Thursday, December 1, 2022

Play

Access to medication is key to HIV prevention, a Florida university uses a religious exemption to disband its faculty union, plus Nevada tribes and conservation leaders praise a new national monument plan.

Play

The House passed a bill to avert a crippling railroad strike, Hakeem Jefferies is chosen to lead House Democrats, and President Biden promises more federal-Native American engagement at the Tribal Nations Summit.

Play

The first-ever "trout-safe" certification goes to an Idaho fish farm, the Healthy Housing Initiative helps improve rural communities' livability, and a new database makes it easier for buyers and builders to find available lots.

Concerns Loom for Social Security's Future Ahead of Benefit Increase

Play

Friday, October 7, 2022   

The roughly 2.4 million Ohioans who rely on Social Security income are expected to get a big boost in benefits, but advocates for the program are voicing concerns about its future stability, especially in this political climate.

The annual Social Security Cost of Living Adjustment or "COLA," which could be announced any day now, is predicted to be close to 9% for 2023.

Amid record high inflation, said Norman Wernet, president of the Ohio Alliance for Retired Americans, the increase will be crucial to help older Americans cope with inflation.

"Social Security is there because we need some way to have a life after a life of work," he said. "Not every worker has been able to put money back or have a good pension - and actually, pensions have been diminished over the last 30 years."

However, the Social Security Board of Trustees report continues to forecast a long-term cash shortfall that could lead to reduced benefits in 13 years. Some Republicans have floated cutting or sunsetting the program. But Wexner's group and others are supporting bills in Congress that would expand benefits and boost the cap on the amount of income subject to Social Security tax.

Jon Bauman, president of the advocacy group Social Security Works' pollitical action committee, explains that the current wage cap for the program is $147,000, which means those who make more than that don't have money withheld on the additional earnings. Bauman argued that the cap should be lifted.

"A Koch brother or Elon Musk or Jeff Bezos or a random rich person stopped paying at $147,000," he said. "So, if they made, like, $50 million that year, they're paying '.0000000000000001%' in - and how is that fair?"

He noted that the money in the Social Security Trust Fund comes directly from workers' wages during all their working life, plus their employers' contributions. One-point-eight-million Ohioans receiving Social Security benefits are age 65 or older.

Disclosure: Social Security Works contributes to our fund for reporting on Budget Policy & Priorities, Health Issues, Senior Issues, Social Justice. If you would like to help support news in the public interest, click here.


get more stories like this via email
The gold dome on the Iowa Capitol has been gilded five times. The gold leaf covering the dome is 250,000th of an inch thick and is 23.75 karats. (Adobe Stock)

Social Issues

2022 was a banner year for women elected as governor. Nearly one-third of America's governors will be women next year, which is a record. Iowa …


Environment

Residential water rates in Michigan are soaring, with an estimated one out of ten households without access to or unable to afford clean water…

Environment

Fracking is a very water-intensive industry, and a new study dives into the impact of unconventional oil and gas drilling on aquatic ecosystems in …


Tom Oliver, center, receives the 2022 Washington Andrus Award for Community Service. (Bruce Carlson/AARP Washington)

Social Issues

A Bellingham man who supports people with dementia has received one of the most prestigious awards for volunteerism in Washington state. The …

Social Issues

Native American tribal communities and conservation groups got a big win Wednesday as President Joe Biden announced he intends to create a new nationa…

The 2020 Iowa caucuses were beset with tabulation problems, which set off a discussion on whether to shake up the Democratic primary process. (Scoutori/Adobestock)

Social Issues

A decision could come today on Nevada's bid to become the first state in the nation to hold a Democratic primary in 2024. The Democratic National …

Environment

Snow is on the ground in much of Minnesota, but the state is coming off another warm season with notable drought conditions. Those who monitor …

Environment

By Ray Levy Uyeda for Yes! Magazine.Broadcast version by Mike Moen for Greater Dakota News Service reporting for the Solutions Journalism Network-…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright 2021