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Keyword: socialsecurity

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  • Reince Priebus: “I don’t think President Trump wants to meddle with Medicare or Social Security”

    01/09/2017 2:28:37 PM PST · by SeekAndFind · 21 replies
    Hotair ^ | 01/09/2017 | AllahPundit
    Big news from yesterday, both policy-wise and politically. Remember, Senate Dems are going to try to sink Tom Price during his confirmation hearing this month because he wants to replace Medicare with a voucher system. Medicare will be a linchpin of their 2018 midterm strategy, especially in red states where they’re in trouble: Between Price, Mick Mulvaney at OMB, and of course Paul Ryan, Trump has aligned himself with some of the most aggressive entitlement reformers in Washington. The more power you hand to Republicans, Dems will say to Trump’s blue-collar base, the more you’re gambling with your health...
  • Priebus: Trump doesn't want to 'meddle with Medicare or Social Security'

    01/08/2017 5:03:09 PM PST · by 2ndDivisionVet · 32 replies
    The Hill ^ | January 8, 2017 | Rebecca Savransky
    Incoming White House Chief of Staff Reince Priebus on Sunday suggested President-elect Donald Trump stands by his campaign vow not to cut Medicare. "I don't think President-elect Trump wants to meddle with Medicare or Social Security," Priebus said on CBS's "Face The Nation." "He made a promise in the campaign that that was something that he didn't want to do." The president-elect does plan to grow the economy and help "shore up Medicare and Social Security for future generations," Priebus said. "And if we can get 3 to 5, 6 percent growth, we'll do that," he said. "And we'll explode...
  • The Champions of the 401(k) Lament the Revolution They Started (Teresa Ghilarducci, again)

    01/02/2017 11:45:22 AM PST · by abb · 95 replies
    snip Economist Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis, says she offered assurances at union board meetings and congressional hearings that employees would have enough to retire if they set aside just 3% of their paychecks in a 401(k). That assumed investments would rise by 7% a year. snip Ms. Ghilarducci wants to ditch the 401(k) altogether. She and Blackstone Group President Tony James are recommending a mandated, government-run savings system that would be administered by the Social Security Administration and managed by investment professionals. While both are Democrats, they believe their solution has bipartisan appeal....
  • Social Security Benefit Cuts In 2017 May Curb Trump's Plans

    12/30/2016 2:28:55 AM PST · by expat_panama · 78 replies
    Investors Business Daily ^ | Dec. 29, 2016 11:53 AM ET | JED GRAHAM
    Social Security benefits will be cut at the start of 2017 for everyone who has yet to turn 62. Those cuts will grow in each year to 2022, reaching 7% for everyone now 56 and under, as the official retirement age rises two months per year to 67. Those benefit cuts are part of the daunting math for Social Security and the federal budget that could cause speed bumps for, or perhaps even curb, President-elect Donald Trump's big fiscal plans. 1) Once the retirement age rises to 67, Social Security's early retirement penalty will cut annual benefits by 30%... 2)...
  • Social Security Administration Publishes Final Rule Relating to NICS Improvement(T)

    12/28/2016 10:21:16 AM PST · by rktman · 20 replies
    blog.princelaw.com ^ | 12/23/2016 | Adam Kraut, Esq.
    It has been well reported that the Social Security Administration (“SSA”) had been passing along information of individuals that it deemed unable to handle their financial affairs to NICS for the purposes of preventing them from purchasing a firearm due to being “adjudicated as a mental defective.” In May of this year, the SSA published a Notice of Proposed Rulemaking. It received over 91,000 comments relating to the proposed rule. Of those, 86,860 were identical letters submitted by various individuals of a single advocacy group, opposing the proposed rule. On December 19, 2016, the SSA published a Final Rule on...
  • Obama uses last weeks to grab guns from seniors

    12/27/2016 9:03:00 AM PST · by Oldpuppymax · 36 replies
    The Coach's Team ^ | 12/27/16 | Suzanne Eovaldi
    In what the NRA is calling "Obama's attempt to implement the largest gun grab in American history," senior citizen veterans on Social Security very well may have their Constitutional right to own guns stripped from them. Approximately 177,000 military veterans have been snared by this gun grab already as the VA has implemented a program which prohibits vets owning a firearm if they collect Social Security and have a "representative payee assigned to their accounts to help them manage their payments and receipts." By this method, the Obama federal bureaucracy will effectively implement just what the US Supreme Court decision...
  • Obama Administration Finalizes Social Security Gun Ban

    12/24/2016 7:02:39 AM PST · by rktman · 55 replies
    breitbart.com ^ | 12/23/2016 | AWR Hawkins
    On Monday the Obama administration finalized a Social Security gun ban that could prevent “tens of thousands” of law-abiding elderly citizens from purchasing guns for self-defense. Breitbart News reported this ban on July 18, 2015, when it was learned that the Obama administration was creating a ban on gun purchases that would apply to Social Security recipients who needed help managing their finances. The Los Angeles Times reported that the ban would be sweeping; that it would cover those who are unable to manage their own affairs for a multitude of reasons–from “subnormal intelligence or mental illness” to “incompetency,” an...
  • GOP introduces plan to massively cut Social Security [The Lies Begin Again! #FakeNews]

    12/09/2016 5:06:25 PM PST · by SoFloFreeper · 43 replies
    Yahoo Fake News ^ | 12/9/16 | Ethan Wolff-Mann
    am Johnson, a Republican from Texas and chair of the Ways and Means Committee, introduced legislation to significantly cut Social Security. The bill introduced by Johnson, who is also the chair of the Social Security subcommittee, slashes benefits, adds means testing, and would raise the retirement age from 67 to 69. ...Michael Linden, associate director...at Center for American Progress, pointed out on Twitter, a letter from Social Security’s Office of the Actuary calculated workers making around $50,000 would see checks shrink by between 11% and 35%.
  • SSI took away my rights and made me too poor to survive

    12/06/2016 7:54:49 AM PST · by mainestategop · 21 replies
    Mainestategop ^ | Brian Ball
    The following is an email from Mark Nugent of Sacramento california who at the age of 16 was forced into the mental health system against his will, branded mentally ill, stripped of his trust fund by his liberal parents and forced on SSI. The SSI program was originally intended for those liberals branded too old or too stupid to work. It pays very little, about $695 a month and to receive it one must not hold assets or property worth more than $2000.  People with disabilities who receive SSI [Supplemental Security Income] payments continue to be the nation’s poorest citizens....
  • Social Security to take disabled woman’s money after fund-raiser sends her to a baseball game

    12/05/2016 12:40:01 PM PST · by 198ml · 41 replies
    Q13Fox | 12/5/16 | Tribune Media
    One Kansas City Royals fan feels like she is being punished for the good deed of others. Joyce Jeter has a debilitating medical condition, causing her to rely on Social Security as her only source of income. Royals fans rallied around her to raise money to send her to a game at Kauffman Stadium, but now that gift is leaving her financial future in jeopardy. Joyce told Fox4KC she feels like she's being robbed all because she accepted a gift.
  • Schumer: Republicans Are 'Plotting a War on Seniors'

    11/30/2016 6:18:08 AM PST · by Olog-hai · 114 replies
    Cybercast News Service ^ | November 30, 2016 | 5:45 AM EST | Susan Jones
    During the presidential campaign, Republican Donald Trump said he would not cut Social Security, Medicare or Medicaid, but no matter. Sen. Chuck Schumer, the next Senate minority leader, on Tuesday warned that Republicans are “plotting a war on seniors.” The New York Democrat said he was “so disappointed” that Trump has nominated Rep. Tom Price (R-Ga.) to be his Health and Human Services secretary. “When it comes to issues like Medicare, the Affordable Care Act and Planned Parenthood, Congressman Price and the average American couldn’t be further apart,” Schumer told a news conference on Capitol Hill. …
  • Three Ways Trump, GOP May Cut Social Security, Medicare

    11/17/2016 8:34:20 AM PST · by MadIsh32 · 50 replies
    Forbes ^ | November 16th | John Wasik
    “We’re not going to hurt the people who have been paying into Social Security their whole life,” Trump declared, calling the payment of promised benefits “honoring a deal.” But the man heading the Trump transition team’s Social Security effort? Michael Korbey, a former lobbyist who has spent much of his career advocating for cutting and privatizing the program, according to Yahoo News. “It’s a failed system, broken and bankrupt,” Korbey said as a lobbyist in the mid 1990s. Korbey acknowledged that some of the reforms his group backed would hurt retirees, but “our constituents aren’t just senior citizens,” he told...
  • Donald Trump Calls Hillary Clinton a 'Nasty Woman' During Debate

    10/19/2016 8:39:56 PM PDT · by 2ndDivisionVet · 56 replies
    ABC News ^ | October 19, 2016 | Julia Jacobo
    Donald Trump called Hillary Clinton a "nasty woman" during the last presidential debate. The two presidential candidates were discussing their plans for when programs like social security and Medicare run out, with Clinton emphasizing, "We need to put more more money into the social security trust fund." "That's part of my commitment to raise taxes on the wealthy," Clinton said. "My social security payroll contribution will go up, as will Donald's, assuming he can't figure out how to get out of it." "Such a nasty woman," Trump uttered, interrupting Clinton as she repeated that it's necessary to "replenish the social...
  • Social Security checks get measly $3.92 bump in 2017

    10/19/2016 11:09:59 AM PDT · by MaxistheBest · 122 replies
    CNN.com ^ | 10/19/2016 | Chris Isidore
    The typical retiree's monthly Social Security check will get only $3.92 bigger next year. That amounts to an increase of just 0.3% -- the smallest ever put in place to help cover higher prices. That's still an improvement from this year, when the lack of inflation kept benefits from increasing at all. The average retiree's monthly benefit is currently $1,305.30. "Over the last five years, Social Security COLA's have remained small or nonexistent," said AARP. "Every cent can matter to beneficiaries and their families. After last year's zero COLA, this year's announcement doesn't offer much help to the millions of...
  • Illegals seeking asylum up 900%, get Social Security, welfare, school loans

    10/19/2016 9:50:12 AM PDT · by ColdOne · 22 replies
    washingtonexaminer.com ^ | 10/19/16 | Paul Bedard
    The number of illegals seeking asylum to gain easy access to the United States has jumped 900 percent in less than 10 years, greatly expanding the Immigration population receiving Social Security, school loans, green cards, welfare and other taxpayer funded services, according to figures from the U.S. Citizenship and Immigration Services. While about 8,000 mostly Latin Americans in 2009 sought asylum, the number is expected to reach 80,000 or more this year, according to a projection from the Center for Immigration Studies.
  • Can Someone Please Make the Candidates Talk About Social Security?

    10/07/2016 9:13:21 AM PDT · by Eric Pode of Croydon · 63 replies
    The Daily Beast ^ | 7 Oct 2016 | Bob Kerrey
    Few if any candidates for federal office will tell you that as a consequence of current federal law, young Americans are being screwed in two life-changing ways. First, under current law, every Social Security beneficiary under the age of 48 will have their promised benefits cut by a third. And second, every young person who works is contributing between $10,000 and $20,000 to the health care and retirement of those lucky Americans who are already drawing benefits under federal law. In some ways the second screwing is worse than the first. Young workers do not have the defined benefit retirement...
  • Small Social Security cost-of-living adjustment likely for 2017

    09/16/2016 11:34:17 AM PDT · by JoeProBono · 25 replies
    investmentnews ^ | Sep 12, 2016 | Mary Beth Franklin
    Although we are still a month away from an official announcement about the size of the annual cost-of-living adjustment (COLA) for Social Security benefits in 2017, the latest Social Security Trustees report projects a 0.2% increase in benefits next year. That would boost the average Social Security retirement benefit of $1,341 per month by about $2.70 and increase the maximum benefit of $2,663 per month in 2016 by about $5.30 next year. While that would be an improvement over this year when there was no inflation adjustment over 2015 benefit levels, a small COLA will do little to shield seniors'...
  • IRS doesn’t tell 1M taxpayers that illegals stole their Social Security numbers

    08/31/2016 2:24:27 AM PDT · by BradtotheBone · 16 replies
    The Washington Times ^ | August 31, 2016 | Stephen Dinan
    The IRS has discovered more than 1 million Americans whose Social Security numbers were stolen by illegal immigrants, but officials never bothered to tell the taxpayers themselves, the agency’s inspector general said in a withering new report released Tuesday. Investigators first alerted the IRS to the problem five years ago, but it’s still not fixed, the inspector general said, and a pilot program meant to test a solution was canceled — and fell woefully short anyway. As a result, most taxpayers don’t learn that their identities have been stolen and their Social Security files may be screwed up. “Taxpayers identified...
  • ‘I wasn’t crazy.’ A homeless woman’s long war to prove the feds owe her $100,000.

    08/22/2016 4:37:47 PM PDT · by Theoria · 38 replies
    The Washington Post ^ | 22 Aug 2016 | Petula Dvorak
    If you’ve spent any time in downtown D.C., you’ve likely seen 80-year-old Wanda Witter. Shock white hair, a determined, unsmiling set to her mouth, jeans. She may have asked you for some change and probably didn’t smile if you gave her some. This month you may have also been taken aback by the black eye and stitches across her face. For years, Witter bedded down for the night at 13th and G streets in Northwest Washington, on the cement in her blue sleeping bag, pulled up tight to keep the rats and cockroaches out. Her tower of three suitcases was...
  • Social Security rolls back two-factor mandate

    08/17/2016 5:07:47 AM PDT · by ken in texas · 21 replies
    FCW ^ | Aug 15, 2016 | Adam Mazmanian
    The Social Security Administration is relaxing a recent security directive requiring beneficiaries to use two-factor authentication to log into personal accounts after complaints that the new restrictions hindered user access. ...SSA has not come up with a new two-factor verification method. The agency is strongly recommending that users take advantage of the text-message security option, but beneficiaries are able once again to use a simple username and password to access their accounts....
  • Social Security Administration Now Requires Two-Factor Authentication

    08/04/2016 8:11:41 AM PDT · by snarkpup · 53 replies
    Krebs on Security ^ | 8/16/2016 | Brian Krebs
    The U.S. Social Security Administration announced last week that it will now require a cell phone number from all Americans who wish to manage their retirement benefits at ssa.gov. Unfortunately, the new security measure does little to prevent identity thieves from fraudulently creating online accounts to siphon benefits from Americans who haven’t yet created accounts for themselves. ... “People will not be able to access their personal my Social Security account if they do not have a cell phone or do not wish to provide the cell phone number,” the agency said. ... Also, as one reader already pointed out...
  • The CBO Looks Ahead to a U.S. Fiscal Disaster

    07/23/2016 5:59:34 AM PDT · by reaganaut1 · 100 replies
    Barron's ^ | July 23, 2016 | THOMAS G. DONLAN
    The American debt problem was almost entirely ignored at the Republican National Convention last week, and we can expect nothing more when the Democrats gather this week. Both parties support the entitlement spending system and the decrepit tax system that fails to support it. They compete on the fiscal side of politics with impossible promises to spend more and tax less. Imagine the U.S. Treasury as an airplane beginning to roll down the runway to take off. For a mile or so, the plane gains no altitude, then the wings start to generate lift. The wheels leave the ground and...
  • Do You Lock Your Doors At Night?

    07/19/2016 5:17:25 AM PDT · by Sean_Anthony · 26 replies
    Canada Free Press ^ | 07/19/16 | Leigh Bravo
    Do we really need that wall and do you still plan on locking your doors tonight? Do you lock your doors at night? If you answered yes to this question, then tell me why? Do you lock them in order to keep out those you don’t know or those who might intend you harm? Do you lock them so strangers cannot enter your house at anytime of day or night? Do locked doors give you a feeling of security? Do you feel locking your doors will keep you and your family safe? Donald Trump promised to build a wall to...
  • New report calls for ‘justice for millennials’

    07/18/2016 5:05:36 PM PDT · by BenLurkin · 45 replies
    cnbc.com ^ | 07/18/2016 | Luke Graham
    The report, "Stagnation Generation", calls for the social contract between young and old generations to be renewed, as millennials are at risk of becoming the first generation to earn less over their lifetime than earlier generations. According to the report, in the U.K. today's 27 year olds are earning the same amount as a 27 year old would have 25 years ago. "A typical millennial has actually earned Ł8,000 ($10,587) less during their twenties than those in the preceding generation – generation X," the report claims. ... Meanwhile, young people are failing to get onto the property ladder. The report...
  • All transactions to be conducted in the presence of a tax collector

    07/05/2016 4:30:48 PM PDT · by vannrox · 22 replies
    SovereignMan.com ^ | April 17, 2012 | simon black
    In the terminal collapse of the Roman Empire, there was perhaps no greater burden to the average citizen than the extreme taxes they were forced to pay. The tax ‘reforms’ of Emperor Diocletian in the 3rd century were so rigid and unwavering that many people were driven to starvation and bankruptcy. The state went so far as to chase around widows and children to collect taxes owed. By the 4th century, the Roman economy and tax structure were so dismal that many farmers abandoned their lands in order to receive public entitlements. At this point, the imperial government was spending...
  • Why Don't Politicians Tell the Truth About Social Security?

    07/06/2016 9:35:13 AM PDT · by Kaslin · 43 replies
    Townhall.com ^ | July 6, 2016 | Star Parker
    The boards of trustees of our Social Security and Medicare programs just issued their annual report, and we learn, once again, that both programs are fiscally insolvent. The trustees project there will be insufficient funds from the Social Security program to pay its obligations beginning in 2034, 18 years from now, and Medicare will fall short in 2028, 12 years from now. Given that both of these programs play outsized roles both in the federal budget -- combined they represent 41 percent of federal spending in 2015 -- and in the personal lives of just about every American citizen, you'd...
  • America’s Next President Must Fix Autopilot Entitlement Spending

    07/06/2016 11:38:05 AM PDT · by milton23 · 46 replies
    Daily Signal ^ | 7/6/2016 | Christian Chelak & Romina Boccia
    A recent report by the Committee for a Responsible Federal Budget raises concerns that proposals by this year’s presidential candidates would further increase the national debt. America’s major entitlement programs—Medicare, Medicaid, Obamacare, and Social Security—are driving the nation’s greatest fiscal challenge, and yet Americans have heard very little about how the candidates will address these programs. Autopilot entitlement spending on federal health care programs and Social Security, along with the net interest the nation must pay on the federal debt, are projected to consume all federal tax revenues by 2033.
  • Donald Trump Rolls Out Winning Platform: Cut Taxes, Save Social Security and Medicare

    06/19/2016 9:30:19 PM PDT · by detective · 84 replies
    Breitbart ^ | 19 Jun 2016 | Patrick Howley
    Republican candidate Donald Trump focused this weekend on his economic platform: Cut taxes and regulations across the board while also saving Social Security, Medicare, and other government safety-net programs. Trump’s platform is nearly invincible in the general election if he stresses it enough, polling shows. Trump’s plan will also have a transformational effect on how people view his party. But he still needs to make the accounting work to ensure that his Third Way platform is feasible.
  • Final Rules Disclosed for How Social Security Admin. Plans to Disarm Its Beneficiaries

    06/13/2016 5:11:36 PM PDT · by detective · 24 replies
    The New American ^ | 13 June 2016 | Bob Adelmann
    Final rules on how the Social Security Administration (SSA) plans to prohibit its beneficiaries from owning firearms were published in early May, but it took several weeks for observers parsing the 41-page document to realize its implications for the Second and Fifth Amendments. It was sold as impacting, on an annual basis, only about 75,000 beneficiaries receiving disability benefits, or 0.11 percent of the 65 million people already receiving checks from the system. This was to counteract the initial impression that the new rules would prohibit more than four million citizens from owning firearms because of mental health issues. As...
  • Obama proposes expanding Social Security benefits while the program careens toward insolvency

    06/02/2016 7:03:14 PM PDT · by MtnClimber · 24 replies
    American Thinker ^ | 2 Jun, 2016 | Rick Moran
    For more than 20 years, the Government Accountability Office has been warning that the varioius Social Security funds would go broke in a matter of decades unless something is done to shore up the program. Unfortunately, there are limited options when trying to address this crisis. You can employ a combination of raising the retirement age and/or increase the FICA tax. Other than that, you're rearranging chairs on the deck of the Titanic. But President Obama – who is fully aware of the threat of insolvency – is now proposing that Social Security benefits be increased and wants the "rich"...
  • President Obama Proposes Expanding Social Security Benefits

    06/01/2016 4:21:53 PM PDT · by 2ndDivisionVet · 36 replies
    Talking Points Memo's Livewire ^ | June 1, 2016 | Sara Jerde
    President Barack Obama on Wednesday called for an expansion of Social Security benefits, saying that the program was more necessary than ever to support an aging population. Speaking at a high school in Elkhart, Indiana, Obama noted there are some Americans who don't have retirement savings and those who might not be able to save money because they are unable to pay the bills. "We can't afford to weaken Social Security, we should be strengthening Social Security," Obama said. "And not only do we need to strengthen its long term health, it's time we finally made Social Security more generous...
  • Here's Why All Pension Funds Are Doomed, Doomed, Doomed

    05/30/2016 8:52:25 AM PDT · by Lorianne · 23 replies
    Of Two Minds ^ | 26 May 2016 | Charles Hugh Smith
    There are limits on what the Fed can do when this bubble bursts, as it inevitably will, as surely as night follows day. It's no secret that virtually every pension fund is dead man walking, doomed by central banks' imposition of low yields on safe investments, i.e. Zero Interest Rate Policy (ZIRP). Given that both The Economist and The Wall Street Journal have covered the impossibility of pension funds achieving their expected returns, this reality cannot be a surprise to anyone in a leadership role. [link]Many unhappy returns: Pension funds and endowments are too optimistic [link]Public Pension Funds Roll Back...
  • Obama Admin Works to Keep Guns From Many on Social Security Disability

    05/09/2016 8:08:09 AM PDT · by MarvinStinson · 25 replies
    freebeacon ^ | Stephen Gutowski
    The Social Security Administration has announced the details of a new rule that would bar many receiving federal disability payments from owning firearms. The proposed rule is part of President Obama’s push to tighten gun laws while bypassing Congress. News of the plan to add some Social Security recipients to the National Instant Criminal Background Check System, or NICS, was first uncovered by the Los Angeles Times last summer and has faced fierce opposition from gun rights groups ever since. President Obama announced in January that he was officially ordering the Social Security Administration to start the process for implementing...
  • CRuz and Obama just screwed millions of us out of Social Security (Vanity)

    05/03/2016 10:59:54 AM PDT · by AuntB · 99 replies
    FR, CNBC, Rollcall ^ | May 3, 2016 | AuntB Vanity
    TED CRUZ just screwed YOU out of your Social Security income...at least he did for me! I was getting widow benefits...but no more! Obama was happy to sign it! [snip]Politicians describe Social Security as "the third rail," meaning that enacting any benefit cuts will kill them politically. But this is precisely what they voted to do under the Bipartisan Budget Bill of 2015. Spouses as well as divorced spouses (who were married for 10 or more years) who reached 62 by Jan. 2 can still collect just their spousal or divorced spousal benefit between 66 and 70 and then take...
  • Social Security: Why Congress is messing with your benefits

    05/03/2016 7:55:49 AM PDT · by SeekAndFind · 69 replies
    CNBC ^ | 05/03/2016 | Lawrence Kotlikoff
    Politicians describe Social Security as "the third rail," meaning that enacting any benefit cuts will kill them politically. But this is precisely what they voted to do under the Bipartisan Budget Bill of 2015. The bill reduced the benefits of married couples and divorcees who were younger than 62 as of Jan. 2 by up to $60,000. Even $25,000 is a lot of money for most workers, given that the median household income is about $50,000. The new law prevents most people who reach age 66 from providing spousal benefits to their spouse or children while letting their own retirement...
  • Obama budgets $17,613 for every new illegal minor, more than Social Security retirees get

    05/02/2016 9:29:46 AM PDT · by blueyon · 38 replies
    WashingtonExaminer ^ | 5/02/16 | Paul Bedard
    President Obama has budgeted $17,613 for each of the estimated 75,000 Central American teens expected to illegally cross into the United States this year, $2,841 more than the average annual Social Security retirement benefit, according to a new report The total bill to taxpayers: $1.3 billion in benefits to "unaccompanied children," more than double what the federal government spent in 2010, according to an analysis of the administration's programs for illegal minors from the Center for Immigration Studies. The average Social Security retirement benefit is $14,772.
  • IRS changing policy on employment-related ID theft

    04/26/2016 3:21:25 PM PDT · by jazusamo · 27 replies
    The Hill ^ | April 26, 2016 | Naomi Jagoda
    The Internal Revenue Service will start notifying victims of employment-related identity theft in a shift of policy that comes after criticism from Congress. "We’re still working out the details of the policy change to advise people of possible misuse of their Social Security number, and we will have more details to share in the near future," the IRS said in a statement. During a Senate Finance Committee hearing earlier this month, Sen. Dan Coats (R-Ind.), expressed concerns about the fact that the IRS doesn't inform victims when illegal immigrants use their Social Security numbers to obtain employment and then file...
  • Simple Math Shows America Is Headed for an Economic Disaster

    04/18/2016 7:21:40 PM PDT · by george76 · 52 replies
    The Daily Reckoning ^ | March 30, 2016 | Jody Chudley
    Stan Druckenmiller ... when I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have seen ever in my career. The disaster that Druckenmiller sees coming for the United States is all about changing demographics and entitlement spending. They don’t add up to a sustainable situation. In 1940, entitlement payments, which include everything from disability payments to Social Security to Medicare, amounted to just over 20% of annual government spending in the United States. Today, entitlement spending has swelled to nearly 70% of the annual federal...
  • IRS Admits It Encourages Illegals To Steal Social Security Numbers For Taxes

    04/14/2016 5:45:08 PM PDT · by SeekAndFind · 30 replies
    Forbes ^ | 04/14/2016 | Robert W. Wood
    This isn’t exactly the kind of story the IRS wants buzzing around at tax time. The IRS and Justice Department normally want ‘scared straight’ stories just before Tax Day. Ideally, when an indictment or conviction for tax evasion hits the news, it makes you think twice. Somehow, you think just a bit more about all those deductions, or if you really reported all your income, before you sign your return under penalties of perjury. Instead, we have the top dog at the IRS, the IRS Commissioner himself, admitting that, well, there’s a problem with illegal immigrants and taxes. In fact,...
  • IRS chief: Agency encourages illegal immigrant theft of SSNs to file tax returns

    04/12/2016 2:26:34 PM PDT · by Hojczyk · 50 replies
    Washington Examiner ^ | April 12,2016 | By RUDY TAKALA
    The IRS is struggling to ensure that illegal immigrants are able to illegally use Social Security numbers for legitimate purposes, the agency's head told senators on Tuesday, without allowing the numbers to be used for "bad" reasons. IRS Commissioner John Koskinen made the statement in response to a question from Sen. Dan Coats, R-Ind., during a session of the Senate Finance Committee about why the IRS appears to be collaborating with taxpayers who file tax returns using fraudulent information. Coats said that his staff had discovered the practice after looking into agency procedures. "What we learned is that ... the...
  • Social Security still paying potentially bogus disability claims 3 years after fraud exposed

    04/11/2016 5:56:21 PM PDT · by jazusamo · 14 replies
    The Washington Times ^ | April 11, 2016 | Stephan Dinan
    Investigators identified nearly 2,000 cases of potentially phony disability claims stemming from a massive Social Security fraud scheme, but three years after the scam was first exposed, the government says it’s still struggling to stop the payments. Only slightly more than 300 cases have been disqualified, and Social Security is still “in the process of effectuating those terminations,” the agency told The Washington Times just days after the accused ringleader and two lead accomplices were indicted on federal fraud charges. Despite three investigations into suspicions of massive fraud, Social Security officials say they are assuming all of the applications are...
  • The Trump Plan: Big Tax Hikes or Big Deficits

    03/25/2016 6:23:49 AM PDT · by reaganaut1 · 29 replies
    National Review ^ | March 25, 2016 | James C. Capretta
    ... What Trump implicitly promises is a closing of the gap between federal revenue and spending without any pain for ordinary voters. He claims that better management, led by him, is all it will take. It is the worst kind of wishful thinking and deception. On entitlements, Trump is essentially in agreement with most Democrats. He says he won’t make any changes to Social Security or Medicare benefits. In previous years, he also said Medicaid shouldn’t be cut. He says he now favors converting Medicaid into a block grant to the states, although he has not promised that this switch...
  • Vote for Cruz, screw your parents

    03/21/2016 10:05:26 AM PDT · by Dana1960 · 29 replies
    Market Ticker ^ | 3/21/16 | Karl Denninger
    Let me remind you that Medicare and Medicaid are the entire problem space within our federal budget, and that same issue -- retiree health care costs -- are the entire issue with state and local budgets, along with private pensions. There is only one candidate from either major political party that has put forward any sort of cogent plan of any kind of deal with the Medicare and Medicaid mess -- along with the mess of health care in private industry. This, as I've written about pretty-much since The Market Ticker began publication, is the intermediate and longer-term issue that...
  • Social Security Administration Beneficiaries Top 60,000,000

    03/19/2016 6:14:19 AM PDT · by george76 · 62 replies
    CNS News ^ | March 18, 2016 | Terence P. Jeffrey
    The number of people receiving benefits from the Social Security Administration topped 60,000,000 for the first time at the beginning of 2016. ... The total number of beneficiaries includes retired workers and their dependents, survivors of deceased workers, and disabled workers and their dependents. ... In February, there were 151,074,000 people employed in either full or part-time jobs in the United States, according to the Bureau of Labor Statistics ... There were 123,206,000 people employed full-time in February, according to BLS’s seasonally adjusted numbers. That equals approximately 2.05 full-time workers per each beneficiary of the Social Security Administration. ... The...
  • Here’s why (and how) the government will ‘borrow’ your retirement savings

    02/27/2016 1:15:20 PM PST · by SkyPilot · 55 replies
    Sovereignman.com copied onto ZeroHedge ^ | February 15, 201616 copied by ZeroHedge on Feb 16 | Simon Black copied by Tyler Durden
    According to financial research firm ICI, total retirement assets in the Land of the Free now exceed $23 trillion. $7.3 trillion of that is held in Individual Retirement Accounts (IRAs). That’s an appetizing figure, especially for a government that just passed $19 trillion in debt and is in pressing need of new funding sources. Even when you account for all federal assets (like national parks and aircraft carriers), the government’s "net financial position" according to its own accounting is negative $17.7 trillion. And that number doesn’t include unfunded Social Security entitlements, which the government estimates is another $42 trillion. The...
  • Obama Admin Pushes to Disarm Seniors [semi-satire]

    02/16/2016 9:34:01 AM PST · by John Semmens · 4 replies
    Semi-News/Semi-Satire ^ | 14 Feb 2016 | John Semmens
    Utilizing his executive authority, President Obama has instructed the Social Security Administration to crack down on elderly firearms ownership. Acting Commissioner Carolyn Colvin explained that "this population cohort is marked by disproportionate incidences of subnormal intelligence, mental illness, incompetency, poor health, and disease. Are such people the kind we want to entrust with guns?" Colvin tried to characterize the move as "basically a humanitarian one. People prone to dementia because of age may harm themselves or others. Taking weapons out of their hands will spare the nation a lot of heartbreak." She also cited the success of a similar program...
  • Without Social Security numbers, illegal immigrants face eviction

    02/12/2016 6:11:42 AM PST · by 11th_VA · 29 replies
    Washington Post ^ | 10 Feb 2016 | By Antonio Olivo
    The owners of a Northern Virginia mobile-home park are trying to evict about 15 residents who don’t have Social Security numbers and are in the country illegally, an effort that attorneys for the families say violates federal and state fair housing laws... Waples is owned by a limited partnership headed by Albert J. Dwoskin, who did not return calls for comment. Dwoskin’s property management company — A.J. Dwoskin & Associates — said it insists on Social Security numbers from all new tenants as a way to conduct background checks on those residents... “Everyone has to have an ID, a Social...
  • Bernie Madoff and America's Selective Outrage

    02/11/2016 6:21:42 PM PST · by huckfillary · 5 replies
    Artful Dilettante ^ | February 11, 2016 | Artful Dilettante
    Like seven million other Americans last week, I watched Madoff, the ABC miniseries chronicling the life and financial crimes of the infamous Bernie Madoff. Madoff, chairman of Madoff Investment Securities from its start-up in 1960 until his arrest on December 11, 2008, operated the largest corporate Ponzi scheme and financial fraud in U.S. history. The film, which starred Richard Dreyfuss and Blythe Danner as Madoff and his wife Ruth, aired for four hours over two evenings. The film had the highest viewership of its time-slot, but earned only modest reviews. After the film, ABC aired Madoff: After the Fall, a...
  • Ted Cruz Wants To Raise Taxes On Your Grandma

    02/08/2016 7:00:17 PM PST · by kiryandil · 217 replies
    Fortune.com ^ | February 2, 2016 | Chris "The Thrill" Matthews
    **snip** ...Ted Cruz has endorsed policies that would fundamentally change who pays the federal government’s bills, and how.Expect the establishment wing of the Republican Party to increasingly draw attention to this fact, especially when it comes to his tax policy. While on the one hand Cruz’s plan hews to Republican orthodoxy in its large tax cuts for the wealthy, he also embraces a European-style Value Added Tax, which is a lot like a sales tax, as replacement for all payroll taxes, and which would enable the elimination of all income tax outside a 10% flat tax for all earners...**snip** ...The...
  • Sowell: Toxic Words

    02/08/2016 11:51:00 AM PST · by jazusamo · 21 replies
    Creators Syndicate ^ | February 9, 2016 | Thomas Sowell
    During this election year, we are destined to hear many words that are toxic in the way they misrepresent reality and substitute fantasies that can win votes. One of these words is "entitlement." To hear some politicians tell it, we are all entitled to all sorts of things, ranging from "affordable housing" to "a living wage." But the reality is that the human race is not entitled to anything, not even the food we need to stay alive. If we don't produce food, we are just going to starve. If we don't build housing, then we are not going to...