4 results found
Issue Brief: Low-Income Older Adults Face Unaffordable Rents, Driving Housing Instability and HomelessnessFebruary 16, 2021
Older adults are at the center of the nation's housing affordability and homelessness crisis. Older adult renters are more likely to pay a large proportion of their income for rent than the population as a whole, and this extreme rental cost burden places them at increased risk of housing instability and homelessness. In many parts of the U.S., low-income older adults are the fastest growing segment of the homeless population. Due to discrimination and higher rates of poverty, Black and Latinx older renter households are more likely than white older renters to face severe rent burdens. The pandemic has made the situation worse. Justice in Aging and the National Low-Income Housing Coalition co-authored a new issue brief, Low-Income Older Adults Face Unaffordable Rents, Driving Housing Instability and Homelessness, that dives into the data behind what's driving this crisis and offers policy solutions that will help ensure no older adult is pushed into homelessness. Solutions include investing in more affordable, accessible housing for seniors; increasing income supports for lower-income seniors; and making health care more affordable and accessible. These investments, combined with integrating affordable housing with community-based health and social supports, will go a long way toward solving the problem. Click "Download" to access this resource.
Illinois is at a turning point. While the total state population is shrinking, it continues to age and diversify. More than 34 percent of the state population of Illinois is above the age of 50 and continues to age. Of Illinoisans above the age of 50, more than a third are African American/Black, Hispanic/Latino, or Asian American/Pacific Islander. In large population centers, such as suburban Cook County and Chicago, one-half to two-thirds of older adults are of color.Yet even with these changing demographics, there has been little study of the experiences and needs of African American/Black, Hispanic/Latino, and Asian American/Pacific Islander older adults in Illinois and the public policy responses to the needs and challenges of these communities. With the onset of the COVID-19 pandemic, and the devasting effects of the pandemic on older adults in particular, the need to focus on these older communities of color is more paramount than ever.Given these changing demographics and growing challenges, AARP, in partnership with collaborating organizations Asian Americans Advancing Justice - Chicago, Chicago Urban League and The Resurrection Project, engaged Loyola University Chicago's Center for Urban Research & Learning to conduct a literature review and analysis of the existing research and data focused on African American/Black, Hispanic/Latino, and Asian American/Pacific Islander older adults in Illinois.This resulting report focuses on the issues of economic security, health and digital connectivity for older adults of color in communities. The authors have outlined first-step policy recommendations that should be taken at the state and local level to begin to address these challenges for older adults of color.Click "Download" to access this resource.
Most Americans know that their earnings are subject to the Social Security payroll tax. Not as many are aware that the amount of earnings subject to the tax, while liable to change, is capped at the same level for everyone, regardless of total earnings. This year, the maximum wage earnings subject to the payroll tax is $132,900.The cap on the Social Security payroll tax means that those with the highest earnings effectively pay a lower rate. People who earn a million dollars a year pay this tax on about an eighth of their earnings. People who earn a quarter of a million dollars pay the tax on just over half their earnings. It is important to note that this just applies to wage earnings, not other forms of income. If the individual earning $250,000 a year makes another $250,000 from investments, then they end up paying the Social Security tax on about a fourth of their income. The vast majority of workers fall below the $132,900 cap though, and have significantly less stock or other income, if any. As a result, all or most of their income is subject to the payroll tax.
Alzheimer's Disease Facts and Figures, an annual report released by the Alzheimer's Association®, reveals the burden of Alzheimer's and dementia on individuals, caregivers, government and the nation's health care system.
Showing 4 of 4 results