in the vicinityVideoIs the Wall Street fear of a possible Elizabeth Warren presidency?
Martha MacCallum and Jesse Watters to react, during this week, Wednesday, with Watters’ segment ‘of The story.’
He explains that “it is becoming increasingly difficult, enough for a decent retirement,” Democratic presidential candidate Sen. Elizabeth Warren on Thursday introduced a plan to increase the monthly Social security benefits by $200 for all current and future beneficiaries.
The plan, which includes a Democrat, the Massachusetts praised as “the largest and most progressive increase in Social security benefits in almost half a century”, was published hours before the Warren nine of its 2020 rivals for the third round of the primaries debate.
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Warren said that the “typical Social security benefits today are small,” considering the average recipient $1,354 receives a month, or $16,248 for a year. Almost 64 million Americans are beneficiaries of Social security.
“And here’s the even scarier part: if we do not act now, future retirees will still be stressed in worse shape than the current,” she said.
Warren ‘ s proposal also calls for the update of what she describes as “outdated rules to further increase the benefits for low-income families, women, people with disabilities, the public sector, and people of color.”
The populist senator-who has released a progressive policy proposal after another this year, as she runs for the White house — says, you have to pay for extending the solvency of Social security by almost two decades with a turnover of their plan to tax the richest Americans.
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Warren, an independent analysis by Moody’s Analytics chief economist Mark Zandi, who showed that the senator’s plan would “immediately raise an estimated 4.9 million seniors out of poverty, the reduction of senior poverty rate of 68 percent.”
Zandi also claimed that Warren’s proposal calls for raising the contribution requirements of the top-earners and the increase in the average benefits of nearly 25 percent for those who would like to achieve in the lower half of the income distribution – is a “much more progressive system of Social security.”
As recipients of social assistance the number of beneficiaries are living longer, which is expected to increase to 80 million people. And less population means less to pay younger workers in the system, which relates to ability to pay.
The latest projections from the Social Security Board of Trustees to give the reserves for the part funding of the system’s expected that by the year 2035 to be exhausted.