In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Social Security makes the biggest jump since 2012.
droptop
Member Posts: 8,363 ✭✭
OK,, it hasn't happened yet but the projections are:
The Senior Citizens League, a nonpartisan senior advocacy organization, forecasts benefits will jump by 2.8 percent in 2019 ? which would be the largest increase in seven years. That is slightly down from the group?s previous forecast of 3 percent, but would still boost the average beneficiary?s check by $39 per month ? and raise the current maximum benefit collected by someone who retires at full retirement age by about $78 per month.
https://www.foxbusiness.com/personal-finance/social-security-checks-could-rise-by-most-since-2012
Another reason to keep Congress Republican.
The Senior Citizens League, a nonpartisan senior advocacy organization, forecasts benefits will jump by 2.8 percent in 2019 ? which would be the largest increase in seven years. That is slightly down from the group?s previous forecast of 3 percent, but would still boost the average beneficiary?s check by $39 per month ? and raise the current maximum benefit collected by someone who retires at full retirement age by about $78 per month.
https://www.foxbusiness.com/personal-finance/social-security-checks-could-rise-by-most-since-2012
Another reason to keep Congress Republican.
Comments
Don't worry the Medicare premium increase will offset any benefit increase.
quote:Jeez, whatever will I do with all those unexpected riches?
Don't worry the Medicare premium increase will offset any benefit increase.
That's what I was thinking...[xx(]
Don't thank the Democrats.
Thank your grandchildren and great-grandchildren.
You know, the ones who will be paying for it.[xx(]
Brad Steele
quote:Jeez, whatever will I do with all those unexpected riches?
Don't worry the Medicare premium increase will offset any benefit increase.
[:(!] Welfare just doesn't seem to work for me.
So let's see......,If we are lucky,a tiny bit of that increase may reach us if Medicare premium increases don't grab it all.
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
Brad Steele
It's what they do on all levels of government. Federal, State, County, Municipal and even schools and park districts ect. [xx(]
If it is acknowledged as nothing more than a income tax it is a regressive tax.
Why is it only collected on the first 70-130K depending on the year it was collected and that means we should go back and collect the TAX from all earners for the years it wasn't collected over the cap.
That and removing the cap should take care of any short falls
quote:Originally posted by Don McManus
quote:Originally posted by truthful
So let's see......,If we are lucky,a tiny bit of that increase may reach us if Medicare premium increases don't grab it all.
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
Sorry Don but the politicians(puke)will keep SS bankrupt no matter what we do.
It's what they do on all levels of government. Federal, State, County, Municipal and even schools and park districts ect. [xx(]
Any possibility that when a politician suggest that SS payments have to be cut to save SS, that politician is either voted out of office or is never voted in?
If we as voters encourage government to give us money it doesn't have, government will do so.
Trump would not have been elected had he stated that he would cut SS payments, or eliminate cost of livening increases so that the system would pay for itself before the 'trust fund' runs out of money. Politicians from both parties continue to buy votes with SS dollars that do not exist. It would be fine if we were the ones that will suffer for it. The fact is that may suffer a little, but our children, grand children and their children will bear the brunt.
It is criminal and it is driven by a selfish electorate, not politicians.
Brad Steele
We'll do what we always do when there is a budget shortfall....borrow more money.
You'll still get your promised benefit..in dollars that have the purchasing power that coins do now.
I agree so then
If it is acknowledged as nothing more than a income tax it is a regressive tax.
Why is it only collected on the first 70-130K depending on the year it was collected and that means we should go back and collect the TAX from all earners for the years it wasn't collected over the cap.
That and removing the cap should take care of any short falls
quote:Originally posted by Don McManus
quote:Originally posted by truthful
So let's see......,If we are lucky,a tiny bit of that increase may reach us if Medicare premium increases don't grab it all.
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
Removing the cap could be part of the solution, as would more aggressive means testing, and getting a better handle on payouts.
An open and honest evaluation of the problem and potential solutions with solid statistical data as to the impact of each individual part of the solution would be necessary before we hit a 'should take care of' moment.
I am willing to pay in a little more and receive a little less so that someone who did not achieve the success I achieved can retire before the body is worn out.
Brad Steele
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
If the government had kept their dirty fingers out of SS it would never have gone broke. When they started dipping into SS for things that it was never intended to be used for that's when it started to go under and not from the measly cost of living increases paid out to people that paid into it all their lives.
Don't thank the Republicans.
Don't thank the Democrats.
Thank your grandchildren and great-grandchildren.
You know, the ones who will be paying for it.[xx(]
We'll just be getting back a small portion that we paid in through our lives...
quote:Originally posted by Don McManus
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
If the government had kept their dirty fingers out of SS it would never have gone broke. When they started dipping into SS for things that it was never intended to be used for that's when it started to go under and not from the measly cost of living increases paid out to people that paid into it all their lives.
Yep....
quote:Originally posted by Don McManus
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
If the government had kept their dirty fingers out of SS it would never have gone broke. When they started dipping into SS for things that it was never intended to be used for that's when it started to go under and not from the measly cost of living increases paid out to people that paid into it all their lives.
What do you mean by 'things it was never intended to be used for'?
Brad Steele
just over $40, enough for 2 cases of beer [:D]
A month, 24 a year, 240 in 10 years. [:D]
What do you mean by 'things it was never intended to be used for'?
Disability and school loans to name a couple.
quote:Originally posted by truthful
So let's see......,If we are lucky,a tiny bit of that increase may reach us if Medicare premium increases don't grab it all.
If we are lucky? If we are honest and if we respect our children, we will halt all increases until the system becomes solvent.
The system is "pay forward", you pay today for those retired. The rate is a lot higher than it was in 1970. I believe the SS is solvent, but, people need jobs and higher pay.
More people working PAYING S.S. = Funds to pay those retired.
In 1966 The population was less than 200 million. It's 325 million today. The idea is to get 90% of the workers employed and paying SS. Then figure out how to keep folks off welfare and being productive.
If you can't feel the music; it's only pink noise!
More people are working and PAYING the most money that has ever been paid into Social Security.
One simple solution is to contribute more in payroll taxes -- if you make more money. How to get more contributions, more people working at higher pay. The ones working today are paying today's retirees.
Those who want to undermine or deep-six Social Security spread the false message that it won't be around, particularly for future generations. That's been a strategy of those who want to destroy social insurance programs for decades. But it's simply not true, since Social Security, Medicare and Medicaid are essential -- and successful -- in reducing poverty.
https://www.forbes.com/sites/johnwasik/2018/06/08/fake-news-why-social-security-isnt-going-broke/#4cf010064e55
Never getting it back? maybe if you die before retirement, yes. But I can remember paying minor dollars per month and was "paid up" after 5 months in the 60's, 70's and 80's. Pretty sure I'll get what I paid in, if not already, very soon. If you consider Medicare benefits, got all the money back.
quote:Jeez, whatever will I do with all those unexpected riches?
Don't worry the Medicare premium increase will offset any benefit increase.
They say medicare premiums are projected to go up $1.50, since they don't do change it will go $2.00.
Simply remove the Cap and charge ALL earnings the full rate. That alone would resolve the issue and in order to prevent trickery apply the TAX to all earnings that way those who don't receive earnings as a pay check still pay in.
And before it gets said, some argue why should people have to pay in more when they can only draw out X dollars. We all pay for food stamps and welfare and we don't all draw it. That is why Social Security should be means tested and those who earn above a certain amount shouldn't be drawing it!
Social Security is an easy fix. We all acknowledge it isn't a savings account it is a tax. Why do we allow the wealthiest Americans a 12.6% tax break on all earnings over the Cap?
Simply remove the Cap and charge ALL earnings the full rate. That alone would resolve the issue and in order to prevent trickery apply the TAX to all earnings that way those who don't receive earnings as a pay check still pay in.
And before it gets said, some argue why should people have to pay in more when they can only draw out X dollars. We all pay for food stamps and welfare and we don't all draw it. That is why Social Security should be means tested and those who earn above a certain amount shouldn't be drawing it!
I've read the RICH don't want Social Security and know they don't need Social Security. Think that would be OK with today's rich because many have said so. Personally think "MEANS TESTING" is a "slippery slope" after all, they paid in and MUCH MORE than the average person. Reminds me of the INCOME TAX. Only the rich would pay and only a few percentage points. Ha, Ha, Ha.
Buffet has gone on record with his "fixes" to avoid a shortfall in 2034. Have every confidence it will be fixed, with no reduction in benefits.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx (2018)
Income tax, when it started real low, and now.
Main article: History of taxation in the United States
In 1913, the Sixteenth Amendment to the United States Constitution made the income tax a permanent fixture in the U.S. tax system. In fiscal year 1918, annual internal revenue collections for the first time passed the billion-dollar mark, rising to $5.4 billion by 1920.[14] The amount of income collected via income tax has varied dramatically, from 1% in the early days of US income tax to taxation rates of over 90% during WW2.
https://en.wikipedia.org/wiki/Income_tax
quote:Originally posted by Hunter Mag
Sorry Don but the politicians(puke)will keep SS bankrupt no matter what we do.
It's what they do on all levels of government. Federal, State, County, Municipal and even schools and park districts ect. [xx(]
Any possibility that when a politician suggest that SS payments have to be cut to save SS, that politician is either voted out of office or is never voted in?
If we as voters encourage government to give us money it doesn't have, government will do so.
Trump would not have been elected had he stated that he would cut SS payments, or eliminate cost of livening increases so that the system would pay for itself before the 'trust fund' runs out of money. Politicians from both parties continue to buy votes with SS dollars that do not exist. It would be fine if we were the ones that will suffer for it. The fact is that may suffer a little, but our children, grand children and their children will bear the brunt.
It is criminal and it is driven by a selfish electorate, not politicians.
The dollar will devaluate first then a War in the Middle East or vice versa and if we lose with our limited forces there it will only get worse. They are building up opposing forces over there everywhere.
It's not going to be some third-rate dictator this time but Russia, Turkey, and China.
serf
https://www.zerohedge.com/news/2018-09-21/china-threatens-retaliation-against-us-over-military-sanctions
China, predictably, was furious, with Foreign Ministry spokesman Geng Shuang telling reporters in Beijing that the move seriously harmed bilateral relations and military ties.
"China expresses strong indignation at these unreasonable actions by the U.S. side and has already lodged stern representations."
"We strongly urge the U.S. side to immediately correct the mistake and rescind the so-called sanctions, otherwise the US side will necessarily bear responsibility for the consequences," he said, without giving details.
serf
quote:Originally posted by Bottom Gun
quote:Jeez, whatever will I do with all those unexpected riches?
Don't worry the Medicare premium increase will offset any benefit increase.
[:(!] Welfare just doesn't seem to work for me.
Social Security is not welfare. It is an insurance policy funded by employee and employer FICA payments over the employees working career. It can be argued that Social Security is actually an annuity differing only in taxation rules.
Welfare is government support for the citizens and residents of society. It is intended to ensure that the poor can meet their basic human needs such as food and shelter...
Unfortunately, lack of proper oversight by government agencies and political pandering, welfare abuse is a way of life for some that are capable of providing for themselves...which , in my opinion, is fraudulent and no different than thievery.
This said, I will gladly accept any COLA increase to my Social Security check and have no qualms in doing so...As the old lady said while peeing in the ocean..."Every little bit helps." [:D]