Monday, July 27, 2020

Republicans want to do to Social Security what they did to the postal service

The pandemic is killing a thousand people every day.

Tell Congress:

"Hands off Social Security and Medicare! Instead of cutting vital benefits during a disaster, we should be helping people survive the pandemic! Keep the TRUST Act out of any COVID-19 deal!"

Friend,

In 2006, a harmless-sounding bill was passed that drove the US Postal Service into debt, and is responsible for the current mail crisis.

Now, Congress is preparing to pass another bill to set up major pieces of American infrastructure to be destroyed! The TRUST Act, championed by Mitt Romney in the Senate, would set up a fast-tracked commission to cut Social Security and Medicare right AFTER the election, letting defeated Senators get their revenge on the American people by cutting our earned benefits.

SIGN NOW: Tell the Senate HANDS OFF Social Security and Medicare!

The destruction of the Postal Service started with a bill forcing it to pre-fund pensions. It sounds good―who doesn't want pensions!―but when you realize that now have to fully fund pensions for postal workers who haven't even been born yet, you realize that the devil is in the details.

The devil in the TRUST Act is that it takes a virtue―the dedicated trust funds that pay for Social Security, Medicare, and the Highway system―and turns them into a vulnerability any time there's a downturn.

Take Social Security for an example: Social Security has $2.9 trillion in the bank, but with Great Depression-level unemployment, Social Security's dedicated revenue is down. People pay in with every paycheck, but with 40 million fewer paychecks going out, revenue is down. So Social Security may end up drawing on that $2.9 trillion this year. That's fine! That's how the system is supposed to work! But if the TRUST Act is passed, that would trigger a process to cut benefits until the trust fund isn't tapped.

The pandemic is killing a thousand people every day. But Republicans don't care―they're dead set on using the carnage to destroy everything that makes America great. SIGN NOW: HANDS OFF Social Security and Medicare!

Thanks,

Mike Phelan
Progress America

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