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CAMPAIGN FOR AMERICA’S FUTURE — http://www.ourfuture.org
Walgreens is an American success story. Or, at least, they used to be.
In 1904, Charles Walgreen traveled from his small-town home in Dixon, Illin
ois, to Chicago and opened a pharmacy and soda fountain.
In the decades that followed, Walgreens grew with the city and the nation.
(Even if you could no longer buy a slice of pie from Myrtle Walgreen’s kitc
hen.) Today they are the largest drug retailer in America.
Walgreens should be a proud American company. But they don’t want to be.
They think they’d be better off if they were Swiss.
But they’re not moving anything.
It’s a gimmick. They call it “inversion.”
It’s a trick that companies use to skip out on their taxes by declaring the
mselves a foreign company. That leaves the burden on Americans and American
Walgreens is counting on the American people staying in the dark until it’s
too late. That’s where you come in.
We need your help to expose this scam, pressure Walgreens to do the right
thing and shut down the tax loophole that allows this to happen. Can you he
lp with a $10 donation to support this campaign?
The Campaign For America’s Future has helped turn back the tide on these so=
rts of scams before
The latest annual report from the trustees for Social Security and Medicare came out today. It provided some very good news on the health care front: the report extended Medicare’s solvency by four years from 2026 to 2030. This improved financial health can be attributed in part to the Affordable Care Act, which is helping to reduce costs. Just a few years ago, before the Affordable Care Act was fully implemented, the trustees predicted that the Medicare trust fund would run out by 2016. Another reason to be thankful for the ACA.
On the Social Security front, some news reports are focusing on the financial shortfall that the program faces in the next 75 years. But it is both expected and manageable. Here are the four key takeaways, from a post by Center for American Progress experts Rebecca Vallas and Christian E. Weller:
1. Social Security can continue to pay all promised benefits for the next two decades. As was the case in last year’s report, the Trustees continue to estimate that Social Security will be able to pay all scheduled retirement, disability, and survivorship benefits through 2033. Social Security has two trust funds: one for the retirement and survivorship benefit programs, and one for the much smaller Disability Insurance (DI) program (although experts generally consider the two funds together due to the interrelated nature of Social Security’s programs). Individually, the Old Age and Survivors Insurance (OASI) trust fund is projected to deplete its reserves in 2035, and the DI trust fund will do so in 2016. After 2033, the Trustees project that Social Security income from payroll taxes will be sufficient to cover 77 percent of promised benefits after 2033, unless policymakers implement changes before then.
2. Social Security’s shortfall is modest. The Trustees project that the entire Social Security shortfall for the next 75 years will be about 1 percent of GDP, or 2.88 percent of taxable payroll. The bulk of this shortfall, 2.55 percent of payroll or 88.5 percent of the entire shortfall, is attributed to OASI. The Trustees have long projected both the OASI and DI shortfalls. While an aging population is frequently discussed as the driving factor, recent analysis by Monique Morrissey at the Economic Policy Institute finds that as much as half of the shortfall is attributable to rising inequality and wage growth that has lagged behind gains in productivity.
3. The fact that action will soon be needed to address Disability Insurance’s finances has long been expected. As with last year’s report, this year the Trustees continue to project that the DI trust fund will be exhausted in 2016—something that has been expected for nearly 20 years.
4. A routine step would ensure that Social Security can pay all benefits in full through 2033. Rebalancing—an adjustment in the share of payroll taxes allocated to each of the trust funds—has occurred in a bipartisan manner 11 times in the program’s history to account for demographic shifts or other changes. About half the time funds have been reallocated toward OASI, and about half the time toward DI.
BOTTOM LINE: The trustees for Social Security and Medicare brought the good news that Medicare’s financial health is better than expected. And the predictions it makes for Social Security are both expected and manageable–permitting our elected officials can take action to strengthen this program that is a bedrock of economic security for working Americans.
For most of us, the weekend means taking some time to relax and do something fun after a full week of work. Maybe it’s going out to dinner, seeing a movie, watching a child’s soccer game, or traveling to visit friends or family. But for full-time minimum wage workers, there’s little if any room to afford such activities. After housing and tax expenses, full-time workers earning the federal minimum wage of $7.25 an hour have just $77 per week on average left for other expenses. Take a look at some of the graphics below to see how many of the things we take for granted are simply not feasible on that budget. And ask yourself, where would you cut?
Workers who make the minimum wage have little, if any, leeway in how they spend their money each week. $7.25 an hour is not enough to live on—much less enough to invest back into the community. In solidarity with these workers, leaders and activists around the country are taking the #LiveTheWage challenge, attempting to live on $77 for one week in an effort to highlight the critical need to raise the federal minimum wage. Check out Governor Ted Strickland talking and tweeting about his experience so far.
BOTTOM LINE: It’s been over five years since the last increase to the federal minimum wage. If we raise the wage to $10.10, it would lift 4.6 million Americans out of poverty and would raise the wages of 28 million Americans by a total of $35 billion dollars. That means more than just a long-awaited paycheck increase — it means more people able to go to the state fair, watch their kid’s soccer game, or see a movie every once in a while.