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A BILL TO END POVERTY BY 2020

 

(a) To amend the federal minimum wage from $7.25 an hour 2009-2017 to '$7.50 in 2018 and 3% more every year thereafter.' under 29USCĄ206(a)(1)(D).

(b) To provide 14 weeks of (unemployment compensation) paid Maternity Protection under ILO Convention 183 (2000).

(c) To amend the 1.8% DI tax rate starting January 1, 2019 in Sec. 201(b)(1)(T) of the Social Security Act under 42USCĄ401(b)(1)(T) to either;

(c-1) 2.1% DI tax, or (c-2) 2.0% DI tax if OASI pays $240 billion including 2.5% interest in assets for CY09-CY15 to replicate to the extent possible revenue that would have been received if the OASDI tax had been properly adjusted by Public Law 112-96.

(d) To replace the Adjustment of the contribution and benefit base under Section 230 of the Social Security Act 42USCĄ430 with 'There is created in the Treasury a Supplemental Security Income Trust Fund.' (d-1) To tax the rich the full 12.4% Old Age Survivor and Disability Insurance (OASDI) Federal Income Contribution Act (FICA) on all their income to pay 16-24 million children growing up poor SSI benefits CY18 and end poverty by 2020.

(e) To end benefit attrition with a 3% Cost of Living Adjustment (COLA) rule every year inflation continues to run about 2.7% and the Trust Fund Ratio is greater than 20% under Sec. 215(i) of the Social Security Act 42USCĄ415(i). To make an exception to the rule to pay $777 mo. SSI a 5.7% COLA is needed from CY17, a 2.7% COLA CY18 followed by 3% COLA to $777 SSI CY19 and 3% COLA every year thereafter. 

(f) To create in the Treasury a United Nations Trust Fund.

 

Be it enacted in the House and Senate Assembled

 

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Email:  Anthony J. Sanders at sandersasylum@gmail.com