Cutting taxes to stimulate the economy? Haven't we tried "trickle down economics" before and found that it doesn't work? Corporations increased stock buy back and executive compensation with their tax savings windfall.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Yes, truly, investing in the market, even if it's just the S&P 500, can keep up with inflation, because the growth rate of stocks will always exceed the inflation rate. But if you don't have the courage, you could just invest with a financial advisor, which even has greater return on investments, while securing your investment against losses.
@@Rachadrian Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!
@@michaelschiemer3 Trump's plans for more trickle down economics will result in the rich getting richer, this is the only idea that Republicans have, it has already been tried and does not help the average citizen at all.
I paid into social security. It was taken from my payroll check each pay period. What happened to the fund's taken from my check? This is so unfair to retired people.
When you pay into Social Security, the funds go to the Social Security Trust Fund, supporting current retirees. Due to an aging population and fewer workers paying in, the fund faces a shortfall, putting pressure on future benefits. This has led to debates on how to ensure its long-term sustainability, though solutions remain complex and uncertain.
Stolen and mismanaged to use for there own security and pet projects, I guess a majority of people are to scared of government retribution if they speak the truth and show facts of stolen taxpayers dollars , its it obvious our own Government using threats and intimidation to destroy its own citizens just to cover up not only there inadequacies but there fraud corruption. And treasonous acts against against Americans just to increase there own wealth and power
@@moneyinstructoreasy fix , stop using OUR taxpayers dollars for foreign aid over 200 billion in last 4 years , and how many more billions of taxpayers dollars over decades if our government used taxpayers dollars for there intended purpose for Americans and our infrastructure and national security or bringing down our deficit instead of lining the pockets of any country that crys they need money which our government freely hands out but let an American ask for som of there own tax dollars a youll hear is DENIED
So apparently @Moneyinstructer is on the same wave lenght as our Government and are trying to gaslight you asto the real reason SOCIAL SECURITY dont have enough money or why our DEFICIT DOESNG COME DOWN EVEN AS OUR TAXES GO UP . BOTTOM LINE CORRUPTION
@@moneyinstructorMost people don't see a dime they die before edible for funds. Millions people yearly .It got so big they had to mess with it. You won't see Congress pension funds get tapped to pay for Ukraine or Israel.Joke people scam even after you retire you might live ten years .
social security is not taxed when its deducted from your pay-check. When you start collecting social security the taxable amount is the one the employer contributed, hence about 50% of the amount you get will be taxable.
@Eyeris625 Social security IS a TAX. You're paying into the government as a tax, then you get it back later, but then they tax it when they give it back to you. The government has stolen from SS for years then complain its going bankrupt. We would have been better off if they would have let us take 25%-50% of the money we've been putting into SS to use in stocks rather than just an IOU from the government that's not guaranteed. We don't make interest on SS money, and they tax us when they give it back - it's a loss.
The contribution to SS taken out from everybody's paychecks is gross amount. So, they take your contributions BEFORE they apply the taxes on income earned. "The contribution to Social Security (SS) taken out from paychecks is a PERCENTAGE OF GROSS WAGES" In other words, nobody pays taxes when contributing. It's NOT double taxation. That's why they tax the amounts when people are receiving their monthly benefits, at federal level. Some states do not tax SS benefits. Others do. It has been considered gross income.
Answer: The rich stay rich by keeping the poor in a barely scraping by mode. they know poor people won't do anything about it . Because their busy trying to figure out how their going to make it on their measly income.
The 2.5% cost-of-living adjustment for Social Security in 2025 has raised concerns among beneficiaries, especially given rising healthcare expenses. While this adjustment will increase the average monthly benefit by about $50, many feel it's insufficient to offset the escalating costs of health insurance, Medicare premiums, and medications. For instance, Medicare Part B premiums are projected to rise from $174.70 to $185 per month in 2025, which could significantly reduce the net increase from the COLA. Additionally, prescription drug costs continue to climb, further straining retirees' budgets. These financial pressures highlight the challenges seniors face in maintaining their standard of living amidst modest benefit increases and growing healthcare expenses.
American has private health insurance & public. It’s the insurance companies that decides what will & will not be covered due to costs. Obama care was a supposedly fashioned to Canada’s health care system. WRONG! There’s a misconception that Canada has free healthcare. WRONG! Canadians pay for healthcare through federal & provincial taxes. The difference is a doctor MUST refer you to a specialist which can take days, weeks, months or years. Any mention of private health care is met with disdain.
President Reagan was the first to legislate taking money from the SSA trust. The bill to not tax SSA benefits has been before Congress, but they have failed to act. Contribution rates from payroll may need to be increased, by the time we file for our benefits, some of us have paid into the system for at least 40 years. It's not an entitlement, it's earned.
You’re absolutely right. Social Security is indeed earned through decades of contributions, not an entitlement in the traditional sense. President Reagan’s administration introduced taxation on Social Security benefits for higher-income retirees in 1983, directing those funds back into the system to help cover costs as the program faced increasing demand. Since then, proposals to remove the tax on benefits have come up but haven’t passed, largely due to the financial strain on the system. Increasing payroll contribution rates is one possible solution under consideration, given that many Americans pay into Social Security their whole working lives. For retirees, it feels unfair to see funds taken from Social Security benefits when they’ve contributed for decades, and many agree that changes should aim to honor that commitment.
The tax on social security, was to help stabilize the program, because earlier people in office actually took money from program, which was supposed to be untouchable, but government officialls. But the first take from the program was in the 70s during the gasoline crisis. It was suppose to be a temporary loan to be used in the oil market than payed back but never was. There are 2 or 3 times before Reagan the government borrowed from it and never payed back. He signed, that tax act and an overseer committee, separate from the government , that ended anymore government money grabs on the program. Wasn’t no president that grabbed from the program, it goes threw congress and senate, president vetos , but it can passed it it goes threw both of them. His billed actually end that make it untouched by the government. I wasn’t a Reagan fan, I was in the marines when he was in office. I alway been an independent voter. Never believed in either party. I just voter for who has the better, understand of the people’s need and the countries needs
You’re correct-Social Security was originally designed to be tax-free. When the program began, benefits were meant to provide a financial safety net without the burden of taxes. However, in 1983, Congress introduced taxes on Social Security benefits for certain higher-income beneficiaries as part of a reform to help bolster the program’s funding. This change was made to address concerns about Social Security’s long-term sustainability, but it has remained a point of contention, especially for those who believe benefits should be untaxed given that they’re funded by workers’ contributions over their lifetimes.
@@moneyinstructor The Social Security tax on "higher income" recipients is the fine point. Those with higher incomes and various retirement packages come under different consideration. In this case, the tax on Social Security was based on the fact that these people did not need to rely on it as a sole means of retirement income. Second, this was a means to recover the funds that where stolen in the 1980s. The question is why this was allowed to happen since Social Security was never intended to be taxed. There also need to be an audit to be sure there is not fraud being committed with Social Security benefits and people receiving them that should not.
My social security income and my son's social security income have been cut severely we struggle every month it takes all of our income just to pay utilities and there is nothing left .we have to depend on food banks ..I am going to say this right now .The government does not care about low income people ..I am a senior citizens .they do not care!
They don’t care about us and won’t help but still expect you to pay co-pay when you see the doctor at $65.00 co-pay and some of my meds are as high as $147.00 which I just do with out they don’t care , but I give it to the Heavenly Father he is still in control and he loves me. Minister B. Martel
@@davidhaley1776even if we do that, the money will not be allocated for social security. Republicans have always considered social security as an entitlement and have ALWAYS been in favor of cutting funding for such programs. It's the first conversation out of their mouth. Therefore, those dependent on it, will always be subjected to it being at risk of being reduced. Politicians could care less if the most vulnerable of us suffer. They will NEVER need it, and won't think twice about the sufferage of those who do. Let's just keep this real.
I agree. Even an extra $1,000 would be more comfortable. As it is, I have had to work occasional Part Time jobs to supplement my income from SS, and at 72, I am already exhausted from working for 50 years. And the work environment today is toxic and depressing.
@@joltjolt5060 It's based on what you were able to earn. Someone like myself, who was growing increasingly disabled but still not qualifying for SSDI until near retirement, my lifetime earnings are on the low side. NOT LAZINESS, BUT NEUROLOGICAL ILLNESS IMPACTED. I would never be given anything near that amount.
I've been hearing about how Social Security money is going to run out for the last 30 straight years, and they keep kicking the can of the road on when it's going to happen. It's fear-mongering, and they need to keep their dirty hands off of it.
That is a redistribution of wealth scheme - making people pay more into a system that they will not receive any benefits for. It is essentially making rich people pay for the benefits of poor people. Marx would be proud. I'm a 68-yr old SS retiree, who paid into the system for 45 years. I don't want someone else's money. I want a return on my own contributions and my employer's contributions on my behalf, adjusted for inflation, plus reasonable interest. I don't want, nor am I entitled to the contributions of others.
@@SuperSushidog the system already redistributes too much to the wealthy, why not help the poor? How much you receive back is based entirely how long you live, so living long enough will exceed what you ever put into it...
@@gordygowdy7989 Some people are born to poor families with many disadvantages to overcome, while others are born to wealthy families with few disadvantages. While it may be difficult, some who are born poor and disadvantaged, maybe with a heroin addicted mother, may work hard, get a good education, make good decisions and occasionally even become vice president of the United States. While others, born with the proverbial silver spoon end up in disgrace, doing cocaine in the White House and selling out their country to foreign adversaries. Such is life. I don't think we should punish success with redistributive policies in order to achieve equity, as we will get less of it. And I don't believe government has the right to do so. Governments should strive for equality before the law, not redistributed equity. This is Marxism. However, we should encourage people at every level of achievement in our free society to be charitable and philanthropic with what they have earned. I realize that if I live longer than average, I will receive some of the savings of people who live shorter lives than average. But this is way the SS retirement program was designed, like a pension fund. However, I had no say in its design or rules of operation, though I was forced to contribute into it over my entire life, which intitles me to the benefits as provided by law. This prevented me from investing this money in a vehicle as I saw fit, so I see no ethical problem receiving more money in benefits, according to the plan rules, than a participant who has died. This could have just as easily been me, and the dead have no need for money in the grave. So, by participating I am not depriving any living being the use of this money, as I would be if I took it from a living person who had earned it.
With 50 years of contributions, you've certainly paid into Social Security for a long time, making it even more understandable to want the benefits you’ve earned to be fully accessible without additional taxes. For many like you who have contributed over decades, there’s a strong feeling that these benefits should come without further deductions, as they represent a lifetime of work and commitment to the system.
I know people that paid into SS for many years, that died and NO ONE got to draw off of it. Where did that money go????? My ex is one of them. His brother is one of them. I know many more.
@@dystoniaifynow don’t do that. Why be so defeated , is surviving a brain injury and still being able to interact and connect not a blessing? Y’all give up and in too easy just bc of something you don’t agree with. We didn’t vote for him but he’s here and he’s not God. Get serious about the higher power that saved you and remember what you think you manifest. Bless up and lighten your spirit. May you find healing and strength. This too shall pass.
to bad they rate it on the inflation maybe after trump raises our inflation it will go up some! but yea it sucks they can spend so much to help other countries and leave us elderly that built this country for fifty years paying in but our elected polititions just care about their pocket books not the people who made it for them to get their cush jobs!
Not to mention that every time the SS increase goes thru so does the Medicare part B premium. The increase in SS then becomes practically null and void.
wait till you get older and try to live on what the cost of every will be by time you get to retirement age! and hope you don't get hurt to where you can't work like me in my position all I ended up with after my doctors bills !all I get is ssdi thank god barely got a roof over my head and no more steak and lobster!!good luck to everyone if s/s runs out! there will be millions of sick living in the streets think its bad now
I cannot believe that Americans who are retired and rely on Social security Medicare could have voted for this man who will never allow you the right that you earn through working all your life for your Social security benefit. Now you are at risk of losing your benefits So what are you going to do? You think that you're ready to return back to the workforce and work until you drop dead because that's what you cost for all of us. I hope that you are happy with the decision that you have made.
11 дней назад
Trump has NESARA waiting to be announced...all SS get $5000 plus per month
I hope your SS benefits Increase and everyone’s increase. It’s already difficult to get SS, for people who are going through hardships. To rid of SS SSDI SSI etc., would be barbaric.
How about if the very wealthy pay their fair share of income taxes. I paid in 24% of my income while the very wealthy with their tax breaks paid as little as 7% in some cases.
@@1pcmedic Next time my casinos go bankrupt and my realestate decreases in value I'll be sure to claim those losses and pay only $750 in income taxes despite being a billionaire. Stop simping for the rich. SMH.
@@mamiemoncrief9664 Buy real estate, find out what items are deductible and focus there. I worked 3 jobs for many years to get ahead, where I am today. It was hard work 100hrs / week. You have to do what you have to do.
Social security is not taxed unless you are receiving over $25k from SS. And then, you only pay tax on the amount over $25k. Anyone getting less than $25k from SS nothing changes. You still won't paytax on it.
They say it's going to run out of money, with the country giving out money all around the world, maybe we will give out less money to other countries and just take care of our seniors
I worked and still working..retired early from my union job..union workers voted for Trump.. I voted for Harris,she’s was for union..union workers stabbed her in the back ..
Don't cry on my shoulders All of you Trump lovers are getting what you voted for. I told you so. But you were convinced to vote for Mr poopy pants. Ha-Ha. You sycophants will soon be wiping his reeking but hole. Trump laughs at you. And your stupidity.
Republicans have wanted to get rid of SS and Medicare for years, and they have shown they don’t care about their constituents. But I admire your optimism.
@@dodipalmer856 That is so true about the republicans. That is why I can’t understand why so many people voted for Trump and all those republicans congress and senate.
Not knowing about the possible impact the changes will have on people is very concerning. The SS SSDI SSI etc barbaric threats or (the plan) to make rash changes is crazy. Stating that food stamps is costing the country too much money is just silly. Dang it!
@@DougHanson2769 I didn’t vote for Trump never have and never will. But there are too much free benefits being given to people that are able to work. Some many young people are just working the system, having and keep having babies , with that said. They get free housing, food stamps, healthcare. Put these people to work. We have to pay for this. There are many single mothers working to take care of their children. Why are there so many young able to people getting all these benefits. If you can find some sorry man to have babies with, you need a job.
Your concern is absolutely valid. Social Security is essential for millions, yet its future feels uncertain due to funding issues. It’s frustrating to know that despite years of contributions, the program faces potential shortfalls that could affect benefits. Many feel this is unfair, especially for those who’ve counted on Social Security for retirement. Addressing this requires careful, sustainable changes to protect the benefits retirees have earned.
We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
I am 74 and started working when I was 15. The money I put into SS is my money, not the government's. If there is a shortfall, that's the government's issue, not mine. They will need to relocate funds from another account into SS to ensure people receive the money they paid in. Otherwise, that would be theft.
@Earthtime3978 I wish I had the links, but Google it, and there are economists and in one a high ranking banker who breaks down the numbers. It's terrifying.
Exactly, get EVERYONE working and it will pay for itself. Those with their hand out are not paying into it but want it to benefit them........Capitalism is the heart of the monetary generator.
I'm in the same boat. After being a lifetime renter, I finally had an opportunity to buy a house. I planned carefully so it would be affordable for the long-term. Now, all that is in jeopardy if Trump cuts Social Security benefits. Not only that, he plans on making homelessness a crime. He will be creating lots of criminals if he cuts people's Social Security benefits.
You get out of SS what you paid into SS. So, getting that little means you didn't work very much or earn very much to get very much when you retired. You get out what you put in. Simple as that.
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
All he has to do is this transfer $1 billion left over from the Defence budget that’s it Social Security. They have $1 billion left over every year from the Defence budget transfer to Social Security simple solution.
That's not how government budgets work. You don't take what's left over from the Defense budget, you CUT the defense budget. Any money allocated to the Defense budget remains in the Defense budget.
It seems we have a dumb bunny. Somebody thinks it’s Welfare Social Security as Welfare. No it’s not. They have been borrowing from Social Security without putting back for years when you find something that’s called superfluous meaning leftover just in case you all don’t have a vocabulary you transfer the money from one account to the other. I have a college degree economy 101 you put the money back when you borrow it you don’t borrow from an account and not put it back and put it in jeopardy you find out where you have money and you transfer it and you fix the solution which is exactly what I did for the person who thinks that I think it’s a welfare payment. You’re an idiot. I’ve never been on welfare my life actually I have a doctor degree degree and college graduatehonors, I know I had to fix the problem. That’s what I do.
I saw yesterday that Medicare is going up again to $1185.00. When I started it was $134.00 I pay now $178.00 now and than pay for D for meds than I pay $269 for plan F. This is a lot coming from my SS Check
Have you heard anything in regard to the windfall clause? Because I retired from the state of Colorado, I get only a portion of my entitled social security. It would be wonderful and extremely helpful if I could get my full amount.
Social Security currently takes a couple grand a year out of my check. Of course when I was younger and just getting started, it wasn't nearly that much. I've been working for 46 years. I get a couple grand a month in benefits. So in 12 months, I've been "paid back" 12 years worth of working. So in about 4 years, I'll have taken more than I actually paid in. How can a system like that keep afloat. Am I missing something? I know many people don't make it to retirement or put a lot more money in.
I'll never understand how is it that we be paying into Social Security for 30 years while working and we're ready to retire to get our social security how can you say that it's leaving when we put our money into it the people that work and retire how are they supposed to live If there's no funds
I don’t understand what you said about paying taxes on Social Security benefits increasing the Social Security trust fund. I thought the trust fund was funded solely through payroll contributions. Can you please clarify?
You're correct that the main funding for the Social Security Trust Fund comes from payroll contributions, specifically the Social Security taxes taken out of workers' paychecks. However, for certain retirees with higher incomes, Social Security benefits can also be taxed, and a portion of those tax revenues is directed back into the Social Security Trust Fund. This taxation on benefits is separate from the primary payroll tax funding, but it still provides additional revenue that supports the fund.
This is why your finances should be in your hands and not the governments. I'm all for social security becoming an option that I can choose to be left out of.
It’s understandable to be concerned. Social Security’s funding challenges mean that even with regular contributions from millions of workers, the program is facing a future shortfall. Factors like off-the-books employment, demographic shifts, and increased life expectancy all impact its sustainability. These concerns emphasize the need for thoughtful reforms to ensure the program can continue to support retirees and other beneficiaries.
@@RandyBaumery-s4i Coping won't help when the sick elderly lose their homes, suffer and die. What a way to treat Gramma and Grampa. Many of us are terrified, especially if we are too disabled to go back to work.
I worked for thirty four years for the post office. I did not pay social security taxes at that time. However I also worked 19 years paying social security taxes many of those years were after I retired from the post office. Why is it that I should get a reduced benefit for those years I worked paying taxes? My social security was being reduced by almost 60% but yet I was paying 100% of the taxes. It’s not fair at all. At the very least if I’m only getting a 40% benefit I should only be paying 40% of the social security tax.
How are some of these retired people making 200K a year. I work 43hrs/week and only make 50K before taxes and I can barely afford to rent. How do some of these people have so much money. They should definitely still need to pay taxes. Everyone needs to contribute to the national debt.
Just because he has all the means to support himself and family he could care for the less fortunate, because he has never been without, so he does not know how it feels to not have food on his table. But before he leaves this earth he will have a rude awaking, worse though will be when he meets our Heavenly Father.
The Social Security income deduction should be an option and not mandatory. Better yet , why have the Government be involved with your future plans at all ? Your future, your choice. We should have the right to invest in which ever way we choose for our retirement income .
Because 96 % Don’t understand or care what happens when they begin a career. When You where 17, 18, or 22 yrs old did you plan for social security payments? No ? Well 96% don’t. But by the time they are 50, they are glad they did. Soc is like an insurance where you pay X amount, The Gov knows you probably live 11.5 years after retirement and that’s what they base payment on. Some die sooner, some live longer but instead of walking around starving, waiting for the police to find your dead body in a ditch somewhere, they pay you til you die. Simple as that. Also at the end of WWII we came up with Medicare.
@johnhubble5373 And their lack to invest in their future should not infringe on those who choose to. The Government has proven that they can't save and use for our future what they have mandated to be taken from our income . Those working today are replacing what they used abusively on things other than Social Security payments to those who have worked for them . Money removed from one's income 40 years ago without taxes being taken at the rates back then would have been taxed at today's rates. Now at the least that will not be happening.
You're giving the American people too much credit. More than half voted for Trump, so they probably know little about finance. The government stepped in years ago (FDR), so there wouldn't be lines of people waiting for soup and bread like there was during the depression.
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Cutting taxes to stimulate the economy? Haven't we tried "trickle down economics" before and found that it doesn't work? Corporations increased stock buy back and executive compensation with their tax savings windfall.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Yes, truly, investing in the market, even if it's just the S&P 500, can keep up with inflation, because the growth rate of stocks will always exceed the inflation rate. But if you don't have the courage, you could just invest with a financial advisor, which even has greater return on investments, while securing your investment against losses.
@@Rachadrian Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!
@@michaelschiemer3 Trump's plans for more trickle down economics will result in the rich getting richer, this is the only idea that Republicans have, it has already been tried and does not help the average citizen at all.
Seniors should Not pay tax on their SS
@@abigailluisadavis5180 They generally don't. It's the ones who still have other income and learn above a cutoff point that do.
Those taxes help keep survivors and disability payments funded, look it up if you do not believe me.
I retired in 2006. My only income is from SS. There are no taxes on SS if that is one's sole source of income.
@ Unless you’re Warren Buffet and such. Yes, he gets SSA as well.
Social security has never been taxed unless you are receiving over $25k from SS. And then, you only pay tax on the amount over $25k.
I paid into social security. It was taken from my payroll check each pay period. What happened to the fund's taken from my check? This is so unfair to retired people.
When you pay into Social Security, the funds go to the Social Security Trust Fund, supporting current retirees. Due to an aging population and fewer workers paying in, the fund faces a shortfall, putting pressure on future benefits. This has led to debates on how to ensure its long-term sustainability, though solutions remain complex and uncertain.
Stolen and mismanaged to use for there own security and pet projects, I guess a majority of people are to scared of government retribution if they speak the truth and show facts of stolen taxpayers dollars , its it obvious our own Government using threats and intimidation to destroy its own citizens just to cover up not only there inadequacies but there fraud corruption. And treasonous acts against against Americans just to increase there own wealth and power
@@moneyinstructoreasy fix , stop using OUR taxpayers dollars for foreign aid over 200 billion in last 4 years , and how many more billions of taxpayers dollars over decades if our government used taxpayers dollars for there intended purpose for Americans and our infrastructure and national security or bringing down our deficit instead of lining the pockets of any country that crys they need money which our government freely hands out but let an American ask for som of there own tax dollars a youll hear is DENIED
So apparently @Moneyinstructer is on the same wave lenght as our Government and are trying to gaslight you asto the real reason SOCIAL SECURITY dont have enough money or why our DEFICIT DOESNG COME DOWN EVEN AS OUR TAXES GO UP . BOTTOM LINE CORRUPTION
@@moneyinstructorMost people don't see a dime they die before edible for funds. Millions people yearly .It got so big they had to mess with it. You won't see Congress pension funds get tapped to pay for Ukraine or Israel.Joke people scam even after you retire you might live ten years .
Why pay taxes on money that we already paid taxes on?
Did you pay taxes on your employer's contributions?
social security is not taxed when its deducted from your pay-check. When you start collecting social security the taxable amount is the one the employer contributed, hence about 50% of the amount you get will be taxable.
@@Eyeris625 True you don’t pay taxes on the Social Security money being deducted from your paycheck .
@Eyeris625 Social security IS a TAX. You're paying into the government as a tax, then you get it back later, but then they tax it when they give it back to you. The government has stolen from SS for years then complain its going bankrupt. We would have been better off if they would have let us take 25%-50% of the money we've been putting into SS to use in stocks rather than just an IOU from the government that's not guaranteed. We don't make interest on SS money, and they tax us when they give it back - it's a loss.
The contribution to SS taken out from everybody's paychecks is gross amount. So, they take your contributions BEFORE they apply the taxes on income earned. "The contribution to Social Security (SS) taken out from paychecks is a PERCENTAGE OF GROSS WAGES" In other words, nobody pays taxes when contributing. It's NOT double taxation. That's why they tax the amounts when people are receiving their monthly benefits, at federal level. Some states do not tax SS benefits. Others do. It has been considered gross income.
A 2.5 increase on social security in 2025 is an insult with health ins going up plus an increase in Medicare ins and medications
Answer: The rich stay rich by keeping the poor in a barely scraping by mode. they know poor people won't do anything about it . Because their busy trying to figure out how their going to make it on their measly income.
it is 3.2
@@fifthavenuegirlsocial security announcement for the increase is 2..5% announcement made October 15th
The 2.5% cost-of-living adjustment for Social Security in 2025 has raised concerns among beneficiaries, especially given rising healthcare expenses. While this adjustment will increase the average monthly benefit by about $50, many feel it's insufficient to offset the escalating costs of health insurance, Medicare premiums, and medications. For instance, Medicare Part B premiums are projected to rise from $174.70 to $185 per month in 2025, which could significantly reduce the net increase from the COLA. Additionally, prescription drug costs continue to climb, further straining retirees' budgets. These financial pressures highlight the challenges seniors face in maintaining their standard of living amidst modest benefit increases and growing healthcare expenses.
American has private health insurance & public. It’s the insurance companies that decides what will & will not be covered due to costs. Obama care was a supposedly fashioned to Canada’s health care system. WRONG!
There’s a misconception that Canada has free healthcare. WRONG! Canadians pay for healthcare through federal & provincial taxes.
The difference is a doctor MUST refer you to a specialist which can take days, weeks, months or years. Any mention of private health care is met with disdain.
President Reagan was the first to legislate taking money from the SSA trust. The bill to not tax SSA benefits has been before Congress, but they have failed to act. Contribution rates from payroll may need to be increased, by the time we file for our benefits, some of us have paid into the system for at least 40 years. It's not an entitlement, it's earned.
Yes, but the rich are greedy.They think of themselves.
You’re absolutely right. Social Security is indeed earned through decades of contributions, not an entitlement in the traditional sense. President Reagan’s administration introduced taxation on Social Security benefits for higher-income retirees in 1983, directing those funds back into the system to help cover costs as the program faced increasing demand. Since then, proposals to remove the tax on benefits have come up but haven’t passed, largely due to the financial strain on the system. Increasing payroll contribution rates is one possible solution under consideration, given that many Americans pay into Social Security their whole working lives. For retirees, it feels unfair to see funds taken from Social Security benefits when they’ve contributed for decades, and many agree that changes should aim to honor that commitment.
look out time do not stop for any body
I say the same thing, it is an accomplishment that takes time and work to achieve, not an entitlement
The tax on social security, was to help stabilize the program, because earlier people in office actually took money from program, which was supposed to be untouchable, but government officialls. But the first take from the program was in the 70s during the gasoline crisis. It was suppose to be a temporary loan to be used in the oil market than payed back but never was. There are 2 or 3 times before Reagan the government borrowed from it and never payed back. He signed, that tax act and an overseer committee, separate from the government , that ended anymore government money grabs on the program. Wasn’t no president that grabbed from the program, it goes threw congress and senate, president vetos , but it can passed it it goes threw both of them. His billed actually end that make it untouched by the government. I wasn’t a Reagan fan, I was in the marines when he was in office. I alway been an independent voter. Never believed in either party. I just voter for who has the better, understand of the people’s need and the countries needs
I paid in social security, I worked my entire life and now this. This is so unfair.
Social security not supposed to be tax at all
You’re correct-Social Security was originally designed to be tax-free. When the program began, benefits were meant to provide a financial safety net without the burden of taxes. However, in 1983, Congress introduced taxes on Social Security benefits for certain higher-income beneficiaries as part of a reform to help bolster the program’s funding. This change was made to address concerns about Social Security’s long-term sustainability, but it has remained a point of contention, especially for those who believe benefits should be untaxed given that they’re funded by workers’ contributions over their lifetimes.
@@moneyinstructorIt was actually instituted to help "Balance" his first Tax Cuts for the Rich to get passed in Congress.
@@moneyinstructor I don't know about that because the employer contributes about 50% and that is what is taxable.
Yes
@@moneyinstructor The Social Security tax on "higher income" recipients is the fine point. Those with higher incomes and various retirement packages come under different consideration. In this case, the tax on Social Security was based on the fact that these people did not need to rely on it as a sole means of retirement income. Second, this was a means to recover the funds that where stolen in the 1980s. The question is why this was allowed to happen since Social Security was never intended to be taxed. There also need to be an audit to be sure there is not fraud being committed with Social Security benefits and people receiving them that should not.
A CITIZENS MONTHLY SSI CHECK SHOULD NOT BE COUNTED AS INCOME AND THEREFORENOT TAXED
America will get what they voted for.
We didn't vote. We selected what they gave us, NOTHING!!!
Exactly
Unfortunately, the people who voted against Trump also suffer.
@@maryz9360exactly
All good, better than what we have had to deal with in the past years
My social security income and my son's social security income have been cut severely we struggle every month it takes all of our income just to pay utilities and there is nothing left .we have to depend on food banks ..I am going to say this right now .The government does not care about low income people ..I am a senior citizens .they do not care!
My dear. Not to worry. Trump will take good care of you and your son. LMAO!
Sorry to hear that for you and your son.
They don’t care about us and won’t help but still expect you to pay co-pay when you see the doctor at $65.00 co-pay and some of my meds are as high as $147.00 which I just do with out they don’t care , but I give it to the Heavenly Father he is still in control and he loves me. Minister B. Martel
It’s Republicans that don’t care about the poor and middle class. “ We’re rich as hell, and I’m gonna give you tax breaks….” Trump
If you voted for Trump. Karma!
Social security recipients should get 4k a month.
Yes quit sending billions over to those people who probably don’t like us anyway. That money could help social security a lot
@@davidhaley1776even if we do that, the money will not be allocated for social security. Republicans have always considered social security as an entitlement and have ALWAYS been in favor of cutting funding for such programs. It's the first conversation out of their mouth. Therefore, those dependent on it, will always be subjected to it being at risk of being reduced. Politicians could care less if the most vulnerable of us suffer. They will NEVER need it, and won't think twice about the sufferage of those who do. Let's just keep this real.
I agree. Even an extra $1,000 would be more comfortable. As it is, I have had to work occasional Part Time jobs to supplement my income from SS, and at 72, I am already exhausted from working for 50 years. And the work environment today is toxic and depressing.
@@davidhaley1776SS is supported by self contributions. It's not welfare
@@joltjolt5060 It's based on what you were able to earn. Someone like myself, who was growing increasingly disabled but still not qualifying for SSDI until near retirement, my lifetime earnings are on the low side. NOT LAZINESS, BUT NEUROLOGICAL ILLNESS IMPACTED. I would never be given anything near that amount.
I recommend everyone to find the book titled The Elite Society's Money Manifestation, It changed my life.
Also, The Planned Destruction of America. It will open your eyes.
I've been hearing about how Social Security money is going to run out for the last 30 straight years, and they keep kicking the can of the road on when it's going to happen.
It's fear-mongering, and they need to keep their dirty hands off of it.
They never talk about money running out for welfare, illegal immigrants, heap, etc. It's always about Social Security.
Get rid of the FICA Cap and make higher wage earners & employers put more revenues into the Fund!
That is a redistribution of wealth scheme - making people pay more into a system that they will not receive any benefits for. It is essentially making rich people pay for the benefits of poor people. Marx would be proud. I'm a 68-yr old SS retiree, who paid into the system for 45 years. I don't want someone else's money. I want a return on my own contributions and my employer's contributions on my behalf, adjusted for inflation, plus reasonable interest. I don't want, nor am I entitled to the contributions of others.
Not a good idea. Forcing people to pay more is not right. Politicians must keep their paws off. That is the answer.
@@SuperSushidog the system already redistributes too much to the wealthy, why not help the poor? How much you receive back is based entirely how long you live, so living long enough will exceed what you ever put into it...
@@gordygowdy7989 Some people are born to poor families with many disadvantages to overcome, while others are born to wealthy families with few disadvantages. While it may be difficult, some who are born poor and disadvantaged, maybe with a heroin addicted mother, may work hard, get a good education, make good decisions and occasionally even become vice president of the United States. While others, born with the proverbial silver spoon end up in disgrace, doing cocaine in the White House and selling out their country to foreign adversaries. Such is life. I don't think we should punish success with redistributive policies in order to achieve equity, as we will get less of it. And I don't believe government has the right to do so. Governments should strive for equality before the law, not redistributed equity. This is Marxism. However, we should encourage people at every level of achievement in our free society to be charitable and philanthropic with what they have earned.
I realize that if I live longer than average, I will receive some of the savings of people who live shorter lives than average. But this is way the SS retirement program was designed, like a pension fund. However, I had no say in its design or rules of operation, though I was forced to contribute into it over my entire life, which intitles me to the benefits as provided by law. This prevented me from investing this money in a vehicle as I saw fit, so I see no ethical problem receiving more money in benefits, according to the plan rules, than a participant who has died. This could have just as easily been me, and the dead have no need for money in the grave. So, by participating I am not depriving any living being the use of this money, as I would be if I took it from a living person who had earned it.
@gordygowdy7989 SS payments benefit the poor
I have 50 years in social security
With 50 years of contributions, you've certainly paid into Social Security for a long time, making it even more understandable to want the benefits you’ve earned to be fully accessible without additional taxes. For many like you who have contributed over decades, there’s a strong feeling that these benefits should come without further deductions, as they represent a lifetime of work and commitment to the system.
Congrats! start collecting 'cause you earned it and deserve it
Cover dental in Medicare upto 5k per year for teeth for senior after 64 or 65
I know people that paid into SS for many years, that died and NO ONE got to draw off of it. Where did that money go????? My ex is one of them. His brother is one of them. I know many more.
Are you his x wfe? If you were married 10 years when eligible, you can collect on his record if its higher than yours.
You voted for him now you are learning the truth
I didn't vote for him. I knew this. I wish I hadn't survived my brain damage 😢
Spot on
you deserve what trump does if you voted for him
@@dystoniaifynow don’t do that. Why be so defeated , is surviving a brain injury and still being able to interact and connect not a blessing? Y’all give up and in too easy just bc of something you don’t agree with. We didn’t vote for him but he’s here and he’s not God. Get serious about the higher power that saved you and remember what you think you manifest. Bless up and lighten your spirit. May you find healing and strength. This too shall pass.
And you didn't vote for anyone
We worked for our ssi
But, do you think he cares??
Don't confuse SSI with SS.
Guess you didn't read any pages of Project 2025. We pay and we all loose. Shovels and body bags. COWARDICE and hatered is in 1st gear. You rich.
You didn't work for SSI, that's welfare for people who didn't work enough to draw social security. It doesn't come out of social security funds.
@@SandfordSmythedont u confuse ssi w Ssd ty
The cost of living increase for 2025 is 2 or 3%. Insurance up 25%, gas up 50%, food up 25%. Yeah, 2% sounds fair.
It should have been 35 to 50 percent then it would be fair
to bad they rate it on the inflation maybe after trump raises our inflation it will go up some! but yea it sucks they can spend so much to help other countries and leave us elderly that built this country for fifty years paying in but our elected polititions just care about their pocket books not the people who made it for them to get their cush jobs!
Not to mention that every time the SS increase goes thru so does the Medicare part B premium. The increase in SS then becomes practically null and void.
They hate us
Plus the cars, appliances and other products break much faster than they used to. The food is so bad it's making people sick... if they knew.
Reagan was the one who started taxing social security.
Yep
Yep keep praising trickle down economics.
Lyndon Johnson raided the trust fund, long before Reagan.
Yea
taxing social security has helped it stay solvent with the increased people from ragan tell now on social security.
We need enough money to survive
I Don t want to pay taxes on social security
wait till you get older and try to live on what the cost of every will be by time you get to retirement age! and hope you don't get hurt to where you can't work like me in my position all I ended up with after my doctors bills !all I get is ssdi thank god barely got a roof over my head and no more steak and lobster!!good luck to everyone if s/s runs out! there will be millions of sick living in the streets think its bad now
I cannot believe that Americans who are retired and rely on Social security Medicare could have voted for this man who will never allow you the right that you earn through working all your life for your Social security benefit. Now you are at risk of losing your benefits So what are you going to do? You think that you're ready to return back to the workforce and work until you drop dead because that's what you cost for all of us. I hope that you are happy with the decision that you have made.
Trump has NESARA waiting to be announced...all SS get $5000 plus per month
Common Sense and that is a big reason the Demorat party suffered such a loss.
Are you naive enough to believe demonrats care about you? Turn off CNN, nobody is killing SS.
@jaya.0069 He literally tried to eliminate it each budget year of his 1st term. Congress stopped him.
yes it’s really sad you voted for someone that doesn’t care about no one but himself.
VP HARRIS AS YOU STAND YOUR GROUND, BE PROUD TO NOW YOU WARNED THEM.🎉
Agreed!
Lord Knows She Did.
Dont touch my ss benefits
I hope your SS benefits Increase and everyone’s increase. It’s already difficult to get SS, for people who are going through hardships. To rid of SS SSDI SSI etc., would be barbaric.
@@DougHanson2769it’s not going happen. This is fear mongering.
Don’t come on here and complain about Social Security now. Specially if you voted for Trump.
They are telling us we are not getting snap benefits and they are using them for themselves. Please investigate.
How about if the very wealthy pay their fair share of income taxes.
I paid in 24% of my income while the very wealthy with their tax breaks paid as little as 7% in some cases.
@@toscatattertail9813 I did too .
Everyone is entitled to the same tax breaks, you need to use them.
@ what tax break are you talking about , especially for singles. Who works and are taxed at a very high rate.
@@1pcmedic Next time my casinos go bankrupt and my realestate decreases in value I'll be sure to claim those losses and pay only $750 in income taxes despite being a billionaire. Stop simping for the rich. SMH.
@@mamiemoncrief9664 Buy real estate, find out what items are deductible and focus there. I worked 3 jobs for many years to get ahead, where I am today. It was hard work 100hrs / week. You have to do what you have to do.
WE WILL FEEL THE PAIN.
Been feeling the pain in WA for 30yrs !! Nothing new!!
Social security is not taxed unless you are receiving over $25k from SS. And then, you only pay tax on the amount over $25k. Anyone getting less than $25k from SS nothing changes. You still won't paytax on it.
It varies from state to state!
Who can live $25,000 a year? No one in this country.
We pay on my husband's social security. He falls below the threshold but I am still working so my wages put us over.
@@bayonnealice7540ditto 😊
@@Mad4MM tons of us working poor do!!! No food stamps. No assistance. Just work
They say it's going to run out of money, with the country giving out money all around the world, maybe we will give out less money to other countries and just take care of our seniors
We can only hope!
I worked and still working..retired early from my union job..union workers voted for Trump.. I voted for Harris,she’s was for union..union workers stabbed her in the back ..
Yes they certainly did!
then why didn't union endorse her?? Because she really did not support the middle class. She is a liar
Of course the poorest get nothing.
Everything we put in is what we should get back period.
Don't say that, your payments would be finished in about 2-3 years.......
I'm terrified
Why …? Ending taxis is GOOD , money in our pockets
Not when social security depends on those taxes to help fund it for you the American elderly
@@nickatanassov104
@@nickatanassov104it will cut ssdi by 33% in 6 years
@@jillmoser3586 Thank you. My point exactly.
it’s amazing that folks heavily dependent on Social Security benefits voted for Trump. The guy is a genius at bullshoting the gullible.
Trump is the greatest con man I've seen in my life. Then he got the billionaires to help him con over 70 million Americans.
They will have buyers remorse
YES. If they would STOP buying the crap donnie sells them, they could afford eggs!
Don't cry on my shoulders All of you Trump lovers are getting what you voted for. I told you so. But you were convinced to vote for Mr poopy pants. Ha-Ha. You sycophants will soon be wiping his reeking but hole. Trump laughs at you. And your stupidity.
They voted for Trump because they can no longer afford groceries.
Republicans have wanted to get rid of SS and Medicare for years, and they have shown they don’t care about their constituents. But I admire your optimism.
@@dodipalmer856 That is so true about the republicans. That is why I can’t understand why so many people voted for Trump and all those republicans congress and senate.
I don;t admire anyone's optmism on Trump
They voted the Communist Demorats out and that is good enough for me.
I am concerned about my current benefits being decreased, but I feel better after listening to your video.
Thank you
You are so welcome
Funds would never run out if they would stop sending billions to other country's
That is total Bull!!
Social Security is an entirely separate bucket of $$. It CANNOT be used ANYWHERE slse.
That’s not how it works. Don’t worry Trump will take care of. 🙂
That’s what you think . You see what trump will do .
When ya can’t spell countries, your opinion doesn’t matter.
The point is they should not be using that money for anything else
Your podcast on SS does bring me some relief,as im a soon to be recipient of SS in the next 2years! TY! 👍
Not happy at all 😳
Seniors should get all of their money, taxes has already been paid on social security. Give them more money
I am very concerned of what kind of changes will it be
Whatever happens we blame the ones who voted for him
Not knowing about the possible impact the changes will have on people is very concerning. The SS SSDI SSI etc barbaric threats or (the plan) to make rash changes is crazy. Stating that food stamps is costing the country too much money is just silly. Dang it!
@@DougHanson2769 I didn’t vote for Trump never have and never will. But there are too much free benefits being given to people that are able to work.
Some many young people are just working the system, having and keep having babies , with that said. They get free housing, food stamps, healthcare. Put these people to work. We have to pay for this. There are many single mothers working to take care of their children. Why are there so many young able to people getting all these benefits. If you can find some sorry man to have babies with, you need a job.
Concerned!
Your concern is absolutely valid. Social Security is essential for millions, yet its future feels uncertain due to funding issues. It’s frustrating to know that despite years of contributions, the program faces potential shortfalls that could affect benefits. Many feel this is unfair, especially for those who’ve counted on Social Security for retirement. Addressing this requires careful, sustainable changes to protect the benefits retirees have earned.
We experienced the peak of our era, and now it is gone. Recession is tanking everything including 401K. My retirement equities portfolio of $750K is in the reds. I keep losing because of inflation. This world will fall to the corrupt rulers in the same way that Rome did. I'm sorry if you're thinking about retiring and you're worried that your pension won't be enough to meet the rising cost of living. Horrible foreign policies everywhere, bad regulatory policy, bad fiscal policy, and bad energy policy.
For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time
I am 74 and started working when I was 15. The money I put into SS is my money, not the government's. If there is a shortfall, that's the government's issue, not mine. They will need to relocate funds from another account into SS to ensure people receive the money they paid in. Otherwise, that would be theft.
SS pays what is paid into it.
The Demorat government giving it away to the illegals. They want them not you. Be glad Trump is in office he will change all that.
I don't trust Trump at all, so as a disabled oldlady, I am terrified.
Me too ...
You're lucky your old. I have decades to suffer crippled, blind and in hell😢
@@dystoniaify Oh my dear! How can a country with a conscience treat us like this?
A couple of words on a RUclips video are not gospel. They’re not going to cut or take away SS.
@Earthtime3978 I wish I had the links, but Google it, and there are economists and in one a high ranking banker who breaks down the numbers. It's terrifying.
Very concerned, especially the next 4 years, rich get richer, the poor get poorer.
Just bring back the factories and or the manufacturing business to the states.
Exactly, get EVERYONE working and it will pay for itself. Those with their hand out are not paying into it but want it to benefit them........Capitalism is the heart of the monetary generator.
OFFS get off the train please. How long do you think it will take to construct those factories and train the workforce???? MAGA dreams
You have to pay the higher prices that US manufacturing causes.
@@stella-gx8ne They should never have left, Joe JO dreams. We wouldn't be in this situation in the first place.
I don't get my financial and estate planning from a.. cartoon...✌️😎💀🤔
Though, let’s not forget, Homer Simpson once went to space-most of us are still trying to figure out our Wi-Fi. Cartoons are low-key brilliant! 🚀🍩
Thank you for an excellent, balanced take on this important topic.
Glad it was helpful!
This is my main concern. SS is my only income. If something happens to it, I will be a disabled homeless person 😭.
Same here.
I'm in the same boat. After being a lifetime renter, I finally had an opportunity to buy a house. I planned carefully so it would be affordable for the long-term. Now, all that is in jeopardy if Trump cuts Social Security benefits. Not only that, he plans on making homelessness a crime. He will be creating lots of criminals if he cuts people's Social Security benefits.
My SSI is $943.00 a Month to Live on :(
Mine, too. Plus 23$ from NY.
You get out of SS what you paid into SS. So, getting that little means you didn't work very much or earn very much to get very much when you retired. You get out what you put in. Simple as that.
and I thought mine tucked. I'm sorry. Hope you ok
Nothing should be done that is our money
There should not be any Taxes on SSN and Part A and B should be free bo charges
Social Security Number?
Well done and excellent reminder.
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
Thank you for the explanation!! I needed to hear this.
You are so welcome!
All he has to do is this transfer $1 billion left over from the Defence budget that’s it Social Security. They have $1 billion left over every year from the Defence budget transfer to Social Security simple solution.
SS is supported by individual contributions.
They should take the billions sent overseas and make an individual contribution to social security. That would really and truly be America first
That's not how government budgets work. You don't take what's left over from the Defense budget, you CUT the defense budget. Any money allocated to the Defense budget remains in the Defense budget.
@davidhaley1776 That's not an individual contribution.
SS is earned by individuals. It is not a welfare payment.
It seems we have a dumb bunny. Somebody thinks it’s Welfare Social Security as Welfare. No it’s not. They have been borrowing from Social Security without putting back for years when you find something that’s called superfluous meaning leftover just in case you all don’t have a vocabulary you transfer the money from one account to the other. I have a college degree economy 101 you put the money back when you borrow it you don’t borrow from an account and not put it back and put it in jeopardy you find out where you have money and you transfer it and you fix the solution which is exactly what I did for the person who thinks that I think it’s a welfare payment. You’re an idiot. I’ve never been on welfare my life actually I have a doctor degree degree and college graduatehonors, I know I had to fix the problem. That’s what I do.
We have known for decades that social security was having problems and BOTH parties have done nothing about it
Thank you Money instructor. You are very knowledgeable and explained this in simple plain English.
Glad it was helpful!
Just wait. Evil won.
You havn't seen evil yet.
They chose evil. It didn’t win on it's own
I saw yesterday that Medicare is going up again to $1185.00. When I started it was $134.00 I pay now $178.00 now and than pay for D for meds than I pay $269 for plan F. This is a lot coming from my SS Check
They pick him so now suffer the consequences
We will ALL suffer
We work our whole lives and paid into SS so we have a right to our own money.
i’m terrified for myself but can’t wait for the reactions of all the trumpies when they feel the pain of everything
Same here!! I am 63 and really worried 🙁. But some of my idiotic friends think trump is so great!! 🤬🤬🤬 Or think all this a lie.
President Trump will not cut social security, stop being so scared.
I give it a year, before they drive us into a ditch. 😫
Perhaps just praying for everything is better . Being evil and waiting for bad or evil things isn't going to help you.
This would be great if we could get this raise
Ending 1040 taxes on SS benefits does not affect the SS Trust Fund
I heard that the "no taxes on Social Security" will make Social Security go insolvent three years earlier.
@cincygal4490 not true. No tax on tips will affect the SS Trust Fund.
@@cincygal4490how. As far as I know income tax does not got to social security fund. Just payroll tax not income tax
Have you heard anything in regard to the windfall clause? Because I retired from the state of Colorado, I get only a portion of my entitled social security. It would be wonderful and extremely helpful if I could get my full amount.
@@judyhoover8160 It's still waiting for attention from Congress.
@ Thank you
When does Trump or the Republican Party care about the average citizen?
Social Security currently takes a couple grand a year out of my check. Of course when I was younger and just getting started, it wasn't nearly that much. I've been working for 46 years. I get a couple grand a month in benefits. So in 12 months, I've been "paid back" 12 years worth of working. So in about 4 years, I'll have taken more than I actually paid in. How can a system like that keep afloat. Am I missing something? I know many people don't make it to retirement or put a lot more money in.
Taxes on social security go to to federal government not back to social security
The tax was deliberately set up to put more money in SS.
Yes I am concerned because I am disabled and retired with several lung problems
I'll never understand how is it that we be paying into Social Security for 30 years while working and we're ready to retire to get our social security how can you say that it's leaving when we put our money into it the people that work and retire how are they supposed to live If there's no funds
I don’t understand what you said about paying taxes on Social Security benefits increasing the Social Security trust fund. I thought the trust fund was funded solely through payroll contributions. Can you please clarify?
If your still working
Taxes go to SS.
You're correct that the main funding for the Social Security Trust Fund comes from payroll contributions, specifically the Social Security taxes taken out of workers' paychecks. However, for certain retirees with higher incomes, Social Security benefits can also be taxed, and a portion of those tax revenues is directed back into the Social Security Trust Fund. This taxation on benefits is separate from the primary payroll tax funding, but it still provides additional revenue that supports the fund.
@ thank you. I never knew that
This is why your finances should be in your hands and not the governments. I'm all for social security becoming an option that I can choose to be left out of.
Concern
It’s understandable to be concerned. Social Security’s funding challenges mean that even with regular contributions from millions of workers, the program is facing a future shortfall. Factors like off-the-books employment, demographic shifts, and increased life expectancy all impact its sustainability. These concerns emphasize the need for thoughtful reforms to ensure the program can continue to support retirees and other beneficiaries.
Use the money given to Illegals, UN and othercountries should be given to SSI.
Postponing our retirement cause King Trump is back pointing out what's wrong and who's to blame....
Simple solution:
Increase the FICA deduction.
FDJT.
Cope harder😅😅😅😅😅😅😅😅😅😅😅😅
@@RandyBaumery-s4i Coping won't help when the sick elderly lose their homes, suffer and die. What a way to treat Gramma and Grampa. Many of us are terrified, especially if we are too disabled to go back to work.
@@patriciaroysdon9540 I've read that SWEDEN has invented an escape device to a better planet. They are called SARCO PODS.
@patriciaroysdon9540 The lovers of liberal tears don't seem to understand, everyone will be affected.
No one in their right mind wants to do that. You don't know what kind of diseases you could get
We paid into this our whole working lives. This is not entitlement.
Get ready maga, we are in the same line.
Awesome!
I'd like to know where all that trickle down economics went
@@DebaDoo2 That’s a problem within itself. It doesn’t get trickled down. It stays with the billionaire.
Just raise the income threshold to 60K before the gov wants to take it back with a tax.
People already seeing they got played 😂😂😂😂and when it all get unleashed rich will be laughing eating at Putin House America new friend
Need to know more
The act of putting tariffs alone causes every body's power of adquisition to seriously shrink, 🇺🇸🐙👈.
Cry me a handful.
Do said taxes go back into as fund or what? Where do those taxes go?
Tax the companies for their employees’ retirement fund.
I worked for thirty four years for the post office. I did not pay social security taxes at that time. However I also worked 19 years paying social security taxes many of those years were after I retired from the post office. Why is it that I should get a reduced benefit for those years I worked paying taxes? My social security was being reduced by almost 60% but yet I was paying 100% of the taxes. It’s not fair at all. At the very least if I’m only getting a 40% benefit I should only be paying 40% of the social security tax.
How are some of these retired people making 200K a year. I work 43hrs/week and only make 50K before taxes and I can barely afford to rent. How do some of these people have so much money. They should definitely still need to pay taxes. Everyone needs to contribute to the national debt.
It will deplete the trust fund!!!
There will always be rich people but those are those people that provide jobs for others.
@@barbarajones933 They mostly don't. For most, it's more money, more money, we are richer and enjoying it...
Oh no, don't start crying. You'll voted for this.
Just because he has all the means to support himself and family he could care for the less fortunate, because he has never been without, so he does not know how it feels to not have food on his table. But before he leaves this earth he will have a rude awaking, worse though will be when he meets our Heavenly Father.
Thanks for the insight
My pleasure!
The Social Security income deduction should be an option and not mandatory. Better yet , why have the Government be involved with your future plans at all ?
Your future, your choice. We should have the right to invest in which ever way we choose for our retirement income .
Because 96 % Don’t understand or care what happens when they begin a career. When You where 17, 18, or 22 yrs old did you plan for social security payments? No ? Well 96% don’t. But by the time they are 50, they are glad they did. Soc is like an insurance where you pay X amount, The Gov knows you probably live 11.5 years after retirement and that’s what they base payment on. Some die sooner, some live longer but instead of walking around starving, waiting for the police to find your dead body in a ditch somewhere, they pay you til you die. Simple as that. Also at the end of WWII we came up with Medicare.
Because people dont think ahead
@johnhubble5373 And their lack to invest in their future should not infringe on those who choose to.
The Government has proven that they can't save and use for our future what they have mandated to be taken from our income .
Those working today are replacing what they used abusively on things other than Social Security payments to those who have worked for them .
Money removed from one's income 40 years ago without taxes being taken at the rates back then would have been taxed at today's rates.
Now at the least that will not be happening.
President Bush wanted to do that change but none of the politicians would get with him
You're giving the American people too much credit. More than half voted for Trump, so they probably know little about finance. The government stepped in years ago (FDR), so there wouldn't be lines of people waiting for soup and bread like there was during the depression.