Thank you for your efforts. Social Security needs to be revamped anyway, and that needs to be a separate issue from the Repeals of GPO and WEP. These are punitive issues to a select group of people, and that needs to change.
SURELY there can be a different way to help SS be solvent and have more funding. We CAN do it. Find a way to fund SS, quit supplying the Oligarchy with money they don't deserve or need. come on this is America !
My Social Security statement listed a monthly income of $800 at age 62, because of the Windfall Elimination Provision, my actual Social Security income was reduced to $250.
We paid Into the system so we should be able to get it out. No one asked me a question when I had to pay into it like everyone else so why is there an question now regarding how to pay for it when it's my turn to get paid after paying into it for 27 years.
My employers and I paid into SS, and Work Comp, for over 30 years, and our government has the nerve to steal our money? This happened under Reagan, btw!
REMEMBER the GOP is Not our retirees side. Red Maga wants to cut SS. The GOP has given and is say ing thedy will still give BILLIONAIR companies tax breaks and help. And Forgetting and hurting regular citizens. WE cannot allow it and Not vote for those scalpers. We deserve help, not billionaires/Oligarchy. Vote with that in mind.
What about all the money from immigrants who hold work visas and contribute to the SS system? Often those folks don’t claim their SS benefits due to lack of valid SS number.
If Congress does repeal WEP/GPO, it'll be interesting to see if they make it retroactive to when individuals started collecting their SS. If the new law is not retroactive, Congress will say the country can't afford it, and the very next day they'll send off another $100 billion to Ukraine.
If WEP/GPO is repealed, it will not be retroactive. Such a proposal has never been seriously considered, as it is not a realistic possibility. Regardless of how each of us may feel about other areas of federal spending, the money spent from the general federal budget has nothing to do with Social Security. Social Security is a separate trust fund, which is exclusively funded through the federal payroll tax (FICA). Every penny paid in Social Security retirement benefits is funded through the payroll tax. No funds come from the general fund. If/when WEP/GPO are repealed, the money to pay for increased Social Security benefits for existing retirees will also come from the payroll tax being paid by today's active employees.
@shawnduhamel The existence of a separate Social Security "Trust Fund" is a myth. I suppose it technically exists, but if there was a true Social Security "trust fund" funded by payroll taxes,wouldn't there be hundreds of billions of actual dollars in the fund instead of "IOU's". I think it's a well established fact that politicians from both parties have been raiding the SS "trust fund" for decades to pay for everything the federal government spends money on.
They should make other tweaks to social security like stop giving spouses who are not Americans. Social security. I know people jtv are married to Canadians and the Canadians are collecting our social security and they don't even live in the United States. This is not fair. Stop giving the money to illegal aliens. This definitely is not fair but seeming that I know a lot of American that are married to Canadians. I'm well aware of the social security given to them. Why?
Regarding the WEP. Why not let people who are vested in SS buy additional years in the system to get to 30 years of substantial earnings. It would cost about $3800 per year to cover employee and employer contribution for a year of substantial earnings. This should relieve the financial burden on the system but allow people to get a full benefit.
What you are suggesting would require a major change in Social Security policy and federal law. Social Security is not a pension plan. Some would argue that this would be a form of gaming the system. Short of a major reform of Social Security as a whole (which must happen in the near future), the likelihood of any type of wholesale change in policy is unlikely. As we say in this week's update, Social Security is a national program that impacts the whole country. Changes to it are always going to be looked at in the context of the big picture, which is one of the reasons why it is so difficult to change WEP/GPO.
Thank you! For you and your crew’s efforts !
Thank you for your efforts. Social Security needs to be revamped anyway, and that needs to be a separate issue from the Repeals of GPO and WEP. These are punitive issues to a select group of people, and that needs to change.
SURELY there can be a different way to help SS be solvent and have more funding. We CAN do it. Find a way to fund SS, quit supplying the Oligarchy with money they don't deserve or need. come on this is America !
Grateful for on going information. Thank you
All❤👍👍👍👍👍👍❣️
My Social Security statement listed a monthly income of $800 at age 62, because of the Windfall Elimination Provision, my actual Social Security income was reduced to $250.
I feel your pain. I was promised $386/month. When I started taking SS at 62,my monthly payment was $171/month. Lying crooked politicians.
Help us with HOW to respond to th is, PUSH for presenting it to the floor for a vote. Please.
We paid Into the system so we should be able to get it out. No one asked me a question when I had to pay into it like everyone else so why is there an question now regarding how to pay for it when it's my turn to get paid after paying into it for 27 years.
My employers and I paid into SS, and Work Comp, for over 30 years, and our government has the nerve to steal our money? This happened under Reagan, btw!
All
All❤👍👍👍👍😌👍
REMEMBER the GOP is Not our retirees side. Red Maga wants to cut SS. The GOP has given and is say ing thedy will still give BILLIONAIR companies tax breaks and help. And Forgetting and hurting regular citizens. WE cannot allow it and Not vote for those scalpers. We deserve help, not billionaires/Oligarchy. Vote with that in mind.
What about all the money from immigrants who hold work visas and contribute to the SS system? Often those folks don’t claim their SS benefits due to lack of valid SS number.
If Congress does repeal WEP/GPO, it'll be interesting to see if they make it retroactive to when individuals started collecting their SS. If the new law is not retroactive, Congress will say the country can't afford it, and the very next day they'll send off another $100 billion to Ukraine.
If WEP/GPO is repealed, it will not be retroactive. Such a proposal has never been seriously considered, as it is not a realistic possibility. Regardless of how each of us may feel about other areas of federal spending, the money spent from the general federal budget has nothing to do with Social Security. Social Security is a separate trust fund, which is exclusively funded through the federal payroll tax (FICA). Every penny paid in Social Security retirement benefits is funded through the payroll tax. No funds come from the general fund. If/when WEP/GPO are repealed, the money to pay for increased Social Security benefits for existing retirees will also come from the payroll tax being paid by today's active employees.
@shawnduhamel The existence of a separate Social Security "Trust Fund" is a myth. I suppose it technically exists, but if there was a true Social Security "trust fund" funded by payroll taxes,wouldn't there be hundreds of billions of actual dollars in the fund instead of "IOU's". I think it's a well established fact that politicians from both parties have been raiding the SS "trust fund" for decades to pay for everything the federal government spends money on.
They should make other tweaks to social security like stop giving spouses who are not Americans. Social security. I know people jtv are married to Canadians and the Canadians are collecting our social security and they don't even live in the United States. This is not fair. Stop giving the money to illegal aliens. This definitely is not fair but seeming that I know a lot of American that are married to Canadians. I'm well aware of the social security given to them. Why?
GPO is less of a need. Singles don't get this additional benefit. IMO
Regarding the WEP. Why not let people who are vested in SS buy additional years in the system to get to 30 years of substantial earnings. It would cost about $3800 per year to cover employee and employer contribution for a year of substantial earnings. This should relieve the financial burden on the system but allow people to get a full benefit.
What you are suggesting would require a major change in Social Security policy and federal law. Social Security is not a pension plan. Some would argue that this would be a form of gaming the system. Short of a major reform of Social Security as a whole (which must happen in the near future), the likelihood of any type of wholesale change in policy is unlikely. As we say in this week's update, Social Security is a national program that impacts the whole country. Changes to it are always going to be looked at in the context of the big picture, which is one of the reasons why it is so difficult to change WEP/GPO.