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WILLIAM WANG FOUNDATION INC's Fundraiser:

SAVE OUR RETIREES MOVEMENT

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THE STORY:

SAVE OUR RETIREES... Writing and talking to our Representatives and Senators: http://www.contactingthecongress.org/ and all of the national candidates that we only support those who support our movement: PUSH FOR THE RETIREE SOCIAL SECURITY PAYMENT TO BE KEPT UP WITH THE CITY MINIMUM WAGE INCREASE. Los Angeles is raising minimum wage from $8/hr on January 1, 2014 to $15/hr by July 1, 2020. So are many other cities with their own scheduled increases. For a retiree who retired in Los Angeles on January 1, 2014 receiving social security payment equivalent of the city min wage of $8*40*4.3=$1,376 per month, the retiree will see his monthly social security payment only at 53% of the city min wage ($8/$15=0.53) on July 1, 2020 (plus some minimal annual social security payment increase.) How are our retirees going to survive with this fast paced wage increase? Their social security payments need to keep up with the city minimum wage increase. Now how our nation is going to pay for it? Simple. When the city minimum wage increase, so are the contributions to the FICA-SSA, Social Security payroll taxes 6.2% each for employees and employers up to $118,500 of earnings in 2015. If need to remove the limit, so be it. We do have many years of surplus invested from the past decades. You can contact our elected officials and candidates to advance this movement. You can also contribute monetarily in any amount, to be used to mobilize our seniors and anyone who is willing to help in setting up booths/ tables at all locations possible to advance this movement / collecting signatures to be sent to the Congressmen and Senators. CA minimum wage on January 1, 2016 is to be $10.00. Los Angeles enacted its own minimum wage in 2015 by city council ordinance. Upcoming increases $10.50, effective July 1, 2016 $12.00, effective July 1, 2017 $13.25, effective July 1, 2018 $14.25, effective July 1, 2019 $15.00, effective July 1, 2020 Annual indexing beginning July 1, 2022

Social Security Has “A Large and Growing Surplus” http://www.accuracy.org/release/social-security-has-a-large-and-growing-surplus/

 

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