This week, Rep. David Cicilline (D-RI) introduced a resolution in the U.S. House of Representatives expressing clear opposition to using the chained CPI method to calculate cost-of-living adjustments (COLAs) for Social Security benefits. In light of recent budget proposals that include chained CPI, it is crucial that Rep. Cicilline’s resolution receives a high level of support. More than 2,600 members of the Alliance have already contacted their Members of Congress asking them to co-sponsor the resolution. The Cicilline resolution is H. Con. Res. 34 and has 81 co-sponsors listed here.(Rep. Cicilline pictured at right with Rhode Island Alliance President John Pernorio)
The Alliance released a statement this week regarding legislation that lowers prescription drug prices. In a response to the federal government paying unconscionably high drug prices for dual-eligibles on Medicare, Senator Jay Rockefeller (D-WV) introduced a bill on Tuesday to require drug companies to provide discounts for low-income Medicare beneficiaries, as they currently do under Medicaid. The Alliance strongly supports Sen. Rockefeller’s legislation, S. 740, which would save taxpayers and Medicare beneficiaries billions of dollars.
After passage of the Medicare prescription drug law in 2003, drug companies received windfalls worth billions of dollars, as a result of no longer applying rebates for dual-eligibles (beneficiaries who qualify for Medicare and Medicaid). Senator Rockefeller’s 2013 Medicare Drug Savings Act reverts back to previous law and recaptures the savings lost under the 2003 law. “By simply returning these beneficiaries to Medicaid-negotiated rebates, taxpayers would save $141.2 billion over the next ten years,” said Edward F. Coyle, Executive Director of the Alliance. The Rockefeller bill has 18 cosponsors listed here.Read the full Rockefeller press release and see a coalition letter of support here.
The Alliance invites you to watch the new PBS documentary “Age of Champions” for free from April 18th - 28th, here. Age of Champions tells the story of five competitors who sprint, leap, and swim for gold at the National Senior Olympics. You’ll meet a 100-year-old tennis champion, 86-year-old pole vaulter, and rough-and-tumble basketball grandmothers as they triumph over the limitations of age. The film premiered to a standing ovation at the Silverdocs Film Festival. The Washington Post hailed it as “infectiously inspiring,” and it’s already shown at more than 1,000 venues around the world.
Invite your family, friends, and colleagues to watch the film by sharing the link on Facebook. Also invite them to a live filmmaker Q+A on April 25th at 12:30, 3:30 and 6:30pm PST! Watch the trailer and learn more at http://ageofchampions.org/premiere.
Alliance chapters in several states held events centered on health care this week. The list included - but was not limited to - Missouri, Ohio, Pennsylvania, and New Mexico. Missouri Alliance members joined friends in holding a Medicaid expansion and lobby event at the Capitol in Jefferson City on Tuesday. Missourians lobbied for a bill that would provide FULL Medicaid Expansion, to 138% of the federal poverty level.
The same day, Ohio Alliance seniors came together with other activists at the statehouse in Columbus in an effort to fund health coverage for an additional 275,000 Ohioans with their state budget.
On Thursday, Pennsylvania Alliance members joined the 120+ organizations of the “Cover the Commonwealth” Campaign in 8 cities across the state. They held events to tell Harrisburg, “Don't Leave the Money on the Table,” and to expand Medicaid. The events highlighted that the health care law offers Pennsylvania $43 billion over the next ten years to expand health care coverage to 700,000 working people, yet opponents of health care reform don't want to take the money.
Last week, New Mexico seniors joined CWA members at rallies in 6 cities across the state to stop CenturyLink’s bullying bargaining tactics, and to tell the company to honor retiree benefits and health care.
According to the Social Security Administration, increasing numbers of retirees have been claiming early Social Security benefits since the economic recession began in 2008, likely because of increasing unemployment and difficulty finding work.
In 2007, 33.5% of men and 36.3% of women claimed early benefits at age 62. Only two short years later, in 2009, 35.8% of men and 38.9% of women claimed early benefits.
Barbara Easterling, President of the Alliance for Retired Americans said, “This data is a clear illustration that raising the eligibility age for Social Security would be devastating for seniors.”
This week, coinciding with Tax Day, the AFL-CIO released Executive PayWatch 2013, a comprehensive searchable database tracking the excessive pay of corporate CEOs.
The CEOs of the top 500 companies now make an average of 354 times the average wage of a U.S. worker; this income inequality has significantly worsened in the last 30 years. In 1982, top CEOs made only an average of 42 times the average wage of a US worker. To view the database and compare your own pay to that of a CEO, click here.
“In order to enjoy a secure retirement, Americans must receive a fair wage during their working lives,” said Ruben Burks, Secretary-Treasurer of the Alliance. “When CEOs keep increasing their own pay to astronomical amounts at others’ expense, workers cannot afford to save for retirement.”
The Alliance joined the broad Strengthen Social Security coalition Tuesday at the White House to deliver 2.3 million petitions against the proposal to change the Social Security cost of living adjustment (COLA) to the chained CPI formula, which would cut benefits for current and future beneficiaries. President Obama’s budget released Wednesday outlines over $4 trillion in deficit reduction, but headlines centered around his first-ever proposal to cut Social Security. Tuesday’s action was widely covered in the media. Tens of millions of workers, seniors and disabled veterans were represented. Their message: “We must not balance the budget on the backs of the elderly, disabled vets, the sick, the women or the children.” Senator Bernie Sanders (I-VT), headlining Tuesday’s event, said, “When one out of four major profitable corporations pays nothing in federal income taxes, we know how we can deal with deficit reduction in a way that is fair.” Videos from the press conference and rally can be viewed here.
On Thursday, House Democratic leaders dismissed President Obama’s inclusion of Social Security cuts in his 2014 budget. Top-ranking Democrats including Nancy Pelosi (D-CA), Steny Hoyer (D-MD), James Clyburn (D-SC) and Xavier Becerra (D-CA) questioned the validity of changing Social Security as part of a deficit reduction package. Becerra pointed out, “Social Security has never added a penny to the deficit or the national debt … Why you would take $230 billion through the chained CPI by cutting benefits for seniors, veterans and the disabled?” Edward F. Coyle, Executive Director of the Alliance for Retired Americans said, “Federal budgets are about more than just numbers, they clearly reflect of our national priorities. It’s time to ask corporations to pay their fair share and stop proposing balancing the budget on the backs of seniors, retired veterans and people with disabilities.” Click here to see a new ‘federal budget update’ fact sheet comparing the President’s proposal with the House and Senate’s.
The Alliance supports the use of the consumer price index for the elderly (CPI-E) which calculates the Social Security COLA in order to assure that the purchasing power of the benefit is maintained as beneficiaries’ age and more accurately reflects retirees’ expenses.
According to a new study from the Washington University School of Medicine, eye drops intended to lower cholesterol could have an additional effect – curing macular degeneration, which is the leading cause of blindness in Americans over the age of 60. The study found that the eye drops successfully cure macular degeneration in mice. This research still needs to be tested in humans, but it could potentially have an impact on how macular degeneration is treated.
Although research is still in the early stages, it is encouraging. Finding a successful cure for macular degeneration would improve the quality of life for millions of seniors.
Tuesday marked Equal Pay Day. The date symbolizes the day in the New Year that women have to work to match the income their male counterparts made in the previous year. Women are about 2/3 of minimum wage workers in this country, and more than half of women are the sole or an essential supporter of their families.
“Women are disproportionately dependent on Social Security – we work longer hours at less pay; we have less savings at the end of their working lives; we are more likely to work in jobs that don’t offer pensions or healthcare or even 401ks… so we rely on Social Security,” said Terry O’Neill, National Organization for Women President said.
Alliance members like Barbara Stone in Nevada can tell you what it means to earn less, sometimes half the wage that her male colleagues earned, and to live solely on income from Social Security. Ms. Stone raised 5 children on her own and contributed to Social Security throughout a long life of work which began at 13 years old. In light of recent proposals to cut Social Security or switch to the chained CPI COLA formula, Barbara Stone said, “We cannot let it happen.” Check out how the chained CPI translates to weeks of food lost to single elderly women:
Leah Witherspoon, Chair of the Dallas chapter of the Texas Alliance, was profiled in a national article this week about the chained CPI. Read it here.
The 11 largest drug companies took $711.4 billion in profits over the past 10 years, according to an analysis of corporate filings by Health Care for America Now (HCAN). The global pharmaceutical industry derived much of that profit from the significant charges to the Medicare Part D prescription drug program for seniors and people with disabilities. Thanks in part to inflated costs paid by the Part D program, the 11 drug companies booked $76.3 billion in profits in 2006 – an extraordinary 34 percent increase from the previous year, when Part D was not yet in place. Medicare — the largest purchaser in the world’s largest drug market – is prohibited by law from negotiating better drug prices.
Americans pay the highest drug prices in the world.
“The drug industry’s profits are excessive as a result of overcharging American consumers and taxpayers,” said Ethan Rome, HCAN’s Executive Director. “During this period, as millions of Americans struggled to afford their medicines, Republicans in Congress have threatened to cut seniors’ benefits while refusing to consider commonsense measures to get a better deal from drug companies.” More here. The Congressional Budget Office indicates that allowing Medicare to negotiate the same bulk purchasing discounts on prescription drugs as Medicaid or the VA would save the federal government $137 billion.
According to Americans for Tax Fairness, Pfizer paid no U.S. income taxes from 2010 to 2012 while earning $43 billion worldwide. It did this partly by performing accounting acrobatics to shift its U.S. profits offshore. Instead, it received $2.2 billion in federal tax refunds. The offshore profits amounted to $73 at the end of 2012, on which Pfizer paid no U.S. income taxes.
If only Pfizer were the exception and not the rule.
