The State of the Union is the perfect time for Biden to renew his promise to expand Social Security

In last year’s State of the Union address, President Joe Biden memorable He called on Republicans to support cuts to Social Security.

reportedly, Biden is considering refocusing Social Security in this year’s State of the Union address by calling for millionaires and billionaires to pay their fair share. This is smart policy and winning politics, especially if Biden combines it with his call for a modest increase in Social Security benefits.

Social Security is significantly better than the private sector. It is more efficient, universal, fair and secure. The disadvantage of this system is that the benefits are too small. average Only $1,770 per month or $21,240 per year.it is low Based on absolute standards and international standards. This does not replace wages that would allow Americans to retire without significantly reducing their standard of living.

The solution is to scale up these modest benefits. Our nation faces a retirement income crisis as pensions decline rapidly and 401(k)s are inadequate or non-existent for all but the wealthiest people. Expanding social security is the solution to that crisis.

Currently, the wealthiest Americans do not participate in Social Security for any earned income or passive investment income that exceeds $168,600. Requiring millionaires and billionaires to pay out all of their income throughout the year, just like everyone else, would protect and afford to expand Social Security’s modest benefits. Doing so will help address today’s income and wealth inequalities. Major cause A portion of the expected Social Security shortfall.

All Democratic, Republican, and independent voters united Help protect and expand social security. Democrats in Congress responded to the call and expressed support. Some social security expansion plans. These include: Social Security 2100 ActIt was sponsored by Rep. John Larson (D-Conn.) and co-sponsored by nearly 90 percent of House Democrats. Social Security Expansion Actwas supported by Sen. Bernie Sanders (D-Vermont) and Sen. Elizabeth Warren (D-Massachusetts).

These bills do not have a single Republican co-sponsor, even though Republican voters overwhelmingly support them. Instead, Republicans (along with a few pro-business Democrats) are pushing to create a fast-track commission aimed at cutting Social Security and Medicare behind closed doors. Speaker Mike Johnson (R-Louisiana) Said Committees like this are a top priority, said House Budget Chair Jody Arrington (R-Texas). requested it as a condition of maintaining government funding.

94 percent of Republican voters oppose social security cuts72 percent I want to expand the benefits. But Republican politicians have other priorities. It’s about cutting benefits so that wealthy donors don’t have to pay their fair share into the system.

This year’s State of the Union address is a perfect opportunity for President Biden to expose the gulf between Republican politicians and voters. In his speech, Biden should call for expanding Social Security and paying for it by requiring millionaires and billionaires to contribute at the same rate as everyone else.

Just as Biden appealed to Republicans last year to join them in opposing Social Security cuts, this year he should appeal to Republicans to join him in supporting expanded benefits.most congressional Republicans Grover Norquist Believers who have vowed not to collect a penny of taxes on the wealthy will likely refuse. This allows voters to know which party supports them and which party supports the billionaire class.

He will also run against Donald Trump. Unlike many other Republicans, Trump claims he opposes cuts to Social Security. record as president, shows that’s not the case when he proposes cutting benefits each year.But Trump Stated He opposes expanding benefits, providing a sharp contrast to Biden.

In 2020, Biden I kept running Protection and expansion of social security. His State of the Union address is a perfect opportunity for him to remind Americans of that promise. He should let the American people know that if reelected, he intends to work with Democratic Congresses to expand Social Security to all current and future beneficiaries.

Instead of allowing Republicans to push through cuts behind closed doors, Democrats should ask voters to elect a Republican so they can expand Social Security. The next time this glaring difference between the two parties becomes apparent is in the March 7th State of the Union address.

Nancy Altman is president of Social Security Works.