Palm Beach writer delivers lesson on 'real problem facing Floridians' — and it’s not 'drag queen story times'
A columnist at The Palm Beach Post highlighted what he believes is the “real problem facing Floridians,” arguing the most pressing issue in the state is "not trans swimmers, unvarnished Black history or diversity training at your job," but the right's ongoing effort to gut Social Security.
According to Frank Cerabino’s column, Florida relies on social security payments to its residents more than any other state. He reported that more than 1 million residents look to the program to keep "from living below the poverty line."
But even with that knowledge, Senator Rick Scott (R-FL) has his sights set on eventually cutting Social Security payments as he claims the program is "going bankrupt."
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Cerabino counters Scott's assertion with a statement from the Social Security Administration.
“After the projected trust fund reserve depletion in 2034, continuing income would be sufficient to pay 78 percent of program cost, declining to 74 percent for 2095,” the administration confirmed.
Scott's ideas around the program approaching bankruptcy are outlined in his "Rescue America" plan, which Cerabino asserted could "gut" Medicare and Social Security in five years.
As of now, Floridians can receive Social Security payments if they're at least 62 years old, and "as late as 70." But Scott's fellow GOP lawmakers are considering raising the "retirement age" — or "the point that the monthly payments are paid at 100 percent of the primary insurance amount" — from 67 to 70.
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Matt Bruenig with The People’s Policy Project explained that "there are really 96 retirement ages in Social Security, one for each month between the ages of 62 to 70." Further, "the earlier you take your benefit, the less you get; the more you wait, the higher the monthly payment," Cerabino reported.
"A proposal to raise the retirement age to 70 is just a proposal to cut monthly benefits by around 23 percent at all 96 retirement ages," Bruenig said.
The AARP Policy Institute studied the number of people who use Social Security at age 62 versus the number of “later claimers,” and found that “early takers have less education and are more likely to live in rural areas and less likely to have IRAs or other defined-contribution plans.” They also are prone to live with a “work-limiting health condition.”
As a result, Cerabino reports that cutting their Social Security will result in poverty for many.
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The Center on Budget and Policy Priorities said, “Without Social Security benefits, 37.8 percent of older adults would have incomes below the official poverty line, all else being equal. With Social Security benefits, only 9 percent do.”
Research done by the center highlighted that over 1.3 million Floridians, or 6 percent of Florida's population, aged 65 and older can live above the poverty line with the help of Social Security.
Cerabino concludes his analysis by once again drawing attention to the issues Florida lawmakers are focusing on, such as "peril from asylum seekers in Texas, drag queen story times or felon voters." Perhaps, the sunshine state's lawmakers and those voting for them should instead turn their attention to the stealth "retirement" of Social Security.
