GOP Introduces plan to Massively cut Social Security (Simpson, capital, single)

[Roadking2003]

So, after 78 pages of posts we finally know what's in the bill since the text of the bill just became available;

https://www.congress.gov/bill/114th-...EBD98BEAC79CE9

So maybe we can post some FACTS about this bill such as it will increase the full retirement age beginning in 2024 from age 67 to 69.

[mohawkx]

Originally Posted by Roadking2003

So, after 78 pages of posts we finally know what's in the bill since the text of the bill just became available;

https://www.congress.gov/bill/114th-...EBD98BEAC79CE9

So maybe we can post some FACTS about this bill such as it will increase the full retirement age beginning in 2024 from age 67 to 69.

Reading the bill, the first thing that comes to mind is the change in computing the yearly COLA. This would become immediately effective upon passage. Using a Chained CPI is a major tax increase for seniors and is unacceptable. As soon as this becomes common knowledge, it will be unacceptable to the 47 million seniors on SS.

The Chained CPI: A Painful Cut
in Social Security Benefits and a
Stealth Tax Hike

1) Switching to the Chained CPI would result in cuts to already
modest Social Security benefits.
2) It is likely that the Chained CPI is not an accurate measure of the
inflation rate seen by seniors.
3) The Chained CPI would lead to income tax increases for working
Americans.

For the average worker retiring at age 65, this would mean a cut
of about $650 each year by age 75 and a cut of roughly $1,130 each year at age 85.5 These reductions
in benefits would be a substantial hardship for millions of retired and disabled Americans.

http://cepr.net/documents/publications/cpi-2012-12.pdf

[G1..]

All becuase they refuse to pay back what was taken from SS .

[mohawkx]

Originally Posted by G1..

All becuase they refuse to pay back what was taken from SS .

They're going to give the money in the form of massive tax cuts to the rich instead.

[jdm2008]

Originally Posted by mohawkx

They're going to give the money in the form of massive tax cuts to the rich instead.

Can this bill be filibustered or can it pass under reconciliation?

[whogo]

Have the Democrats put up any proposals to address the SS shortfall?

[nicet4]

Originally Posted by Seacove

Social Security doesn't need fixing. If there's a gap, just take the limit off which is currently $118K. Republicans are just trying to use these four years to destroy Social Security and Medicare while giving themselves massive tax cuts. Everyone knew this was coming. I'm not a senior so if seniors want to fight for this, they have to fight vocally. Otherwise, they lose and frankly they deserve to lose since they voted for Trump.

As a lifelong hard right wing deplorable this would be the fix.

With the demise of defined benefit plans social security need to be strengthened not weakened.

[Mircea]

Originally Posted by G1..

All becuase they refuse to pay back what was taken from SS .

Nobody took anything from Social Security. Go educate yourself.

Originally Posted by whogo

Have the Democrats put up any proposals to address the SS shortfall?

No, of course they haven't....it's not the Democrat way.

[Mircea]

Originally Posted by Roadking2003

So, after 78 pages of posts we finally know what's in the bill since the text of the bill just became available;

https://www.congress.gov/bill/114th-...EBD98BEAC79CE9

So maybe we can post some FACTS about this bill such as it will increase the full retirement age beginning in 2024 from age 67 to 69.

That's the Bill introduced by Sam Johnson of Texas, not Paul Ryan's proposal.

Johnson's Bill dies at the end of this session.

Ryan is waiting until the next session to introduce his Bill.

[2sleepy]

I just ran across this:

However, Bloomberg reported that when Trump met with House Speaker Paul Ryan (R-WI) on May 12, he said privately that he favors cutting Social Security on moral grounds but knew that declaring it would seriously hurt his chances in November. The following day, Trump’s senior policy adviser Sam Clovis said during a conference in Washington that Trump would consider changes in Social Security and Medicare “after the administration’s been in place.” How the Democratic and GOP Platforms Clash Over Social Security Reform | The Fiscal Times