It's the Bush entitlement. "Do as they say, but, not as they do."
June 1, 2015
By Carl Haasen
The following words (click here) were actually spoken last week by Jeb Bush's non-campaign spokesperson: "Governor Bush is actively exploring a run. He has not made a final decision."
Every grownup in America knows this is a lie.
The voters know Jeb has already decided to run for the White House in 2016. Campaign donors know he's running. And the entire busload of other Republican presidential candidates knows he's running.
Two campaign-finance watchdog organizations, the Campaign Legal Center and Democracy 21, want the U.S. Justice Department to investigate the "charade" of Bush's non-campaign. They say it's merely a weasel move that allows him to rake in unlimited, and mostly unregulated, donations.
That's absolutely true. It's an epic weasel move, though probably legal....
Jeb Bush is different than "W" on SSI so far. "W" instituted Medicare Part D and now Jeb wants to make that policy more difficult to achieve by pushing the age for eligibility to 68 or better yet 70.
That is a ridiculous understanding of the American people. We have a generation of people facing poverty wages at the bottom of the American ecosystem while older Americans are being told to wait for retirement.
October 9, 2014
By Larry Copeland
...The average life expectancy (click here) for a person who was 65 years old in 2012 is 19.3 years – 20.5 years for women and 17.9 years for men. The difference in life expectancy at 65 years between males and females increased 0.1 year from 2.5 years in 2011 to 2.6 years in 2012....
Life expectancy should not be the focus for SSI. There are plenty of older Americans that work part time in order to make ends meet. Their loss of income after 2008 was profoundly felt by them first.
The idea SSI is a longevity issue is not the problem. There needs to be an evaluation of the cap on payments into SSI. The payments into SSI is not problem. The current 7.65% on employed Americans is more than sufficient to insure they have a retirement payment from SSI when they reach the age when they leave the workforce.
The 7.65% tax rate (click here) is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Also, as of January 2013, individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the 0.9 percent.
Medicare has no taxable earnings maximum, but, SSI does. The cap/maximum was raised in 2015 to SSI by $1500. The SSI maximum needs to be eliminated and the balances in the entitlement will come into better alignment with the future.
The percentage of taxes for the upper limits is not different than anyone else. This is not a graduated tax. It is a flat percentage of income every year. The SSI tax is equitable for all citizens in the USA. That is reflected also in the amounts of payouts by SSI when Americans retire. The payout is not fixed and is based on the amounts placed into the fund during their working lifetime.
With so many in the USA having a poverty income while trying to raise a family, their retirement amounts already looks dismal with no real way to change it. There are many reasons the minimum wage has to increase; retirement is one of them, too.
In more cases than not when Americans retire and have a new income from SSI, their ability to work is far less than the years they contributed. The idea of raising the retirement age for SSI will only put older Americans in peril they would not face if they retired on schedule.
In many states, and if the Supreme Court decides adversely with the Medicaid extension, there are adults that will still have no real help with their hospital and medical expenses until they finally are allowed on Medicare at the age of retirement. The entire idea of pushing the retirement age back to 68 to 70 years old is outrageous. These are our seniors and should have financial security and medical security in their later years.
Americans should be congratulated in a country that has moved the longevity of Americans further into the future. It is a great accomplishment we should value without victimizing the very people we are proud of in their wellness.
June 1, 2015
By Carl Haasen
The following words (click here) were actually spoken last week by Jeb Bush's non-campaign spokesperson: "Governor Bush is actively exploring a run. He has not made a final decision."
Every grownup in America knows this is a lie.
The voters know Jeb has already decided to run for the White House in 2016. Campaign donors know he's running. And the entire busload of other Republican presidential candidates knows he's running.
Two campaign-finance watchdog organizations, the Campaign Legal Center and Democracy 21, want the U.S. Justice Department to investigate the "charade" of Bush's non-campaign. They say it's merely a weasel move that allows him to rake in unlimited, and mostly unregulated, donations.
That's absolutely true. It's an epic weasel move, though probably legal....
Jeb Bush is different than "W" on SSI so far. "W" instituted Medicare Part D and now Jeb wants to make that policy more difficult to achieve by pushing the age for eligibility to 68 or better yet 70.
That is a ridiculous understanding of the American people. We have a generation of people facing poverty wages at the bottom of the American ecosystem while older Americans are being told to wait for retirement.
October 9, 2014
By Larry Copeland
...The average life expectancy (click here) for a person who was 65 years old in 2012 is 19.3 years – 20.5 years for women and 17.9 years for men. The difference in life expectancy at 65 years between males and females increased 0.1 year from 2.5 years in 2011 to 2.6 years in 2012....
Life expectancy should not be the focus for SSI. There are plenty of older Americans that work part time in order to make ends meet. Their loss of income after 2008 was profoundly felt by them first.
The idea SSI is a longevity issue is not the problem. There needs to be an evaluation of the cap on payments into SSI. The payments into SSI is not problem. The current 7.65% on employed Americans is more than sufficient to insure they have a retirement payment from SSI when they reach the age when they leave the workforce.
The 7.65% tax rate (click here) is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable taxable maximum amount (see below). The Medicare portion (HI) is 1.45% on all earnings. Also, as of January 2013, individuals with earned income of more than $200,000 ($250,000 for married couples filing jointly) pay an additional 0.9 percent in Medicare taxes. The tax rates shown above do not include the 0.9 percent.
Medicare has no taxable earnings maximum, but, SSI does. The cap/maximum was raised in 2015 to SSI by $1500. The SSI maximum needs to be eliminated and the balances in the entitlement will come into better alignment with the future.
The percentage of taxes for the upper limits is not different than anyone else. This is not a graduated tax. It is a flat percentage of income every year. The SSI tax is equitable for all citizens in the USA. That is reflected also in the amounts of payouts by SSI when Americans retire. The payout is not fixed and is based on the amounts placed into the fund during their working lifetime.
With so many in the USA having a poverty income while trying to raise a family, their retirement amounts already looks dismal with no real way to change it. There are many reasons the minimum wage has to increase; retirement is one of them, too.
In more cases than not when Americans retire and have a new income from SSI, their ability to work is far less than the years they contributed. The idea of raising the retirement age for SSI will only put older Americans in peril they would not face if they retired on schedule.
In many states, and if the Supreme Court decides adversely with the Medicaid extension, there are adults that will still have no real help with their hospital and medical expenses until they finally are allowed on Medicare at the age of retirement. The entire idea of pushing the retirement age back to 68 to 70 years old is outrageous. These are our seniors and should have financial security and medical security in their later years.
Americans should be congratulated in a country that has moved the longevity of Americans further into the future. It is a great accomplishment we should value without victimizing the very people we are proud of in their wellness.
