Social Security
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| Sat, 09-25-2004 - 9:00pm |
Social Security Benefits keeping elderly out of poverty "Without Social Security, which in January 2004 provided households an average benefit of $863 a month (around $10,000 a year) about half the elderly in America would fall below the poverty line. (Source: "Issue Brief: Social Security Privatization - Eleven Myths", The Century Foundation, March 1, 2004. Page 5.)
Social Security vital to women Social Security is especially important for women; nearly two-thirds of women 65 and over get a majority of their income from Social Security, and nearly one-third rely on Social Security for 90% or more of their income. (Source: "The Truth is Out There," National Women's Law Center, 02/25/2004
Social Security privatization would hit Latinos especially hard Like other groups with relatively low average wages, Latinos depend heavily on Social Security guarantees. Transforming Social Security into a system of private accounts would be most beneficial to people who earn high wages and threaten the bedrock of retirement income for most Latino workers. (Source: Setting the Record Straight Social Security Works for Latinos, The Century Foundation, page 1, May 2002.)
Social Security Trust Fund squandered by Bush Administration When the President took office, the government was projected to save every dollar of the Social Security surplus. But under his $1 trillion tax break plan, the Bush Administration would spend every penny of the Social Security Trust Fund over the next 10 years, just as the Baby Boomers are about to retire. (Source: "New CBO Report Puts Deficit At $1.8 Trillion...," Center on Budget and Policy Priorities, March 10, 2002.) Social Security survivor benefits help African-American children A 2000 report by the National Urban League Research and Public Policy Department estimated that African-American children are almost four times more likely to be lifted out of poverty by Social Security survivor benefits than are white children. (Source: The Impact Of Social Security On Child Poverty, Nat'l Urban League Research and Public Policy Department, May 2000)
20% expected to retire near poverty Almost 20% of all near-retiree households, i.e., between the ages of 47 and 64 in 1998 (the last year for which data are available), could expect to retire in poverty. Also, 43% of the same households are expected to be unable to replace at least half of their current income at retirement based on their wealth in 1998, up from 30% of households in this age group in 1989. (Source: "Issue Guide on Social Security: Facts at a Glance," Economic Policy Institute, September, 2002.)
Nearly 25% of Medicare beneficiaries lose drug cost coverage under new law The new Medicare law will cover less than a quarter (22%) of Medicare beneficiaries' drug costs because it fails to rein in skyrocketing prescription drug prices. (Source: Consumers Union, 2003)
Social Security helps keep elderly women from poverty Without Social Security, more than half of all elderly women would be living in poverty. (Source: National Women's Law Center, 2004)
Average Medicare benenficiaries paying more under new law The average Medicare beneficiary will pay MORE under the new law: The average Medicare beneficiary (without prescription drug coverage) spending $2,318 in 2003 would find that his or her out-of-pocket costs for prescription drugs (including: premium, deductible, co-payments, and "doughnut") would be $2,911 in 2007. (Source: "Medicare Prescription Drugs..." Consumers Union, November 17, 2003. Page 3.)
New Medicare law prohibits negotiations for lower drug prices The new law PROHIBITS Medicare from using the power of the 40 million people on Medicare to negotiate for lower prescription prices. This is a proven method to bring down prescription costs already being used by the U.S. Veteran's Administration, Department of Defense, U.S. Coast Guard, and other federal agencies. (Source: Medicare Prescription Drug Modernization Act 2003)
Medicare law: 2-3 million retirees will lose prescription coverage Nationwide, it is estimated that between 2 and 3 million retirees are expected to lose their prescription coverage as a direct result of this new law. (Source: Andrea Stone, "Benefits start in '06, but help available sooner," USA TODAY, November 25, 2003.)
Drug companies will benefit most from Medicare law Drug companies will get a windfall of money from this law – collecting an estimated $139 billion taxpayer dollars in new drug profits. (Source: Sager & Socolar, "61% of Prescription Drug Subsidy Profits Drug Makers," BU Public Health, October 31, 2003.)

Well, I suppose to some Drunken Driving equates to good morals, but I'll take a pass on that, thanks.
dablacksox
Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.