For Immediate Release: March 29, 2013
Richmond, Va. – In the midst of the budget negotiations, while big corporations are pressuring Congress to make cuts to Social Security, Medicare and Medicaid to avoid paying their fair share, local business owners are speaking out about the devastating affect of potential cuts to these programs.
This week, Virginia Organizing and Virginia Main Street Alliance released a new report from the Main Street Alliance and Social Security Works, Business is (Baby) Booming. The report shows the importance of Social Security and Medicare in Virginia’s economy.
Kevin Wilson, owner of Sticky ToGoGo in Richmond, said this report confirmed what small business owners already know: Social Security and Medicare provide retirement security and provide money for families to spend at local small businesses.
Wilson said, “Big corporations and wealthy Americans are taking advantage of our country by hiding behind tax havens and loopholes. It’s not competition when you have one group paying millions to lobby Congress to keep the laws working for the wealthiest few while everyone else struggles.”
Lee Whitehead, owner of Lee’s Custom Appearance in Norfolk, said, “When everyone pays their fair share, we can maintain and strengthen Social Security and Medicare instead of threatening to cut those programs and leave people without the basic securities of retirement and health care. When people feel economically secure, they are more likely to spend money, which strengthens the economy.”
Not only do small business owners benefit indirectly from Social Security, but many also rely on the program for part of their own retirement.
Whitehead said about half of his retirement income is tied to Social Security, “If I didn’t have Social Security, I would have to work until I die.” Whitehead says many small business owners are in the same predicament.
“We small business owners invest in our businesses and don’t have a lot left over for retirement savings, so we need Social Security – after all, we paid for it!” said Whitehead.
A copy of the Virginia report may be found by clicking here. To interview a spokesperson for Virginia Organizing, please contact Amanda Pohl at 804-337-1912 or amanda@virginia-organizing.org.
Virginia Organizing is a non-partisan statewide grassroots organization that brings people together to create a more just Virginia.
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