The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AILEEN GERTRUDE TIPPY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
In my opinion, it isn't just a case of how many people are contributing now, compared to how many people are receiving social security now. It's a case of how many people, and how many dollars, were put into the system prior to the person who is starting to collect social security. When it comes to social security numbers, they one thing that they always leave out is the number of people that died before they reached the age to collect social security. The biggest problem with social security is that our own government has been siphoning money out of the system for all sorts or other expenses, like sending money to other countries and funding ridiculous programs here in the US, that the American citizens would never approve if they knew what the money was really going to fund. The social security program wouldn't need any increases at all if the government would just put back the money that they stole from the American people..
But the government can find plenty of money to give the young that won't work but know how to have plenty of illegit babies. It's kind of like encouraging open borders with a handout.
@Dan LaCross ..HEAR !! HEAR!! YOU HIT THE NAIL ON THE HEAD .."THEIR" crimes of Robbing n Stealing have nothing to do with it ..I know that they're trying to depop the world and we don't know the real numbers of people that go missing (most in areas of national parks ) and all the pictures on walls of businesses of more missing...anyways, I digress.. we are going to go through Alotta dire times ahead ,drastic changes .. so , we'll see ..sorry for rambling..🙏☮️
if they cut it i think you will see a lot of the assholes who agreed to cut it out of a job ..if the elderly just sit there doing nuthing watching crap on tv shame on them
if the government cuts social security your gonna see those elderly at the capitol and itll make jan 6th look like the tour the innsurrectionist republicans say it was! i myself will be at home! because thats not how to affect change! ill just vote! i agree they count on it! i do!
Nancy that is the American way. We have lots of money so lets let this happen. Think of two or four million that have come here since Biden is president. They will benefit and our social security trust will be used to pay these bastards out of money we have put into the trust.
Then we have all these X- cons out of Prison who knows what crimes they've committed and apply then get S.S. for the Rest of their lives ,what is that a Reward for their crimes wow
Instead of canceling student debt, money should be put in as. I paid into the program, didn't have a choice, now the money I pd in won't be there to help me in my greatest time if need
Paying student loans only benefits the universities and colleges why...because they will give lump sums of money back to the political candidates. It is not about helping the students.
Some 50 years of The SS Account ALSO has all of the money forcibly "Contributed" by workers that never survived to collect back any pay or benefits... or paid in for 30+ years, and died within just a few months or a few years after receiving benefits... People who paid IN far More than they were ever paid in 'benefits"... Probably 2/3 of my own School Mates have passed away before reaching 70 ... Some 45 to 50+ years of "contributions" with little or no benefits received.
I think if its good enough for the average citizen to pay into the SS system, it ought to be good enough for politicians. It ridiculous for them their own retirement system.
It’s long past time to raise the ceiling on income subject to SS tax. Cutting benefits should be off the table. Our seniors are already vulnerable, given the cost of healthcare, medicine, inflation, and living generally.
@@annebentley7578 Yes, nobody is unaware of that. SS is more of an insurance policy than a savings account, however. Everyone needs to have insurance or else those who have it would end up paying for those who don’t. Everyone also needs to know they have a safety net in case they become disabled, which can happen to any of us at any time. SS is a great program!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
The answer is not "Raise taxes" as politicians always use for a solution. It should instead be, to stop pissing our money away on useless programs and welfare to other countries so they will continue to support our corrupt fiat monetary system. Of the cost incurred to support Biden's Ukraine war, it's calculated that less than 30% is used for the intended purposes. The majority ends up as cash in the hands of Ukraine's highest level elites. To me, that's an exceedingly high cost for US taxpayers and other citizens of the world to e paying so Ukraine, will keep a lid on The Biden family's corruption in The Ukraine.
This is why I told my advisor to not plan for SS. I don't want to depend on that money being there. This is criminal. If they can't give us the benefit, then stop taking it out of my paycheck.
Nobody receives "Social Security Retirement Benefits" unless they have paid into the system for a minimum of 10 years. Other government spending may be going to some people that have not paid into SS but those are not SS retirement benefits. Thank you for your comment!
@@beautyRest1 Social Security retirement benefits are ONLY available to people that have paid the FICA taxes for a minimum of 10 years. People that did not work and did not and pay the taxes do not qualify for retirment benefits. There are no exceptions. There may be other types of benefits someone can qualify for but not SS retirement beneits.
If they cut social Security then the government needs to stop giving themselves big pay raises.They need to stop sending money to foreign countries and take care of their tax paying citizens.
I agree! Worked my whole life , from the time I was 16 .Paid into the fund while working a full-time job and 2 part-time jobs. Now they want to cut my payments by 25 % ? Way to manage the fund that many of us rely on.
Quit taking our money. We paid in to it and when we need it, the crooked gov. has already helped them selves to our retirement. Karma is payback, let them reap what they sow. " The greedy ones". God is watching.....
Done stole our money owed to us,now they say that ,theyer giving us stimulus like we on welfare & beggin like bumsb on the street...WoW! So sad,pray for them crooks.Robinhood done robbed the hood.
I think they should both go to prison and have all their assets taken to pay back into the SS coffers. 50 years ago my father told me that the math didn't work out, that at some point they wouldn't have enough to pay out SS from the people they took it from. He thought it might even happen in his lifetime. They have managed to float it along until now, It's happening in my lifetime.
I’m 82 years old and my husband has passed but from a small pension I get from his retirement and social security I end up paying income tax of over $1000.00 plus for income tax. I think at a certain age you should not have to pay taxes what do you think?
Hello Lane, I ALREADY SAW A DRAMATIC CHANGE!!! I received a letter from the SSA stating that THEY made a mistake and that I would owe them $3,500 with no other comment or explanation. So I sent a letter to the SSA in Birmingham (AL) with a request for an explanation. The “answer” was “SSA will pay $0.00 of SSA benefits until March 2023 with no other comment or explanation. The teller at the local SSA responded with “It’s all your fault. It’s in the computer”. Asking “Why” and “What went wrong” was answered with “I don’t know”. I feel like legally “RAPED” since the SSA “IS ABOVE THE LAW” and can come up with ANY CLAIM at ANY TIME claiming ANY AMOUNT with NO EXPLANATION and I will NEVER see any SSA benefits for what I paid 25 years every month. PLEASE ADVISE. THANKS.
It sounds like you are experiencing the earnings limit penalty. You are penalized in this way when you have earned income above $19,560. I'm guessing that you started benefits before your full retirement age and you are still working, is that correct?
Maybe one of the new 80,000 plus agents could figure this for you I'm sure it would be no problem. I'm sure because the tax code is not very complicated on cold they can have these people up and running faster than Putin can raise his army back. No problem for BIG government.
My father worked all his life for IBM and was a WW2 vet and died the yr he started to collect. How many more have died like this and where is that money.
That's the scam part. The money he paid in is swallowed up by government. In a private pension system that money in the account has to be paid out to heirs or spouse. But with SS they get to keep the money.
Employers should be made to pay 6.5% taxes into social security for non citizens working for them . Employers are getting labor on the cheap and are able to not have to pay to help social security.
Why should employers be made to pay 6.5% taxes into social security for non citizens? Green card holder contribute into the system and get get benefits from the system, only if they live in the US. US Citizens can receive benefits regardless of where they live in the world. Any other people working in the US are required to put into the system, but cannot receive benefits. All the stats quoted should have been know by the politicians for decades.... they keep talking about social security reform ... but nothing gets done. You are also taxed on your benefits (upto 85%) of anything over certain thresholds, which I think is wrong. However it is what it is. and ain't going to change.
Your best chance for keeping your social security is to vote Democrat because Republicans are talking about wiping it out all together and the never talk about you not having to pay into it even if it is wiped put.
Well if the federal government would spent the money it takes in properly, And not spend it on perks, other countries and the overall massive waste. Their would be enough money to help all Americans.
That’s what I mean they always have money for wars but not for there people we work for years 60 years so they can tell us that there going to cut are soc sec checks ridiculous
You don't understand how it works apparently. It's a pay-as-you-go system. People working now are paying for people receiving SS. When you start taking SS, other working people will be paying yours.
When I was around 12 years old, I noticed that my father's Social Security Check was green and on the top of the check it said PAYABLE TO THE BANK OF LOUNDON. Hmmmmmm, I asked my father why it said this, and he told me that Americans Social Security money first went to the Queen of England who took her cut out of it then she sent what was left to the POPE who took his cut then a small amount was sent back to America to be handed out to us citizens. England set this up because we went thru two wars with the Crown but were broke and England knew it so they told America they would keep waring with us until they won. We agreed to this scam by the queen to keep England away from us. Our checks would be $5,000 if it wasn't for the Royal Family stealing from us right now.
You neglected to say that the ss fund added a huge # of disabled people, rather than keeping them within the SSD fund, as I understand it...Years ago, millions of 'drug addicts' were able to claim government subsidies under the SS fund...so, it just depleted the resources that were meant for retired workers...I'm sure others have dipped into the fund as well...So...that is my understanding of how the SS topic has been on the agenda for decades.
Our wonderful gov. has allowed the drugs to be let in to help keep people enabled, but gov. Gets their kickback, as long as gov gets their money, why would care & how about the homeless, another shocker. I can't believe how shameless they are. Discussed citizens... ....
@@marjorieharrington2513 I can say one thing....personal responsibility....I'm not a drug addict, derelict, homeless, or unemployed person.... I don't want to pay for drug addicts or lazy, stupid people....I'm ok with paying for 10% of the 'real' needy people, with mental illnesses such as schizophrenics, and psychotics, etc...they are victims of brain chemistry and genes. I blame the ACLU for all of the mentally ill that are living on the streets....after winning a case for the 'rights' of the mentally ill not to be housed in facilities or take medication to help deal with their mental illness ....this resulted in the closure of about 90% of mental health facilities and left those people out on the streets to deal with life's struggles. Drug addicts...don't care about them...let them eat dirt. BTW...I agree with you about the government colluding with Mexican drug cartels...just look what Obama and his gang did while they had the reins of government. They're all multi-millionaires...drug payouts, payola for favors...now it's the fake president that is in the position to make millions more...Trump was cleaning the swamp until the corrupt demo-crats installed voting machines that could be manipulated....given a brain-damaged Biden the position. No one in their right mind believes that Biden beat Trump with 81 million votes.
Let's start with the obvious and cut out the life time pension for Congressional politicians. They have sat on their hands and ignored the SS crisis for fear of hurting Their careers. Did you know a single term (2 yrs) in the House can get you a lifetime pension of your full six figure salary? Did you know SS wasn't taxed until the 1960's? The fact is that Congress, "borrowed" $2.9 trillion from Social Security.
What about that so called excess that the govment" transfered" to the general fund back in the late sixties and seventies? How bout they reimburse that money and quit dipping into it to line their own pockets...I for one have contributed since I was 12/13 years old. Living as a hired hand on different dairy farms. Now they want me to give up part of my retirement because they got greedy and stole to much. I say nay nay!
Can you tell us SS seniors that the SS had been spending billions of our money which we put into the SS Fund every month faithfilly, so we'd have it when we retired? I read an article where SS was paying out billions for trafficked children and also paying $1500 to the CPS( Child Protection Services)!!! Let us see video of what and who got the billions for the trafficked kids....using OUR money we put into the SS Fund , and then telling us that there will be a 25 percent reduction in our monthly funds! Since when does any org. in govt have the right to raid our SS Fund and not ask for our permission? And yet, our COLAs are so small that we are really hurting with everything being so high in prices that our COLA can barely cover our grocery bill in one shopping trip! Come out and tell us the real truth about why we are getting such low COLAs but the SS can spend billions for trafficked kids. and then pay the CPS members (?) $1500 for each child...is that supposed to mean the CPS workers are also trafficking children too?? How true this article is, I don't know, but we deserve to know the truth...it is our money taken without our permission....what does that spell......theft! We should be living in luxury in our retirement today with the billions in the fund! Tell us the truth!!!
Aside from all the comments here, Social Security was never intended to be an open checkbook for the government. That money belongs to the people of this country, not the criminals in office.
@@SandfordSmythe After reading the act itself I am to understand that they took half of the social security paid in to create a Federal bond fund to enrich the Treasury? I've never heard that and most information online was what we read in school. That portion was omitted in the textbooks.
@@SJMatta They took the surplus - the money not paid to beneficiaries. I don't know where you got that half figure from. There is no SS Fund in the Treasury, and it becomes cash that is all mixed up with everything else. The SS Fund is in the certificates held by SS. What did you think happened to the cash that was paid in? It needed to be invested and the banks and Wall St were not good places.
There have also been changes that give SS benefits to many who haven't contributed or have contributed for so short a time as to strain the system. And how many illegals are being paid by CASH in this country today who are NOT paying into the system but will soon start collecting benefits? Several million.
First, take the last Trillion the Biden Administration printed for the green new deal and put it in the SS trust fund. 2nd, start taking at least a billion dollars of the trust fund per month and put it into the S&P 500 for the foreseeable future. The markets will rise helping all Americans and we will never have a SS shortage again. SS will not be there if we continue to let politicians manage our money.
Social Security has been raided by many new benefit programs since it's beginning. All with good intentions. But the program was not meant to cover all those needs. That said, one way to extend the drop dead date of the program, would be to require 'means testing'. I know that scares many people. But the people that this would effect, are those with multiple pension incomes and truly wealth people who are needlessly taking money they don't need.
My wife and I were in business for 17 yrs. We not only paid in as most we also matched that rate as an employer. So we paid double as most business owners do. Your employer is required to match yours also.. As an employer we matched those hired and we paid in our own as well as matched our own. It’s just part of it and we are not complaining about our responsibility! Only unhappy for anyone losing out and we are not happy for ourselves as we know A LARGE PART OF THAT LOSS FOR ALL OF US do to mishandling in a way much worse than will ever be told! It started long ago. Yes I hear the numbers quoted all the time. Yes we understand the math! Or do we? This was planned carefully before the inception as well as the obvious fact that adjustments would be needed in the future! It was also understood that many would come as life progressed! If it is as simple as we are told then you must take responsibility for calling out the simple stupidity of those elected officials that implemented this many years before. Maybe we could go on knowing or appreciating how stupid we must be, as well as the implication of our government leaders stupidity back in the day. We are to believe some how that in the same amount of years only few advanced or EVOLVED to this place of utmost intelligence! DNA?
Maybe if we quit sending billions (trillions???) to other countries or paying off student loans for people who pledged to payback the loans when they took them, then we could fund social security as promised to us for working and paying into it ALL OUR LIVES -- 50+ years for some of us! I AM SERIOUSLY UPSET WITH THE WAY THIS COUNTRY IS TREATING US! This is just one more way to kill us off without firing a gun!!!!!
How about the gov't stop giving away milions/billions to other nations and fund SS...my baby girl will be short changed after working like a dog her whole life. MAKES ME MAD.
The government should just remove the Soc Sec Tax, income limit. Let people making $300-$400k a year pay SS and Medicare taxes on ALL OF THEIR INCOME. Then add a separate Soc Sec, and Healthcare tax to any corporation that makes over $100 million a year. With more than 500 employees. Must have both. A tax of Just 3% will work. 👍🏾
I'm glad that you touched on raising the taxable income to support increased SS liabilities. It's one thing you never hear much about, only "cutting" benefits. Those affected by a tax raise, not the tax rate, but the maximum income taxed, would feel a little pain yes, but not like raising the rate on lower middle and working class taxpayers. This problem has been kicked down the road for decades, as this video suggests, and now is the time to finally right the ship.
There shouldn't be a cap on individual contributions. If the rich can receive SSI payment, they should be paying in at least as high a percent of the finances which they gain in the year (regardless of the source, "income" or not, taxable or not), as someone earning an income of $50,000.00 a year.
and congress continues to dip into the Social Security trust fund. Shame on you for what you are doing to the American Retirees. Keep your hands off of our retiremennt.
His chart is a little skewed. He left out the fact, in 2020 through 2022 this Whole country was locked down due to COVID-19 with many ppl not working/ paying taxes. Very little was being paid into Social security with much paid out, causing rapid depletion of funds.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
When a spouse passes the other spouse can draw either his or her benefits, whichever is higher. If there is no other spouse, well, who knows where it goes.
thank you for sharing your post today, I find it both important and enlightening to listen to. it helps me to prepare for the future to come for real. keep up the good work ok
@@DavianSinnerYes, some pensions do have cost of living adjustments, and some don't, most importantly do they keep pace with inflation that is driven by political policy?
dont listen to this because the republicans have been moaning about soc sec since 1935! they will at the very last minute raise the cap on it and you too will get it!
the real reason SS income is suffering is that the coffers were raided and never paid back... and now our gov't feels the SS income is an 'income stream' instead of saving it for retirees. Check history the Soc Security funds were raided !
Where can I look this up? The SS web site says something different, but they are probably part of the conspiracy Come to think of it, everyone seems to be part of the conspiracy and keeping the truth from us.
Why does the tax end at just shy of 100k when those at this level can most afford it? I'm a conservative but I am incredulous as to how this fix could have a major upside. The iou's in this fund from the government treasury are worthless as the current pretend administration.
Maybe it wouldn’t go broke if Congress wasn’t giving everybody’s spouse that didn’t work , half the amount of the spouse. Only the ones working that paid in should be drawing it.
Renegade, not always. I was born with a disability, birth defect, and though I did try working when younger, it did not work out well for me and I got back on SSDI... I had my son when I was 32, and he is now 11. He only gets $26 a month for having a disabled parent, to add to my $870. He absolutely does not get hardly a fraction of what I get, and we get no child support from the deadbeat dad either. I have heard of others who get a lot more than my son does, but for some reason SS told me that even if I had another kid (which I will not) that I would get no more money for that kid and the $26 is all my son will ever get. I have no idea how other minors with a disabled parent get so much more, but I know it's true that they do.
What about the hundreds of millions being spent to take care of millions of people who are in the country illegally? How about the billions already sent to Ukraine?
It is wrong all those that paid in for all those years to have to take a cut. We should continue to get our SS as we always did and those that came after have time to figure out how to change their eventual problem. Those Congress people that served during this time should have all their SS and other government income taken away because of their terrible job of managing SS.
I remember (during the Clinton administration) seeing ads in magazines showing a man carrying a gas can and walking along a highway, with the caption, "Social Security: It won't run out."
He is so calmly stating such good news for seniors. So, I agree with some other comments, the government needs to stop taking funds out of SS for their general fund for their stupid pet projects, raise the SS taxes on over a certain earnings if necessary since our government can't seem to financially run the country. This is almost a scare factor to keep us feeling so unstable it only made me distrust these videos.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Most of the people in government today are crooks, haven't you noticed? And have you noticed just how many have been "bought and paid for" by crooks to do they dirty work through the government and have "excuses" to explain to we the people "why we are having trouble" with our money today?? All a bunch of crooks.....and notice how "rich" they are!!! They all belong in prison! We all need to stop being meek and mild and come out fighting and tell our government we have had enough of their lies, that we worked our buns off for years and paid our dues and we aim to collect what is rightfully our money. Otherwise, we were just slaves so others could take what we earned, for their own spending! That's what it looks to me....what are your thoughts? I, too, paid into SS since I was 16 yrs. old, too young to understand what retirement was all about back then, and I am now 84. But the bottom line is, we have crooks in all levels of our government who dipped into our hard-earned money, telling us today we may have a "25 percent reduction" in our next COLA. They had better start calling in All the debts owed to SS from the many entities out there! House Speaker Pelosi mentioned that they had to borrow $2 Billion from the SS Fund to pay for the 1st Impeachment of Pres. Trump, only to find out they had nothing on him.....money wasted!! Did they repay that money......probably not. It's wreckless spending and they probably don't care as they think we would not notice! I'm almost sure Pelosi isn't the only politician who dipped their fingers into our SS Fund!
Thank you for breaking it all up...what you're saying will all make sense if everyone will work together and use their brains. I agree about Medicare probably having more problems in the future. All I can say about me is that I claimed soc. sec. early at 62 and so glad I did!!!!!👍
this is the answer. raise cap to $1,000,000 per year on social security taxes. raise taxes on those that make over $100,000 per year. at same time get the bums off welfare and medicaid. stop people coming into our country and we support them. these are the ways to fix our system !
Higher tax threshold (or remove it altogether), age of eligibility changes and perhaps lower the maximum monthly payments. They should all be considered to stabilize SS. Perhaps you can address the truth/fiction behind those that believe the real problem started when Gov't started borrowing money from the SS fund? Thanks!
And who are you to claim this BS?? Of course it's because the money was stolen with the intent of never paying it back by our trustworthy politicians!!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
What the hell's the matter with you?? If the politicians would pay theur SSI loans back, SS would be fine. I thought it was the law that they had to pay back all of this barrowed money. I don't see anybody stepping forward. Like usual we the ppl are now psying for it BIG TIME. This bull shit needs to friggin stop an d the government needs to pay it back NOW.
How many immigrants are receiving great benefits, without ever having contributed! Healthcare and money. I worked all my life. Have paid into system. Struggling in my old age and living month to month. Cant afford car....insurance to expensive for me. I feel the older Americans who did everything right.....are getting ahafted.
There are lot of the people making millions who pay very little or no taxes. President Biden is planning to hire more IRS employees. 30,000 IRS employees will be retiring and the plan is to have more IRS employees going after the 1% making $175,000 or more to pay their taxes. The average folks will not have to pay more taxes. Bernie Sanders is working on a plan with Lindsey Graham to come up with a plan. It's Ron Johnson and other Republicans who have been trying to remove our SS every 4 years. It's the Democrats who have worked to save it.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
What I was taught in high school was that the IRS finances was used to pay down the national debt and property taxes was what the government used to spend on government infostructure including Medicare government pensions etc
I watched this whole video to find out what changes were coming and at the end he says He Doesn’t Know. I feel like part of my life was just wasted lol
A 25% reduction is the equivalent of no cost of living adjustment for 3 or 4 years. howerver in 13 years we could have 25% inflation and we would just forgo the "cola" for that year. Another factor is people are dying for "cause unknown " and "sads" , sudden adult death syndrome. They are dying at a a 40% increase above the "baseline" . As this continues the 2034 date will be moved outward further and further.
Both could of been shored up by many ways long ago. Remove the caps so everyone pays at 100 percent of their income, use the money on the GW wars into the program rather war of desire. The longer they waited they knew the more the pain that fix.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Give the money to who paid into it. What are you giving money out to people who never paid into it! You people in government can play with our money in any way ! Make as many excuses you can!
@@FinancialFastLane It looks all one-sided without more than one set of numbers! YOU, know the number BUT we, DON`T! Why? It`s like saying "there are many people living in wherever land!" I like your posts BUT this one is TOO suspicious for lay people like myself! I guess I`ll have to ask my own yearly Taxman, he knows EVERYTHING! lol PS I really meant "left out" on YOUR report.
They pay the tax up to a $147k limit because the monthly benefit amount is capped. If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Social Security has been a blessing for my wife and me. However, we prepared well for living off our SS benefits. At the time of retirement our home was paid for, our bills were, and are, few. We live quite well, have traveled a lot, have kept our health in check. Thank you Social Security, you have made our retirement enjoyable and livable.
Politicians have been taking from SS for years, not just Biden. Biden is working on taxing the higher income folks who have not paid their taxes for years due to loopholes.
If you take 25% of my Social Security, you are basically stealing money from me, as l had no say in what your planning to do. I was never ask, l didn't vote for this deduction, there's got to be a way we can get our money back!😠
Hi sir I have a question. I’m resaving Veteran pension from may Husband so do you advise me if I can get also a pension from SSS as a surviving spouse? Waiting your advice thank you
I know many friends that died before they were 65. Where did the money go. If the average life span is 85 then 50% of the population died before 85. I had saved several hundred thousand dollars in 401k’s. But the plans put the money in the stock market. Well since the democrats took hold of the government its lost 25% and I can’t really take any out or I lose vast sums. Maybe the answer is to put the money in something that doesn’t lose, gold, precious metals, defense contractors. Not equities.
The thought of retirement makes me cry. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you weren't to blame for.it's especially difficult for people who are retired.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AILEEN GERTRUDE TIPPY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
In my opinion, it isn't just a case of how many people are contributing now, compared to how many people are receiving social security now. It's a case of how many people, and how many dollars, were put into the system prior to the person who is starting to collect social security. When it comes to social security numbers, they one thing that they always leave out is the number of people that died before they reached the age to collect social security. The biggest problem with social security is that our own government has been siphoning money out of the system for all sorts or other expenses, like sending money to other countries and funding ridiculous programs here in the US, that the American citizens would never approve if they knew what the money was really going to fund. The social security program wouldn't need any increases at all if the government would just put back the money that they stole from the American people..
But the government can find plenty of money to give the young that won't work but know how to have plenty of illegit babies. It's kind of like encouraging
open borders with a handout.
Yes you are so right... isn't that a crime called"imbezelment" Should they all go to prison for it.
@Dan LaCross ..HEAR !! HEAR!! YOU HIT THE NAIL ON THE HEAD .."THEIR" crimes of Robbing n Stealing have nothing to do with it ..I know that they're trying to depop the world and we don't know the real numbers of people that go missing (most in areas of national parks ) and all the pictures on walls of businesses of more missing...anyways, I digress.. we are going to go through Alotta dire times ahead ,drastic changes .. so , we'll see ..sorry for rambling..🙏☮️
Amen
That's what I been saying for years there is no shortfall...if they put the money back they took we would not have this problem.
If the government cuts social security you will see a lot of elderly on the streets. Some individuals count on social security to just survive.
They already are in the Streets
I am one of the elderly who need s.s. to survive & I am very concerned. John.
if they cut it i think you will see a lot of the assholes who agreed to cut it out of a job ..if the elderly just sit there doing nuthing watching crap on tv shame on them
if the government cuts social security your gonna see those elderly at the capitol and itll make jan 6th look like the tour the innsurrectionist republicans say it was! i myself will be at home! because thats not how to affect change! ill just vote! i agree they count on it! i do!
You will find them dead not just homeless..and its so not fair they worked they deserve it
Stop giving it to people who never paid into it. Bunch of crooks!
Nancy that is the American way. We have lots of money so lets let this happen. Think of two or four million that have come here since Biden is president. They will benefit and our social security trust will be used to pay these bastards out of money we have put into the trust.
People bring their parents here from other countries, and as soon as they get here put them on social security.
@@gordonhennefer5074 Yes! I worked with a guy from Pakistan who bragged that he just brought his mom over and she was already receiving ss!!!
crooks alright!!!
Then we have all these X- cons out of Prison who knows what crimes they've committed and apply then get S.S. for the Rest of their lives ,what is that a Reward for their crimes wow
If the government had to have the fiscal responsibility they expect of all US citizens, things would be vastly different.
There you go David, the magical word - "IF".
Instead of canceling student debt, money should be put in as. I paid into the program, didn't have a choice, now the money I pd in won't be there to help me in my greatest time if need
I think those who paid in for years should not be penalized for less people working now.
Thank you so much Deborah well said and much needed to be said. God 🙌 bless
They’re pandering for votes.
Paying student loans only benefits the universities and colleges why...because they will give lump sums of money back to the political candidates. It is not about helping the students.
Maybe they should put money back in that they took out! Instead of sending billions to other countries!
Some 50 years of The SS Account ALSO has all of the money forcibly "Contributed" by workers that never survived to collect back any pay or benefits... or paid in for 30+ years, and died within just a few months or a few years after receiving benefits... People who paid IN far More than they were ever paid in 'benefits"... Probably 2/3 of my own School Mates have passed away before reaching 70 ... Some 45 to 50+ years of "contributions" with little or no benefits received.
My mother and father in law died at 62. Got nothing.
I think if its good enough for the average citizen to pay into the SS system, it ought to be good enough for politicians. It ridiculous for them their own retirement system.
All federal employees pay into SS. Since 1986.
Remember Joe saying ( pay your fair share ) guess that was everyone but HIM or HUNTER !
It’s long past time to raise the ceiling on income subject to SS tax. Cutting benefits should be off the table. Our seniors are already vulnerable, given the cost of healthcare, medicine, inflation, and living generally.
That’s our money!!!! We are simply paid what we put in
@@annebentley7578 Yes, nobody is unaware of that. SS is more of an insurance policy than a savings account, however. Everyone needs to have insurance or else those who have it would end up paying for those who don’t. Everyone also needs to know they have a safety net in case they become disabled, which can happen to any of us at any time. SS is a great program!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
The answer is not "Raise taxes" as politicians always use for a solution. It should instead be, to stop pissing our money away on useless programs and welfare to other countries so they will continue to support our corrupt fiat monetary system.
Of the cost incurred to support Biden's Ukraine war, it's calculated that less than 30% is used for the intended purposes. The majority ends up as cash in the hands of Ukraine's highest level elites. To me, that's an exceedingly high cost for US taxpayers and other citizens of the world to e paying so Ukraine, will keep a lid on The Biden family's corruption in The Ukraine.
CUT MULTI billion DOLLAR PROFITS
I bet if our “representatives” in Washington had the same health care and benefits things would be different.
A lot are on ACA, their Spouses insurance, or get their own
Absolutely!
This is why I told my advisor to not plan for SS. I don't want to depend on that money being there. This is criminal. If they can't give us the benefit, then stop taking it out of my paycheck.
if they would stop giving social security to people that didn't put money in we wouldn't be in this position!
Nobody receives "Social Security Retirement Benefits" unless they have paid into the system for a minimum of 10 years. Other government spending may be going to some people that have not paid into SS but those are not SS retirement benefits. Thank you for your comment!
That would pertain to SSI recipients
Thank you for this information. You have helped me very much
How do you receive SS if you didn’t pay in? I would like to know!
@@beautyRest1 Social Security retirement benefits are ONLY available to people that have paid the FICA taxes for a minimum of 10 years. People that did not work and did not and pay the taxes do not qualify for retirment benefits. There are no exceptions. There may be other types of benefits someone can qualify for but not SS retirement beneits.
If they cut social Security then the government needs to stop giving themselves big pay raises.They need to stop sending money to foreign countries and take care of their tax paying citizens.
SS cuts itself. Workers don't want to pay any more taxes.
ABSOLUTELY WHO REALLY WANTS TO HELP THOSE ukranian women and children putin is bombing thats their problem right!
But we must send billions to Ukraine....even though I worked 50 years into SS
Why is Biden giving billions to Ukraine and le u
We always have trillions for war and it's not even on this continent.
Ok Boomer.
I agree! Worked my whole life , from the time I was 16 .Paid into the fund while working a full-time job and 2 part-time jobs. Now they want to cut my payments by 25 % ? Way to manage the fund that many of us rely on.
SS is a separate fund.
If the government pays back what they have stolen from the account there is NO problems ! 💁🙏😘🇺🇸 !
They wrote IOUs never intending to replenish it.
That is the true meaning of stealing !💁👍
Quit taking our money. We paid in to it and when we need it, the crooked gov. has already helped them selves to our retirement. Karma is payback, let them reap what they sow. " The greedy ones". God is watching.....
absolutely
Done stole our money owed to us,now they say that ,theyer giving us stimulus like we on welfare & beggin like bumsb on the street...WoW! So sad,pray for them crooks.Robinhood done robbed the hood.
Crooked politicans stole money from Social Security and they should be made to put the money back or go to prison for stealing.
stop the steal
Go after the high income people who do not pay taxes thru loopholes.
Like Pelosi and Shumer
I COMPLETELY agree, Steve! John.
I think they should both go to prison and have all their assets taken to pay back into the SS coffers. 50 years ago my father told me that the math didn't work out, that at some point they wouldn't have enough to pay out SS from the people they took it from. He thought it might even happen in his lifetime. They have managed to float it along until now, It's happening in my lifetime.
I’m 82 years old and my husband has passed but from a small pension I get from his retirement and social security I end up paying income tax of over $1000.00 plus for income tax. I think at a certain age you should not have to pay taxes what do you think?
I agree.
What State are you in?
NOPE.
the democrats have introduced a bill saying exactly that! st ronnie STARTED taxing social security!
Oh mam, That makes to much sense.
I understand the situation. But losing about 300.00 a month considering how I struggle now I'll have to look at Bankruptcy as an unwanted option.
Hello Lane, I ALREADY SAW A DRAMATIC CHANGE!!! I received a letter from the SSA stating that THEY made a mistake and that I would owe them $3,500 with no other comment or explanation. So I sent a letter to the SSA in Birmingham (AL) with a request for an explanation. The “answer” was “SSA will pay $0.00 of SSA benefits until March 2023 with no other comment or explanation. The teller at the local SSA responded with “It’s all your fault. It’s in the computer”. Asking “Why” and “What went wrong” was answered with “I don’t know”. I feel like legally “RAPED” since the SSA “IS ABOVE THE LAW” and can come up with ANY CLAIM at ANY TIME claiming ANY AMOUNT with NO EXPLANATION and I will NEVER see any SSA benefits for what I paid 25 years every month. PLEASE ADVISE. THANKS.
It sounds like you are experiencing the earnings limit penalty. You are penalized in this way when you have earned income above $19,560. I'm guessing that you started benefits before your full retirement age and you are still working, is that correct?
Maybe one of the new 80,000 plus agents could figure this for you I'm sure it would be no problem. I'm sure because the tax code is not very complicated on cold they can have these people up and running faster than Putin can raise his army back. No problem for BIG government.
Sounds like you're leaving out some details of the full context of the letter received from SSA
@@FinancialFastLane If one retires at age 62 and draws from a 401K...is that draw considered part of the wage factor of $19,560?
@@loish.7923 No, Only W2 income or net business income.
If social security gets a 25!percent reduction in our payments we will be no better than a 3rd world country in fact not as good.! Leave us alone.!
Heck lets give all the countries in the world our money. It is so un belivable we have idiots running the country.
After Biden it ain't worth much now.
Other talking heads say fee getting an 11% INCREASE attributed to an increase in COLA.
My father worked all his life for IBM and was a WW2 vet and died the yr he started to collect. How many more have died like this and where is that money.
Ditto, my father as well
That's the scam part. The money he paid in is swallowed up by government. In a private pension system that money in the account has to be paid out to heirs or spouse. But with SS they get to keep the money.
Employers should be made to pay 6.5% taxes into social security for non citizens working for them . Employers are getting labor on the cheap and are able to not have to pay to help social security.
Why should employers be made to pay 6.5% taxes into social security for non citizens? Green card holder contribute into the system and get get benefits from the system, only if they live in the US. US Citizens can receive benefits regardless of where they live in the world. Any other people working in the US are required to put into the system, but cannot receive benefits. All the stats quoted should have been know by the politicians for decades.... they keep talking about social security reform ... but nothing gets done. You are also taxed on your benefits (upto 85%) of anything over certain thresholds, which I think is wrong. However it is what it is. and ain't going to change.
Non-citizen employees pay into SS.
Your best chance for keeping your social security is to vote Democrat because Republicans are talking about wiping it out all together and the never talk about you not having to pay into it even if it is wiped put.
Non citizens should never receive SS
They do. It's called employment tax. And it's 7.75%.
The government needs to pay back what they have took and put our citizens before other countries
Where is the count of our American citizens that never made it to retirement?
May they rest in peace 🙏
My grandfather was one of those who paid in and died before he ever collected one penny!!!
My mother and Father in law both died at 62.
@@arielsea9087 sad
@@rannyhammond8138
May they rest in the Arms of our Heavenly Father 🙏
Most having already paid in to this exacted numbers accounting system. So how did it get out of kilter?
Well if the federal government would spent the money it takes in properly,
And not spend it on perks, other countries and the overall massive waste.
Their would be enough money to help all Americans.
Israel alone gets billions a month of our taxes. That alone could support Social Security indefinitely.
They should have saved all the money we payed in an account we payed but the gov spent it already
But there are billions for Ukraine.
That’s what I mean they always have money for wars but not for there people we work for years 60 years so they can tell us that there going to cut are soc sec checks ridiculous
You don't understand how it works apparently. It's a pay-as-you-go system. People working now are paying for people receiving SS. When you start taking SS, other working people will be paying yours.
When I was around 12 years old, I noticed that my father's Social Security Check was green and on the top of the check it said PAYABLE TO THE BANK OF LOUNDON. Hmmmmmm, I asked my father why it said this, and he told me that Americans Social Security money first went to the Queen of England who took her cut out of it then she sent what was left to the POPE who took his cut then a small amount was sent back to America to be handed out to us citizens. England set this up because we went thru two wars with the Crown but were broke and England knew it so they told America they would keep waring with us until they won. We agreed to this scam by the queen to keep England away from us. Our checks would be $5,000 if it wasn't for the Royal Family stealing from us right now.
This is true, the ss cards were printed
And it shows how this was done
That is the dumbest thing I've heard so far today.
Social security takes your money in thru the front door, then goes out the back door.
Exactly 💯
Why doesn't our government pay back to the people the social security benefits they took from the general public??? They squandered it all.
They do pay it back, when you retire and take Social Security benefits.
What??? OMG! But we can send trillions of dollard overseas !
Yep. It’s the retired, elderly, disabled they to crush
You neglected to say that the ss fund added a huge # of disabled people, rather than keeping them within the SSD fund, as I understand it...Years ago, millions of 'drug addicts' were able to claim government subsidies under the SS fund...so, it just depleted the resources that were meant for retired workers...I'm sure others have dipped into the fund as well...So...that is my understanding of how the SS topic has been on the agenda for decades.
Our wonderful gov. has allowed the drugs to be let in to help keep people enabled, but gov. Gets their kickback, as long as gov gets their money, why would care & how about the homeless, another shocker. I can't believe how shameless they are. Discussed citizens...
....
@@marjorieharrington2513 I can say one thing....personal responsibility....I'm not a drug addict, derelict, homeless, or unemployed person.... I don't want to pay for drug addicts or lazy, stupid people....I'm ok with paying for 10% of the 'real' needy people, with mental illnesses such as schizophrenics, and psychotics, etc...they are victims of brain chemistry and genes.
I blame the ACLU for all of the mentally ill that are living on the streets....after winning a case for the 'rights' of the mentally ill not to be housed in facilities or take medication to help deal with their mental illness ....this resulted in the closure of about 90% of mental health facilities and left those people out on the streets to deal with life's struggles. Drug addicts...don't care about them...let them eat dirt. BTW...I agree with you about the government colluding with Mexican drug cartels...just look what Obama and his gang did while they had the reins of government. They're all multi-millionaires...drug payouts, payola for favors...now it's the fake president that is in the position to make millions more...Trump was cleaning the swamp until the corrupt demo-crats installed voting machines that could be manipulated....given a brain-damaged Biden the position. No one in their right mind believes that Biden beat Trump with 81 million votes.
and also keep the politicians out of ssi. that money in there should be for seniors only. PERIOD
Just imagine all the elderly government with they're salaries, plus, SS, plus having the ability to buy stocks.
Let's start with the obvious and cut out the life time pension for Congressional politicians. They have sat on their hands and ignored the SS crisis for fear of hurting Their careers. Did you know a single term (2 yrs) in the House can get you a lifetime pension of your full six figure salary? Did you know SS wasn't taxed until the 1960's? The fact is that Congress, "borrowed" $2.9 trillion from Social Security.
What about that so called excess that the govment" transfered" to the general fund back in the late sixties and seventies? How bout they reimburse that money and quit dipping into it to line their own pockets...I for one have contributed since I was 12/13 years old. Living as a hired hand on different dairy farms. Now they want me to give up part of my retirement because they got greedy and stole to much. I say nay nay!
Can you tell us SS seniors that the SS had been spending billions of our money which we put into the SS Fund every month faithfilly, so we'd have it when we retired?
I read an article where SS was paying out billions for trafficked children and also paying $1500 to the CPS( Child Protection Services)!!! Let us see video of what and who got the billions for the trafficked kids....using OUR money we put into the SS Fund , and then telling us that there will be a 25 percent reduction in our monthly funds! Since when does any org. in govt have the right to raid our SS Fund and not ask for our permission? And yet, our COLAs are so small that we are really hurting with everything being so high in prices that our COLA can barely cover our grocery bill in one shopping trip!
Come out and tell us the real truth about why we are getting such low COLAs but the SS can spend billions for trafficked kids. and then pay the CPS members (?) $1500 for each child...is that supposed to mean the CPS workers are also trafficking children too??
How true this article is, I don't know, but we deserve to know the truth...it is our money taken without our permission....what does that spell......theft! We should be living in luxury in our retirement today with the billions in the fund! Tell us the truth!!!
There's a video where Bernie Sanders and Lindsey Graham talked about Social Security. I searched it on TH-cam and found it.
Aside from all the comments here, Social Security was never intended to be an open checkbook for the government. That money belongs to the people of this country, not the criminals in office.
It was intended to lend money to the government.
@@SandfordSmythe Where did you get your information?
@@SJMatta SS Act of 1935. All surplus funds are invested in government bonds.
@@SandfordSmythe After reading the act itself I am to understand that they took half of the social security paid in to create a Federal bond fund to enrich the Treasury? I've never heard that and most information online was what we read in school. That portion was omitted in the textbooks.
@@SJMatta They took the surplus - the money not paid to beneficiaries. I don't know where you got that half figure from. There is no SS Fund in the Treasury, and it becomes cash that is all mixed up with everything else. The SS Fund is in the certificates held by SS. What did you think happened to the cash that was paid in? It needed to be invested and the banks and Wall St were not good places.
There have also been changes that give SS benefits to many who haven't contributed or have contributed for so short a time as to strain the system. And how many illegals are being paid by CASH in this country today who are NOT paying into the system but will soon start collecting benefits? Several million.
Illegals are not given federal payments.
First, take the last Trillion the Biden Administration printed for the green new deal and put it in the SS trust fund. 2nd, start taking at least a billion dollars of the trust fund per month and put it into the S&P 500 for the foreseeable future. The markets will rise helping all Americans and we will never have a SS shortage again. SS will not be there if we continue to let politicians manage our money.
Too bad we couldn’t take back Two trillion from the Trump administration 7.6 Trillion he added to our deficit
Social Security has been raided by many new benefit programs since it's beginning. All with good intentions. But the program was not meant to cover all those needs. That said, one way to extend the drop dead date of the program, would be to require 'means testing'. I know that scares many people. But the people that this would effect, are those with multiple pension incomes and truly wealth people who are needlessly taking money they don't need.
My wife and I were in business for 17 yrs. We not only paid in as most we also matched that rate as an employer. So we paid double as most business owners do. Your employer is required to match yours also.. As an employer we matched those hired and we paid in our own as well as matched our own. It’s just part of it and we are not complaining about our responsibility! Only unhappy for anyone losing out and we are not happy for ourselves as we know A LARGE PART OF THAT LOSS FOR ALL OF US do to mishandling in a way much worse than will ever be told! It started long ago. Yes I hear the numbers quoted all the time. Yes we understand the math! Or do we? This was planned carefully before the inception as well as the obvious fact that adjustments would be needed in the future! It was also understood that many would come as life progressed! If it is as simple as we are told then you must take responsibility for calling out the simple stupidity of those elected officials that implemented this many years before. Maybe we could go on knowing or appreciating how stupid we must be, as well as the implication of our government leaders stupidity back in the day. We are to believe some how that in the same amount of years only few advanced or EVOLVED to this place of utmost intelligence! DNA?
Maybe if we quit sending billions (trillions???) to other countries or paying off student loans for people who pledged to payback the loans when they took them, then we could fund social security as promised to us for working and paying into it ALL OUR LIVES -- 50+ years for some of us! I AM SERIOUSLY UPSET WITH THE WAY THIS COUNTRY IS TREATING US! This is just one more way to kill us off without firing a gun!!!!!
It didn't start just now. They've been taking out for years.
Be prepared not surprised
They are trying to figure a way to take the 2023 ssa raise.
That's the way it seems to work
2022 raise was countered by Medicare premium increases.
@@bcase5328 I didn't fall for all the advertizing they do daily, my phone stays ringing all day from ss board, I bought me a supplement..CHEAPER!!
@@bcase5328 Medicare going down $5
How about the gov't stop giving away milions/billions to other nations and fund SS...my baby girl will be short changed after working like a dog her whole life. MAKES ME MAD.
The government should just remove the Soc Sec Tax, income limit. Let people making $300-$400k a year pay SS and Medicare taxes on ALL OF THEIR INCOME. Then add a separate Soc Sec, and Healthcare tax to any corporation that makes over $100 million a year. With more than 500 employees. Must have both. A tax of Just 3% will work. 👍🏾
How much money has the government taken from Social Security.
What about all the money from SSI that was "borrowed"by the Congress and have the money start being paid back?
SSI is something else
I'm glad that you touched on raising the taxable income to support increased SS liabilities. It's one thing you never hear much about, only "cutting" benefits. Those affected by a tax raise, not the tax rate, but the maximum income taxed, would feel a little pain yes, but not like raising the rate on lower middle and working class taxpayers. This problem has been kicked down the road for decades, as this video suggests, and now is the time to finally right the ship.
There shouldn't be a cap on individual contributions. If the rich can receive SSI payment, they should be paying in at least as high a percent of the finances which they gain in the year (regardless of the source, "income" or not, taxable or not), as someone earning an income of $50,000.00 a year.
and congress continues to dip into the Social Security trust fund.
Shame on you for what you are doing to the American Retirees. Keep your hands off of our retiremennt.
His chart is a little skewed. He left out the fact, in 2020 through 2022 this Whole country was locked down due to COVID-19 with many ppl not working/ paying taxes. Very little was being paid into Social security with much paid out, causing rapid depletion of funds.
@@bcase5328 There is a cap because the benefit is capped.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Oh boy….I just started listening and I’m nervous already……
When a spouse passes the other spouse can draw either his or her benefits, whichever is higher. If there is no other spouse, well, who knows where it goes.
Social Security is the third rail of politics. Any politician attempting to end it is in for a shock.
thank you for sharing your post today, I find it both important and enlightening to listen to. it helps me to prepare for the future to come for real. keep up the good work ok
Inflation is already eating away at all retirement pensions/benefits/savings which are fixed benefits that do not have inflation adjustments.
The COLA is the inflation/cost of living adjustment calculated each year.
Yes, they do have inflation adjustments.
@@DavianSinnerYes, some pensions do have cost of living adjustments, and some don't, most importantly do they keep pace with inflation that is driven by political policy?
Everybody should be paying, not just up to a certain salary.
YUP!
And every one collecting based on what they paid in?
Pelosi is giving it away as fast as she can !!!
Great this is what I get for 45 years of paying in to SS
dont listen to this because the republicans have been moaning about soc sec since 1935! they will at the very last minute raise the cap on it and you too will get it!
Thank you there is a better understanding for me . Thank you for your time.
the real reason SS income is suffering is that the coffers were raided and never paid back... and now our gov't feels the SS income is an 'income stream' instead of saving it for retirees. Check history the Soc Security funds were raided !
Where can I look this up? The SS web site says something different, but they are probably part of the conspiracy Come to think of it, everyone seems to be part of the conspiracy and keeping the truth from us.
I checked them. What was raided?
That idea would force alot of Seniors out of their homes, onto the streets.
Thank you for covering the subject
Why does the tax end at just shy of 100k when those at this level can most afford it? I'm a conservative but I am incredulous as to how this fix could have a major upside. The iou's in this fund from the government treasury are worthless as the current pretend administration.
Maybe it wouldn’t go broke if Congress wasn’t giving everybody’s spouse that didn’t work , half the amount of the spouse. Only the ones working that paid in should be drawing it.
If you have to go on Social Security disability they will give each child under 18 1/2 of what you are being paid each month also.
Renegade, not always. I was born with a disability, birth defect, and though I did try working when younger, it did not work out well for me and I got back on SSDI... I had my son when I was 32, and he is now 11. He only gets $26 a month for having a disabled parent, to add to my $870. He absolutely does not get hardly a fraction of what I get, and we get no child support from the deadbeat dad either. I have heard of others who get a lot more than my son does, but for some reason SS told me that even if I had another kid (which I will not) that I would get no more money for that kid and the $26 is all my son will ever get. I have no idea how other minors with a disabled parent get so much more, but I know it's true that they do.
What about the hundreds of millions being spent to take care of millions of people who are in the country illegally? How about the billions already sent to Ukraine?
It is wrong all those that paid in for all those years to have to take a cut. We should continue to get our SS as we always did and those that came after have time to figure out how to change their eventual problem. Those Congress people that served during this time should have all their SS and other government income taken away because of their terrible job of managing SS.
Will a reduction in benefits be for future recipients only or will those currently collecting also take a cut?
The plan I heard is that we ALL get reduced Social Security.
@@deborahwygonik7915 That's a sure-fire path to losing an election. Those who are currently collecting won't stand for it.
I remember (during the Clinton administration) seeing ads in magazines showing a man carrying a gas can and walking along a highway, with the caption, "Social Security: It won't run out."
I think about what NAFTA did to many living wage jobs
He is so calmly stating such good news for seniors. So, I agree with some other comments, the government needs to stop taking funds out of SS for their general fund for their stupid pet projects, raise the SS taxes on over a certain earnings if necessary since our government can't seem to financially run the country. This is almost a scare factor to keep us feeling so unstable it only made me distrust these videos.
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Most of the people in government today are crooks, haven't you noticed? And have you noticed just how many have been "bought and paid for" by crooks to do they dirty work through the government and have "excuses" to explain to we the people "why we are having trouble" with our money today?? All a bunch of crooks.....and notice how "rich" they are!!! They all belong in prison!
We all need to stop being meek and mild and come out fighting and tell our government we have had enough of their lies, that we worked our buns off for years and paid our dues and we aim to collect what is rightfully our money. Otherwise, we were just slaves so others could take what we earned, for their own spending! That's what it looks to me....what are your thoughts? I, too, paid into SS since I was 16 yrs. old, too young to understand what retirement was all about back then, and I am now 84.
But the bottom line is, we have crooks in all levels of our government who dipped into our hard-earned money, telling us today we may have a "25 percent reduction" in our next COLA. They had better start calling in All the debts owed to SS from the many entities out there! House Speaker Pelosi mentioned that they had to borrow $2 Billion from the SS Fund to pay for the 1st Impeachment of Pres. Trump, only to find out they had nothing on him.....money wasted!! Did they repay that money......probably not.
It's wreckless spending and they probably don't care as they think we would not notice! I'm almost sure Pelosi isn't the only politician who dipped their fingers into our SS Fund!
@@robertdevoy3119 The lawmakers could change that,if they so choose
Clearly explained. Thanks.
Thank you for breaking it all up...what you're saying will all make sense if everyone will work together and use their brains. I agree about Medicare probably having more problems in the future. All I can say about me is that I claimed soc. sec. early at 62 and so glad I did!!!!!👍
Me too
this is the answer. raise cap to $1,000,000 per year on social security taxes. raise taxes on those that make over $100,000 per year. at same time get the bums off welfare and medicaid. stop people coming into our country and we support them. these are the ways to fix our system !
Higher tax threshold (or remove it altogether), age of eligibility changes and perhaps lower the maximum monthly payments. They should all be considered to stabilize SS. Perhaps you can address the truth/fiction behind those that believe the real problem started when Gov't started borrowing money from the SS fund? Thanks!
The higher tax threshold impacts the wealthy so it will their last choice.
And who are you to claim this BS?? Of course it's because the money was stolen with the intent of never paying it back by our trustworthy politicians!!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
What the hell's the matter with you?? If the politicians would pay theur SSI loans back, SS would be fine. I thought it was the law that they had to pay back all of this barrowed money. I don't see anybody stepping forward. Like usual we the ppl are now psying for it BIG TIME. This bull shit needs to friggin stop an d the government needs to pay it back NOW.
They will always keep us from our money. Their way to control . Never ending . Just more lies & more lies....
Tell Congress to pay back the money that it took out for other things!!!
Thats bullshit. We paid in to that for years. They no right to take it away. Dirty bastards.
Live in the moment is the solution for me personally.
How many immigrants are receiving great benefits, without ever having contributed! Healthcare and money.
I worked all my life. Have paid into system. Struggling in my old age and living month to month.
Cant afford car....insurance to expensive for me. I feel the older Americans who did everything right.....are getting ahafted.
Make people in that make millions pay their fair share without any ending number.
They do already.
There are lot of the people making millions who pay very little or no taxes. President Biden is planning to hire more IRS employees. 30,000 IRS employees will be retiring and the plan is to have more IRS employees going after the 1% making $175,000 or more to pay their taxes. The average folks will not have to pay more taxes. Bernie Sanders is working on a plan with Lindsey Graham to come up with a plan. It's Ron Johnson and other Republicans who have been trying to remove our SS every 4 years. It's the Democrats who have worked to save it.
It's fixable. Bring manufacturing back to America. Get more people working and paying into SS.
To save SS the government must remove income cap!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
What I was taught in high school was that the IRS finances was used to pay down the national debt and property taxes was what the government used to spend on government infostructure including Medicare government pensions etc
I watched this whole video to find out what changes were coming and at the end he says He Doesn’t Know. I feel like part of my life was just wasted lol
I'm not sure how you could have missed it. It is near the beginning of the video. The major change is the 25% reduction in beneifts.
We have a lot of people retiring but we also have a lot of people dying. No way in hell they will ever get a 25% cut through
Wait! Wasn't COVID supposed to solve this problem?
Covid began to solve the problem . It was the "vax" that in time will have solved it.
The jabbs are the back up plan.
how many people have never paid into Soc Sec that are receiving it?
how many rich people are getting SS? they don't need it
A 25% reduction is the equivalent of no cost of living adjustment for 3 or 4 years. howerver in 13 years we could have 25% inflation and we would just forgo the "cola" for that year. Another factor is people are dying for "cause unknown " and "sads" , sudden adult death syndrome. They are dying at a a 40% increase above the "baseline" . As this continues the 2034 date will be moved outward further and further.
How can you say we have a Shrinking workforce when we have millions coming Across the border every Year???
No need to worry folks! As I predicted, the Social Security Administration announced today a 8.7% INCREASE for 2023 beginning in January 2023!
It's been eaten by inflation.
What happened to the benefits of the people that have died in the last few years. Where are those benefits?
Social Security is an insurance program not a savings program. Mortality is already calculated in the numbers.
Both could of been shored up by many ways long ago. Remove the caps so everyone pays at 100 percent of their income, use the money on the GW wars into the program rather war of desire. The longer they waited they knew the more the pain that fix.
thats exactly what they will have to do!
If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Give the money to who paid into it. What are you giving money out to people who never paid into it! You people in government can play with our money in any way ! Make as many excuses you can!
Take them to the liberal's pockets!! STOP THAT PAY RAISE TO STATE OFFICIALS !!
So we have about 10,000 people retiring per day! I notice NOTHING said about how many on SSI etc are DYING per day! Why would you leave that OUT?
Mortality is not left out of the numbers. Mortality is calculated in the projections.
@@FinancialFastLane BUT why leave THAT number out as it is as important as the number retiring? Jus sayin!
@@muypro4 I'm saying it was not left out. It is definitely included in the numbers.
@@FinancialFastLane It looks all one-sided without more than one set of numbers! YOU, know the number BUT we, DON`T! Why? It`s like saying "there are many people living in wherever land!" I like your posts BUT this one is TOO suspicious for lay people like myself! I guess I`ll have to ask my own yearly Taxman, he knows EVERYTHING! lol PS I really meant "left out" on YOUR report.
@@FinancialFastLane Yeah,right!!
Why do those that make over $147000 not pay into SS? Seems absolutely wrong that the higher income earners pay nothing but will draw when the retire.
They participate up to that level. The pay and collect up to that figure. They don't have to worry about retirement resources.
They pay the tax up to a $147k limit because the monthly benefit amount is capped. If they raise the ceiling, they will also have to raise the max amount that can be received per month. The ceiling is limited because the max payout is limited.
Bernie Sanders and Lindsey Graham are working on a plan.
Social Security has been a blessing for my wife and me. However, we prepared well for living off our SS benefits. At the time of retirement our home was paid for, our bills were, and are, few. We live quite well, have traveled a lot, have kept our health in check. Thank you Social Security, you have made our retirement enjoyable and livable.
Stop payment to Student loans you don't have the money you have pay the money you took out of our pay checks
Medicare should not be taken away and to be fair Biden needs to pay back what he pulled out of Medicare.
Politicians have been taking from SS for years, not just Biden. Biden is working on taxing the higher income folks who have not paid their taxes for years due to loopholes.
Biden is not pulling from Medicare. He has just past a legislation that reduces medical costs. He's working on it.
We have NO representation!
If you take 25% of my Social Security, you are basically stealing money from me, as l had no say in what your planning to do. I was never ask, l didn't vote for this deduction, there's got to be a way we can get our money back!😠
what changes could be made to prevent this?
Our Government waist the taxpayers money, there is no reason for any short falls at all.
Hi sir I have a question. I’m resaving Veteran pension from may Husband so do you advise me if I can get also a pension from SSS as a surviving spouse? Waiting your advice thank you
I know many friends that died before they were 65. Where did the money go. If the average life span is 85 then 50% of the population died before 85. I had saved several hundred thousand dollars in 401k’s. But the plans put the money in the stock market. Well since the democrats took hold of the government its lost 25% and I can’t really take any out or I lose vast sums. Maybe the answer is to put the money in something that doesn’t lose, gold, precious metals, defense contractors. Not equities.
Thanks Lane. I look forward to your videos and find them very helpful when planning for the next 10-20 years.