AARP voices concerns about Social Security tax
Starting this week, AARP Texas staff and volunteers will be delivering more than 100,000 petitions to members of Congress voicing concerns about cuts in Social Security benefits. At the same time, a newly released study from the AARP Public Policy Institute indicates that Social Security generates billions for Texas’ economy.
Social Security’s Impact on the National Economy calculates that each dollar paid to Social Security beneficiaries in Texas generates more than two dollars in spending by individuals and businesses, adding about $97 billion in total economic output to the Texas economy – and about $1.4 trillion to the national economy – in 2012. The report also finds that the $48 billion paid in Social Security benefits in 2012 helped Texans keep or find more than 619,000 jobs.
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