March 28, 2024
For Retired Workers- the 2024 Elections
Are About Defending Social Security
The 2024 National Elections are in full swing. As with every election year, there are many issues that could impact our members and the positions the candidates take on these issues is important. For our retired members, Social Security and Medicare are without question the most important ballot box issues.
Republicans at all levels have stated they want raise the age to qualify for Social Security and reduce the monthly benefits. Reducing the deficit is the reason they give for their plan. However, Social Security isn’t  part of the federal budget. The funds paid out of Social Security come from the Social Security Trust Fund, which isn’t part of the federal budget.
The Social Security Act was passed in 1935, with the first funds being deducted and issued in 1937. Social Security is a pay as you go system, that works on the principle that current workers and their employer contribute to the system to cover the payments for those drawing payments. As a result, Social Security is pass threw funds, not impacting the Federal Budget at all. Any politician that tells you they have to cut Social Security to “lower the deficit” is lying to you.
While Social Security doesn’t contribute to the budget deficit, the government does owe Social Security $2.9 trillion dollars. As a matter of fact, of the $6.7 trillion the United States owes, almost half of it is owed to Social Security. In the years following World War II, the population in the United States increased drastically, with Social Security taking steps to cover this increase. As a result the Social Security Trust Fund grew to accommodate the increased future need. The problem is the federal government has “borrowed” money from the Social Security Trust Fund. When Congress borrow money from Social Security, they issue bonds to repay the money. There are some politicians that prefer to cut benefits rather than return the money it owes Social Security. That is YOUR money, you have paid for all your working life. Cutting your benefits to finance more tax cuts for the wealthy is nothing short of criminal.
“Retired Workers play a huge role with our CAP Councils in each state,” states Region 8 Director Tim Smith. “CAP is an integral part of our ability to protect our retired members rights through legislation. Revered UAW President Walter P. Reuther famously stated, “There’s a direct relationship between the ballot box, the bread box, and what the union fights for and wins at the bargaining table can be taken away in the legislative halls”. Today more than ever, this is true. We need all of our members to register and vote on election day to elect our UAW Endorsed candidates within this great state.”
“As a retired member of the UAW, you have all been in the trenches and through the fights, to make not only your life better, but lifting up the livelihoods of all working-class Americans”, adds UAW Region 8 Retired Workers Representative Mark Dowell. “Labor unions are under attack by the super wealthy. They do not want to share their profits with those who gave their blood, sweat, and tears to help them to make that money. The rich have influenced our election process to allow them to become even richer, while the rest of us struggle. The latest attacks we are seeing are on Social Security. Under current law once you make $168,600 dollars in that year, you no longer have to pay into social security. The GOP in Congress are proposing to raise the age to 70 before drawing these funds, along cutting benefits to 80% until funds are restored. This is not an option for Americans trying to survive in the world today. We are asking that Congress remove the cap from Social Security income. If this is done, it will strengthen Social Security for generations, along with giving a $200-$400 raise to each American currently on this program each month. We urge you to contact your congressman and tell them to remove the cap on Social Security. Remember to vote this fall for your UAW endorsed candidates.”
We encourage every member- especially our retired workers to make sure you are registered to vote and you support candidates that pledge to defend Social Security- not destroy it. It is imperative that we fight to preserve Social Security for current and future retirees, not elect candidates that are willing to destroy our retirement security. |
