Expanding Social Security

Bernie Sanders intends to expand Social Security so that everyone in this country can retire with the dignity they have earned and everyone with a disability can live with the security they need. Social Security is the most successful government program in our nation’s history. Before Social Security was signed into law, nearly half of seniors lived in poverty.Bernie Sanders intends to expand Social Security so that everyone in this country can retire with the dignity they have earned and everyone with a disability can live with the security they need. Social Security is the most successful government program in our nation’s history. Before Social Security was signed into law, nearly half of seniors lived in poverty. Today, while much too high, the poverty rate for seniors is down to 9.2 percent. Social Security is not “going broke.” Social Security has a $2.9 trillion surplus and can pay every benefit owed to every eligible American for the next 16 years. Although Social Security’s finances are strong, Congress must strengthen and expand it for generations to come. At a time of massive income and wealth inequality, the wealthiest Americans in this country must pay their fair share into the system. Today, a billionaire pays the same amount of money into Social Security as someone who makes $132,900 a year because the Social Security payroll tax is capped. Bernie’s Social Security plan would lift this cap and apply the payroll tax on all income over $250,000 in order to accomplish four things. First, he will make sure that Social Security will pay every benefit owed to every eligible American for the next 52 years. Second, he will expand benefits across-the-board including a $1,300 a year benefit increase for seniors with incomes of $16,000 a year or less. Third, Sanders will lift millions of seniors out of poverty by increasing the minimum benefits paid to low-income workers when they retire. Fourth, he will increase cost-of-living adjustments to keep up with the rising cost of health care and prescription drugs by establishing a Consumer Price Index for the Elderly. Bernie Sanders is going to expand the Older Americans Act. As part of this expanded Older Americans Act, he will prioritize addressing social isolation among seniors. One in every four seniors lives alone. Today, one-third of seniors feels lonely. Sanders will provide grants to states, municipalities, and non-profits to implement innovative pilot programs to address this issue.
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