CHICAGO –(ENEWSPF)–February 14, 2017. Concerned seniors from Jane Addams Senior Caucus will lead Chicago’s fourth #ResistTrumpTuesdays on Tues, Feb 14, 2017 beginning at 3:30 PM at the NW corner of Jackson and Dearborn, outside the John C. Kluczynski Federal Building. Attendees will march to the JP Morgan Chase building on Dearborn and Monroe, rallying in support of Social Security.
Seniors and their allies are demanding no Social Security cuts and higher taxes for the rich. Seniors are also taking action against the recently confirmed Secretary of Health and Human Services Tom Price, who has supported eliminating Medicare and Social Security.
Seniors feel Social Security has been under attack since the beginning through raising the retirement age and how incomes are taxed. Currently anyone with an income under $118,500 is taxed for Social Security on all their earnings, while the wealthier stop paying after they reach the $118,500 threshold. This February, people making over $1 million a year will stop paying into Social Security. The wealthy, who don’t pay their fair share into Social Security, want to privatize the program so the money goes into the stock market. The unpredictability of the stock market and the 1%’s ability to profit off their owned stocks widely concern many people.
The Fiduciary Rule, which requires financial professionals and investment brokers to ethically invest money in the best interests of their clients instead of their own, is a ruling under threat. According to the Washington Post, the Obama administration estimated the rule would save retirement savers $17 billion a year. Still, Trump and the wealthy continue to push against it. JP Morgan Chase, which invest monies into varied private retirement funds such as 401Ks and IRAs, would no longer be required to work in the best interest of its clients if the Fiduciary Rule were rescinded. CEO James Dimon would likely see his profits increase with the Fiduciary Rule.
Under Trump and Tom Price, people are worried about their well-being and basic rights. To stop this attack and protect programs under threat like Social Security, Medicare, and the Fiduciary Rule, seniors in Chicago plan to resist the danger they face under Trump’s administration. Seniors and allies demand no cuts, no privatization, and higher tax contributions from the rich.
Jane Addams Senior Caucus is a multiracial, grassroots organization led by concerned seniors in the Chicago metropolitan area. We cross neighborhood, racial, religious and socio-economic lines to find common ground upon which to act on our values. Through leadership development, organizing and popular education, we use the power of our collective voice to work for economic, social and racial justice for all seniors and our communities.
#ResistTrumpTuesdays Chicago is organized by Fair Economy Illinois, a statewide alliance that organized urban, suburban, and rural residents around issues that affect the common good.
Seniors declare that:
Social security is a promise made so seniors and survivors can live with dignity
“My wife passed away when she was 49 and at the time we had a 7- year old daughter. We suddenly went down from two paychecks to one. Like many families, we relied on these two paychecks. With the Social Security survivor benefits that my daughter received, the dream my wife and had for her was still able to become reality. Due to these benefits, my daughter was able to remain in the school she had begun and later continue on to Gordon Tech.” -Charlie Hogan, senior with Jane Addams Senior Caucus
Social Security must be a public good, not a profit-making enterprise
“Privatizing retirement security is not the best solution because it’s set up so the 1% can make a profit. That’s why Social Security works so well and why certain members of congress backed by the 1% and corporations want to destroy it: low administrative costs, 81 years of longevity, and fiscal solvency that could be solved by taxing the wealthy fairly” -Ann Marie Cunningham, senior with Jane Addams Senior Caucus
Social Security must be accessible to everyone
“If Congress gets its way and cuts or privatizes Social Security, my life would drastically change. I would be forced to move out of my apartment, but because I currently have an income I wouldn’t qualify for subsidized housing. So, I’d also have to quit my job, putting my friend and family in jeopardy because they’d lose my support. Plus, I would lose my Medicare benefits because I pay my premium out of my Social Security benefits. I would have to pay all my medical expenses out of pocket, which would ruin me.” -Reggie Griffin, senior with Jane Addams Senior Caucus
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