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Social Security is the very foundation of retirement security for millions of Americans.
Almost half of all Latinas currently on Social Security rely exclusively on their benefit check in retirement.
Social Security not only helps Americans enjoy a secure retirement, it has also kept millions of Americans out of poverty.
Retirement security is often compared to a three-legged stool supported by Social Security, employer-provided pension funds, and private savings.
Germany, I think, was first to substitute a Social Security program for its elderly based on this premise, that is, that we would tax workers to pay retirement benefits for those retired.
Because Social Security is specifically designed to boost the retirement income of low earners with a progressive benefit formula, the program has played an enormous and necessary role in keeping Latinas out of poverty.