Sunday, September 25, 2011

Bernie Sanders Asks For Your Help To Save Social Security

Senator Bernie Sanders is still doing his best to save Social Security as we know it. Now he is asking for your help. He wants you to sign on as a citizen co-sponsor of the Keeping Our Social Security Promises Act. Here is what he has to say:

Republicans hate Social Security because it has been an extraordinary success and has done exactly what it was designed to do.  It is the most successful government program in our nation's history and is enormously popular.

When Social Security was developed, 50 percent of seniors lived in poverty.  Today, that number is 10 percent -- still too high, but a testament to the success of Social Security.

Republicans have spent years demonizing Social Security and spreading lies about its sustainability.  They want to scare Americans and build support for making drastic cuts to the program or privatizing it entirely.  Their long-term goal is to end Social Security as we know it, and convert it into a private account system which will enable Wall Street to make hundreds of billions in profits.  

The truth is that today, according to the Social Security Administration, Social Security has a $2.7 trillion surplus and can pay out every benefit owed to every eligible American for the next 25 years.

Further, because it is funded by the payroll tax and not the U.S. Treasury, Social Security has not contributed one nickel to our deficit.

Now -- in a prolonged recession that has decimated the poor and middle class and pushed more Americans into poverty than at any point in modern history -- we need to strengthen Social Security.  That's why I, along with 9 co-sponsors, have introduced the “Keeping Our Social Security Promises Act.”  This legislation would lift the Social Security Payroll tax cap on all income over $250,000 a year, would require millionaires and billionaires to pay their fair share into the Social Security Trust Fund, and would extend the program for the next 75 years. 

For 76 years, through good times and bad, Social Security has paid out every benefit owed to every eligible American.  The most effective way to strengthen Social Security for the next 76 years is to scrap the payroll tax cap for those earning $250,000 a year or more.

Right now, someone who earns $106,800 pays the same amount of money into Social Security as billionaires like Bill Gates and Steve Jobs.  That is because today, all income above $106,800 is exempt from the Social Security tax.  As a result, 94% of Americans pay Social Security tax on all of their income, but the wealthiest 6% do not.

That makes no sense.

The “Keeping Our Social Security Promises Act” will ensure the long-term solvency of Social Security without cutting benefits, raising the retirement age or raising taxes on the middle class.

Join me and Democracy for America in fighting to strengthen Social Security -- Sign on as a citizen co-sponsor of the Keeping Our Social Security Promises Act.

Social Security is keeping tens of millions of seniors out of poverty today.  I can think of no more important issue facing our country today than making sure that Social Security remains strong for generations to come.

Thank you, 

Senator Bernie Sanders


  1. I'm helping to save Social Security in my own way.

    Rather than start drawing from the system in six months (which, at age 62, is my legal right), I plan on continuing to pay into it for another 8 years and not start drawing until I'm 70 (if at all).

    The less each able-bodied citizen relies on government largesse, the more money will be available for the people who really and truly need it.

  2. It's nice that you are in such a good situation, but there are many who aren't -- and it's for them that Social Security must be saved.


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