Most Excellent Bill Proposed to Boost Social Security $2,400

[Jingthing]

Let's go Bernie!

 

As so many retired seniors live either all or mostly on social security income, inflation is especially brutal for this class of people.

 

Of course (reformed) COLAs would still be in effect. 

 

The bill includes other key changes to promote the long term viability of the program. 

 

 

New Bill Would Boost Your Social Security Check by $2,400 Per Year - SmartAsset

Quote

 

Bernie Sanders (I-VT) and Democratic lawmakers believe they have a plan to fix Social Security for the long term, and in doing so, boost benefits by $2,400 per year.

Sanders and U.S. Rep. Peter DeFazio, (D-Ore.), recently introduced the Social Security Expansion Act, legislation that seeks to extend the solvency of the safety net by 75 years and increase benefits by $200 per month. While Sanders sponsored a version of the bill in the Senate with a number of Democratic co-sponsors, DeFazio introduced the same bill in the House of Representatives.

 

 

 

[hereforgood]

Don't see this happening but I did see the first estimate for the next COLA and it was 8.6   

[mania]

Quote

Raise Taxes on the Wealthy to Extend Solvency of Social Security

Ah the age old answer to everything...And if the rich say screw it I'm outa here?

 

How about something easier like cutting the insane Military expenditures per year?

How about shutting down some of the 700 US bases worldwide?

 

US military spending amounted to $801 billion in 2021 there is the elephant in the room

[Jingthing]

200 per month sounds quite modest and in the realm of the possible. Its not as if the proposal is to double it.

[Jingthing]

2 hours ago, mania said:

Ah the age old answer to everything...And if the rich say screw it I'm outa here?

 

How about something easier like cutting the insane Military expenditures per year?

How about shutting down some of the 700 US bases worldwide?

 

US military spending amounted to $801 billion in 2021 there is the elephant in the room

That's out of context.

The proposal.is specific and technical to raise the income cap for social security payroll taxes only to 250k from 147k. Income over 250k would not be impacted. Raising income caps for social security payroll taxes is inevitable for the very popular program to be saved. This proposal is very reasonable and not at all radical.

 

This topic has nothing to do with military spending.

[BusyB]

4 hours ago, Jingthing said:

200 per month sounds quite modest and in the realm of the possible. Its not as if the proposal is to double it.

It's too much for those who still believe they'll be millionaire's one day and will then have to pay higher taxes to fund it ????

[Mike Teavee]

6 hours ago, mania said:

Ah the age old answer to everything...And if the rich say screw it I'm outa here?

Reminds me of the Parable of 10 men in a bar... 

 

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100.

If they paid their bill the way we pay our taxes, it would go something like this:...

https://thewealthnavigator.com.au/the-parable-of-10-men-in-a-bar/

 

 

 

[Wrwest]

6 hours ago, mania said:

Ah the age old answer to everything...And if the rich say screw it I'm outa here?

 

How about something easier like cutting the insane Military expenditures per year?

How about shutting down some of the 700 US bases worldwide?

 

US military spending amounted to $801 billion in 2021 there is the elephant in the room

My wish list would include raising the cap on required contributions, top down military realignment which would reduce both the global policing stance and the accompanying budget, and treating earned civilian Medicare on the same basis as earned retired military (currently military retirees get global coverage while civilians get no coverage outside U.S. territory).

[Jingthing]

49 minutes ago, Wrwest said:

My wish list would include raising the cap on required contributions, top down military realignment which would reduce both the global policing stance and the accompanying budget, and treating earned civilian Medicare on the same basis as earned retired military (currently military retirees get global coverage while civilians get no coverage outside U.S. territory).

Non military expats have almost no political clout.

[allanos]

The US has to project military might around the world, and fight any wars

it deems necessary, in order to maintain and bolster dollar strength as the

world's reserve currency, a position it is not going to give up readily.

 

Something like 40% of the world's trade is conducted in USD, whilst the USA

itself only accounts for around 10% of international trade.

 

Protecting dollar strength is one means of restraining galloping inflation at

home, which is already at its highest in forty years. If the mighty dollar were

to fall, its purchasing power falls too.  The consequences domestically are

enormous. 

 

Mr Biden and the Dems have already figured this out. He wants a second

term. He can kiss it goodbye if inflation gets out of control.

[Rhys]

Does SS run out in 2035?

 

[Wake Up]

We have all become a generation of what can the government give me?  Life is not fair. I am special I have needs I need more money I deserve it. Pathetic. The reason we have such a huge government and owe so much debt and have become weak dependent sheep. 
 

Want more money. Get a job. 

[Iamfalang]

4 minutes ago, Wake Up said:

I need more money I deserve it.

the best!!!!   My dad once gave me like 3 million baht (conversion, of course) when I graduated college.

 

used it to help buy a house, made another 7 million baht.

 

life is not fair!!!!

 

now get a job  you lazy people!!!!  hahaahhahahahahahhahahahah

 

bitcoin all day, get rich and sleep!!!! 

 

poor people are the worst!!!!!  why can't everyone be born in a good family like I was???  not my fault.  American presidents get 10 million USD for one speech, that's fair!!!!  they can buy property for almost nothing, fair!!!!  bailouts for banks, fair!!!

 

just get as much money as you can....and YOLO!!!

[Jingthing]

21 minutes ago, Rhys said:

Does SS run out in 2035?

 

Not literally run out but stressed. The income cap must be raised!

[Jingthing]

13 minutes ago, Wake Up said:

We have all become a generation of what can the government give me?  Life is not fair. I am special I have needs I need more money I deserve it. Pathetic. The reason we have such a huge government and owe so much debt and have become weak dependent sheep. 
 

Want more money. Get a job. 

People on social security are retired. They paid into the program while working.

[ThailandRyan]

12 hours ago, hereforgood said:

Don't see this happening but I did see the first estimate for the next COLA and it was 8.6   

COLA for who? and where did you see this.

[ThailandRyan]

5 minutes ago, Jingthing said:

People on social security are retired. They paid into the program while working.

My Father worked for 47 years in his profession. The last company he worked for sold to another company and they terminated all of the employees, he was 2 months away from having worked long enough for a pension and lost out.  The Pension guaranty act kicked in for him upon his retirement and he was given $186 dollars a month for his 29 years and 10 months.  His SS income was a whopping $1640 a month, for a grand total of $1826 a month.  Thankfully he had paid off his house, but still needed to find part time work to keep him afloat after paying his bills every month, buying his food and taking care of what his Medicare did not.  Lucky for him he had SS as he had paid into it his entire life of working, but it is a pittance.  Had he lived somewhere other than California he may have had more money, but had he not had SS security the man would have been homeless.

[hereforgood]

1 hour ago, ThailandRyan said:

COLA for who? and where did you see this.

A couple days ago on yahoo. For those on SS 

[ThailandRyan]

1 minute ago, hereforgood said:

A couple days ago on yahoo. For those on SS 

Thanks, since I do not receive SS and instead have a pension that gets a COLA adjustment each year it is why I asked the Q?

[thailand49]

11 hours ago, mania said:

Ah the age old answer to everything...And if the rich say screw it I'm outa here?

 

How about something easier like cutting the insane Military expenditures per year?

How about shutting down some of the 700 US bases worldwide?

 

US military spending amounted to $801 billion in 2021 there is the elephant in the room

Bernie has been office for fifty years he never pass a bill everytime the CBO examines his bills they LOL. His career has been blowing smoke up his own old ass and I'm a Democrat until he came along running in their primary. 

 

Today I'm not for cutting the military budget but do agree we need to leave some of the bases these countries are nothing but blood sucking leeches.  The generals just need to get leaner and meaner instead of overpaying for everything.

U. S.  Need to cut off all the unaccountable charity need to pay there share into organizations like U. N., W. H. O., W. T. O., 

N. A. T. O.  Long list.  

 

[1FinickyOne]

11 hours ago, Jingthing said:

200 per month sounds quite modest and in the realm of the possible. Its not as if the proposal is to double it.

A Scottish economist a couple of hundred years ago said that democracies ultimately fail because eventually the people vote themselves rich... 

 

of course in USA they seem to be finding plenty of reasons for the democracy to fail lately... I think there is something in the air or water... 

[Jingthing]

1 hour ago, 1FinickyOne said:

A Scottish economist a couple of hundred years ago said that democracies ultimately fail because eventually the people vote themselves rich... 

 

of course in USA they seem to be finding plenty of reasons for the democracy to fail lately... I think there is something in the air or water... 

200 more is rich?

[1FinickyOne]

1 hour ago, Jingthing said:

200 more is rich?

you don't need the 200 more to qualify... the 200 is on top of medicare and social security and all the spending programs... people live a long time now and the lifetime benefits are enormous... add in military pensions and disability... you may not think it is being rich, but ask a coal miner or steel worker who retired 200 years ago... 

[Etaoin Shrdlu]

Social Security contributions are currently 6.2 percent of wages paid both by employee and employer for a total of 12.4 percent. Self-employed individuals pay the full 12.4. Currently, Social Security taxes are only levied on the first $147,000 of wage income.

 

Compare this with Federal income tax rates that go up to 37 percent and there is no income cap and is not limited to wage income. Federal income taxes go towards discretionary spending items. Military and defense account for over fifty percent of discretionary spending, so basically over half of Americans' Federal income tax goes toward the military. 

 

Yet Republicans attack Social Security and other entitlement programs as being too expensive. Social Security, even if the rates increase a bit and the cap is raised, seems a bargain to me when compared with Federal income taxes.

 

Then there's a separate discussion about where SS benefits go and where military spending goes, and why.

 

 

 

 

[1FinickyOne]

7 minutes ago, 1FinickyOne said:

ask a coal miner or steel worker who retired 200 years ago... 

 

1 hour ago, Jingthing said:

200 more is rich?

If you find one who can still talk with you, that is.. 

[ericthai]

7 hours ago, Wake Up said:

We have all become a generation of what can the government give me?  Life is not fair. I am special I have needs I need more money I deserve it. Pathetic. The reason we have such a huge government and owe so much debt and have become weak dependent sheep. 
 

Want more money. Get a job. 

Social security is not benefit, it is something we paid into.

[ericthai]

5 hours ago, hereforgood said:

A couple days ago on yahoo. For those on SS 

dont worry they will raise the medicare part B premium to take most of the 8% back!

[bbko]

16 hours ago, mania said:

How about something easier like cutting the insane Military expenditures per year?

How about shutting down some of the 700 US bases worldwide?

I did 24 years in the US military and when I was in a senior position in my sections around the world, towards the end of every fiscal year we'd have excess money in our budget and were told to spend it all, even if we didn't need to.  Office furniture/work equipment still good?  Who cares,  spend/buy newer stuff even though it wasn't needed.  Still have 10's of thousands of dollars in the budget? Find something to spend it on or next year's budget would be smaller and the higher ups didn't want that. 

 

A shameful waste of taxpayer money. 

[GinBoy2]

9 hours ago, Rhys said:

Does SS run out in 2035?

 

For as long as I can remember SS has 'going to been bankrupt' within the next 10 years!

[GinBoy2]

17 minutes ago, bbko said:

I did 24 years in the US military and when I was in a senior position in my sections around the world, towards the end of every fiscal year we'd have excess money in our budget and were told to spend it all, even if we didn't need to.  Office furniture/work equipment still good?  Who cares,  spend/buy newer stuff even though it wasn't needed.  Still have 10's of thousands of dollars in the budget? Find something to spend it on or next year's budget would be smaller and the higher ups didn't want that. 

 

A shameful waste of taxpayer money. 

I have heard that same story from various arms of government.

 

Ahh my tax $$ at work!