Protect Social Security to Combat Rising Elderly Poverty

The current landscape of Social Security is precarious, with impending demographic shifts highlighting the need for increased revenue rather than benefit cuts. The United States faces the highest elderly poverty rate compared to its peers, compounded by a failing 401K system that leaves middle-class workers facing financial insecurity in retirement. Many individuals lack adequate retirement savings, and the existing Social Security benefits fail to prevent poverty among the elderly. Proposals to raise the retirement age may further exacerbate this issue, leaving vulnerable populations in dire financial straits during critical transitional years. Inaction over the next decade could lead to a significant crisis for retirees reliant on these benefits.