Economic Relief But At What Cost?

It seems that Donald the Orange has a problem with the latest economic relief package…..he will screw seniors over cuts in Social Security that he and those spineless pricks in the GOP desire.

“Trump’s actions are a war on seniors. He is insisting on threatening Social Security on which most seniors rely for their food, medicine, and other basic necessities.”

Grassroots advocacy groups representing millions of retirees and seniors across the United States are speaking out against and urging Congress to oppose President Donald Trump’s threat to block desperately needed Covid-19 relief legislation if it does not slash the payroll tax, which funds Social Security and Medicare.

“It is outrageous, callous, and cruel for President Trump to hold the American people, and seniors in particular, hostage if Congress doesn’t go along with his plan to gut Social Security for current and future retirees,” said Richard Fiesta, executive director of the Alliance for Retired Americans, an organization with over four million members nationwide.

“The president’s plan is also bad economics. Social Security puts more than $800 billion into the economy each year. Destabilizing the system when we are in the middle of an economic downtown is exactly the opposite of what we need to do,” Fiesta added. “The 4.4 million members of the Alliance for Retired Americans call on all members of Congress to refuse to make such a deal. We will fight this attempt to gut Social Security and in November we will remember who was willing to defend and protect our earned benefits.”

https://www.commondreams.org/news/2020/05/05/outrageous-callous-and-cruel-seniors-rip-trump-holding-covid-19-relief-hostage-push

Once again the GOP is screwing the very people that are most loyal to the party…..and these same old farts will allow them to get away with these attacks every election…..the same old farts that cares nothing for poor people or homeless…..the same old farts that care only about abortions and some religious iconography at Christmas…..

You would think that age would make them (us) more cynical but instead it seems to make them (us) more ignorant.

I Read, I Write, You Know

“lego ergo scribo”

Your Stim Check

This is info for those Social Security recipients like myself…..good news is that your check is in the mail (or will soon be)…..

One of the biggest challenges the Treasury Department has in getting Americans their checks from the $2.2 trillion coronavirus stimulus package is tracking down people who don’t file tax returns. Now, at least one key group of nonfilers will see that process expedited. The official word, delivered from Treasury Secretary Steven Mnuchin in a statement late Wednesday, per NBC News: “We want to ensure that our senior citizens, individuals with disabilities, and low-income Americans receive economic impact payments quickly and without undue burden. Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account.” Those who don’t have direct deposit info on file with the IRS will receive a paper check.

The move is a reversal of the original IRS wording, which noted seniors and those with low incomes would have to file a “simple” tax return to get the money. Americans can expect to receive an amount that starts out at $1,200 per individual and $500 per child; it starts phasing out for anyone who makes $75,000 or more per year and disappears altogether at $99,000 (double that for married couples), per recent tax returns. Meanwhile, NBC notes that people who owe back taxes or who have delinquent student loan payments won’t be penalized and will receive their stimulus payment in full. Who won’t be getting the funds, or at least not the full amount: anyone who owes child support. Mnuchin has said direct deposits will begin showing up on April 17, with paper checks sent in the mail to follow, per the Washington Post. CNN notes the payments won’t be taxed, according to the IRS.

Remember all those sanctimonious d/bags that hate those that look for free stuff from the government….how many do you think will send their free money back because they do not want “free stuff” from the government?

One more thing my wife took a picture of me while I wait for my check…..

Watch This Blog!

I Read, I Write, You Know

“lego ergo scribo”

Biden And Social Security

College of Political Knowledge

I have been told by many people on the blog and in person that if we are to beat Trump then I must fall in behind Biden and get it done.

First of all….Bite Me! Do you know how many years that same thing has been told to me?

I refuse to hold my nose and vote for someone I know is not what this country needs. (About here I should get some BS about not voting for Biden will assure Trump will win….again Bite Me!)

This series will be why I cannot support or vote for Joe Biden…..(that is my decision…I ask NO one to follow suit….I just want to info why I will not give him my vote)

I seem to be one of the few Americans left that will stand by my principles….and so it shall be.

I am going to do a series of post on the issue that I think Biden is lying to the voters about…..I will start with social security.

The most recent Dem debate brought these issues to the spotlight….

Former Vice President Joe Biden told at least five lies during Sunday night’s one-one-one Democratic presidential debate with his last remaining opponent, Vermont Sen. Bernie Sanders. Networks and outlets from CNN to Politico covered the debate as a win for Biden.

Both candidates took fire on their past positions. Sanders hit Biden on Social Security, the 2005 bankruptcy bill, and abortion rights, while the Vermont socialist had to answer for comments on gun rights, foreign policy, and immigration.

Some commentators were left with the feeling that, while Sanders has spent time on the trail discussing his old positions and explaining his evolution, the former vice president has been able to get away with nonanswers that skirt the truth. Here are a few examples.

https://theintercept.com/2020/03/17/biden-fact-check-social-security-bankruptcy/

Biden is an astute politician…he knows how to give non-answers to questions that seem to be an explanation….when in reality he is just flat lying.

But that is just me. You make your own decision…but please base that decision on information not some misguided desire.

Be Smart!

Learn Stuff!

VOTE!

I Read, I Write, You Know

“lego ergo scribo”

Social Security 2100

As an old fart I am always watching to see what measures are proposed then taken by this government that would effect us elderly people.

Social Security has been a battlefield for generations…..the big lie that seems to surface with every election is that SS is going bankrupt…..

Arguably the biggest Social Security lie is the idea that the program will soon be bankrupt and not able to provide a benefit to future retirees. This lie is perpetuated by the latest annual report from the Social Security Board of Trustees, which calls for a major shift come 2022. In four years, the program will begin paying out more in benefits than it’s generating in income for the first time in 40 years. This shift is a result of a growing number of baby boomers entering retirement and thus lowering the worker-to-beneficiary ratio, an increase in longevity over many decades, and growing income inequality that has allowed the rich to live substantially longer (and collect a bigger Social Security check) than lower-income folks.

By 2034, a dozen years later, Social Security’s approximately $3 trillion in asset reserves is expected to be completely exhausted. It’s this excess cash depletion that has 51% of Americans, according to a 2015 Gallup survey, confident that they won’t receive a dime from the program by the time they retire. Thankfully, more than half of all Americans are wrong.

Social Security has three funding mechanisms, and one of those funding sources ensures that the program is incapable of going bankrupt. Social Security’s lesser funding sources are the interest earned on its asset reserves ($88.4 billion in 2016) and the taxation of Social Security benefits ($32.8 billion in 2016).

(The Motley Fool)

Rep. John Larson has put forth a plan to strengthen Social Security…..it is called Social Security 2100 Act…..
Bill Text | Full Press Release | Fact Sheet

For millions of workers, Social Security is all they have to keep them from destitution in old age. Even with Social Security’s guaranteed benefits, they struggle to make ends meet. Fortunately, Congress can easily strengthen retirement security by expanding Social Security. Congressman John Larson (D-CT) has a bill to do just that: The Social Security 2100 Act, which is supported by 90 percent of Democrats in the House of Representatives.

Nearly four in five Americans live paycheck to paycheck. In 2018, the Federal Reserve Board found that four in ten Americans could not afford $400 for an emergency expense. Low wages combined with the high cost of health care, housing and education prevent people from putting aside funds for retirement. The Government Accountability Office reported earlier this year that almost half of households headed by Americans aged 55 and older have no retirement savings.

Equally concerning, most companies no longer offer pensions to their workers—a guaranteed monthly income. Instead, if they are lucky, workers get small financial contributions toward their retirement that do not amount to a whole lot. 401k plans and other so-called “defined contribution” plans do little good if workers are forced to spend their income on basic needs and have no money to save.

https://www.commondreams.org/views/2019/08/13/social-security-2100-path-protecting-americas-elderly-communities

A good plan but as long as Moscow Mitch has a strangle hold on the Senate this will probably go no where.

Read the act over and if you like what you see then let your representative and senators know…..

Be Smart!

Learn Stuff!

VOTE!

“Lego Ergo Scribo”

Expand Social Security

Closing Thought–19Feb19

As a person who has retired and getting Social Security I am always looking at what is going on in DC….I fear they will privatize it and us old farts will be screwed (as usual)……

Bernie has authored a bill to strengthen Social Security…..the Social Security Expansion Act……

Extend the solvency of Social Security for 52 years to the year 2071 by requiring the wealthiest American households to pay their fair share of taxes. Today, because of the earnings cap on Social Security taxes, a CEO making $20 million a year pays the same amount of money into Social Security as someone who makes $132,900 a year. This legislation would lift this cap and subject all income above $250,000 to the Social Security Payroll tax. Under this bill, 98.2 percent of wage earners would not see their taxes go up by one penny; Expand Social Security benefits across-the-board. Under this bill, Social Security retirement benefits for low-income Americans would go up by about $1,300 a year; Increase Cost-Of-Living-Adjustments (COLAs). This bill would more accurately measure the spending patterns for seniors by adopting the Consumer Price Index for the Elderly (CPI-E). Older Americans, by and large, are not going out on spending sprees buying big screen TVs, laptops, or the latest high-tech gadgets. Rather, they spend a disproportionate amount of their income on health care and prescription drugs and that would be reflected in the formula for calculating COLAs under this legislation; Improve the Special Minimum Benefit for Social Security recipients. This bill will help low income workers stay out of poverty by updating the Special Minimum Benefit to make it easier for them to qualify and by increasing and indexing the benefit level so that it is equal to 125 percent of the poverty line; Restore student benefits up to age 22 for children of disabled or deceased workers, if the child is a full-time student in a college or vocational school. This legislation restores student benefits that were eliminated in 1983 to help educate children of deceased or disabled parents;

Combine the Disability Insurance Trust Fund with the Old Age and Survivors Trust fund to help senior citizens and persons with disabilities.

https://www.commondreams.org/news/2019/02/13/ensure-dignity-most-vulnerable-among-us-bernie-sanders-introduces-bill-expand-social

I like his plan….

A final thought……

Just an FYI

Read and learn…..

A closing thought…I am an old fart and I remember……

Turn The Page!

Closing Thought–17Jul17

Don’t Spend All That Money In One Place!

From time to time I try to be an FYI blog as well as an opinion blog with a little education thrown in for good measure……

Since so many of us bloggers are old farts that retired and depend on social security I thought I would pass on the news about the COLA for this year….

Millions of Americans who rely on Social Security can expect to see their biggest pay increase in years in January, per projections released Thursday by the program’s trustees, the AP reports. The increase is projected to be just 2.2%, or about $28 a month for the average recipient. For context, this year Social Security recipients saw an increase of 0.3%, after getting nothing in 2016. Some good news for seniors: The trustees project Medicare Part B premiums will stay unchanged next year. Most beneficiaries pay $134 a month, though retirees with higher incomes pay more. Both Social Security’s cost-of-living adjustment and Medicare Part B premiums will be announced in the fall.

More than 61 million retirees, disabled workers, spouses, and surviving children receive Social Security benefits, with an average monthly payment of $1,253. Medicare provides health insurance to about 58 million people. Unless Congress acts, the trust funds that support Social Security are estimated to run dry in 2034, the same as last year’s projection. Medicare’s trust fund for inpatient care is projected to be depleted in 2029, a year later than last year’s forecast. Over the past decade, Social Security and Medicare made up about 40% of federal spending, excluding interest on the debt; 50 years ago, the figure was 16%. The programs are expanding in part because the US is growing older: In 1960, there were 5.1 workers for each person getting Social Security benefits; today, there are about 2.8 workers for each beneficiary.

Just thought you might like to know…..

TTFN….I will be back tomorrow with more stuff….chuq

Seniors: Bend Over And Grab Your Ankles

A friend of IST over at “Lines by Liming” brought this to my attention….I had missed the info thanx to my day in the barrel at the doctor’s office……

It looks like the seniors of this country will once again get bent over a table…..AGAIN! (Will humiliation ever cease?)

The government says there will be no benefit increase next year for millions of Social Security recipients, disabled veterans, and federal retirees. It’s just the third time in 40 years that payments will remain flat, with all three times occurring since 2010. And there’s more bad news: The lack of a benefit increase means that many older people could face higher Medicare costs, an issue that has advocates lobbying Congress. By law, the annual cost-of-living adjustment (COLA) is based on a government measure of inflation. This inflation gauge—which measures price changes for food, housing, clothing, transportation, energy, medical care, recreation, and education—came out Thursday, and the main reason for no benefits increase next year is low gas prices. As of Wednesday, AAA said the average price of a gallon of regular gasoline was $2.30, about 90 cents less than a year ago.

The announcement will affect benefits for more than 70 million people—more than one-fifth of the nation’s population. Almost 60 million retirees, disabled workers, spouses, and children get Social Security benefits, with an average monthly Social Security payment of $1,224. The COLA also affects those who get Supplemental Security Income, the disability program for the poor. Congress enacted automatic increases for Social Security beneficiaries in 1975, when inflation was high, and since then, increases have averaged 4% a year. But in the past decade, the COLA has been that big only once. “This is going to be another blow to [people’s] retirement income,” says a rep for the Senior Citizens League. “It’s a huge amount over a lifetime.”

Since I am an old fart….this means the day when I am reduced to eating rice and cat food are just a little closer……

I refuse to blame Obama for it all…..I mean this prez that was going to like the this country economically has done a better job than the news reports would have us believe…..(in case you missed that bit of info)…….

The US government’s budget deficit fell to an eight-year low in fiscal 2015, dropping to $439 billion, the Treasury Department announced Thursday.

The cut in the finance gap — which was $1.4 trillion in 2009 — brought the deficit down to 2.5 percent of gross domestic product, the lowest level since 2007

That aside……seniors like veterans always have to pay for the stupidity of the system that “cherishes” them…….

I pray that my granddaughter will have a better government when she has to retire…..sadly if this current political climate continues…..she will be screwed…….and I have no one to thank but the stupidity of the American voter.

Take some time and say a few words for our seniors……

Social Security: A Public Service Message

I try to keep my readers up-to-date on things that I think will effect them…….NOTHING is more important to us seniors than Social Security……

We old farts when the subject of Social Security is mentioned our ears perk up and we take notice…….I mean the GOP has got more ideas how to screw the elderly than I have hairs on my butt.

Unfortunately senior citizens seem to get the worst screwing every election……the really sad part is most of them vote for the very people that bend them over……apparently we are slow learners…….

I read an article that predicted a cut of possibly 19% to Social Security and just had to see where it lead……..

Our annual report on the state of Social Security and Medicare was issued yesterday, and from a 30,000-foot view, the AP sees Social Security’s financial health as having grown no worse in the past year. In fact, the program’s retirement trust fund is projected to be able to pay full benefits through 2034; in last year’s checkup, the prediction was 2033. But for 11 million Americans, there was bad news: Unless the dwindling disability trust fund is replenished in short order, their benefits will automatically be cut 19% late next year. That’s because as of Q4 of 2016, revenues would cover only the remaining 81%, reports the New York Times. What that looks like: Instead of an average $1,017 monthly check, disabled workers would get $824, reports the AP. That’s $9,888 per year; the Times notes that beneficiaries’ average salary before disability was $42,000.

The looming insolvency sets the stage for a potential battle between President Obama and the GOP. The president would like to see a portion of the payroll tax revenue earmarked for the retirement trust fund shifted to the disability one. That adjustment has happened before (in both directions), but only with congressional approval. Congress has indicated it’s unwilling to repeat the move without some changes, such as adjustments to the program to cut down on fraud and help the disabled re-enter the workforce. Program trustees painted the “reallocation” as needed but not a long-term solution. The report also indicated there would not be an annual cost-of-living adjustment at year’s end, though that could change. If it doesn’t come to pass, it’ll be only the third year without one since 1975.

All we can do is keep our chin up and vote for those that will protect what little benefits we seniors receive……

Feel The Bern!