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Valued Social Butterfly
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Re: Changes Coming To Medicare?

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Message 1 of 41

Since at least my grandfather's day, the R-party has been the party of the rich. Nothing proves it like this tax bill; of the rich, by the rich, and for the rich. 

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Re: Changes Coming To Medicare?

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Like the Friday night bribe to Corker and taxpqyer dollars to the Grifter n Chief?

 

The Corker provision, which was not part of either the House or Senate tax bills, would allow the owners of large real estate holdings through LLCs to deduct a percentage of their “pass through” income from their taxes.

Pass-through businesses are companies organized as sole proprietorships, partnerships, LLCs, or S corporations that don’t pay the corporate income tax and instead are taxed at individual rates. The combined House-Senate bill allows people to deduct 20 percent of pass-through income from their taxes. 

According to the IBT report, the omnibus bill also adds in a special tax cut to LLCs with few employees and large amounts of depreciable property assets — namely, real estate, rent-generating apartments, and office buildings. Just like the kind multimillionaire Trump and a number of multimillionaire GOP lawmakers own.

While decreasing the amount of state and local taxes regular, every day real estate investors(home owners) can deduct.

And Ryan said he plans to 'tackle' (gut) MCR and SS next year, 

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Re: Changes Coming To Medicare?

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Message 3 of 41

.

Paul “Ryan said that he believes he has begun convincing President Trump in their private conversations about the need to rein in Medicare, the federal health program that primarily insures the elderly.” … 12/6/2017

 

“Our policy would begin in fiscal year 2020. It would combine Medicare Parts A and B and would have a unified deductible. For example, rather than require the $1,288 deductible for a hospital stay and a separate $166 deductible for a physician visit, the beneficiary would be charged a combined deductible.” (2016 dollars from Ryan’s Better Way Plan)

 

If deductibles are combined as the Paul Ryan/GOP plan requires, in 2018 dollars that would mean a Medicare recipient would have to pay the first $1523 before Medicare starts paying.

 

Part B deductible plus part A deductible … $183 + $1340 = $1523

 

If you’re a senior on a fixed income combining those deductibles before Medicare begins to pay anything is shattering for your healthcare budget.

 

And for seniors who only visit the doctor a couple of times a year, Medicare will never have to pay out anything it’ll all come out of a seniors own pocket.

 

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Re: Changes Coming To Medicare?

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Message 4 of 41

@rj72135989

 

I think you might want to read something more up-to-date on what the final legislation looks like after it went through the conference committee and deals released last Friday 12/15/2017.

 

The $250. deduction school teachers can take for the supplies - wast left in.

And the pass-through tax reduction was modified.

 

 

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MY SIGNATURE: "It’s Always something" - Roseanne Rosannadanna
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Re: Changes Coming To Medicare?

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"The bill is the product of a series of deals, conceived in secret, but executed in public w/ a brazen effrontery w/o parallel in the Senate" Words from 1930 of a now-hero GOPr on Smoot-Hawley, the economic lunacy that fueled the depression." Sound familiar Sen Corker and Cornyn?

 

Last minute secret additions include an amendment that will provide a special tax deduction on income made from so-called “pass through” entities, like real estate LLCs. The specific language would provide the lucrative tax deduction for such entities, even when they employ few or no employees -- a structure that tax experts say is designed to give a tax break to real estate moguls.(Trump and Corker)

 

Cornyn’s amendment was introduced just hours before the Senate passed the tax bill on Dec. 2, provides tax deduction for investors in energy-related master limited partnerships (MLPs) Federal lawmakers collectively own between $4.6 and $10.6 million worth of energy-related MLPs. Cornyn's fly-by-night aaendment specifically enriches him , Ted Cruise and two of the top Texas Republicans in the House.

 

And they eliminated the $250. deduction school teachers can take for the supplies they buy for needy kids.

 

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Re: Changes Coming To Medicare?

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Message 6 of 41

@KrisBKringle wrote:

Simply eliminate the social security tax cap on wages, or any other earned income (for those people that are able to hide wage income). People will complain for a minute. However, the percentage for employee and employer contributions to social security wage tax would be able to be substantiably reduced, and there still would be tons of money to cover beneficiaries forever. The Congress is afraid - as this initially would look like a "tax increase". Let impartial accountants run the numbers to find the sweet spot to reduce the current wage tax rates, once this was implimented.

 

Remember Social Security is NOT an entitlement. People pay into it like and insurance product, expecting return on their investment. (And again as I wrote - Paul Ryan and his family benefited from Social Security when his Dad died. As I said before that is OK. That is what it is for. Why does he want to hurt people who need it, like he needed it? Why can't he and the others in congress have the guts to improve it not destroy it? Is it because the lobbyist who sell annuities want it privatized?)


The SS earnings cap goes up every year when there is a COLA increase.

Raising the cap in some more rapid manner does very little IF benefits are also raised, which is the way the program works now.

 

Raising the cap but limiting the benefit will turn the program into just a welfare program.  Talk about changing the program - that is certainly not what it was designed to be although it does prevent people from falling too far into poverty especially if they have considered it, as they should, one part of the retirement wheel. 

 

I'd be interested in knowing how you come up with your facts when you say this:

"However, the percentage for employee and employer contributions to social security wage tax would be able to be substantiably reduced, and there still would be tons of money to cover beneficiaries forever."

That is definitely not what the analysis shows by many actuarials -

 

Read some of the proposals put forth and the CBO's analysis of them - again, if benefits are raised as a result of higher contributions by raising the cap (2018 SS earnings cap $ 128,400), this concept does little - it only does a good bit IF the cap is raised with NO benefit modification.

 

Social Security - Actuarial Data - Proposals Affecting Trust Fund Solvency

 

CBO: What Are Some Options for Changing Social Security?

In a 2015 report, CBO considered 36 policy options that are among those commonly proposed by policymakers and analysts, divided into five groups according to the elements of the Social Security program that they would modify:

  • The taxation of earnings,
  • The benefit formula,
  • The full retirement age,
  • Cost-of-living adjustments, and
  • Benefits for specific groups.

 

. . . . By itself, no individual option that CBO examined would create long-term stability for the Social Security program (see the figure below). Some options would affect all workers or beneficiaries similarly; others would have widely disparate effects, depending on a beneficiary’s year of birth or lifetime earnings. The effects of many of the options could be changed if they were implemented at a larger or smaller scale or phased in more slowly or quickly, although the resulting effects would not necessarily be proportional to the results presented in the report. If the goal was to address Social Security’s long-term imbalance, it would be necessary to combine several of the options that CBO analyzed. However, the effects of several policy changes implemented together are not always equal to the sum of the individual effects of those policy changes.

 

Think you should look up the definition of the word "entitlement" - as I hope you know a word has several meanings - In government speak, it only means that a benefit has been defined by law.

 
Definition of entitlement
1 a : the state or condition of being entitled : right
b : a right to benefits specified especially by law or contract
2 : a government program providing benefits to members of a specified group; also : funds supporting or distributed by such a program
3 : belief that one is deserving of or entitled to certain privileges
 
There are only (2) ways to fix Social Security and for that matter, Medicare too.
1.  Increase the revenues
2.  Reduce the cost
Most likely some combination of the two will have to be used to fix both of them for the long-term.
 
 
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Re: Changes Coming To Medicare?

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Message 7 of 41

Simply eliminate the social security tax cap on wages, or any other earned income (for those people that are able to hide wage income). People will complain for a minute. However, the percentage for employee and employer contributions to social security wage tax would be able to be substantiably reduced, and there still would be tons of money to cover beneficiaries forever. The Congress is afraid - as this initially would look like a "tax increase". Let impartial accountants run the numbers to find the sweet spot to reduce the current wage tax rates, once this was implimented.

 

Remember Social Security is NOT an entitlement. People pay into it like and insurance product, expecting return on their investment. (And again as I wrote - Paul Ryan and his family benefited from Social Security when his Dad died. As I said before that is OK. That is what it is for. Why does he want to hurt people who need it, like he needed it? Why can't he and the others in congress have the guts to improve it not destroy it? Is it because the lobbyist who sell annuities want it privatized?)

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Re: Changes Coming To Medicare?

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Message 8 of 41

Just askin', ReTiReD51 

 

What do you think should be done to fix Medicare for the long term - all its parts but specifically Part A which is in the worse shape financially because on the others, Part B and Part D, an increase in premiums based on the cost of the programs can always be done.

 

Medicare Part A has an insolvency date of 2029 according to the 2017 Trustee Report.  It has always been a pay as you go program, meaning the payroll taxes of current workers pay the benefit cost of those who are using Medicare Part A.

 

We have fewer workers today paying payroll taxes to support the program for several reasons - population numbers between the generations, automation, jobs going elsewhere in the world, to name a few.

 

We do have to do something - 

Reducing cost which should be done, but how?

Increasing the Medicare age of eligibility to correspond more to FRA of SS?

Increasing the payroll taxes for Medicare Part A for current and future earners?

 

People reaching 65 have continued to enrollee in Medicare Advantage plans at good pace - I believe it is over 30% of all Medicare beneficiaries who are getting their benefits via this route rather than original Medicare.  

 

 i would be interest in your ideas or those of anybody else joining into this discussion.  To Me, no doubt changes are coming to Medicare if we want the system to continue into the future.

 

As always there are only certain directions that change can go -

Increase Revenues - Reduce Cost

 

 

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MY SIGNATURE: "It’s Always something" - Roseanne Rosannadanna
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Re: Changes Coming To Medicare?

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Message 9 of 41

“Remember the story of the Democratic and Republican parties having a convention at your hotel.”

 

Do you remember the story of how the republicans have always promised to privatize Social security and gut Medicare first chance they get? Well they got that chance now with a republican controlled House, a Republican controlled Senate and the Donald. And come to find out it’s not a story it’s a fact.

 

Here it is in black and white the GOP plan for Medicare:

https://abetterway.speaker.gov/_assets/pdf/ABetterWay-HealthCare-PolicyPaper.pdf

 

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Re: Changes Coming To Medicare?

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Message 10 of 41

Remember the story of the Democratic and Republican parties having a convention at your hotel.  The Democrats steal the silverware and the Republicans steal the hotel.

 

Any yet people vote against their interests continually and habitually.  We could also talk about Gerrymandering, the voter suppression laws, the "Commission" started by Trump to investigate the "millions of illegal votes" during the 2016 election.  Of course that Commission is headed by an expert vote suppressor (see the papers peeking out from a folder he was carrying when he was photographed with Comrade Trump).

 

This is not a joke, and it will not end pretty. VOTE EACH AND EVERY ELECTION!!!

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