Though Rubio is a ass for stirring the pot before the reconciliation vote, he is correct SS does need structural changes for it be solvent for the future...
SS is one of the most abused benefit program we have. Millions Of people got on the program when their unemployment bennies ran out under Obama and sill on it with no provision to time out.
Millions of children are on SS for bogus medical reasons.
100 of Thousands of children living in other countries born in the US from illegal aliens are receiving benefits
At some point SS needs to be means tested. A person with millions in assets probably doesn’t need SS...
Adjusting the age brackets to qualify would help.
He is my senator and rue the times I voted for him...
I thought he was a bigger man than joining the Johm McCain hate Trump bandwagon..
I completely disagree. SS should stay universal, just like it is now.
As far as means testing goes, as a retired person, I planned for 30 years based on current SS rules. And, that is about the amount of time a working man needs to plan and save for a decent retirement. If I had even had an inkling that SS would be more means tested than it already is, I would have saved more, but there is a great unfairness in changing the rules after I have retired and started collecting, and can no longer save.
One of the big points the means testing people miss is that SS is already means tested. Big time means testing.
When my grandfather drew SS, 60 years ago, his benefit was not taxed. Today 85% of my benefit is taxed at ~35% federal, and 10% state. If that is not a "means test", just what is it? The government claws back a huge chunk of my benefit.
And the government isn't satisfied with that. I just got my award letter for 2018. 21% of my benefit is deducted before I even see it for medicare. I have no choice in this, and I can't drop out of medicare if I want to. This is based on my reported AGI for 2016. Sure smells like another means test to me. And, in a few years they are going to teach me how to say "death panel" -- just another little present from our beneficent government.
So, they already take back over 60% of my SS benefit. Go ahead, tell me all about needing a new "means test" for SS. There isn't a whole lot of blood left in that turnip.
That very same award letter told my my benefit would increase by 2% in 2018 due to inflation, but when I compare the letter to the 2017 situation, the medicare deduction has been raise to the point where I get 4% less than 2017.
“”SS is one of the most abused benefit program we have. Millions Of people got on the program when their unemployment bennies ran out under Obama””
How in the devil would anyone whose unemployment ran out be eligible for social security? That doesn’t even make sense. They were either eligible for it before or they weren’t.
I think that there is a lot of waste and too many layers in these programs.
I think that POTUS will be looking to increase the efficiency & offload to private enterprise to get the benefits of competition. These are big targets because they constition a gigantic % of Federal spending. Considering SS, Medicaid, Medicare, a few lower %points total cost will be huge.
In the case of Medicare/Medicaid POTUS is talking about letting the States do more innovations & direct control which will cut costs and improve service. That could easily lower the cost of improved services 15% IMO.
The people with millions will find ways to hide/shield those assets if necessary. Eventually raising the age is probably a good idea. I’d raise the age a month every year for the next 26 years.