News

  • Legal Loophole Allows Benefits Based On Illegal Work

    Based on the growth rate of the Consumer Price Index for Workers (CPI-W) over past 12 months, I'm projecting a COLA in the vicinity of 3.6% for 201But Congress may take action that would slow the growth of the COLA. Deficit reduction plans are likely to call for switching to the "chained" CPI, a move that TSCL feels would further undermine the purchasing power of benefits. The difference between the CPI-W and chained COLA has averaged about 0.3 percentage point since 2000, but that's not the case this year. In fact, if the switch were to affect the COLA payable in 2012, seniors would get a COLA of about 2.8% — a cut of more than 20%. .It's widely anticipated that benefits will be cut, perhaps significantly, for retirees at some point in the relatively near future, and that significantly higher taxes will be needed. In addition, this inconsistency between Social Security and immigration law suggests that newly work-authorized immigrants may benefit in the future, at least to some extent, at the expense of native-born U.S. workers and retirees who paid into the system legally over their entire working careers. .The IRS also issued similar warnings about coronavirus imposter scams related to stimulus checks, overdue payments, filing extensions and other tax related topics. … Continued

  • Illegal Immigrants Received 4 2 Billion In Tax Refunds From Irs

    The exact mechanisms for enacting the provisions therein — such as requiring manufacturers to reveal their development costs — remain unclear. The industry has previously protected development data as a trade secret. The bills would also require "reasonable pricing clauses" be included in agreements between drug companies and agencies funding their work. They propose waiving exclusive licenses for COVID-19 drugs, allowing competitors to sell the same products as long as they pay the patent holder royalties. .At a time when Congress is deeply divided on many issues, we need to find a way to break through the gridlock to pass bipartisan, commonsense measures to support our nation's seniors. In that spirit, I introduced the bipartisan SAFE ID Act to ensure that seniors can retire without fear of having their identity stolen or losing their savings. With nine of the ten top cities for tax-ID fraud located in Florida, many seniors in my home state have fallen prey to identity theft and other forms of fraud. This bipartisan legislation will eliminate one big source of identity theft by allowing a shortened taxpayer identity number to be used in place of a social security number on taxpayer forms like W-2s. .The savings to the government for switching to the more slowly-growing CPI compound over time, and are substantial. The Congressional Budget Office estimates that the change would cut COLAs by 2 billion from 2012021 alone and, if used in other federal retirement programs and for indexing taxes as well, would reduce deficits by about 0 billion over the next decade, including reduced interest on the debt. … Continued

The age. Q & 038; January 2021 Can I Work and Receive Social Security Benefits at the Same Time? .At Wednesday's hearing, many of the Subcommittee members expressed their support for this model of paid family leave, while others spoke about the detrimental impact it would have on the Social Security program. Senator Sherrod Brown (OH) – Ranking Member of the Subcommittee – said in his opening statement: "Using your retirement security to fund paid time off from work when you have a child is not paid family leave at all – it's robbing from your retirement to be able to care for loved ones now … I want to work together, but a plan that's a first step toward privatizing Social Security – the bedrock of our social safety net – is no place to start." .In addition to testing, passengers who are not fully vaccinated should self-quarantine for 7 days after cruise travel, even if they test negative. If they do not get tested, they should self-quarantine for 10 days after cruise travel. .Get the Revised Retirement Newsletter .(Washington, DC) – The tax bill being discussed in the U.S. House contains what may be only a fleeting benefit for middle class and older Americans, warns The Senior Citizens League. "The changes under consideration may provide some modestly lower federal income taxes at first, but the benefits for many people would be short - lived," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. "Older middle - income Americans could shoulder a disproportionate share of taxes under these changes, and get pushed more quickly into higher tax brackets than they are today," says The Senior Citizens League's Social Security and Medicare policy analyst, Mary Johnson. .According to The Senior Citizens League's research, Social Security benefits have lost 34 percent of their purchasing power since 2000 due in large part to inadequate cost-of-living adjustments (COLAs) and rising health care costs. .On Tuesday, new and veteran lawmakers in the House and Senate met on Capitol Hill for the swearing in of the 115th Congress. As expected, Congressman Paul Ryan (WI-1) was re-elected to the Speaker position with 239 votes in the House, and Congresswoman Nancy Pelosi (CA-12) was re-elected to the House Minority Leader position with 189 votes. .TSCL is calling on Congress to close this loophole, and endorses the "No Social Security for Illegal Immigrants Act of 2007" (H.R. 736), introduced by Representative Dana Rohrabacher (CA). The legislation would close the loophole by excluding earnings of any wages for unauthorized work. .To learn more about your Medicare benefits download a copy of the "2011 Medicare & You" handbook by visiting www.medicare.gov or call 1-800-MEDICARE ( 7).