Over the past several weeks, we have taken a deep dive into the seven rights outlined in our bill, The Senior Citizens Bill of Rights. We understand the proposed bill can be a little overwhelming, that is why we have created this comprehensive guide to help seniors better understand our groundbreaking bill.

Each of these rights helps senior citizens nationwide achieve more financial security. To better understand how each right achieves this, we have attached the right, the deep dive article, and a short description for each right in this guide.

A Brief Guide to The Senior Citizens Bill of Rights

Right #1

Social Security is an earned benefit and can never be cut.

Guarantee Benefits Are Never Cut : For many senior citizens, Social Security benefits is a major source of income. These benefits represent around 33% of the income for seniors. That is 1/3 of their income. This means if benefits are cut, it would have detrimental effects on seniors’ livelihoods.

Right #2

Social Security benefits will no longer be taxed as income.

Ensure Financial Security, Stop Taxing Social Security Benefits: The average retiree household spends approximately $50,220 annually but only receives $18,170 in annual benefits. Because of this, many seniors have chosen to continue working after retirement. However, many are not aware that earning more than the declared income threshold could result in up to 85% of their benefits being taxed as income.

Right #3

Increases in healthcare costs must be used in calculating annual Social Security COLA increases.

More Seniors Declaring Bankruptcy: COLA Calculations Need Improvement: More and more seniors are declaring bankruptcy. This is partially due to the skyrocketing healthcare prices that are not considered when calculating annual COLA increases.

Right #4

Money deposited into the Trust Fund can only be used to pay benefits to eligible senior citizens. None of the money deposited into the Trust Fund can be transferred to the General Fund or be used to pay operating expenses unrelated to the Social Security system. Furthermore, no branch of the Federal government may ‘borrow’ any money from the Trust Fund.

Providing More Financial Security; Why Right Number 4 is Important: Previously, the federal government “borrowed” $17.5 billion from the Social Security Trust Funds. Using the average payment for February 2021 ($1,473.34), the money “borrowed” could have been financed 11.8 million payments to beneficiaries. It is chilling to think this could happen again—especially with the future of Social Security facing so much uncertainty.

Right #5

Senior citizens who are receiving Social Security benefits will no longer be penalized and taxed at a higher rate for choosing to work after retiring from their career.

Right Number 5 of Our Bill Helps Seniors Achieve More Financial Security: The average retiree household spending each year is more than $50,000. In order to earn enough to equal this amount, retirees are forced to play a numbers game as they are taxed for earning more than the income threshold.

Right #6

A married couple will no longer have their earned benefits reduced when one member of the household passes away. The surviving spouse will continue to receive the same amount of benefits as previously earned, by said household.

Right 6 of Our Bill Gives Widow(er)s More Financial Security: Many married seniors have grown accustomed to a way of life, a way of life that is funded by 2 sets of monthly benefits. However, survivor benefits don’t provide the surviving spouse with the same household income. This forces them to adjust their life during a time when they should be more focus on grieving.

Right #7

The Federal Government, elected officials and federal employees are forbidden from referring to Social Security as a “Welfare” program. Senior Citizens have contributed to the system through a lifetime of hard work. Their benefits have been earned.

End Misrepresentation With Right 7 of Our Bill: Due to the typical connotations ‘welfare’ has, claiming Social Security is a welfare program insinuates senior citizens cannot live without government assistance. This is a conception that is simply not true.

Help Us Pass Our Groundbreaking Bill

Hopefully, after reading through the guide, it is evident how crucial these rights are to the financial security of senior citizens throughout the nation. This bill is just the first step to creating a more financially secure future for senior citizens nationwide.

We are currently urging the politicians in Congress to pass this groundbreaking bill, but we could use your help; sign our petition to be a part of this historical movement. Help ensure seniors throughout the United States have the financial security they deserve.