Category Archives: Social Security
Turn 65 and you are forced into Medicare and pay a fortune more for health insurance with less benefits
What a difference a year makes.
You are one of the millions of Americans, who don’t have company health insurance. Damned with a pre-existing condition, you carry so-called Obamacare (www.healthcare.gov).
Next year, you turn 65 and must enroll in Medicare.
There’s no good news, just bad news for you. Obamacare is a far better plan than Medicare and costs at least $1,800 less a year.
Worst of all, there’s no limit on how much you might spend on healthcare and then face bankruptcy. Continue reading →
If we treat the military budget like Social Security, Army will consist of one “Mad Dog” and 3 puppies
The Social Security Trust Fund now totals $2,892,000,000 – just about the highest amount in history, and some scolds are still sad.
To promote their austerity charade, the front groups of the Koch Brothers (descendants of the co-founder of the John Birch Society) just released their attack dog, John Stossel.
J. S. rants on FOX News about silly things, even suggesting everyone should save some 20% of their wages for retirement and maintaining that the poor don’t need luxuries like public schools or highways.
Social Security is running out of money. You may not believe that, but it’s a fact. That FICA money taken from your paycheck was not saved for you in a “trust fund.” Politicians misled us. They spent every penny the moment it came in. – Stossel (worth $4 million) laments.
Federal Reserve is now big part of National Debt for bailing out banks; Social Security $$ not owed to us?
What government pretends to owe…
The Social Security Trust Fund of some $2.8 trillion is often listed in charts – such as the one above – as part of the National Debt. This particular graphic, the latest available, is from the Federal Reserve, an institution that is part of the huge debt and is owed $2.465 trillion by taxpayers.
The difference between the Social Security “debt” and the Fed debt is an amazing accounting sleight of a sharp pencil. Continue reading →
H-2A workers don’t pay Social Security (FICA) tax, neither do the millionaires who are exploiting them
Foreign agricultural workers temporarily admitted into the United States on H-2A visas are exempt from U.S. Social Security and Medicare taxes on compensation paid to them for services performed in connection with the H-2A visa. This is true whether they are resident aliens or nonresident aliens.
In addition, compensation paid to H-2A agricultural workers for services performed in connection with the H-2A visa is not considered to be “wages” for purposes of federal income tax withholding, and thus is not subject to mandatory withholding of U.S. federal income tax…Internal Revenue Service
More than 160,000 new temporary (up to three years extension allowed) workers were issued H-2A Visas last year, with about half of those going to Georgia, North Carolina, Florida, Washington and California. Their employers did not pay the company share (6.2%) for FICA (Social Security) or Medicare tax (1.45%). Their bosses didn’t even withhold income taxes, making net pay almost the same same as gross pay. Continue reading →
Those April showers have drowned the media this year with reports of a petulant, prosthetic protuberant princess, also know as “What’s Her Name” or “Smarmy Scandals.”
Meanwhile, back in Congress, 233 members – 54% of that angst body – voted to destroy the Social Security system by not allowing the use of its $2.9 trillion in reserves, forcing cuts of up to 24% in coming years.
As a big boy bonus, this bookkeeping manipulation will allow the fiscal twits to proclaim that nearly three trillion dollars has been cut from the National Debt. These reserves come from excess FICA taxes previously paid by Americans to subsidize years where there was a tax collection shortfall.
But like Tiger Woods winning this year’s Masters (tied at 32), it was not to be. The bill – H.J. Res 2 – required a 66% vote to pass. It fell short by 12%, but under House rules this Constitutional Amendment can be brought up over and over again. Continue reading →
N Y Post can’t stand fact that worker earned a big pension while pub’s boss is worth $15,700,000,000
Retired NYC sanitation worker makes $285K a year from pension
That New York Post headline made many folks angry. Do garbage collectors get pensions worth more than they deserve? Are evil unions behind this? Or dopey Dems? Or a PC still running only DOS?
To illustrate their point, the newspaper published a photo, sort of artsy-fartsy, of a trash truck. That’s to show those readers, who live in gated communities, that there is a device, which removes that garbage the help takes out to the curb on Tuesdays and Fridays.
But back to that big pension – $285,000 a year.
The facts often get in the way of a sensational story, and this one is not an exception. Continue reading →
Ayn Rand’s novel, Atlas Shrugged, begins with a simple question: Who is John Galt?
The answer comes in the last third of that 1957 book, where Galt emerges as the champion of capitalism and defender of Rand’s Objectivism philosophy, which has opposed:
- Child and Adult Care Food Program
- Federal Housing Assistance
- Food Stamps
- Head Start
- Low-Income Home Energy Assistance Program
- Medicare & Medicaid
- Nationalized Health Care
- School Lunch and Breakfast Programs
- Social Security
- Special Supplemental Nutrition Program
- State Children’s Health Insurance Program
- Temporary Assistance for Needy Families
- The Pension Benefit Guaranty Corporation
- Title XX Social Services Block Grant Program
- Trade Adjustment Assistance
- Workers’ Compensation
Galt was not real, but he was a hero to the children of many wealthy families. These sheltered capitalists-in-training saw Ayn Rand as a hero, because she espoused that caring for nobody but yourself was not selfish, but a virtue. Continue reading →
When the right and left political wings agree, you can bet middle-class Americans are in trouble.
And if you are talking about Social Security, a new bipartisan plan spells major cuts in benefits, as the establishment is set to privatize our public retirement system after the mid-term elections next year.
About $2.8 trillion (2,800,000,000) has been borrowed since the 1980s from your Social Security contributions to pay for bureaucratic wars on poverty. to fight real wars on ungrateful Arabs, to sweetheart deals to campaign contributors, and to create a war machine larger than all other countries combined.
But the political class has decided it should not pay back this money, but will instead cut your Social Security benefits enough so they you only get benefits from FICA taxes paid in the current year, and receive none of the money borrowed from the Trust Fund, which will be dissolved. Continue reading →
GOP House passes plan to raise Medicare eligibility age to 67, then turn it over to insurance companies
Time after time, Mr. Donald Trump promised no cuts to Medicare and Social Security, but the current leader of the nation and Republican Party now seems to have a change of heart – to put it very kindly – or he has just wandered even deeper into the swamp.
It could be the President is distracted by his fake plan to lower taxes for the middle class and so he hasn’t noticed the GOP-dominated House passed its 2018 budget resolution on Thursday by a vote of 219-206. The cunning House Speaker Paul Ryan led his swarm to approve cutting $1.5 trillion from Medicare and Medicaid. Eighteen Republicans voted against the resolution, along with all the attending Democrats.
Robert Roach, who heads the Alliance for Retired Americans, was furious at the news: Continue reading →
“If you’re single and earn less than $25,000 per year, or married and jointly, and jointly earn less than $50,000 – so very important – if you’re single and make less than $25,000 or married and jointly earn less than $50,000, you’ll not pay any income tax. Nothing.” – Donald Trump
September 29, 2015
@2:00 – Less than $25,000 or jointly less than $50,000, pay no taxes
February 3, 2017
In January President Trump took office and almost immediately lowered the benefits of his “middle class” tax plan. Suddenly, the $25,000 and $50,000 standard deductions promised on the campaign were slashed 40% to just $30,000 and $15,000. Continue reading →