Christie to propose overhaul of Social Security benefits (means-testing)

Associated Press ^ | April 14, 2015 | Jill Colvin

[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.

[EQAndyBuzz]

I also don’t need an abortion. So why am I paying for it in Obamacare?

[Qwackertoo]

Wrong. Wrong to take our money and say sorry you can’t have any benefits that you paid into for 40+ years or however many because of your success.

He’ll never make it on the ticket anyways.

We don’t need no stinkin’ NJ Rino.

[Lou L]

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.

I don't disagree. There are intangible paybacks however; it's proper for tax money to be used for national defense and to raise money for armies and navies; there is a basic "infrastructure" of government...legal systems and courthouses, public records, etc. All of these things could be said to provide some benefit to you.

With SS though, employers and individuals have been paying 13% of their income to fund this "security" in our older age. The return was horrible, and you could make a long litany of of ways this could be better managed, but I realize that SS for others, as well as other government programs comes from the taxes we pay.

Means-testing to the point where we completely eliminate any payment seems grossly unfair. As I said before, my intended retirement savings represents a lot of sacrifice, doing without, and living a more modest lifestyle. I should get something for that, but according to the government, I will only be penalized.

[fruser1]

To me, the only reasonable way to handle it is to pick an end date where there are no “new customers” to SS. Everyone who’s paid in before that date, gets out based on what they put in.

However that math works out, is how it should be done. Eventually everyone receiving checks dies.

Ultimately, govt should get out of the charity business.

[Nervous Tick]

>> I’ve paid income taxes my whole life. The government doesn’t pay me any of that money back.

That’s a red herring. Income tax was set up AS A MEANS OF FUNDING GOVERNMENT OPERATIONS.

Not so, Social Security. It was set up AS A FORCED RETIREMENT SAVINGS PLAN. That was its purpose from the very beginning.

All your talk about how it’s just another tax and it’s not a pension plan is merely you blowing smoke up our obamas. Social Security walks like a pension plan, and it quacks like a pension plan. It is, de facto, a pension plan.

Are you a Krispy Kreme fanboy, by chance?

[CivilWarBrewing]

ANYONE who gets a substantial monthly pension from his former employer SHOULD have his or her Social Security benefit MEANS TESTED AGAINST SAID PENSION.

Anyone who collects over $3k/mo from his pension + nearly $2k/mo from Social Security is bringing in over $60k/year for doing nothing.. Absolutely obscene, IMO. Economic RAPE it is. The public employee union pensions are far worse than this example.

[novemberslady]

Dear Governor Christie:

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

It is never alright to steal from people who work their whole life.
It is not up to you or anyone else to decide how much money a person should have when they worked for it, not you.

Who the hell have you been hanging out with?

[Lou L]

Here are some other ways that SS could be “fixed.” None are really palatable, and for many, those who are judged able to pay more, will either pay or get less.

http://crr.bc.edu/wp-content/uploads/2011/08/SS-Fixit_9.4.14_WEB.pdf

[ZULU]

No. Economic rape is FORCING people to pay into a retirement system, TELLING them it will be there for them, MISMANAGING the retirement system, BLAMING the people who are prisoners of it, THEN telling them you are cutting their benefits based on your inability to pay because you and your predecessors mismanaged it in the first place.

Chris Christie is a fat horse’s @$$.

In his tenure as governor of New Jersey he has done NOTHING to improve business frirndliness, supports illegals and Muslims, and doesn’t believe in the Second Amendment. New Jersey is STILL where it was in the list of business friendly states when he took over. DEAD LAST.

[Rodamala]

I have assumed for most of my working life that I will either be dead by the time I would have been able to collect what I paid into SS... or that there would be nothing to pay me back with. I think half of my generation believes the same thing.

[abb]

The WSJ’s take.

http://www.wsj.com/articles/christie-to-call-for-raising-age-for-social-security-cutting-benefit-for-some-seniors-1429018212?mod=trending_now_1

Chris Christie Calls for Raising Age for Social Security, Cutting Benefit for Some Seniors

In New Hampshire speech, New Jersey governor proposes overhaul of Social Security, Medicaid and Medicare

By Heather Haddon And Nick Timiraos
Updated April 14, 2015 2:00 p.m. ET

[kenmcg]

That’s the last shovel over his grave with political has beens. Note to Christy F you!

[Rodamala]

[nikos1121]

WHy not just give us our money when we turn 65, the whole lump sum?

[Little Ray]

Nope. Your Social Security is NOT yours.

In Fleming vs. Nestor the SCOTUS ruled that Social Security is an entitlement with a tax attached to it.

http://www.ssa.gov/history/nestor.html

[Little Ray]

So, work hard, save for your retirement, and get screwed out of Social Security. What a wonderful message for Americans.

[justlurking]

It wouldn’t solve the problem. One reason is that under current law, it would actually increase benefits for those above the cap. But, even if you change the law, it makes very little difference.

The SSA has evaluated this proposal, and the results are on their website. All it does is delay the inevitable for a few more years.

[justlurking]

Unfortunately, your money is long gone. It was given to your parents and grandparents almost immediately after it was collected from you.

Any money you get will come from your kids and grandkids.

[itsahoot]

Then they take your money away from you your whole working life but promise you a pension when you retire . Then they threaten to confiscate your pension ?

FICA Federal Insurance Contribution Act

Emphasis on Contribution in this act.

[Bigg Red]

Where was Christie or any other politician when I was forced to pay into Social Security out of my paycheck for over 40 years?