Congressional Corner Can Protect Social Security Expanding Benefits
For more information about Social Security reform options, click here. To watch Wednesday's House Budget Committee Hearing in full, click here. .In setting prices, drug makers rarely acknowledge the considerable federal funding and research that have helped develop their products; they have not offered taxpayer-investors financial payback. .The Guaranteed 3 Percent COLA Act (H.R. 991) from Congressman Eliot Engel (NY-16) also gained one new cosponsor this week: Congressman Andre Carson (IN-7). If adopted, it would base the Social Security cost-of-living adjustment (COLA) on the more accurate Consumer Price Index for Elderly Consumers (CPI-E), and it would guarantee an annual benefit increase of at least 3 percent. The bill now has six cosponsors in the House. … Continued
Ask The Advisor June 2011 Advisor
Congress last year expanded this program in the healthcare reform act, or the Patient Protection and Affordable Care Act (PPACA), which was signed into law in March 20The PPACA expanded "means testing" to Medicare Part D, and froze the income thresholds at which beneficiaries become subject to the "means test" at the 2010 levels through 201This year, depending on income, individuals who make more than ,000 and couples who make more than 0,000 will have to pay from .10 - 3.70 extra per month for their Part B premiums, and from .10 to .10 extra per month for their Part D premiums in 2011. .Americans 65 and Older See Largest Increase in Poverty .This situation is only for 30 months though. Once you turn age 66 you can earn as much as you want without reduction to your Social Security benefits. Meanwhile you continue to work and delay your retirement benefit allowing it to grow. Once you reach age 70 you should go ahead and switch to your own larger retirement benefit, since it won't grow any larger. … Continued
The online survey, taken by 401 participants, was conducted in June and early July 2020. Here are some key findings: .Obviously we will continue to push for passage of those bills and keep you updated about their progress as things develop. .The age at which you start receiving full Social Security benefits varies depending upon the year you were born. For people like you who turn 66 in 2021, your full retirement age is 66 and two months. For more retirement planning information visit www.SocialSecurity.gov. .While Ponzi relied on keeping his financing scheme secret, Social Security's financing is well known. The Social Security trustees issue a detailed report every year that outlines the projected financing and outlays and funding problems of the program. . The situation that we all are in is precarious, and that includes the worldwide supply chain for prescription drugs. (More on that in a minute.) You need immediate help and here's a check list of what I suggest you try: .In the past five years the annual adjustment has averaged just 1.4 percent — less than half the 3 percent average of the prior two decades starting in 1990. Retirees and disabled Social Security recipients are reporting that the COLA is doing a poor job of what it's intended to do — protecting the buying power of their Social Security benefits. According to an annual survey performed by TSCL, Social Security benefits have lost 31 percent of their buying power since 2000. .If a COVID-19 vaccine yields a price of, say, 0 a course, vaccinating the entire population would bring a company over 0 billion, almost all of it profit. .In the meantime, TSCL will be keeping a close eye on the budget negotiations since they will impact the funding of the Social Security and Medicare programs. We will post updates here in the Legislative News section of our website, and on our Twitter page. .On the unemployment payments to individuals, there are a lot of legal questions about the money the President wants to use to pay for this. He calls for billion of funding from the Department of Homeland Security's Disaster Relief Fund that is normally used for hurricanes, tornadoes, and massive fires to be shifted over to unemployment.