Rather than cut benefits to the elderly under a chained CPI, it is time to consider expanding Social Security by calculating annual benefit increases using CPI-E, an expanded CPI, CPI for the elderly that calculates the true cost of living for actual, living and breathing human beings. The cost of living increase for 2014 is only 1.5% when food, medical expenses and insurance are up at double-digit rates. I would finance expanded Social Security by means of a Robin Hood tax on financial transactions. Wall Street is setting new highs. Let those who can afford to pay a bit more in taxes help those who cannot.
- Elizabeth Warren: Don’t cut Social Security. Expand it! (washingtonpost.com)
- Elizabeth Warren Stands Up For Expansion Of Social Security (crooksandliars.com)
- Republicans and Democrats to work together to gut Social Security, pass Chained CPI, without CALLING it a “grand bargain” (correntewire.com)