Respect Your Elders: Oppose Social Security Reform
Experts at LULAC National Convention Predict Majority of Hispanic Seniors at Risk
Contact: Brenda Alvarez, (202) 833-6130
Little Rock, Arkansas — United States Treasurer, Ana Cabral, Lilian Rodriguez-Lopez, President of Hispanic Federation and David Kamin, Research Assistant at the Center on Budget and Policy Priorities participated at today’s debate, Social Security Privatization: What Latinos Need to Know, at the The League of United Latin American Citizens (LULAC) National Convention.
“The concept of extended families is supposed to connote love, sharing and togetherness. Not poverty and dependency,” said Hector Flores, president of LULAC. “Latino families, in particular, have great respect for elders. The thought of nearly 65 percent of Latino seniors living their Golden Years in poverty, without their due benefits, is abhorrent.”
According to today’s panelists, the plan to privatize Social Security would be devastating to the Latino community which depends more heavily on Social Security retirement benefits than any other demographic group.
“Our seniors have worked long productive lives. More often than not -- hard work, long hours and low pay,” added Flores. “They have contributed to their Social Security benefits with the expectation that The American Way will provide for them in their final years.”
The debate on the privatization of Social Security is a heated one, as reform reportedly would slash benefits by 40 percent. Contrary to popular belief about the fragility of Social Security, the existing program has not missed a payment in 70 years.
First instituted during the FDR post-depression era, Social Security was designed to keep people out of poverty, thereby ensuring a more solid, safe and productive society. Roosevelt called the Act the “cornerstone” of economic security. In his message to Congress in 1934, he urged enactment of Social Security, stating, “We are compelled to employ the active interest of the Nation as a whole through government in order to encourage a greater security for each individual who composes it.” Today, Social Security is not just a retirement program but also a disabilities program. Many consider it the greatest social insurance program this country has.
Earlier this year, LULAC and the Labor Council for Latin American Advancement (LCLAA) were joined by national and local leaders in support of the "Latinos for a Secure Retirement" coalition to save Social Security. As part of that initiative, the coalition produced the first of its kind Spanish-language commercials in support of Social Security protection.
According to LCLAA, Latinos compared to other Americans are more likely to be employed for most, if not all, of their lives in low-wage jobs without private pension benefits making them rely heavily on Social Security for a safe and secure retirement.
The League of United Latin American Citizens (LULAC) is the oldest and largest Latino civil rights organization in the United States. LULAC advances the economic condition, educational attainment, political influence, health, and civil rights of Hispanic Americans through community-based programs operating at more than 700 LULAC councils nationwide.