A Quote by Diane Watson
Among seniors, Social Security is the sole source of income for 26 percent of nonmarried women.
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In fact, Social Security is the only source of income nationwide for 29 percent of unmarried elderly women.
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.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
Prescription drug prices are skyrocketing and one-third of all seniors depend on Social Security for at least 90% of their income.
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.
Since Social Security was established by President Franklin D. Roosevelt in 1935 to ensure economic security for American workers, poverty among American seniors has dramatically declined.
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.
Seniors are concerned about Medicare and Social Security. I advocated in Congress a separate and distinct lockbox fund for Social Security.
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.
Instead of following through on their promise to concentrate on jobs, Republicans have attacked seniors, working families, women, and the most vulnerable among us. They have pursued an extreme agenda that would end Medicare as we know it and cut Social Security benefits in order to continue giving tax breaks to Big Oil and millionaires.
In order to fix Social Security, we must restructure it so that we continue to provide for our Nation's seniors that are approaching retirement age, but allow for younger taxpayers to invest a portion of their Social Security taxes in private accounts.
Young people understand that there is not a Social Security trust fund. Social Security is a pay-as-you-go system, where today's millennials are paying for today's seniors.
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.
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.
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.
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