When It Comes to Social Security, Republicans Don't Care About Their Voters
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- Опубликовано: 6 сен 2024
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For those who are saying "Spousal Benefits aren't affected the WEP" I'd invite you to read this little ditty from the SSA. Yeah, spousal benefits aren't affected by WEP but rather by GPO, which is much worse.
www.ssa.gov/policy/docs/program-explainers/government-pension-offset.html
The GOP will gut Social Security and Medicare. But don't trust me, just read Project 2025. They lay out their plans to wreck these earned benefits. They want to do this in order to give the wealthy a huge tax cut.
The average American is the foundation of this nation's economy, therefore if their money vanishes, unemployment will rise and the message "You have an unexpected month" will emerge. If you have a lot of student loans that are coming due, that money will run out very soon
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The financial crisis is primarily the fault of the Federal Reserve, which gains indirectly from bank failures, bank-owned real estate, and even more affordable cars. Production cannot be printed, but printing credit is acceptable as long as it is printed.
Completely concur. The Fed's strategies backfired miserably. The usage of an endless paper printer by the government has harmed the lives of millions of people. At times like this, advisors ideally help you learn how to grow your money.
Have to disagree Josh. If you don't contribute to SS then you don't get the benefit of those years. To give her the full amount is not fair to others who had to pay the fica tax. It would also be compounding the problem with an already underfunded system. She should have been funding an ira during those 7 years.
This is why I laugh when people say trump has turned the party into a party of populism. R’s DGAS about working class and middle class. I bought the trickle down bs for 30 years. Fixing SS should be the #1 issue today for both parties.
The bigger question is. Why do workers not participate in SS contributions.
Because they were convinced the pension they had was at least as good as SS and they didn't want to pay twice.
because if you worked for a state govt and had a pension, you'd be contributing to both state pension and SS. your paycheck would be hurting.
In my case no option employer made the choice. In most cases state or fed. pension is far better. Much so if your a firefighter or law enforcement
Because they are self employed or work based on commission.
And government workers don’t have FICA taken out because they will have their own free medical for life and have their one pension.
@@georgematz5338yes correct and even teachers and same for food safety inspectors. They all retire around 55 years old. Free medical. Lifetime salaries. Pay was lower back in the 60-90’s but it exploded in the 2000’s.
There are California city workers with 200k pensions. Just robbing the taxpayers.
social security is not an entitlement. It is based on what one contributes. Similar to a pension. Pensions only given to people who contribute. I worked a few years trying to start a business and took no money. Gave me some zero goose eggs on social security. Made up by earning more money in later years.
Social Security IS an entitlement by the very definition of entitlement. An entitlement is any obligation you are owed based on some set of defined states (usually these states are set by law but can be by contract). It can also be used to describe a current state of being. Contributions have nothing to do with whether something is an entitlement or not.
@@silentnot4812 no, it is an entitlement for the husband.
It most certainly IS an entitlement program. You pay into it all your life, you are entitled to the benefits .The word 'entitlement' always needs context.
Can’t have prayer in school unless we open it to every religion which would be a nightmare.
Agree, and athiests as well!
Why would we need to open it every religion? We were a Christian nation. Se can make it a Christian nation again.
Doesn't mean non-Christians get treated bad. Just means we are going to promote Christianity above all others. Nothing wrong with that.
@@HeritageWealthPlanning like children, a nation needs to grow up and rid itself of superstition and magical thinking.
@@danlopez.3592 and that's why we need to bring back prayer in school. Don't worry, it will happen. Probably not christian prayer but Sharia.
@@HeritageWealthPlanningsuperiority complex much?
The people who choose to work for a school system, or whatever, that has opted out of SS & then complain bitterly about the WEP elimination annoy me. They knew they were not paying in.
Penelope, we're talking teachers, many of whom started in the school district at the ripe old age of early 20s. I highly doubt they knew what was going on.
@@HeritageWealthPlanning Really? Gosh, that seems odd. I started working, full time, at age 22. I knew I was paying into SS.
@@penelope5500 Penelope..come on. Just because YOU knew doesnt mean the vast majority does or did. Don't be going all Pauline Kael on me. You know that reference by chance?
My daughter worked as a teacher. She didn't really know. Judgmental much?
@@jessn6974 lol... "judgmental much" 😂 Always the good default comeback. Don't you want to throw in the "you're just jealous" too?
Most of these municipal jobs are lower paid than the private sector also. So it's double punishment.
My mother in law is completely dependent on SS. And I mean COMPLETELY. Yet, she votes for the party that shit talks on SS. Hmmm…
Great stuff, Josh, I am a retired firefighter and did not pay the Social Security in that job. But I always had a side gig and earned 30 years of substantial earnings, but I still get punished by the GPO and I paid into the system..
Normally I agree with Josh, but he’s off base on this one. You don’t pay into SS, you don’t earn the benefit!
I could come up with a lot things that are actually unfair - that is, they have actual factual basis for correction. But this is not one of them.
For example, that SS is taxable up to 85% of it… and the non-inflation adjusted income limits that make SS taxable. How about making some noise about that?
This isn’t a “don’t you care” thing. Facts matter.
I think he's talking about people that paid into SS that didn't work 30 years, let's say 20, and then get a haircut because they have a pension.
@@markcobb8253 so? Why should everyone else make up for their choice to work for an employer who didn’t pay into the SS system for those years, instead offering a pension for the years worked?
@@M22Research maybe you missed what I was saying. Let's say I work for 19 years at Home Depot. My employer and I contribute to SS. I then become a teacher for the next 25 years and don't contribute to SS. I then retire. I should be able to get my pension, which I'll get, AND my SS because I had enough credits, and it was taken out of my Home Depot paycheck. Because I didn't have 30 years of 'substantiated income', when I was at Home Depot, only 19, I have to take a haircut on my SS benefit when I retire. Doesn't really seem right. JMO.
FYI, House Bill HR82 and Senate Bill S597 are both proposals to fix WEP & GPO. House has 323 cosponsors and Senate has 60 cosponsors. Nothing has happened on either despite the number of cosponsors so I’m thinking they have no intent to do anything only to point to their sponsorship when running for reelection.
What’s her husband’s benefit? She’s entitled to half of that. And that doesn’t affect her Iowa pension.
Spousal benefits aren't affected by WEP but by GPO which is even worse.
That’s interesting Josh. I did not know that….
what does socially conservative mean? all for letting people live their own personal lives without your judgement! financially you need a balance and not expect the government to bail you out for poor financial decisions but there are always exceptions and there is no way to be fair picking only one side over the other.
My grandfather told me republicans only care about the rich and the democrats at least throw a bone or two to working people. I am an grandpa with grown grand kids. The old man was right. I worked municipal jobs most of my life. I never worked for ones that opt out of Social Security. Young people see this and avoid this trap.
Yeah how's that working out for you the last four years?
@@paulpeters1739 Just fine. My pension, Social Security benefit and retirement investments is funding my retirement very well.
Caveat emptor when you take a job ... especially a gov't job.
Making fiscal decisions based on politics is dumb.
As someone affected by WEP you dont tell whole story.If spousal benefit is taken no discount for WEP. GPO only reduces a spousal benefit of a gov.employee. Look into the reason for WEP and it does make sense.
GPO is WORSE man! How can you not see that? "HOW THE GPO WORKS: The GPO reduces the spousal or widow(er) benefit by two-thirds of the monthly non-covered pension and can partially, or fully, offset an individual's spousal/widow(er) benefit, depending on the amount of the non-covered pension. The chart below shows how the GPO would affect spousal benefits for two non-covered pension amounts."
WEP makes sense, but the GPO doesn’t.
@@HeritageWealthPlanning
Josh in the vid. you were discussing a woman dealing with WEP. GPO is very different can of worms.
That is insane…
Besides ss we should have a US retirement system that everyone participates like in Australia and the UK
We have to protect our citizens especially when they can’t work any longer.
well we do have that...it's called Social Security. The problem is when one has a retirement benefit from a non-covered pension plan
I'm in a very similar situation to the example. I worked outside of the SS system for 8 years. I have substantial earnings for SS purposes totaling 24 years. My part time work which began when I was a busboy at 15 years old (12 years of part time work in total) doesn't count toward the formula except to minimally impact the average earnings sum. I will lose 40% of my anticipated SS earnings as a consequence. The trans nonsense drives me nuts but doesn't actually impact my life. This does.
Look at it this way. You said you had substantial earnings 24 years Another person could have worked 35 average years. Your AIME could be the same
HARRIS2024. Anyone but a dictator.
LOLOLOLOLoser
There are some people who vote only for money reasons like low taxes or more government handouts. I’m an independent. Corporations own our politicians. It’s not looking good when social security runs out of money in ten years
When's the military running out of money?
@@HeritageWealthPlanning the military won’t run out of money. Both parties keep voting for more military spending. Both parties do not agree to fix social security
UNITED STATES OF AMERICA, INCORPORATED.
In essence, the GPO is meant to prevent what might be seen as a “double dipping” scenario, where individuals could receive both a government pension and full Social Security retirement benefits based on their spouse’s or ex-spouse’s earnings. The GPO adjusts the Social Security benefits to account for the government pension, reducing the overall amount an individual can receive.
Because there definitely is no other double dipping going on. Come on, dude why pick on the teachers.
If you want to go after the double dippers there are plenty of quite wealthy fish to fry
Ya but you gotta play by the rules. Otherwise, get rid of pensions.
some school districts in Texas pay into Social Security; some don't. ours does not. the Texas legislature raised the pension benefit for the first time in two decades. still no COLA. thanks a lot. they're more concerned about getting the 10 Commandments in every school. when they do, funds will not be allocated. its ridiculous.
why can't we get the 10 Commandments in AND get rid of the WEP and GPO? These things are not mutually exclusive.
@@HeritageWealthPlanning priorities are backwards.
My wife and I are in our mid 60s. As a teacher she does receive a pension (she never worked outside of education). She gets no SS benefits: she never will, due to the GPO.
She will likely outlive me by 10 years. When I drop dead, 100% of my SS stops. No spousal benefit, ever.
She probably should have worked in private industry, in retrospect.
Yup- boggles my mind that the GOP doesn’t get this,‘especially in their quest for more women votes.
There's no good solution to SS for the working/middle class folks. As it sits now they're going to push back the retirement age just as I'm eligible for the benefit.
how is it that you're directing this at Republicans? since when do Republicans run Social Security and make these decisions?
Raising children should be considered a job and be credited accordingly for SS
100%. But the same "conservative Republicans" will say the country can't afford that, all the while expanding the budget for NASA and the military.
@@silentnot4812 because raising children has the greatest impact on the future of our country and should be compensated accordingly.
@@danlopez.3592 parents already get child tax credits to reduce their taxes every year.
@@AmeriGlobal if a parent is stay at home parent they are not making an income to pay taxes on in most cases. The credit you were talking about is in the range of about $150 per month. Hardly worthy of the job.
@@danlopez.3592 there are plenty of kids being raised by a parent or parents that continue to work.
Perhaps they should stop allowing any employers or employees to opt out of the SS system.
Why don't someone simply update the SS rules re the double dipping state pensions and SS? Maybe put some guidelines to exempt those making bank but NOT for the lower income, give them their full SS? We are one country, SS is an American social program to protect the weakest of us.
Josh, heck no for prayers in school. Religion is a freedom for all of us Americans, we have no right to force one religion on everyone, you are a fanatic with this, just stop it. I am Christian, but I love my Muslim, Bhutan, and athiest friends, and wouldn't feel right to force my prayers on their kids at school, this is American
Where is her husband?
what does that have to do with anything? He's going to go talk to Social Security Administration on her behalf?
@@HeritageWealthPlanning I know it’s your opinion but too wide for me to listen to generalizations. Ayou work for the government you pay sometime that’s the way it works!
What does the husband have to do with anything?
You made a fatal flaw going political. You’ve also gone for the bait. Democrats made your social security taxable.
you must be new here.
The first time SS was taxed was under Republican President Ron Reagan and was a bi-partisan vote. www.ssa.gov/history/InternetMyths2.html
Only because SS was in trouble back then Remember the average SS was around $3,900 back then Not even close to being taxable except for 10-12% of SS recipients
@@HeritageWealthPlanning yes, but I won’t be back😏
See ya
Washington Generals.........
100%. and forever will be too.
Women deserve better. My buddy will have a great retirement without any offspring paying in. I have 3 productive members of society paying in while I'm still paying in but my retirement income will be less.
I don't blame women who are choosing not to have children. I just told my 20 year old not to have children. She is working 2 jobs and paying taxes. If she has a child, she will be punished.
Why will your SS be less? It will be based on your earnings just like everyone else. Also, the woman who is married & has children will be elig. for spousal/widowed benefits as well as the possibility of child in care. I'd say it's the women who marry & have kids who have the most advantages. It's the single people who really get the short end of the stick on SS.
@@penelope5500 Women get married and then divorced to start child support. I worked tons of overtime when my mom was able to babysit. Then she got sick and I had a new baby. I took time off to care for both of them and my other 2 kids and husband. I'm under the 10 years to qualify for his SS even though Im still the one helping the children while he sits at the bar.
how does she get punished by having a child?
@@anniealexander9616 Annie, you know you want to be a grandma
@@cutehumor I'm already a grandma. I love them. Oldest turned 16 back in April. The problem is men aren't men anymore. My grandsons were born in different states because my son in law was in the army. Now my daughter has filed for child support even though they are still married. She is raising them alone.
First, again!
This guy...I can't!
Didnt come here for your political views but when in Rome!
Trump 2024!!
Kiss your SS goodbye 👋
@dantheman6607 : Dumocrat sensationalism . Trump has said multiple times he won't touch SS . Also contrary to the mainstream talking heads trump has not endorsed project 2025 .
Try harder .
They should legalize MJ for medical purposes and tax it to fix social security.
The Devils Lettuce? I thought it was already.