(Dec. 19, 2012) — President Obama has proposed to House Speaker John Boehner a “compromise” that lowers Social Security benefits over 10 years by 3% and over 20 years by 6%. This reduction in benefits is directed at a population whose medium income for those 65 and older is less than $20,000 per year.
The adoption of the Chained CPI proposed by the president, according to economist Dean Baker, significantly underestimates the impact of increased health care costs and other costs unique to seniors.
At the same time, the president proposes to to allow those individuals whose income is over $250,000 per year to continue with their Bush-era tax cuts. The higher tax rates in his new proposal would apply only to those who earn $400,000 per year or more.
Furthermore, the White House indicates this is not necessarily their final offer. It probably can and will get worse!
TAKE A STAND! Please call our U.S. Senators and your Congressional Representative again — toll-free at 1-888-659-9401 — and leave them this message:
1. Please do not vote for any compromise that includes cuts to Social Security, Medicare, or Medicaid. These include reducing Social Security benefits by adopting the Chained CPI or raising the age of eligibility on Social Security or Medicare. Please let the president know you, our elected representative, will not vote for such a compromise.
2. Please insist that any “compromise” must include an end to the Bush-era tax cuts on income over $250,000.
If you have called before, please do it again…it makes a difference. Multiple phone calls are essential!