The McMahon Plan For Social Security and Medicare: A Nightmare For Connecticut Seniors

October 02 2012

More Than 400,000 CT Seniors Lose $15,000 Every Year In Social Security Benefits

Ryan-McMahon Plan Would Privatize Medicare, Increases Retirement Health Costs By More Than $50,000

ROCKY HILL-A review of former wrestling CEO Linda McMahon’s plans to end Social Security and privatize Medicare shows that her extreme policies would push more than 150,000 Connecticut seniors into poverty and increase retirement health care costs by more than $50,000 for over 500,000 adults nearing retirementacross the state. Last week, McMahon confirmed her support for a “sunset provision” to cut off Social Security and the infamous Ryan Plan to turn Medicare into a voucher program.

“Linda McMahon’s plans to end Social Security and privatize Medicare aren’t just bad ideas, they’re extreme and dangerous policies that would devastate hundreds of thousands of Connecticut families,” said Murphy campaign spokesman Eli Zupnick.  “When Linda McMahon panders to the Tea Party and pushes radical ideas to curry support from national Republicans, she’s playing politics with the livelihoods of more than 500,000 seniors in our state.”

The McMahon Plan For Social Security:

·      "Sunset" Social Security, cutting off a crucial lifeline for 437,382 seniors in Connecticut.

·      Cut an average of $15,052 each year in Social Security benefits that Connecticut seniors have earned after a lifetime of hard work.

·      Push 153,000 Connecticut seniors into poverty.

o     Social Security helped reduce poverty levels among seniors from what would have been 40.8% between 2006-2008 to 6.9%.  [Social Security Works, 8/2012]

The McMahon-Ryan Plan for Medicare:

·      Force 575,597 Connecticut near-elderly individuals, now age 47-56, off of traditional Medicare and onto a voucher program.  [DPCC, Connecticut Fact Sheet]

·      Raise Medicare costs for those 54-year-olds near retirement by $59,500 during retirement. 

·      Increase Medicare costs during retirement for current 48-year olds by $124,600.  [Center for American Progress, 8/24/12