Posted on 04/14/2015 10:23:49 AM PDT by reaganaut1
MANCHESTER, N.H. (AP) -- Framing himself as a politician who's unafraid to share "hard truths" with the American people, New Jersey Gov. Chris Christie is proposing an income cap on Social Security benefits as part of major restructuring plan announced ahead of a likely presidential bid.
The Republican is set to deliver a speech Tuesday in New Hampshire outlining his ideas on reforming Social Security, Medicare and Medicaid — so-called entitlement programs.
As part of the plan, he'll propose phasing out Social Security payments for those making more than $80,000 in other income and eliminating them for those making $200,000 or more a year.
"I'm suggesting that Americans pay into this system throughout the course of their life knowing that it will be there if they need it to support them. So that seniors will not grow old in back-breaking poverty. But if you are fortunate enough not to need it, you will have paid into a system that will continue to help Americans who need it most," he says, according to an excerpt released by his political action committee, Leadership Matters for America. "That is what we have always done for each other through private charity and good government."
Christie will also propose raising the retirement ages for Social Security and Medicare eligibility and eliminating the payroll tax for seniors who stay in the workforce past age 62.
(Excerpt) Read more at finance.yahoo.com ...
If you paid for it then there is no means test.
Christie is over. He is delusional and playing for the left.
If anything the government would KEEP the savings and spend it for their own self interests.
It always has been. Especially for working Blacks, who because of their relatively short life expectancy often do not even recoup what they paid in.
An excellent point.
And another reason why the Death Panels will be a big plus for the SocSec financial long term.
Exactly.
If I pay in to it, I have a right to get money out of it.
These criminal hacks have stolen SS blind...and now they want to “reform” it.
Other than un-elect all those responsible. It can be done.
The whole presentation is trying to hide the fact that Christie is proposing large scale, government sanctioned, robbery.
If I have no choice but to contribute and then lose everything because I was too successful - why work?
BTW - I will listen to the apologists the moment ALL Federal retirees, past, present, and future, agree to live on $ 100,000 annual retirement so they can “keep” their entire social security monthly, taxed, returns.
“But saying that someone who has paid into the system his whole life should get nothing because he has a lot of other income in retirement seems wrong to me.”
I would agree, if the money were still there. But those people ALSO VOTED, collectively to have the government spend loads of money while keeping tax rates down. In other words, the money was never put aside - IT WAS SPENT as fast as it came in.
So now it’s no longer getting THEIR money back, but instead it’s TAKING money from my kids and grandchildren. They ARE NOT entitled to that money any more than my neighbors are entitled to it. My kids did NOTHING WRONG and should have NO OBLIGATION to pay tribute to these people.
But I’ve had this debate before, and half of the people ON THIS SITE have no problem at all in having the government use the power of their guns to TAKE the money that voters demand, from my kids. One can only imagine the reception that Christie will get from the left.
So Christie won’t get anywhere with this...and my kids will have to live in a crap country because of it.
(and by the way, I still hate Christie and likely would not even vote for him if he is the nominee...but he is right here)
The way inflation is computed has already been adjusted, if not for that social security would have died long ago.
Remember Al Gore's lock box? The FICA money has been put into the general fund for years and the fund gets an IOU from the Feds, the fund does not exist except on paper.
The Government will do what ever it wants to do as we have learned over the last 6 years.
Not my fault the Congress spent it all already. Find another solution.
I suppose people that do desk work or similar non physical non demanding work might be able to work til age 70 but not those that actually get off their fannies and actually WORK.....
tax ALL the income of wealthy people with the 8% SS tax and a remarkable thing will happen....all the leftists will suddenly become fiscal conservatives...
the problem is WE HAVE BEEN FORCED TO PAY into it....
everytime they "fix" SS I get to pay more and work longer...
some of these govt workers triple dip and yet its the people relying on SS benefits for a guarantee income that need to be cut down to size.....
that is far more evil than even SS...
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