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Get Ready For The Upcoming Social Security Fight

Friday, June 15, 2012 - 8:55 AM
According to this US News article, we're seeing the early edge of a wave of fiscal reckoning involving public and private pensions as well as Social Security that is unavoidable.  Read more
pearlbrownpearlbrown1,465 posts since
Nov 2, 2010
Rep Points: 6,373
1. Friday, June 15, 2012 - 2:56 PM
Pearl:  Have you read the comments from people on that article?  If we thought the people were angry about low interest rates, it is nothing to how angry some of these folks are.  I agree with many of them.  The gov is ready to go after SS and Medicare after "they" used the money for other sources  and yet they don't seem to do much about the people who took $800,000.00 of our tax dollars for that GSA convention (?) and all the other wasteful spending going on with "our" money.  It just gives me the cringes to hear how we are sending tons of money to other countries who don't really like us and then want tax payers to help with our deficit problems!  Let them cut out all the giveaways to others before they ask us to bite the bullet, imo.  Too bad I can't find a Petition against this.  I would gladly sign!
paoli2paoli21,398 posts since
Aug 10, 2011
Rep Points: 6,127
2. Saturday, June 16, 2012 - 10:54 PM
Means testing for S/S and Medicare already exists. For example, folks with lower incomes have a lower percent of their S/S benefits taxed and pay a lower Part B premium. I would not at all be surprised by "stealth" increases to means testing going forward (100% of S/S taxed for wealthier folks, for example, along with higher Part B premiums starting at a lower income level than today). COLA "adjustments" for wealthier folks could be trimmed, or eliminated entirely. The IRS could fiddle with RMD start dates to push more seniors' AGIs up (read: collecting S/S? Fine, welcome to your RMD).

Not saying I'd like it. I just expect it.
BozoBozo137 posts since
Feb 14, 2011
Rep Points: 944
3. Sunday, June 17, 2012 - 9:04 AM
Bozo:  The AARP has  a campaign about protecting SS & Medicare.  It's very obvious that the gov is going to do something but what is my concern.  Do you know how they go about the "means" testing and what the categories are?  They can't just put up arbitrary figures  and think a person is wealthy.  One person my look like they have money but be using it to support an adult child who has lost their job and has medical problems.  Another may not look as rich on paper but has basically no debts so they can live a much richer life than the other.  Figures on paper do not make one wealthy, it's where the money has to go which decides the type of life one can live.  I am a bit confused about this "means testing" figure they will come up with.  Recently in another group, we were discussing "middle class" people and I thought I was in that category for income.  Someone sent me a chart for today's incomes and I was appalled!   I think I am poor!!  :)  The jokes on me!
paoli2paoli21,398 posts since
Aug 10, 2011
Rep Points: 6,127