Social Security Law
Treasury Secretary Questioned About Impending Bankruptcy of the SSDIP
This week, during a hearing of the Ways and Means Committee on the President’s Fiscal Year 2015, Tom Reed questioned the Treasury Secretary Jack Lew on the insolvency and impending bankruptcy of the Social Security Disability Insurance Program (SSDIP). Reed was concerned Secretary Lew did not address or mention the forthcoming insolvency of the SSDIP,…
Read MoreNew Company Aims To Help Retirees Make the Most of Benefits
A recently released survey shows that a large percentage of people over 55 claim to be pretty confident about their decision-making in regards to benefit claims. According to the same survey, however, only 5% of those people could answer crucial questions about Social Security. This survey was financed by Financial Engines, which offers strategy advice…
Read MoreFour Ways to Make The Most of Your Social Security Benefits
Without Social Security benefits, many seniors would be living well below the poverty level. Although it was never meant to be a main source of income, more than 90% of people over 65 receive Social Security benefits, and nearly one in five married retirees and one in two unmarried retirees rely on it for the…
Read MoreSocial Security Administration Denies WWII Vet Benefits
Robina Asti, a 92-year old World War II veteran is fighting the Social Security Administration, who, following her husband’s death, have denied her survivor benefits. The SSA says that she was a male at the time of the marriage, which nulls the marriage. Asti married Norwood Patton, her long-term partner, in 2004 in New York.…
Read MoreDemocrats Urge Against Budget Cuts In Letter to Obama
Sixteen Democratic senators wrote to President Obama telling him that they don’t want to see budget cuts to Social Security, Medicare, or Medicaid in his annual budget. In last year’s budget, Obama proposed changing the way the government calculates inflation. This would have reduced retirement benefits as well as increased some taxes. The budget had…
Read More4 Pressing Questions About Social Security Income and Taxes Answered
1. Are Social Security benefits subject to federal income tax?This will depend on your total income, because the more you make, the more taxes you pay on your benefit. If you file as an individual and your combined income – your adjusted gross income plus one-half of your Social Security benefits- is below $25K you…
Read MoreBudget Cuts Have Liberals Up In Arms
With President Obama’s budget due early next month, many progressives in and out of congress are already vehemently pushing against one potential line in the document. Social Security cuts, in the form of “chained CPI”, have been included in Obama’s budget several times in the past, and are expected to show up on the new…
Read MoreOpinion Piece: Jon Hall on Social Security
Federal finance consists of the federal government “lending” itself money and then paying itself interest on those “loans”. An example of this can be seen by the surpluses generated by the Social Security portion of the payroll tax that are then “lent’ to the general fund. The interest rate paid by the federal government in…
Read MoreWas Social Security Created to Encourage People To Quit Working?
Last week, the Congressional Budget Office released a report predicting that Obama’s healthcare law would lead people to work less, because it claims that the law will kill more than 2 million jobs. Obama supporters suggested that the ability to buy health insurance outside of the workforce would give more flexibility to workers who felt…
Read MoreA Workshop To Help Maximize Your Social Security Benefits
With the economy and needs of consumers changing, it’s becoming more and more important to make the most of Social Security benefits. A few simple tips may help those preparing to start their Social Security benefits save thousands of dollars, and for those already receiving their benefits, there may be ways to increase benefits in…
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