Articles
- Social Security and Medicare Blamed for Rising Deficits Are Cuts The Only Way to Reduce the Deficit? After passing new tax legislation that’s projected to increase the federal deficit by more than $1.5 trillion over the next ten years, Senate Majority leader Mitch McConnell (KY) recently blamed Social Security, Medicare and Medicaid for the rapidly increasing deficit. McConnell said the only way to ...
- What the Social Security Trust Fund is Missing From Top Paid CEOs In the debate over Social Security’s long-term finances, some argue that the program is unsustainable because it is paying out more in benefits than it takes in. They say that benefits, including cost-of-living adjustments (COLAs), should be reduced to bring the program back into balance. Others say that the program is unsustainable because revenues need ...
- Benefit Bulletin: September 2018 Waiting Periods Can Bankrupt Disabled Beneficiaries More than 920,000 Americans await hearings that will determine their eligibility for Social Security disability insurance benefits (SSDI). The process is a long one, taking on average about 20 months — longer than some applicants may live. Unlike Supplemental Security Income (SSI), which is a low-income disability program, SSDI is ...
- More Than 70% Of Retirees Didn’t Know What To Expect In Lifetime Social Security Income When They Claimed Benefits By Mary Johnson, editor It’s hard to plan your optimal retirement age without a realistic idea of what to expect in lifetime Social Security income. Yet, according TSCL’s 2017 Senior Survey, 71% of survey participants said that’s exactly the situation they were in when they filed a claim for Social Security benefits. They did not know, ...
- 18% Of Workers Pay No Social Security Taxes On Earnings Over $128,400 Most working people pay Social Security taxes on every dollar earned and many pay more in Social Security taxes than in federal income taxes. Yet nearly one out of five workers — some 18% — pay no Social Security taxes on any earnings over the Social Security taxable maximum — which is $128,400 in 2018. According ...
- Cuts To Social Security, Medicare, and Medicaid Not Supported By Older Voters (Washington, DC) – A survey of older voters indicates that Congressional plans to cut Social Security, Medicare and Medicaid in order to shrink the deficit would be politically explosive in an election year, warns The Senior Citizens League (TSCL). “Tax reform legislation would swell the deficit dramatically, making it more difficult to fund essential Social ...
- The Tax Reform That The Public Supports And Boosts Social Security By Mary Johnson, editor Over the next decade, the amount of payroll taxes flowing into Social Security is expected to drop, but not for the reason that most people think — because Baby Boomers are retiring. To the contrary, according to the Congressional Budget Office (CBO), the loss in payroll taxes from the retirement of Baby Boomers ...
- House Budget Resolution Takes Aim At Social Security & Medicare Mary Johnson, Editor President Trump’s campaign promise not to touch Social Security or Medicare may be on its way to the dumpster. The President’s own party has released a House budget resolution containing a buried controversial provision that would all but force lawmakers and President Trump to take up Social Security reform some time within the next ...
- Social Security Reform “Trigger” Buried in GOP Budget Resolution Says The Senior Citizens League (Washington, DC) – The House fiscal year 2018 budget resolution includes instructions for creating an unusual Social Security “reform trigger” and sets up an expedited path for ensuing legislation, says The Senior Citizens League (TSCL). “The budget resolution instructions are written in such a way that lawmakers and President Trump would almost certainly be required ...
- Trump Budget Proposes $64 Billion In Social Security Disability Cuts By Mary Johnson, editor President Trump’s budget includes $64 billion in cuts from the Social Security Disability Insurance (SSDI) program over the next 10 years despite the President’s repeated campaign promises that he would not touch Social Security benefits. Trump’s budget Director Mick Mulvaney justified the cuts, arguing that SSDI was not technically part of “mainline” ...
Print
Close