Without Social Security, Elderly Poverty Rate Would Be More Than Four Times As High
Without Social Security benefits, the elderly poverty rate would be more than four times as high and about 40 percent of Americans 65 years of age and older would have incomes below the poverty line, finds a report from the Democrats in the Joint Economic Committee.
The report also found getting rid of Social Security would cause 15 million seniors to fall into poverty.
Social Security benefits don’t just help out beneficiaries, but also their family members and the American economy as a whole, according to the report. The report goes on to say Social Security is under attack and its existence is being threatened, that’s why “families need Congress to protect their access to this vital program.”