Skip to comments.Will there Be Social Security Left for You? Inequity in Entitlement Payouts
Posted on 11/04/2013 5:54:25 AM PST by William Tell 2
According to a recent report by the Congressional Budget Office (CBO), different generations have paid and will continue to pay disparate amounts of Medicare and Social Security payroll taxes, and they will also receive dissimilar amounts of Medicare and...
(Excerpt) Read more at mainstreet.com ...
Why have you excerpted your own blog?
Three dots after ‘and’ continuing a run-on sentence to a blog that’s truncated into endless pages? Cool story bro.
Freeloader you must not be getting hand outs today
Glad you liked it bro
Michael P. Tremoglie is a former Philadelphia Police Department police officer. Michael P. Tremoglie is currently a staff writer for The (Philadelphia) Evening Bulletin and a columnist for FrontPage Magazine. His work has regularly appeared in publications such as the Philadelphia Inquirer, Philadelphia Daily News, Human Events, Pittsburgh Tribune Review, the Lansdale Reporter, Delaware County Daily Times, and Insight magazine, among others. He has a BA in accounting and a Masters in Criminal Justice. He is the Author of A Sense of Duty.
And, all of that is supposed to justify a teaser from his own blog on a story he indicates is written by him?
Advise everyone do the same. He can't post it here? BS.
Apparently he is also a scumsucking blogpimp.
This is the classic blogpimp move. Normally I don’t care too much but this guy is being flagrant.
The current SS payroll tax is 3.6% (vice 3.5%) each for employee and employer.
The projected 75-year actuarial deficit for the combined Old-Age and Survivors Insurance and Disability Insurance (OASDI) Trust Funds is 2.72 percent of taxable payroll, up from 2.67 percent projected in last years report. This deficit amounts to 21 percent of program non-interest income or 17 percent of program cost. A 0.06 percentage point increase in the OASDI actuarial deficit would have been expected if nothing had changed other than the one-year extension of the valuation period to 2087. The effects of recently enacted legislation, updated demographic data, updated economic data and assumptions further worsened the actuarial deficit, but these effects were completely offset by the favorable effects of updated programmatic data and improved methodologies.
While the combined OASDI program fails the long-range test of close actuarial balance, it does satisfy the test for short-range (ten-year) financial adequacy. The Trustees project that the combined trust fund asset reserves at the beginning of each year will exceed that years projected cost through 2027.
Social Securitys Disability Insurance (DI) program satisfies neither the Trustees long-range test of close actuarial balance nor their short-range test of financial adequacy and faces the most immediate financing shortfall of any of the separate trust funds. DI Trust Fund reserves expressed as a percent of annual cost (the trust fund ratio) declined to 85 percent at the beginning of 2013, and the Trustees project trust fund depletion in 2016, the same year projected in the last Trustees Report. DI cost has exceeded non-interest income since 2005, and the trust fund ratio has declined since peaking in 2003. While legislation is needed to address all of Social Securitys financial imbalances, the need has become most urgent with respect to the programs DI component. Lawmakers need to act soon to avoid reduced payments to DI beneficiaries three years from now.
Canned Fancy Feast? Your grandparents are obviously too rich for Obama's America. I'm stockpiling Save brand cat food for my retirement.
Actually it is 15.3%, half for the employer and half for the employee up to the SS cap (around $110k) and then 2.9% (again split 50/50) above that for Medicare alone.
The person you quoted was talking about raising it 3.5-4% to a total of 18.8-19.3%. Yikes! Especially because I pay both halves directly.
Actually it is not. The 15.3% includes the HI contribution. The OASDI (SS and DI) is 12.4%--6.2% for employer and employee. The HI rate is 2.9%, 1.450 for employer and employee.
The 2013 earnings cap for OASDI is $113,700. The cap will be raised to $117,000 in 2014. There is no earnings cap for HI contributions and Obamacare adds a surcharge for those earning over $200,000 (single) or $250,000 for a couple.
That site too, has no "about us" link ... which made me suspicious.
First of all you do not know who I am. Second, it is not a blog. Third you guys are just freeloaders. Fourth you are worst than freeloaders because you think you can make the rules for something you do not own.
This is Robinson’s forum. You have no right telling anybody what to post, how to post it, when to post, or why to post it.
So keep complaining. You tell people more about yourselves than you probably would want them to know. LOL
Normally I wouldn’t get into this, but truly, answer the question:
Why do you not post the entire article? there are no restrictions to doing so.
Why have a barrier to the rest of your post?
Why do we need to go elsewhere to read it, when there is no need to excerpt?
Michael P. Tremoglie, blogpimp. Aspires to be a journalist but fails daily.
Second, it is not a blog.
Oh yes. It's a bloggy blog of blogtastic proportions.
Third you guys are just freeloaders.
Yes, we're freeloading on Free Republic trying to drive traffic to our blogs.
Oh, wait.. that's you.
Fourth you are worst than freeloaders because you think you can make the rules for something you do not own.
Please indicate where anyone made or cited a rule.
You have no right telling anybody what to post, how to post it, when to post, or why to post it.
You seem to have no problem complaining about my posts. Are you special?
So keep complaining.
I certainly shall. It's a comfort to know I have your blessing.
“Third you guys are just freeloaders”
Define “freeloaders”? I mean, is it like a blog pimp such as yourself using FR to drive traffic to his blog and not paying FR for the service? Do you mean that kind of freeloader?