Skip to comments.Ryan Pushing Means Testing for SS Benefits?
Posted on 10/09/2013 10:15:32 AM PDT by originalbuckeye
I just heard my Conservative radio hosts discussing what is being put on the table by the Republicans in the House. They said Ryan is pushing means testing for SS benefits.
With interest and adjusted for Fed inflation.
I don’t like this but this is bound to happen for more and more gov programs.
A cosmetic bandaid. Nothing more.
It has to happen. The country is functionally broke.
That my wealthy parents earn SS while my poor daughter pays in is totally stupid.
I know that I will be the guy who gets screwed in all of this.
But anyone who doesn’t think this will happen is smokin’ some really fine weed.
I'd just be glad to get back what they took at this point.
They sure don’t use means testing when applying the taxes to our paychecks. If this story is true, it sounds like they’re getting it backwards again—are they going to penalize people who have actually saved for their retirements and reward people who haven’t?
Never happen. USA has gone entitlement crazy like zombies is World War Z.
Means test Congressional perks and retirements first.
>> So, if my husband and I have been diligently saving and contributing to 401Ks for our retirement, we are going to be punished by fewer benefits??
Sends a message, doesn’t it?
It’s an evil government that incentivizes reckless behavior while punishing those who act with wisdom and foresight.
I don’t mind means testing for it if they allow me to opt out of it and not pay it.
It would even be worth discarding all the money I put into it for the last forty years.
Hell, I am never going to see a cent from Social Security anyway, so that is an easy promise for me to make.
Agreed, in spades. There are problems with the Social Security System, but it is NOT a welfare benefit for most of us. Most of us were forced to put more money into the system than we will ever get out again. I’m on Social Security, and I could have gotten maybe two or three times as much if I had been allowed to invest the same amount of money myself.
Punishing people who have contributed to Social Security all their lives makes about as much sense as Obamacare.
And the “wealthier” ones were the folks who paid the most into the system, while the poorer ones are the folks some of whom are getting more out than they put in.
Is this guy’s name Franklin Delano Ryan?
You realize of course, the money you put in is for people already retired. Your benefits will come from people who are working after you retire. GIANT PONZI SCHEME.
I know you already knew that. It doesn’t make it better.
Wonder if the “means” threshold will be based on individual income or household income?
Makes a big difference when there’s more than a couple years difference between the couple’s ages.
The big trade needs to be that I get screwed, but my daughter is off the hook, and we kill Social Security as it is.
We can replace it with a welfare program for the poverty stricken elderly.
But my daughter stops paying into SS forever.
Take it from Bammy’s sta$h.
It’s only fair!/s
Gotta agree with that. The money ain't there and it ain't going to be coming in. However, it would be a good idea to make everybody on disability get re-evaluated every 3 years or so - along with an audit/cross reference on their earnings while they were "disabled".
John Galt is not paying FICA taxes.
The day I turn 62 (if they don’t raise the age), I’ll start withdrawing.
Doing the dirty jobs democrats are too smart to do.
Oh, and there have been discussions that it is not fair that you even have a 401K, and that private retirement accounts s/b nationalized.
Sure they do - only the first $113K gets taxed.
The fact that SS retirement benefits can be subjected to income tax is ALREADY a form of “means” testing.
That is true, I think the timing is not good though.
He is a disappointment.
I think that Means testing should be defined as income that isn’t coming from investments/interest.
If they include investments/interest then those of us who HAVE diligently saved are screwed. I’ve paid in the full amount for Social Security taxes since I was in my 20s...30+ years ago. I am OWED this money back in some fashion!
If this story is true, it sounds like theyre getting it backwards againare they going to penalize people who have actually saved for their retirements and reward people who havent?
Social security is socialism
It should be eliminated. It is generational theft
The key is to save in a way that is below the radar. Unfortunately, that is stuff like money in mattresses.
But we’ll still be spending billions on the Afghanistan war. I don’t hear Republicans calling for any drawback in overseas military adventures — they only want to cut the benefits that taxpayers have paid for out of their paychecks their whole lives. Cut these benefits in order to keep our foreign wars going?
SS has been putting out more than it takes in, for many months now. It’s just a matter of time before Government comes up with a “compresensive overhall” and reduces benefits. As for 401K’s and IRA’s...Obama and his buddies have been eyeing that money for years. They have started the plan to get their hands on that money in earnest. Unions will lead the charge.
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“Disability” is the biggest scam around.
I’m supporting an ex who claims to be disabled because she can’t use her hands, except she can sew 2,000+ piece quilts.
John Galt is not paying FICA taxes.
Ryan is a phoney - a stupid, over-rated phoney.
SS Insurance is not an “entitlement”. The government grabbed whatever a person was forced to pay into it from their paychecks and its supposed to be a form a retiement insurance based on that thievery.
If SS is going bankrupt its because idiots like Ryan and most Democrats, have been dipping into it for other purposes for years. This is hardly a surprise as government can’t help spending money, even money that doesn’t belong to it.
The solution is to allow people going into the job market to elect whether or not they want to pay into SS, OR ANOTHER RETIRMENT INVESTMENT INSTRUMENT. AND to make sure that SS deductions are UNTOUCHABLE and CAN’T be used for other purposes. And then pay out what is owed to those who are retired on it currently.
If this damn fool succeeds with his “means test”, it will result in the Demcorats taking away from people who paid into SS and then turning that money over to people who didn’t.
Marl my words.
And Ryan prooved what an idiot he was in the last election. Anyone who can’t win a debate with crazy Joe Biden is an Idiot.
Once Social Security is phased out everyone will be forcibly thrown on Obamacare.
Everyone who is not a moocher or other democrat supporter will be required to purchase an ObamaCare Insurance plan until they day they die.
Germany is the only country I know of that has a real social insurance scheme, and it is very expensive because it accurately reflects the costs.
Want to change the system? Fine. Make everyone, not just those who earn less than $120,000 a year, pay 15%. See if that flies.
Unfortunately, there is case law ruling that you are not entitled to Social Security.
Our money has been spent, and they don’t owe us a dime...
“...........They said Ryan is pushing means testing for SS benefits............”
and not for welfare!?
WRONG TIMING RYAN. Shouldn’t EVEN be bringing up such a thing now.
Social Security is ALREADY “means tested” through a tax on SS benefits.
Medicare is ALREADY means tested, with higher part B and Part D premiums, for single taxpayers above $87K and married couples over $117K.
Obamacare taxes your investments 3.8%, you’ll notice it next April.
Even if contributions were untouched, they aren’t large enough to pay off the promised benefits.
I think we’re going to go into the financial pit of Argentina, default on our debt, have the government attempt to confiscate savings (401Ks, Bank Accounts), and a civil war in the streets.
But until then, I have a lovely woman to whom I go home every night.
I’ve fought for conservatism before, now, and will in the future.
But I have a good life while the country is heading directly into chaos.
Yes, because everyone who can find a green card or a leg injury can suck out SSI....again, wealth re-distribution and no adjustment to the age since 1934.
I have over $150K contributed already (I’m 44). It’s done.
If I know I’m not getting any, why pay into it?
Like hell you will!
How about means testing for the generous benefits that go to members of congress!!
You and I both know why we pay into it: because we’ll go to jail if we don’t.