Updated: Jun 7
Social Security should never be on the chopping block, but alone it is insufficient to provide most American retirees a comfortable income. This will only get worse in the context of an extended global pandemic. We must expand our safety nets to raise the standard of living for elderly/disabled individuals and assist them in taking the necessary precautions to weather the COVID-19 crisis.
1. Remove Earnings Cap on Social Security
This will immediately increase solvency.
2. Increase Social Security Benefits
Increase Social Security benefits to all recipients. Current benefit amounts are woefully insufficient.
3. Social Security Matching
Require companies with more than $1 billion USD in annual revenues to match their workers’ Social Security contributions in addition to employer-paid Social Security.
4. Company Pension Funding
Require companies with more than 20 employees to pay into pension funds that all their workers qualify for, regardless of hours worked per week or job description.
5. State Pension Funding
Require all states to fully fund pensions for all public workers.