Posted on 05/03/2016 7:55:49 AM PDT by SeekAndFind
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 benefit grow through age 70. The exceptions are those who filed for their retirement benefit, but suspended it sometime before April 29.
The new law also forces spouses who were not 62 before Jan. 2, 2016 to file for their retirement benefit when they file for their spousal benefit. Since Social Security won't pay two benefits at once, this means such spouses simply get the larger of the two benefits (i.e., they lose one of the two). 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 their own retirement benefit at 70.
The new law was passed in the dead of night and rushed to a vote with no public hearings let alone congressional debate — this despite the fact that millions of households, most of which are low-and middle-income, were having their retirement plans upended.
(Excerpt) Read more at cnbc.com ...
The government has become so disgusting that it about time for everyone to stop paying federal income taxes. We are at the last stage of an old shell game where government offers and entitlement that has actual benefits to get people on board and then when they have forced everyone on it they strip away the benefits to the taxpayer and leave the tax in place.
Once social security is worthless how much longer are the bulk of workers going to be to happy to hand over roughly 15% of their wages for nothing?
I’ve been planning on having nearly nothing if anything at all for SS when I finally get there. 25+ more years to go (depending what adjustments get made between now and then).
Bastards.
All of them!
This is a disaster......................
Yes, and if you were unable to work the last 10 years of it...what does that leave you??? NOT MUCH!
Allow me to opt out
Let me keep my social security deductions, and I will not ask Fed.gov for any retirement money.
Isn’t that a fair deal?
All that is true but doesn’t touch on why the program is going into shortage. Free riders aren’t the big problem.
It’s demographics and longer lives.
When the program began about 40 people were paying in for every person receiving payments. The people receiving payments only did so for a few years on average before passing away.
Now there are less than 3 payers for every person receiving benefits and people are living for decades after retiring.
The program doesn’t have a chance no matter the structure under these conditions.
Yep
Which is why “amnesty” is being pushed so hard, not only will it make for a permanent Dem party stranglehold in DC, it gives a fresh taxable influx into social security so politicians can spend all that money too.
It's time we stopped throwing trillions down sh*thole countries who hate us. No wonder we're 20 trillion in debt!
WHAT OTHER COUNTRY IS THIS STUPID?
DONALD IS RIGHT!!!
WE'RE BEING TAKEN- RIPPED OFF- AND AMERICANS ARE SUFFERING!!!
For instance the muslim handing over 150 trillion to Iran. For WHAT? So they they finish developing an atomic bomb and wipe us off the map?
This is why the government is 'messing' with SS. It's been looted to pay for THIS :
BILLIONS FOR JIHAD! Obamas 2009 Supplemental Appropriations for Iraq, Afghanistan, Pakistan, and Pandemic Flu was revised and passed by the full committee. It gives billions of U.S. taxpayer dollars to countries and entities that support Sharia law and/or harbor, hide and support those who want to destroy the U.S. and our allies. http://creepingsharia.wordpress.com/2009/05/1...
Read the summary from David Obeys office that was quietly released last week with nary a word from any media.
$3.6 BILLION matching the request, to expand and improve capabilities of the Afghan security forces
$400 MILLION, as requested, to build the counterinsurgency capabilities of the Pakistani security forces
AFGHANISTAN: $1.52 BILLION, $86 MILLION above the request WEST BANK AND GAZA: $665 MILLION in bilateral economic, humanitarian, and security assistance for the West Bank and Gaza
JORDAN: $250 million,$250 million above the request, including $100 million for economic and $150 million for security assistance
EGYPT $310 million above the request, including $50 million for economic assistance,$50 million for border security, and $260 million for security assistance
PAKISTAN,$591 million above the request
IRAQ:$968 MILLION,$336 million above the request
Oversight: $20 million,$13 million above the request, to expand oversight capacity of the State Department, USAID, and the Special Inspector General for Afghanistan to review programs in Afghanistan, Pakistan and Iraq
Lebanon:$74 million
International Food Assistance:$500 MILLION $ 200 million above the request, for PL 480 international food assistance to alleviate suffering during the global economic crisis
REFUGEE ASSISTANCE:$343 MILLION,$50 million above the request, including humanitarian assistance for Gaza.
Funding for the UN Relief and Works Agency programs in the West Bank and Gaza is limited to $119 million (Note: Gaza = Hamas)
Disaster Assistance: $200 MILLION to avert famines and provide life-saving assistance during natural disasters and for internally displaced people around the world, including Somalia, Zimbabwe, Ethiopia, the Middle East and South Asia
Department of Justice: $17 million, matching the request, for counter-terrorism activities and to provide training and assistance for the Iraqi criminal justice system
OBAMA GIVES YOUR TAX DOLLARS TO REBUILD MUSLIM MOSQUES AROUND THE WORLD! http://canadafreepress.com/index.php/article/... #
Obama Invites 80,000 Muslim Immigrants Into the United States – Promises 100,000/Per Year for Next 5 Years
And THAT'S the tip of the iceberg.
Donald is RIGHT!
AND DONALD IS THE ONLY WHO HAS HAD THE COURAGE TO BRING UP THIS ISSUE- AS WELL AS MEXICO USING THE U.S TO UNLOAD AND TAKE CARE OF ITS POOR AND UNDESIRABLES BY FLOODING THEM ACROSS THE BORDER AND BE PUT ON WELFARE FOR U.S. TAYPAYERS TO TAKE CARE OF VIA ITS GENEROUS WELFARE.
OBAMA HAS JUST ANNOUNCED THE CRIMINAL INVADERS (FUTURE RAT VOTERS) WILL BE GIVEN ALMOST $17,00- MORE THAN MOST OF OUR SENIORS EARN IN SS PAYMENTS IN A YEAR!
DONALD IS THE ONLY ONE WHO WILL PUT A STOP TO THIS INSANITY!
WE MUST PUT AMERICANS AND AMERICA FIRST!
Our seniors on SS are among the poorest of the poor (after helping to make America the great country it is- or was.) No cost of living raise in sight.
(and don't forget; the CubanCanadian lawyer wants to CUT our U.S. senior's Social Security!!! [GOOGLE IT])
Our bridges, airports, hiways-AMERICA ITSELF IS falling apart!
STOP THE HANDOUTS!!! DONALD IS THE ONLY ONE WHO HAS CALLED FOR THE REBUILDING OF OUR DEPLETED MILITARY AND TO TAKE CARE OF OR VETERANS!
PUT AMERICA AND AMERICA FIRST. STOP THE HANDOUTS. MAKE AMERICA GREAT-AND RESPECTED AGAIN!!!!
The 1.45% portion of the 7.65% now has no limit. You pay 1.45% on everything you make.
MORE money is allocated for each Syrian refugee than the average American citizen receives in Social Security after working their whole lives. And Social Security Disability? A program designed to help those truly disabled has morphed into "the new welfare without the pesky social workers". And yeah, THAT the group the corrupt people in congress worry about..
Notice how quickly Congress can move when they want to screw you.
Here is what the SS calculator gives me. I worked form 1964 to 2003. Some was part time due to a auto crash that disabled me, but I worked until I could no longer function, fool that I was!
https://www.ssa.gov/cgi-bin/benefit6.cgi
Assumed earnings from 1966 through 2005. Your estimated number of credits, 12, is insufficient to receive benefits at age 62.
So...all that work, 40 plus years raising my kids alone with not one cent of government money or help, no child support....I get NOTHING.....
BUT, if I were an elderly ILLEGAL ALIEN in California, I could get over a thousand $$ a month! (you can see that here.....http://towncriernews.blogspot.com/search?q=why+is+california+broke)
“MORE money is allocated for each Syrian refugee than the average American citizen receives in Social Security after working their whole lives. And Social Security Disability? A program designed to help those truly disabled has morphed into “the new welfare without the pesky social workers”. And yeah, THAT the group the corrupt people in congress worry about.. “
See post 33
Donald Trump can’t get here fast enough!!!
I wonder if Cruz voted for this mess???? I will find out.
It’s always been a wealth transfer Ponzi scheme.
Washington needs term limits, a prohibition on omnibus bills, and no pension for Congresspersons.
Plus no COLA.
5.56mm
No, they don't. I don't know who told you this, but they were wrong, or you misunderstood.
You must have worked for 40 quarters (not consecutively) in order to be eligible for your own Social Security benefits.
But, to calculate your benefits, Social Security first adjusts your wages subject to Social Security tax each year by the average wage index -- it's similar to the CPI, but not exactly the same factor. Then, they use the highest 35 years in your career. If you worked for less than 35 years, then zero is substituted for the remaining years.
Don't believe me? Here's a flyer from Social Security that explains it: https://www.ssa.gov/pubs/EN-05-10070.pdf
Or, you can use this on-line calculator: https://www.ssa.gov/planners/retire/AnypiaApplet.html
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