Protecting an Essential Earned Benefit
Social Security
Jan Schneider is committed to saving Social Security, more formally known as Old-Age, Survivors, and Disability Insurance (OASDI), as the “safety net” for United States seniors. This issue is particularly important in the Florida 16th Congressional District, given our demographics.
A Critical Anti-Poverty Program
While statistics from census, tax and other sources vary, about half of Americans age 65 and older receive at least half of their financial support from Social Security and as many as a quarter rely on it for 90% or more of their income. The program serves as a critical anti-poverty safety net, without which the poverty rate for older adults would surge significantly from around 10% to nearly 40%.
Strengthening the System
Raising or eliminating the Social Security cap or taxable maximum, $184,500 for 2026, would go a long way toward stabilizing finances and securing the system. Cracking down on abuses, especially misclassification by employers of workers as independent contractors instead of employees, could also bring considerably more money into the system.
What Not to Do
By contrast, some proposed remedies for addressing solvency may risk fundamentally altering the nature and purpose of Social Security. In 2026 the normal or full retirement age is 67 for those born in 1960 or later; but seniors can elect to receive reduced benefits starting at age 62 and increased benefits for waiting until a maximum of 70. Raising the normal retirement age further would disproportionately disadvantage workers who are increasingly unable to perform more physical and usually lower paid work as they get older, compared to wealthier and typically healthier individuals.
Protecting Earned Benefits
Tampering with benefit formulas, either the initial primary insurance amount or cost-of-living adjustments, could also threaten the independence of vulnerable seniors and commensurately burden their families. Means testing would fundamentally change the system from one of earned social insurance to a species of welfare. Privatizing or partially privatizing the system — for example, the Republican proposal to allow workers to divert over one third of their Social Security taxes into tax-exempt private retirement accounts — would augment the impact of serious economic downturns or recessions for retirees, especially those in lower-income brackets. Individual retirement accounts, 401(k) plans and other private retirement arrangements are valuable tools; but they must remain in addition to, rather than instead of, Social Security.
Jan’s Plan
Hordes of Americans are woefully unprepared for retirement. Protecting and securing Social Security and its long-term financial viability are vital to seniors and especially important to CD16. Recommended steps to achieve this include raising the cap, curbing abuses and ceasing raiding the trust funds, among others. On the other hand, I oppose raising the retirement age, decreasing benefits and wholly or partially privatizing the system.
