Why America Needs a Social Security Increase
Older Americans need a Social Security Increase. The fact is that benefits have been too low for far too long. Social Security does not provide enough to live on, and it does not keep up with inflation and rising costs. Some recipients are barely getting by and do not have much time to wait for the changes they need.
Why are Benefits so low?
Social Security has not kept up with economic changes and recipients are suffering because of it. Every year an increase is approved, and every year it is too little. The Cost of Living Adjustment (COLA) is supposed to account for inflation and other expenses. However, the small increase is nowhere close to the rising costs of food and healthcare seniors rely on. The problem is that COLA is based on anticipated inflation rates for the year. While this sounds good, the reality does not take into account all actual costs for older Americans.
How Will a Social Security Increase Help?
Older citizens – members of the greatest generation – who have spent their lives working have already done their part and deserve to retire comfortably. Unfortunately, our present system makes this challenging. It is not feasible for most people to live on Social Security benefits alone. While we may think that these benefits will provide for us in retirement, many retirees find that they must have other income to survive. Some older Americans even find themselves living in poverty. A benefits increase could change lives for many Americans.
What is the Greatest Generation Benefits Act?
The Greatest Generation Benefits act would significantly increase benefits for those 82 and older. This bill would provide members of the greatest generation (those who lived through WW2 and Korea) with an additional $85 monthly and a 4 percent increase annually. This, of course, is much more than the 1.3 percent COLA increase for 2021.
Clearly, this bill is a great solution for our senior citizens and it has a lot of support from the people. Just look at the results of our nationwide survey. However, Congress needs to be convinced. You can help by signing our petition. Thank you for your support and check out The Greatest Generation for the latest updates.
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