Senator Calls Seniors Concerned About Social Security Cuts 'Greedy Geezers'

By Elizabeth Palmberg 05-31-2012

If there’s a contest for the title “greedy geezer,” a Social Security recipient living on $14K/year probably isn’t in the top ten…

"…former Sen. Alan Simpson recently referred to a group of seniors concerned about cuts to Social Security as “greedy geezers.” While Simpson characterizes retirees who receive an average annual Social Security benefit of $14,000 as “greedy,” a new issue brief from the Center for Economic and Policy Research shows that simply raising or eliminating the Social Security payroll tax cap would only affect a tiny percentage of workers – the wealthiest in our nation -- while strengthening Social Security. …"

"[Currently,] a worker who makes twice the Social Security wage cap – $220,200 per year – pays Social Security tax on only half of his or her earnings, and one who makes just over 1.1 million dollars per year pays the tax on only about a tenth."

Read full report HERE.

Don't Miss a Story!

Get Sojourners delivered straight to your inbox.

Have Something to Say?

Add or Read Comments on
"Senator Calls Seniors Concerned About Social Security Cuts 'Greedy Geezers'"
Launch Comments
By commenting here, I agree to abide by the Sojourners Comment Community Covenant guidelines

Must Reads