According to the interim chairwoman of the Democratic National Committee, the Social Security reform movement is an awakening, so to speak, for the majority of Americans who are concerned about the budget priorities of the Republican Party. Donna Brazile said that the attempt by Republicans to cut the deficit by making Social Security budget cuts is hurtful to seniors and middle-class Americans depending on their disability benefits.
However, the budget dilemma cannot be ignored. Postponing decisions on Social Security while it is manageable may become harder to solve once the program is in jeopardy, according to the Daily News Pulse. It may be easier to collect taxes on more of high earners’ incomes while most of the baby boom generation is still working. The sooner the taxes go up on the rich, the more money will be brought in, according to some experts. What’s more, increasing taxes and lowering benefits for the affluent will be easier for the general public to accept.
The Democrats have recently suggested raising the retirement age. It seems that everything else goes up around us, including gas. Increasing the federal gasoline tax by 25 cents a gallon would generate $291 billion from 2012 to 2021. Increasing the retirement age from 62 and 66 to 64 and 70 may also generate money into the Social Security trust fund, which would mean savings of about $264 billion in benefits.
According to the National Stroke Association’s CEO James Baranski, individuals collecting disability claims in the world of Social Security face a lot of challenges. The process of applying for disability claims is difficult, cutting costs in the program could directly affect such claimants as stroke victims. Often, stroke victims are working with a deficit while trying to meet deadlines and fulfill all the application requirements.