Congressman Bob
Filner has been at the forefront of the fight
to preserve Social Security and
Medicare
for our nation’s seniors.
Congressman Filner is vehemently opposed to the
privatization of Social Security. Social Security
requires continual evaluation because of the number
of baby boomers who will retire shortly and
because of longer lifespans, but it
is not in crisis.
In fact, the Republican tax policies will cost more
than twice as much over the next 75 years as the
long-term deficit in Social Security.
If we did nothing about Social Security--and nobody
is suggesting that--but even if we did nothing, the
system would pay full benefits through the year
2041. Bob is working to craft a solution that will
extend benefits after 2041 without reducing them
significantly and without increasing payroll taxes.
In contrast, privatization--taking
a portion of the Social Security payroll tax to
allow individuals to invest in private
accounts--would cost approximately $2 trillion.
Privatization has high administrative costs and
would be at the mercy of the stock market’s ups and
downs. It would decrease benefits for disabled
beneficiaries, widows, and women. Privatization
is being pushed by Wall Street firms that, according
to the June 12, 2001 Wall Street Journal, are
raising millions to lobby for the privatization of
Social Security. We cannot gamble our retirement in
the stock market!
Bob also believes that the Social Security and
Medicare Trust Fund should be used only to pay for
Social Security and Medicare benefits. Because the
President’s tax cut uses up virtually the entire
non-Medicare, non-Social Security surplus, we are
dipping into the Trust Funds to finance the Iraq war
and other spending needs.
Another issue of concern to seniors is the Notch
Baby issue. Rule changes in 1977 meant that many
people born in the 5-15 year period after 1916
received lower benefits than those of retirees born
before or after them. Bob has signed on as a
co-sponsor of H.R. 368 to correct this
inequity. Changes would include a lump-sum payment of $5,000
or a higher monthly payment.
Bob’s bills providing social
security and tax assistance for seniors:
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H.R. 2127
would increase the capital gains tax exemption
on the sale of a home for citizens who are 50 or
older.
This bill would provide a one-time increase to
$500,000 for a single person and $1 million for
a couple in the amount they can exclude from the
sale of their principal residence if they are 50
years of age or older. Passing this bill would
give many seniors the additional money they need for
nursing home care, medical costs, and other
retirement expenses.
BOB'S
STATEMENTS ON SOCIAL SECURITY!
LINKS Social
Security Administration
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