Posted on 04/14/2015 10:23:49 AM PDT by reaganaut1
MANCHESTER, N.H. (AP) -- Framing himself as a politician who's unafraid to share "hard truths" with the American people, New Jersey Gov. Chris Christie is proposing an income cap on Social Security benefits as part of major restructuring plan announced ahead of a likely presidential bid.
The Republican is set to deliver a speech Tuesday in New Hampshire outlining his ideas on reforming Social Security, Medicare and Medicaid — so-called entitlement programs.
As part of the plan, he'll propose phasing out Social Security payments for those making more than $80,000 in other income and eliminating them for those making $200,000 or more a year.
"I'm suggesting that Americans pay into this system throughout the course of their life knowing that it will be there if they need it to support them. So that seniors will not grow old in back-breaking poverty. But if you are fortunate enough not to need it, you will have paid into a system that will continue to help Americans who need it most," he says, according to an excerpt released by his political action committee, Leadership Matters for America. "That is what we have always done for each other through private charity and good government."
Christie will also propose raising the retirement ages for Social Security and Medicare eligibility and eliminating the payroll tax for seniors who stay in the workforce past age 62.
(Excerpt) Read more at finance.yahoo.com ...
““From each according to his ability, to each according to his need.” - Karl Marx Christie”
Good shot, peyton
Christie, keep your sweaty, fat fingers off of OUR money!
They could buy me out right now for what I paid in plus accrued interest.
Heck, seeing article like this, I might even be willing to forgo the interest - just to be sure and get my money back.
Ohm and I want the 6.5% that my employers paid into my account as well.
Wrong.
.
We always knew Christie was a marxist thief; this is simply his confession.
.
They'll go with inflation, because it's a great big mystery. What causes inflation? Oil sheiks? Greedy businessmen? Global warming? The cold winter? Bigfoot? Who knows?
But that's exactly how most government programs work. I've paid income taxes my whole life. The government doesn't pay me any of that money back.
The problem is people think SS is some kind of 401K. It's not. You've been paying SS taxes to fund other people's retirement just like you pay income taxes to fund welfare or crop subsidies or defense. It stopped being your money when the government took it out of your check.
Social Security benefits are indexed to inflation, so inflating them away is not feasible unless you greatly “adjust” the way inflation is computed.
Nothing new here as Jack Anderson, formerly of the Washington Post, proposed this in print back in the late 1980’s when I was in the DC area. So let’s see, a problem has persisted for over 30 years and our politicians have yet to act on it. Seems the only time politicians react quickly is when they’re trying to hide something from the general public and it must be passed before you can see what’s in it.
You’re right, Social Security is pure marxist theft.
That seems wrong to me as well. It smacks of just another form of class warfare.
Beyond that, the U.S. spends SO much money on useless and/or very questionable projects, it would be smarter to address that before turning our back on the seniors.
Governor Christie is right to address the issue, but wrong on his solution.
Why doesn’t crispy cream announce plans for a major restructuring of welfare?
“They could buy me out right now for what I paid in plus accrued interest.”
Unfortunately at my age, that isn’t an option. But I would have, given the opportunity, taken myself out of SS when I started working because I’d be much better off financially if I had invested that money myself. Stripped bare, Social Security has always been a financial fraud. And with the added burden of “benefits” imposed on it by Congress, it’s even worse.
This guy needs an a$$ whipping.The fat SON of a Bitch has let donuts dull his brain waves.
if that be the case how about phasing out SS payments ones you hit the $80K in annual earned income??
Bastard thieves!!
If the 15% contributions my employers and I made to this boondoggle over the years had been applied to a mutual fund or some other responsibly managed market instrument, I’d be a multi-millionaire today!!!
I *HAVE* to work, even though I’m retirement age, because I still have kids at home and have college to pay for.
So Christie can shove his SS plan up the same, dark, damp, smelly 0bama where he can put his gun control schemes.
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