Chained CPI and Social Security

Republicans, some Democrats, and President Obama are pushing a backdoor way to make substantial cuts in Social Security and benefits for disabled veterans — a concept called chained consumer price index, or “chained CPI.”

Incredibly, they are arguing that the cost of living adjustments that seniors receive for Social Security are too generous.  That’s nonsense.  I, and many economists, believe they are not generous enough.

Recently, 17 colleagues and I joined Senator Tom Harkin to introduce a resolution stating our strong opposition to the use of chained CPI. 

That means there are 81 other Senators who have not signed that resolution to prevent cuts to Social Security.  These senators need to hear from you — today.

Please join me and our friends at Progressives United in calling your senators and asking them to sign the resolution today opposing the use of chained CPI.

If a chained CPI goes into effect, seniors who are 65 now will receive $650 less a year at age 75 and $1,000 less a year at age 85. Veterans who started receiving VA disability benefits at age 30 would have their benefits reduced by over $3,000 a year at age 65.  We must not allow that to happen.

Today, the wealthiest people in America are doing phenomenally well, corporate profits are soaring and the gap between the very rich and everyone else is growing wider and wider.  At a time when the middle class is disappearing, we must not balance the budget on the backs of the elderly, the children, the sick, and the poor.  We must not cut Social Security and other programs of enormous importance to the American people!

Today, the effective corporate tax rate is at its lowest level since 1972, and 1 out of 4 profitable corporations pays nothing in federal income taxes.  We are losing about $100 billion a year in revenue as major corporations stash their profits in the Cayman Islands and other tax havens.  We need a budget that ends these outrageous loopholes and demands that corporate America accepts its responsibility to help with deficit reduction.

Please, call today and urge your senator to reject any budget that includes chained CPI, or cuts Social Security, Medicare, or Medicaid.

Thank you for fighting to protect the middle class.”

Senator Bernie Sanders

Republican Moocher. Mooch: to get or take without paying or at another's expense; sponge: Um…

Would someone please tell Senator Sanders to go away.

We don’t need any independents in the Senate!

AARP: The Chained CPI and you

Republican Moocher. Mooch: to get or take without paying or at another's expense; sponge:Hey! Who do you trust more?

Some special interest group for seniors or Republicans for your wellbeing!

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