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COVID-19 Pandemic Presents Income Challenges for Older Americans
by Causes
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  • davidf
    Voted Yes
    06/06/2020
    ···

    We should not only be worried about seniors but about everyone who is not Uber wealthy. There has been a steady widening of the wealth gap since the early 1980’s and Ronald Reagan’s implementation of “trickledown” economics which has facilitated a HUGE transfer of wealth to the wealthiest. That gap has continued to widen, and is complicated for seniors by their reliance on retirement benefits, 401k’s, stocks and bonds, and other investments that are stock market dependent. Social Security and Medicare are no longer assured of continuation, in part due Congressional and Administration refusal to find ways to extend its solvency, and in part due to Administration efforts to kill the ACA, to which Medicare is tied, with no replacement.

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