There are a couple other very nasty provisions in the new law, but the basic story is that Congress, at the president’s urging (contained in his 2015 budget proposal) just cut many if not most Americans’ Social Security benefits by thousands to tens of thousands of dollars. Even worse, the new law will push many people to take their retirement benefits earlier and at far lower levels than they had planned.
thanks for posting this.
Making decisions on Federal Government programs, in my experience, is always a “heads” they win, “tails” I lose proposition.
Then again, I am not a Muslim or central American immigrant.
I took advantage of a SS loophole that I think shouldn’t have existed, and in fact, is now closed with the new act.(except for some minor grandfathering)
My spouse & I are the same age. I took full retirement @ 66. My wife filed a restricted spousal monthly benefit that is half of mine.
As she approaches 70, she will either file under her own or if I’m dead, take mine. In the mean time, she socks away 48 months of benefits.
Nice little nest egg.
Bookmark
It’s all about money and control. They want complete control over who gets what and who pays what. That is communism, without the name.
There is no lockbox. The politicians have already stolen the money and we’re $20 trillion in debt, so expect them to keep chipping away at what you’ve earned.
HISTORY LESSON ON YOUR SOCIAL SECURITY CARD
Just in case some of you young whippersnappers (& some older ones) didn’t know this. It’s easy to check out, if you ...don’t believe it. Be sure and show it to your family and friends. They need a little history lesson on what’s what and it doesn’t matter whether you are Democrat or Republican. Facts are Facts.
Social Security Cards up until the 1980s expressly stated the number and card were not to be used for identification purposes.
Since nearly everyone in the United States now has a number, it became convenient to use it anyway and the NOT FOR IDENTIFICATION message was removed.
Franklin Roosevelt, a Democrat, introduced the Social Security (FICA) Program.
1.) That participation in the Program would be Completely voluntary [No longer voluntary],
2.) That the participants would only have to pay 1% of the first $1,400 of their annual Incomes into the Program [Now 7.65% on the first $90,000, and 15% on the first $90,000 if you’re self-employed],
3.) That the money the participants elected to put into the Program would be deductible from their income for tax purposes each year [No longer tax deductible],
4.) That the money the participants put into the independent ‘Trust Fund’ rather than into the general operating fund, and therefore, would only be used to fund the Social Security Retirement Program, and no other Government program [Under Johnson the money was moved to the General Fund and Spent], and
5.) That the annuity payments to the retirees would never be taxed as income [Under Clinton & Gore up to 85% of your Social Security can be Taxed].
Since many of us have paid into FICA for years and are now receiving a Social Security check every month — and then finding that we are getting taxed on 85% of the money we paid to the Federal government to ‘put away’ — you may be interested in the following:
Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the general fund so that Congress could spend it?
A: It was Lyndon Johnson and the democratically controlled House and Senate.
Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?
A: The Democratic Party.
Q: Which Political Party started taxing Social Security annuities?
A: The Democratic Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US
AND MY FAVORITE:
Q: Which Political Party decided to start giving annuity payments to immigrants?
A: That’s right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!
Now, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
And the worst part about it is uninformed citizens believe it!
They basically cut loopholes in the law that allowed people to play fancy games with the system.
The government has become so disgusting that it about time for everyone to stop paying federal income taxes. We are at the last stage of an old shell game where government offers and entitlement that has actual benefits to get people on board and then when they have forced everyone on it they strip away the benefits to the taxpayer and leave the tax in place.
Once social security is worthless how much longer are the bulk of workers going to be to happy to hand over roughly 15% of their wages for nothing?
I’ve been planning on having nearly nothing if anything at all for SS when I finally get there. 25+ more years to go (depending what adjustments get made between now and then).
Bastards.
All of them!
This is a disaster......................
Allow me to opt out
Let me keep my social security deductions, and I will not ask Fed.gov for any retirement money.
Isn’t that a fair deal?
It's time we stopped throwing trillions down sh*thole countries who hate us. No wonder we're 20 trillion in debt!
WHAT OTHER COUNTRY IS THIS STUPID?
DONALD IS RIGHT!!!
WE'RE BEING TAKEN- RIPPED OFF- AND AMERICANS ARE SUFFERING!!!
For instance the muslim handing over 150 trillion to Iran. For WHAT? So they they finish developing an atomic bomb and wipe us off the map?
This is why the government is 'messing' with SS. It's been looted to pay for THIS :
BILLIONS FOR JIHAD! Obamas 2009 Supplemental Appropriations for Iraq, Afghanistan, Pakistan, and Pandemic Flu was revised and passed by the full committee. It gives billions of U.S. taxpayer dollars to countries and entities that support Sharia law and/or harbor, hide and support those who want to destroy the U.S. and our allies. http://creepingsharia.wordpress.com/2009/05/1...
Read the summary from David Obeys office that was quietly released last week with nary a word from any media.
$3.6 BILLION matching the request, to expand and improve capabilities of the Afghan security forces
$400 MILLION, as requested, to build the counterinsurgency capabilities of the Pakistani security forces
AFGHANISTAN: $1.52 BILLION, $86 MILLION above the request WEST BANK AND GAZA: $665 MILLION in bilateral economic, humanitarian, and security assistance for the West Bank and Gaza
JORDAN: $250 million,$250 million above the request, including $100 million for economic and $150 million for security assistance
EGYPT $310 million above the request, including $50 million for economic assistance,$50 million for border security, and $260 million for security assistance
PAKISTAN,$591 million above the request
IRAQ:$968 MILLION,$336 million above the request
Oversight: $20 million,$13 million above the request, to expand oversight capacity of the State Department, USAID, and the Special Inspector General for Afghanistan to review programs in Afghanistan, Pakistan and Iraq
Lebanon:$74 million
International Food Assistance:$500 MILLION $ 200 million above the request, for PL 480 international food assistance to alleviate suffering during the global economic crisis
REFUGEE ASSISTANCE:$343 MILLION,$50 million above the request, including humanitarian assistance for Gaza.
Funding for the UN Relief and Works Agency programs in the West Bank and Gaza is limited to $119 million (Note: Gaza = Hamas)
Disaster Assistance: $200 MILLION to avert famines and provide life-saving assistance during natural disasters and for internally displaced people around the world, including Somalia, Zimbabwe, Ethiopia, the Middle East and South Asia
Department of Justice: $17 million, matching the request, for counter-terrorism activities and to provide training and assistance for the Iraqi criminal justice system
OBAMA GIVES YOUR TAX DOLLARS TO REBUILD MUSLIM MOSQUES AROUND THE WORLD! http://canadafreepress.com/index.php/article/... #
Obama Invites 80,000 Muslim Immigrants Into the United States – Promises 100,000/Per Year for Next 5 Years
And THAT'S the tip of the iceberg.
Donald is RIGHT!
AND DONALD IS THE ONLY WHO HAS HAD THE COURAGE TO BRING UP THIS ISSUE- AS WELL AS MEXICO USING THE U.S TO UNLOAD AND TAKE CARE OF ITS POOR AND UNDESIRABLES BY FLOODING THEM ACROSS THE BORDER AND BE PUT ON WELFARE FOR U.S. TAYPAYERS TO TAKE CARE OF VIA ITS GENEROUS WELFARE.
OBAMA HAS JUST ANNOUNCED THE CRIMINAL INVADERS (FUTURE RAT VOTERS) WILL BE GIVEN ALMOST $17,00- MORE THAN MOST OF OUR SENIORS EARN IN SS PAYMENTS IN A YEAR!
DONALD IS THE ONLY ONE WHO WILL PUT A STOP TO THIS INSANITY!
WE MUST PUT AMERICANS AND AMERICA FIRST!
Our seniors on SS are among the poorest of the poor (after helping to make America the great country it is- or was.) No cost of living raise in sight.
(and don't forget; the CubanCanadian lawyer wants to CUT our U.S. senior's Social Security!!! [GOOGLE IT])
Our bridges, airports, hiways-AMERICA ITSELF IS falling apart!
STOP THE HANDOUTS!!! DONALD IS THE ONLY ONE WHO HAS CALLED FOR THE REBUILDING OF OUR DEPLETED MILITARY AND TO TAKE CARE OF OR VETERANS!
PUT AMERICA AND AMERICA FIRST. STOP THE HANDOUTS. MAKE AMERICA GREAT-AND RESPECTED AGAIN!!!!
Notice how quickly Congress can move when they want to screw you.
It’s always been a wealth transfer Ponzi scheme.
Washington needs term limits, a prohibition on omnibus bills, and no pension for Congresspersons.
Plus no COLA.
5.56mm
Have to give benefits to those illegals and rapeugees coming in.