I sent this suggestion on how to protect Social Security and help retired workers have a better retirement to my Congresswoman and both Senators.
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Dear Congresswoman Nita Lowey,
I would like you to sponsor a bill called the Social Security Protection Act.
It would include:
1. A separate, segregated fund will be set up to hold all employee and employer contributions to Social Security.
2. Contributions to the Social Security Fund may only be used to provide retirement, disability, and/or survivor benefits to participants in the Fund.
3. The government shall not borrow money from the Social Security Fund and all prior loans must be repaid by issuing Treasury Bonds such that all money borrowed in past loans are repaid with appropriate interest by December 31,2040.
4. The income cap on contributions to the Social Security Fund shall be permanently eliminated.
5. The income tax on Social Security benefits shall be eliminated.
6. There will be an automatic annual increase in Social Security benefits equal to the cost of living increase or 2 percent, whichever is greater.
7. Going forward, the income tax on distributions from pension funds, 401(k), IRA, and all other retirement savings plans shall be permanently eliminated.
I would love the opportunity to discuss this with you at your earliest convenience.
Respectfully Submitted,
Robert Daraio
I would like you to sponsor a bill called the Social Security Protection Act.
It would include:
1. A separate, segregated fund will be set up to hold all employee and employer contributions to Social Security.
2. Contributions to the Social Security Fund may only be used to provide retirement, disability, and/or survivor benefits to participants in the Fund.
3. The government shall not borrow money from the Social Security Fund and all prior loans must be repaid by issuing Treasury Bonds such that all money borrowed in past loans are repaid with appropriate interest by December 31,2040.
4. The income cap on contributions to the Social Security Fund shall be permanently eliminated.
5. The income tax on Social Security benefits shall be eliminated.
6. There will be an automatic annual increase in Social Security benefits equal to the cost of living increase or 2 percent, whichever is greater.
7. Going forward, the income tax on distributions from pension funds, 401(k), IRA, and all other retirement savings plans shall be permanently eliminated.
I would love the opportunity to discuss this with you at your earliest convenience.
Respectfully Submitted,
Robert Daraio
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