Link to Robert Reich's petition to President Obama :

[Faryn Balyncd]

http://signon.org/sign/mr-president-please-do-1?source=mo&id=65506-15400088-o0C8v1x

Mr. President, Please do not cut Social Security!

By Robert Reich, former U.S. Secretary of Labor

To be delivered to: President Barack Obama

Petition Statement

Mr. President, the chained CPI is a cut to Social Security benefits that would hurt seniors--it's an idea not befitting a Democratic president. If you want to reform Social Security, make the wealthy pay their fair share by lifting the cap on income subject to Social Security taxes.
Petition Background

Social Security is not driving the deficit, therefore it should not be part of reforms aimed at cutting the deficit. The chained CPI, deceptively portrayed as a reasonable cost of living adjustment, is a cut to Social Security benefits that would hurt seniors.

There are several sensible reforms to Social Security that should be considered to help make it sustainable, including lifting the ceiling on income subject to Social Security from $113,700 to $200,000 or more, as well as instituting a 1% raise in the payroll tax rate, a rate that hasn't changed in over 20 years.

Both of these reforms would go a long way toward protecting the long-term health of Social Security, but neither should not be conflated with efforts to reduce the federal budget deficit.

President Obama needs to stand by his Democratic principles and fight to protect Social Security benefits.

There are currently 155,067 signatures
NEW goal - We need 175,000 signatures

[Cleita]

1. Done!

[ProSense]

2. While I agree

"There are several sensible reforms to Social Security that should be considered to help make it sustainable, including lifting the ceiling on income subject to Social Security from $113,700 to $200,000 or more, as well as instituting a 1% raise in the payroll tax rate, a rate that hasn't changed in over 20 years."

...with lifting the cap, I'm not keen on raising the payroll tax rate. This is like trading one bad impact on low-income workers for another. I much rather Senator Harkin's proposal.

<...>

Strengthening Social Security

Social Security has proven to be an incredibly efficient means of delivering retirement security to millions of Americans. Therefore, one of the most effective ways to address the retirement crisis and reduce the retirement income deficit is to improve Social Security by enhancing benefits in a fiscally responsible way. The Rebuild America Act (the “Act”), introduced in March 2012, contains a comprehensive plan to improve Social Security.22 That plan would improve benefits to help reduce the retirement income deficit, ensure the cost of living adjustment (“COLA”) better corresponds to the typical expenses for seniors, and improve the long-term financial condition of the trust fund by gradually lifting the cap on wages subject to payroll taxes.

Improved Benefits

To improve benefits for current and future Social Security beneficiaries, the Act changes the method by which the Social Security Administration calculates Social Security benefits. Social Security benefits are based on a progressive formula that replaces a set percentage of income – called a replacement factor – at three different income levels. The replacement factor for a person’s first $767 of Average Indexed Monthly Earnings (“AIME”) is 90%. The replacement factor drops to 32% for AIME between $767 and $4,624 and 15% for AIME between $4,624 and $8,532.

The Act improves Social Security benefits by expanding by 15% over a 10 year period the amount of earnings covered under the first replacement factor. In other words, it would increase the amount of AIME that receives the 90% replacement rate. That change will boost benefits for most beneficiaries by approximately $60 a month. Although the increase is modest, it will have an especially profound effect for those in the middle and at the bottom of the income distribution for whom Social Security has become an ever greater share of their retirement income.

Improved COLA

The Act changes the way the Social Security Administration calculates the COLA so that it more accurately reflects the change in seniors’ cost of living. Currently, the annual adjustment is tied to the Consumer Price Index for all Urban Wage Earners (“CPI-W”) for the purposes of calculating inflation. The CPI-W is based on a basket of goods that does not adequately track the purchases of seniors such as medical care. The Act moves from using the CPI-W to the Consumer Price Index for the Elderly (“CPI-E”), an index that is specifically tailored to more closely track costs for seniors. Making this change ensures that Social Security benefits keep pace with the rising costs of essential items for seniors, including health care.

Improved Financing
Social Security is not in crisis, but it does face a long-term deficit. According to the most recent Social Security Trustees report, the trust fund will be able to pay full benefits through 2033.23 In order to improve benefits and improve the solvency of the trust fund, the Act would phase out the cap on wages subject to the payroll tax, which is currently $110,100. In other words, income above $110,100 would be subject to the payroll tax, bringing more revenue into the Social Security system. The change would be phased in over a 10 year period to minimize the burden on employers and employees. Moreover, to ensure that people receive a benefit for every dollar they pay into the system, the Act creates a new replacement factor of 5% for income over the current wage cap. Together with the benefit increases in the Act, these steps will significantly extend the life of the Trust Fund.24

- more -

http://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf

[ljm2002]

6. At last, something we agree on!

[hay rick]

20. Neither of the above.

I'm surprised to see the 1% increase in payroll tax included in Rubin's plan. I don't see any reference to increasing the payroll tax at his web site- not that I read everything there.

Harkin's plan sounds better until you follow the link and read further, coming to this:

USA Retirement Funds would be privately-run, licensed, and regulated retirement plans. Each USA Retirement Fund would be overseen by a board of trustees consisting of qualified employee, retiree, and employer representatives. The trustees would act as fiduciaries and be required to act prudently and in the best interests of plan participants and beneficiaries. The assets held by each USA Retirement Fund would be pooled and professionally managed.

Sounds like a Pete Peterson plan in sheep's clothing.

[ProSense]

21. No,

"Harkin's plan sounds better until you follow the link and read further, coming to this...Sounds like a Pete Peterson plan in sheep's clothing."

...you are misreading the plan, which has two parts. The plan for Social Security (http://www.democraticunderground.com/?com=view_post&forum=1002&pid=2627578), which is excellent, has nothing to do with his pension proposal. He is talking about revitalizing pensions.

This section lays out a two-part plan to solve the retirement crisis by making some bold changes to the private retirement system and Social Security. The first proposal would rebuild the private pension system by providing universal access to Universal, Secure, and Adaptable (“USA”) Retirement Funds, a new type of private pension plan that would give people the opportunity to earn a secure benefit and would be easy for employers to offer. The second proposal will improve Social Security by increasing benefits while strengthening the long-term finances of the trust fund. Together, those two reforms would go a long way toward rebuilding the three-legged stool of retirement security and helping people retire with dignity and financial independence.

http://www.harkin.senate.gov/documents/pdf/5011b69191eb4.pdf

[hay rick]

30. I stand corrected.

As you noted, I mistook his pension revitalization plan for a Social Security privatization scheme. Harkin's plan sounds much better.

Very curious that Rubin's plan calls for a 1% payroll tax increase (don't know whether that is total or 1% from both employer and employee) while Harkin's plan makes no mention of raising the payroll tax and offers greater benefits- both by increasing AIME limits and using the more generous CPI-E. That's a substantial difference in the net benefit for a lot of people.

The other salient difference between the two plans is that Rubin would move the OASDI cut off to around $200,000 while Harkin's plan would gradually eliminate the cap entirely. I expect that increased income source accounts for the difference in net benefit. I like that plan better but I also believe it has less chance of being passed.

[forestpath]

3. Done!

[bjobotts]

25. Why is Obama ignoring the will of the majority

There is overwhelming support behind making no cuts to SS or Medicare...overwhelming support in fact to strengthen these programs. Needed revenue can be obtained from a number of sources without breaking the backs of the elderly and the poor.
Obama must call republicans out when they completely ignore the $1.3 trillion in spending cuts he has already agreed to when these repubs say no new revenue...the majority of Americans completely agree with Obama in doing so. Why is he not listening...
Chained CPI, Keystone XL. Medicare cuts???wtf Mr. President...Listen to your supporters...they are all saying the same thing...Listen.

[forestpath]

27. Because the 1% have all the money.

[rhett o rick]

4. I will support this effort but think it will not affect Obama who has clearly made up his mind.

He is a lame duck and apparently isnt willing to fight for the 99%.

[dflprincess]

11. He can't be concerned about our retirements when he has to make sure his own is secure.

I signed the petition but, like you, I don't think Obama will give a damn. Now that he's in his second term he doesn't need us anymore.

[YOHABLO]

13. Point well taken .. but we have to fight very hard .. and speak very loud .. hit the streets of DC

[rhett o rick]

22. We need to think very hard about who we will run in 2016. The ruling elite are going to

want to hand us a candidate they can control.

[gateley]

5. Done, forwarded and posted on FB.

[femmocrat]

7. Done. Thanks for the link. nt

[UnrepentantLiberal]

8. Where do you find out how many have signed?

[Faryn Balyncd]

9. Signatures have increased from 155,067 to 163,194 in the last 71 minutes.

[Volaris]

14. that's badass. By monday, the White House will have to adress this concern among the base.

think they will tell us to "shut up" again?

[AnotherMcIntosh]

17. Yes, they will tell us to shut up again.

[moondust]

10. Signed.

[cantbeserious]

12. Signed!

eom

[SalviaBlue]

15. signed

[SaveOurDemocracy]

16. Signed.

[tclambert]

18. Signed.

Damn. I wish we had that lockbox for Social Security now.

[SamKnause]

19. Robert Reich

Signed

[FredStembottom]

23. Done!

Let's roll, DU!

[pacalo]

24. K&R.

[jsr]

26. Recommend

[NYFlip]

28. Done

Thanks for posting

[MotherPetrie]

29. K&R and signed!

[Denver Progressive]

31. Done. K&R!!

[nilram]

32. Signed! And I rarely do that.

Tired of all the spam, no matter how well intentioned. But this is important.

[Faryn Balyncd]

33. Signatures now at 175,169.

[Paper Roses]

34. Done

[efilon]

35. R and K

I had so much "hope" when I donated and voted for this president. I have been sorely disappointed as have most of us who have a more progressive idea of where our country needs to go.

[bluethruandthru]

36. I never thought I'd have to sign a petition to try and stop a Democratic president from cutting SS.

I feel like I'm in the twilight zone.

[onestepforward]

37. Done!

[Faryn Balyncd]

38. Signatures now at 206,681.

[grahamhgreen]

39. Kick

[JDPriestly]

40. I signed the petition at sign-on. Thanks.

[WillyT]

41. Done !!! - K & R !!!

[avaistheone1]

42. Done K&R!!

[Agony]

43. approaching 1/4 million signatures...

[snappyturtle]

44. Signed...K&R nt

[lucca18]

45. Done!

[AsahinaKimi]

46. Signed..

I hope he listens to us.

[Faryn Balyncd]

47. Signatures now at 236,951.

[brett_jv]

48. Signed and FB Rec'd ...

Thought "smh & ridiculous that we even have to be doing this", but ... done anyway.

[NightWatcher]

49. When has a politician changed policy because of a petition?

Oh never mind, go sign it and feel all warm and fuzzy for a second, and then check back in to see that it changed nothing and was a waste of bandwidth.

[Babel_17]

50. There are currently 283,846 signatures (signed) (nt)

[pam4water]

51. K&R

[Babel_17]

52. There are currently 314,105 signatures (nt)