The “Chained CPI” is a way for the 1% to steal your Social Security. Bernie Sanders knows this, and now, so can you. Sanders explains:
Revenue coming into this Government is the lowest in 60 years.
The 1% get exorbitant tax breaks and the 99% pays for the rich!
When you go to wars and don’t pay for them, you add to the deficit.
When you give tax breaks to the richest in the country, you add to the deficit.
It is not a minor tweak like the 1% want you to think, but slashing of Social Security benefits.
All new income gains 2009-2011 went to the 1%, the 99% got NOTHING!
Bank of America paid ZERO in Federal tax, but got a refund of 1.9 billion!
G.E. paid no federal tax but got a refund 3 billion!
AARP reports, “In an attempt to reduce the federal deficit, Congress and the Administration are considering changing the consumer price index — a change that would have a particularly negative impact on Social Security benefits. Their proposed change, the “chained CPI,” is estimated to lower the CPI by 0.3 percentage points each year, taking approximately $112 billion out of the pockets of current and near retirees in the next 10 years alone. A typical beneficiary – with an annual income of roughly $20,000 — will lose over $2000 dollars of benefits over 10 years.”
Want to get really sick? Here’s a calculator that shows you just how much of YOUR Social Security benefits you will lose if Chained CPI takes effect.
And here is our man: Vermont Senator Bernie Sanders, speaking truth to power. Go Bernie!