January 10, 2005
“If the Republican plan to cut benefits by more than 40 percent were in place today, retirees in California would see their monthly benefits drop by $393, making their total annual benefit only $5532,” said Rep. Lee. “That’s $2700 less than the poverty level. For retirees that depend on Social Security to make ends meet, that’s a raw deal.”
“Under the Republican plan, Social Security gets weaker, not stronger," Rep. Lee continued. "Today’s workers would see their Social Security benefits drop by more than 40 percent over the coming years. The false promise of private accounts is a recipe for disaster. American workers have paid into Social Security for years and deserve to benefit.”
"Social Security is the single most effective anti-poverty program there is, and it protects our most vulnerable communities. Without Social Security, 52 percent of white women, 65 percent of African American women, and 61 percent of Hispanic women over the age of 65 would live in poverty," she added. “It says a lot about Republican ‘values’ that they want to cut the only secure source of retirement funding that American workers have.”
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REP. LEE CALLS ON REPUBLICANS TO JOIN DEMOCRATS IN REJECTING SOCIAL SECURITY BENEFIT CUTS
Oakland, CA – Today, Rep. Barbara Lee rejected the latest Republican proposal to cut Social Security benefits for today’s workers. This morning, the White House held a press event to try to build support for its proposal to cut Social Security benefits by more than 40 percent in the coming decades.“If the Republican plan to cut benefits by more than 40 percent were in place today, retirees in California would see their monthly benefits drop by $393, making their total annual benefit only $5532,” said Rep. Lee. “That’s $2700 less than the poverty level. For retirees that depend on Social Security to make ends meet, that’s a raw deal.”
“Under the Republican plan, Social Security gets weaker, not stronger," Rep. Lee continued. "Today’s workers would see their Social Security benefits drop by more than 40 percent over the coming years. The false promise of private accounts is a recipe for disaster. American workers have paid into Social Security for years and deserve to benefit.”
"Social Security is the single most effective anti-poverty program there is, and it protects our most vulnerable communities. Without Social Security, 52 percent of white women, 65 percent of African American women, and 61 percent of Hispanic women over the age of 65 would live in poverty," she added. “It says a lot about Republican ‘values’ that they want to cut the only secure source of retirement funding that American workers have.”
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