I have worked extremely hard for more than half of my life without thinking much about what will happen when I am able to retire. Now that I realize that I have only been able to secure low-mid-wage jobs, barely scraping by from paycheck to paycheck, with no ability to save or privately invest for my future, and having very little saved in Social Security due to the income-based calculation for contribution, I am not only worried for my own future, but future generations.
There is a way to correct this wrong, in part, by the passages of the Strengthening Social Security Acts of 2013. These bills strengthen Social Security in three important ways.
First, the average Social Security check would be raised so retirees may not have to struggle with making choices between purchasing heating fuel or a birthday cake for their grandchild. Also, by adopting the CPI-E, there will be a more fair formula to calculate inflation.
Lastly, these changes would not only get paid for, but also ensure that Social Security remains solvent indefinitely by raising and eliminating the cap that prevents the wealthy from paying in a comparable share of their income into the Social Security system.
Kudos to U.S. Rep. Chellie Pingree for signing on as a co-sponsor of that legislation. Maine’s other legislators should consider co-sponsoring and moving those important bills forward.
Kellie Pelletier, Lewiston
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