Why Increase Social Security Benefits?
With a push to increase Social Security benefits for older Americans, some might question why it is important. However, those who rely on these benefits understand all too well why a change is needed. We are urging Congress to pass the legislation we call The Greatest Generation Benefits Act. This bill would significantly increase benefits for Americans over the age of 82. These are the Americans from the era of WW2 and Korea. They are the greatest generation, and they deserve more. Here’s why we believe this change is needed.
Social Security is Not Enough to Live on
Social Security benefits are simply not enough to live on without a supplementary retirement plan. After decades of working, retirees often find that Social Security won’t pay their basic bills, much to their surprise. People incorrectly assume that once they have reached retirement age, Social Security will provide for them, but this is not the case.
COLA Does Not Match the True Rate of Increased Costs
The annual Cost of Living Adjustment is based on the idea of raising benefits to adjust for projected inflation rates and other expenses. However, the increase fails to meet with actual rising costs. For example, the COLA for 2021 was only 1.3 percent. This is much less than just the annual increase in medication costs. COLA does not offset inflation and other costs, and Americans suffer because of it.
Americans Deserve to Receive What They Have Earned
Part of what makes America great is the opportunity of all people to achieve success and and enjoy the fruits of their labor. However, we currently have a system in which people spend their lives paying in to a system that doesn’t pay them back. We believe that those who have spent their lives working, and especially those who sacrificed during WW2 and Korea, should get every penny they earned.
The Greatest Generation Benefits Act is the best way to give back to those who gave the most. Not only do we strongly support this bill, but it has a great deal of public support. As you can see in question 4 of our nationwide survey, more than 93 percent of respondents answered in favor of passing this bill. However, we still need to convince Congress. One great way you can help us do this is by signing our petition. Thank you for your support, and be sure to follow us on Facebook and Twitter for the latest updates.
