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You pay a tax on your Social Security benefits directly to Social Security based on your income.
The threshold to be means-tested and pay the tax is rather low at $25,000 for a single person.
That will not make Social Security solvent.
That nonsense has been repeatedly debunked.
It will only generate $64 Billion from tax-payers plus the employer's share which is $64 Billion which comes to $128 Billion annually, and in a few years, you'll be paying out $130 Billion each month.
Eliminating the cap won't even cover a single month of benefits.
And the fact is that the "threshold" of taxability for Social Security benefits ($25000 for singles and $32000 for joint filers) has not been raised sine the program was supposedly overhauled in the early 1980s, amd $32K was still viewed as a generous income; that single "oversight" has probably contributed more toward sustaining the Great Ponzi Scheme than any other measure I can think of.
I find this highly unlikely. It's very hard to get rid of a benefit once it's become entrenched. They may start to try to undermine it, but they won't be able to abruptly kill them off.
They are undermining it at every turn. Kudlow came out just last week telling you they were going after entitlements.
Fire walls so to speak. Kill them off and lets watch as the GOP removes all banking regulation. It only took 9 years after they got rid of Glass-Stegal for a depression to hit.
So the GOP is going after SS and Medicare. Even the ARRP knows they are going after the 2 most important issues of the people who vote for them.
My Rep. in NC 8 voted for the bill which kills them off. Time for this guy to go. Put them back I control and we will see the end of our retirement future.
They are undermining it at every turn. Kudlow came out just last week telling you they were going after entitlements.
Fire walls so to speak. Kill them off and lets watch as the GOP removes all banking regulation. It only took 9 years after they got rid of Glass-Stegal for a depression to hit.
Amazing how some have ZERO reading comprehension.
" Kudlow came out just last week telling you they were going after entitlements."
If they killed SS and Medicare, the republican party would no longer exist. A large percentage of their voters are on, you guessed it, SS and Medicare and gleefully spouting their nonsense about how social programs should not exist. The republicans can say they're going to eliminate these programs but they know that too many of their voters depend on them so they won't actually do it, IMO.
A congressman in a nearby district sent out a survey about how many of his constituents rely on social security. Granted, we live in heaven's waiting room, but something like 75% checked off that it matters a great deal to them and another percentage said that they are too young for SS but they would depend on it. This is in a red county.
Put the GOP in control of 3 branches and watch it go away. The House budget shows just where they will kill as many seniors as they can.
Not as long as Trump is in charge. He may talk the talk to and for his base, but he wants to please everyone in the end. According to Mike Bloomberg.
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The republicans can say they're going to eliminate these programs but they know that too many of their voters depend on them so they won't actually do it, IMO.
