Dem Senators: We're Doing It Wrong, Let's Expand Social Security

[muriel_volestrangler]

Their pitch is to grow Social Security benefits by attaching it to a new formula, known as CPI-E (Consumer Price Index for the Elderly), which is based on the theory that seniors face higher-than-average price increases, such as on health care and housing. It would be paid for by phasing out the cap on wages subject to the payroll tax, which is currently $113,700. Supporters say this would raise Social Security compensation for all beneficiaries by $70 per month.

Legislation to this effect was introduced earlier this spring by Sen. Tom Harkin (D-IA), the chairman of the Senate Health, Education, Labor & Pensions Committee. The Strengthening Social Security Act of 2013 has since been co-sponsored by Sens. Brian Schatz (D-HI), Mark Begich (D-AK) and Sherrod Brown (D-OH), who added his name this week.

Progressive activists are touting the bill, eager to shift the terms of the debate from how much to cut retirement benefits to ways to increase them. The AFL-CIO, the nation's largest labor union, wants to expand Social Security. Liberal activist groups including MoveOn.org and the Progressive Change Campaign Committee have made it their new rallying cry.

"Senator Brown's endorsement of expanding Social Security benefits is a clear sign that Democrats are ready to go on offense after winning the government shutdown, after years of playing defense," said PCCC's co-founder Adam Green. "[O]ur polling shows that expanding benefits is super popular even in deep red states like Texas and Kentucky. Progressives are on offense, and we're not looking back."

http://talkingpointsmemo.com/dc/liberals-expand-social-security-don-t-cut-it

[Scuba]

1. Where do I sign?

[Autumn]

2. Good, about time.

rec