A Quote by Ginny Brown-Waite
In fact, Social Security is the only source of income nationwide for 29 percent of unmarried elderly women.
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Without Social Security benefits, more than 40 percent of Americans 65 years and older would live below the federal poverty line. Even more striking is that Social Security is the only source of retirement income for almost a quarter of elderly beneficiaries.
Social Security makes up a much larger share of total retirement income for unmarried women and minorities than it does for married couples, unmarried men and whites.
Among seniors, Social Security is the sole source of income for 26 percent of nonmarried women.
One poll shows that by 61 percent to 29 percent Americans under 40 say that Social Security needs to be fixed.
There are many commitments I have made for reducing poverty. One is to reform social security. Social security reaches only 44 percent of Mexicans. One of my goals is to give social security to all the people.
Social Security, for example - I'm 43. I've paid into the system. You know what? That money has been stolen from me. I know that my parents who are on Social Security - they've got to continue to receive it. They're dependent on it. It is their primary source of income.
On the other end of the spectrum, these women who do live long enough to collect Social Security face the challenge of being disproportionately dependent on the Social Security system for retirement income.
From an economic perspective, women are treated unfairly: they perform 66 percent of the world's work and produce 50 percent of the food but they only earn 10 percent of the income and own 1 percent of the property.
If you have to pay about forty to forty-three percent of your income for housing, you also have to pay fifteen percent of your paycheck for the FICA for Social Security wage withholding. You have to pay medical care, you have to pay the banks for your credit card debt, student loans. Then you only have about twenty-five or thirty-five percent, maybe one-third of your salary to buy goods and services. That's all.
It has to have a payroll tax that's dedicated to Social Security. The Social Security tax has been very successful over the years in raising almost all of our elderly citizens out of poverty.
Lets all be reminded, 60 million Americans are on Social Security, 60 million. A third of those people depend on 90% of their income from Social Security. Nobody in this country is on Social Security because they made the decision when they were starting work at 14 that they wanted to trust some of their money with the government.
When women earn the money for the family, everyone in the family benefits. We also know that when women have an income, everyone wins because women dedicate 90% of the income to health, education, to food security, to the children, to the family, or to the community, so when women have an income, everybody wins.
If you threw a barbecue yesterday for the Memorial weekend, it was 29 percent more expensive than last year because Barack Obama's policies have led to groceries going up 29 percent.
Women would be disproportionately affected by the privatization of social security. It is one of the most important safety nets for American women in old age, or in times of disability, to insure financial income for their families.
I am not employed and my only income is Social Security.
Congress must take some thoughtful and targeted steps towards long-term solvency in the Social Security program. One such step is to eliminate the cap on income that is taxed for Social Security.
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