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Re: Share your fears about Social Security

3,573 Views
Message 51 of 314

I heard some money saving loopholes will be closed at the end of this April in social securiy that could get seniors more money and benefits.I wonder if this is true and if I'm eligible.

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Valued Social Butterfly

Re: Share your concerns about Social Security

3,569 Views
Message 52 of 314

Are you under age 60? 

 

If you are age 60 or older,  you can re-marry,  and not lose your survivor's benefits from your deceased spouse.

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Info Seeker

Re: Share your concerns about Social Security

3,607 Views
Message 53 of 314
If I get married would I loose my survival benefits
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Re: Share your fears about Social Security

3,575 Views
Message 54 of 314

It really irritates me when I hear these idiots in Congress say " raise social security taxes." That is the WRONG ANSWER. The CORRECT answer is "REMOVE THE CAP ON THE WAGES!!!"

   For instance, Michael Bloomberg made approximately $4 billion in each of these years: 2009, 2010, 2011, and 2012. But guess what, he only paid approximately $8400.00 in social security taxes each of these four years, due to the wage cap of approximately $123,000.00. This info on Bloomberg came from Forbes magazine in 2013. Now, if the wage cap was removed, he would have paid $286 million(7% of his income) per year into the Social Security Fund, leaving him $372 billion each of these four years. The Social Security percentage that Bloomberg paid on his yearly income was approximately 0.00021%.

   If the wage cap was removed, I don't think Social Security would ever go broke!!! Remember, President Linden Baines Johnson took all of the Social Security money out of its separate fund in 1964 and put it into the General Fund. That is another reason why Social Security is in dire straits.

  I urge all voters to write and/or call your Senators and Representatives to remove the Social Security cap on wages, NOT raise Social Security taxes. Also remember that Congress does not pay into Social Security. Also remember that when Senators and Representatives retire, they still get their salary of approximately $173,000.00 per year!!

   Maybe some economist could calculate how much money would go into the Social Security fund if the wage cap was removed on a yearly basis, based on all current wages. ALL Social Security money should be put back into its own separate fund, so it is not accessible to Congress!!!

 

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Trusted Social Butterfly

Re: Share your concerns about Social Security

3,420 Views
Message 55 of 314

Reply to: wl8409

A person should know if the amount of social security withheld from their pay had tax payed on it or not.

Around my third year with the Fire Department I know there was a change in the laws and our SS, Retirement and Insurance was deducted before taxes were figured on the rest of our income.

 

Posted by,
cat0w
Texas (USA)

 

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Info Seeker

Re: Share your concerns about Social Security

3,412 Views
Message 56 of 314

What is the status of the repeal of the WEP and the GPO?  Both are unfair to public servants who have a pension and thus can not collect the full amount of SS they deserve...Is AARP working to address this issue.  If not, they should.  

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Re: Share your fears about Social Security

3,355 Views
Message 57 of 314
I am very concerned about what they based the no COLA raise on. From everything I have read & heard it's based on inflation (of gas). Well, gas may be down, everything else is up. Prices go up in the grocery stores from week to week! I'm barely hanging on.
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Re: Share your concerns about Social Security

3,417 Views
Message 58 of 314
Why is SS benefits taxed if your other pension income exceeds $50,000? The contributions to SS while u worked was taxed already, right? I'm sure matching contributions by your employer were taxed also. But if not, I should not pay more than 50% on my benefits. Sounds like double taxation to me.
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Valued Social Butterfly

Re: Share your fears about Social Security

3,409 Views
Message 59 of 314

mh53321653 wrote:

What concerns me the most is the recent 57% !!! Rate increase in the monthly premium! I am astounded that this is even legal? I understand that increases are a fact of live, however, this level ofn crease is outrageous for seniors to absorb, especially since there was no increase for the cost of living index!  Is AARP tackling this issue?


  This increase in Part B premiums was only for newly eligibles to Medicare.  IOW, those that are not covered by the hold harmless clause in Social Security. 

 

The increase to the newly eligibles was toned down some by the Budget deal in 12/2015; course we will all have to make it up whenever we do get another COLA.

 

You do understand how these Medicare Part B premiums are set, don't you?  They are set by what the actual cost to the program turns out to be.  The government covers about 75% of Part B cost and this comes out of General Revenues.  Part B premiums makes up the other 25%.

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Valued Social Butterfly

Re: Share your fears about Social Security

3,386 Views
Message 60 of 314

Baren wrote:

My wife had ssi due to her disabilities but they kicked her out at 62 because I was retired and was recieving too much money from disability ss.

Living in Texas we are denied medicade due to our republican governor won't expand it . She found help with a county hospital district . It isn't insurance but a pay program that goes by income .We qualified but since I am 65 I chose to use outside doctors with my medicare program.

    My wife worked all of her life and paid taxes and this is how our government treats her when she needs help . Something has to give in the future or older Americans will do without proper care and die early .


  If your wife worked all of her life and paid taxes, I am assuming that this was for earned income, then she should be able to qualify for her own Medicare benefit at 65 and her own Social Security Benefit (early retirement age is still 62; Full Retirement Age is now 66 + some months).

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