Social Security

Recent Articles

Alarming ‘retirement racial divide’ could leave millions of Black elders at risk

AARP pushes for state retirement savings plan to bridge the gap
By Charles Hallman Staff Writer Are working-age Blacks and other people of color preparing themselves for retirement? A new study by the National Institute of Retirement Security (NIRS) claims a “racial divide” exists in establishing retirement savings. The nonprofit NIRS, based in Washington, D.C., released last month “Race and Retirement Insecurity in the United States.” In a press release, report author and NIRS Research Manager Nari Rhee said, “I’m alarmed by the severity of the retirement racial divide. It’s well documented that regardless of race, the typical working-age American household is far off-track toward accumulating sufficient savings to meet their basic needs in retirement. “We find an even worse situation for Blacks, Latinos and Asians,” continued Rhee. Continue Reading →

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Deficits, deceit, and Social Security

 

By Norman and Velma Hill

Guest Commentators

 

 

Social Security, Medicare, and Medicaid are the foundations for the wellbeing of scores of millions of middle- and low-income Americans. Without Social Security, 14 million more low-income Americans would be living in poverty. Because of Medicare, 33 million older people live longer, have access to quality care, and are not driven into poverty by rapidly rising healthcare costs. Medicaid is a healthcare boon to Americans not yet eligible for Medicare, which covers some 60 million Americans. Because of historical and lingering discrimination, racial minorities in particular need these programs. Overall, they have less income and fewer assets than Whites, so a higher percentage of their retirement income comes from Social Security benefits. Continue Reading →

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Redistribution needed when the rich reap what the poor sow

“I know there are some who believe that if you simply take from some and give to others, then we’ll all be better off. It’s known as redistribution. It’s never been a characteristic of America… I believe the way to lift people and help people have higher incomes is not to take from some and give to others, but to create wealth for all of us,” said Republican presidential candidate Mitt Romney recently. Of course the formula that Romney describes has worked quite well for the one percent. That is exactly how they have enriched themselves: They have taken from others and given to themselves. Continue Reading →

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