite you to read her words:

    “I would not favor raising the retirement age. And I don’t favor it because it might be fine for somebody like me, but the vast majority of working people who have worked hard and have had a difficult, maybe last couple of decades trying to continue to work, it would be very challenging for them. If there were a way to do it that would not penalize or punish laborers and factory workers and long-distance truck drivers and people who really are ready for retirement at a much earlier age, I would consider it. But I have yet to find any recommendation that I would think would be suitable.”

    Furthermore, all proposals currently on the table to alter the structure of Social Security (which is necessary since, if we leave it as is, it will disappear completely), do not impact people of your age. All the proposals currently being batted around to raise the retirement age does so for future recipients who are currently in their 40’s, not people who are mere years away from collecting.

    We will not be able to achieve the kinds of reforms necessary to ensure social security is there for your grandchildren, and your grandchildren’s grandchildren if we permit these kinds of scare tactics to blind us to a civil and math-based conversation about keeping Social Security solvent.

  • Avatar
    November 2, 2015 at 9:44 am
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    Kill the cap. LOWER the retirement age so our young people can have jobs, and let us retire at age 63 with minimum income of $2,000/month.

  • Avatar
    November 2, 2015 at 9:59 am
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    Every wage earner pays into the fund. But those who take the most from the wage earners pay none. That has to stop. Plus Social Security Fund needs to be repaid all moneys “borrowed by Congress to pay for the Iraq War.
    Give us back our pensions!

  • Avatar
    November 2, 2015 at 5:31 pm
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    Clinton will sell us out just like Bill did with NAFTA. She is a Wall Street whore.

  • Avatar
    November 2, 2015 at 10:01 pm
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    No —!!!! to raising retirement age.!!!
    Yes — !!!! To raising the Social Security cap.!!!

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