A budget, recently proposed by the Republican Study Committee (RSC), calls for more than $1.5 trillion in cuts to Social Security, raising the retirement age to 69 “to account for increases in life expectancy,” and cutting disability benefits. These “increases in life expectancy” are true for top earners. However, low-income and low-wealth individuals have not shared in these improvements. Since the 1980’s, government policies to reduce tax rates and shrink social safety nets have led to a significant increase in income inequality, which coincides with disparities in health and longevity. Further slashing these earned benefits would only exacerbate the…
Thank you for this thoughtful article, Laurie! I appreciate your discussion of the specific impacts of cutting Social Security. It is hard to read because the Fiscal Commission ignores the true facts about Social Social Security and Medicare! To contemplate cutting Social Security, which does not add to the federal deficit, while simultaneously contemplating tax cuts for wealthy individuals and corporations, is reprehensible!