By Tom Laurent
As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full until 2035, after which the trust fund reserves are projected to become exhausted. When the reserves are used up, continuing the current worker payroll withholding tax will result in retiree benefits being reduced by 21% (ssa.gov).
Can we really trust the future of Social Security to Doug LaMalfa? He wants to privatize Social Security and those who are 49+ years old will be the first victims. Voting for LaMalfa is voting to reduce your Social Security benefits.
Doug LaMalfa describes his Social Security plan on his campaign web site: “Congress should work to preserve the benefits that those at or near retirement have anticipated, while also guaranteeing that future generations have the ability to control and plan for their eventual retirements.”
How do we know that LaMalfa wants to privatize Social Security? He says so on his campaign web site: “guaranteeing that future generations have the ability to control and plan for their eventual retirements.” Future workers having the ability to control their retirement means future workers will pay into their own personal retirement fund based on 401Ks, IRAs and ROTHs and not into Social Security. This would defund Social Security and end benefits.
How do you preserve Social Security benefits to current and future retirees when worker payroll taxes would be diverted into private retirement plans? LaMalfa has no idea.
A 2014 national survey showed that 85% of Americans said Social Security is more important than ever to ensure that retirees have a dependable income (www.nasi.org). LaMalfa wants to get rid of Social Security because his conservative beliefs dictate that he do this regardless of what the people in the district want.
We want Social Security to be stable in the long term and LaMalfa does not. LaMalfa does not care what the people in our district want.
Congress will have to increase funding for Social Security to preserve retiree benefits after 2035. There are only three ways to do this. One is increasing the payroll tax rate, another is raising the Social Security withholding tax salary cap above the current $128,400 and the third option is raising the retirement age to 68 or higher.
They have done these types of fixes over the past 50 years. Approximately 77% of people said it is critical to preserve Social Security even if it means increasing the Social Security payroll taxes paid by working Americans (www.nasi.org).
LaMalfa is always complaining about taxes being a curse on society and proudly states: “I am proud to have consistently fought against higher taxes and I pledge to you, the citizens of Northern California, to not increase your taxes.”
LaMalfa’s pledge to not raise taxes on the people in the district means he will do nothing to protect Social Security benefits for seniors when Congress works to resolve Social Security funding problems. LaMalfa’s no vote on raising payroll taxes will reduce Social Security benefits for all citizens who are currently 49+ years old.
Audrey Denney strongly believes in Social Security and will defend it against Republican attacks. She will vote to make it a rock solid program seniors can count now and into the future.
Keep your Social Security benefits and Audrey Denney in mind when you vote. Vote for Audrey on November 6th. You won’t be sorry you did.