Preserving and strengthening Social Security for Washington State
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Read 14 hours ago and current, but nothing has been published for 2 years.
A new proposal has Social Security and Medicare in the crosshairs. Here’s what you can do. There’s a lot of scaremongering out there about Social Security’s financial situation – but the bottom line is simple: the Social Security 2023 Trust Fund report projects that this essential program can pay all benefits in full and on … Continue reading Which Washington Member of Congress is Going After…
It’s time for everyone to pay the same Social Security tax rate – on all of their income With every paycheck, both workers and employers contribute to Social Security. When we reach retirement age – or face extenuating circumstances like a disability or the death of a breadwinner – we are protected by modest but … Continue reading Hey Congress: “Scrap the Cap” to Strengthen Social Security for…
With every paycheck, we contribute to Social Security, and so do our employers. That’s how the program is funded. Then when we reach retirement age, incur a disability, or if a breadwinner dies, we are protected by modest but dependable monthly benefits. Maids, mechanics and millionaires – nearly all of us are covered because nearly … Continue reading Scrap the Cap: Strengthening Social Security…
[Forbes] The Covid-19 recession, like all recessions, threatens the wealth and retirement security of millions of workers. Job loss prompts people to stop saving, raid their nest eggs or go into debt by falling behind on their rent and mortgage payments. Most workers nearing retirement had insufficient retirement savings even before the recession, and many … Continue reading Covid-19 Is Most…
[via Social Security Works] Today’s federal minimum wage[1] is only $7.25 an hour. It is worth less and buys less than it did a half century ago.[2] At the same time, the United States is at its wealthiest moment in history. The inadequate minimum wage hurts low-wage workers. In fact, it hurts all workers,[3] as … Continue reading Enacting a $15 Minimum Wage is a Win for Social Security
[Via NCPSSM] Today is the day most millionaires stop paying into Social Security for the rest of the year, while most of us will continue contributing FICA payroll taxes through the end of December. The payroll tax cap for 2021 is $142,800 in annual wages. As of today, the average millionaire has already grossed more than that; … Continue reading Millionaires Are Done Paying Into Social Security…
President Joe Biden, Congressman John Larsen, and Senator Bernie Sanders have each proposed a plan to expand Social Security. Biden’s offers a modest benefit expansion and would solidify the program’s finances until 2039; Sanders’ and Larsen’s bills provide for additional benefits and would secure funding to 2071 and 2092, respectively. Legislative action could come as … Continue reading Biden has…
Donald Trump’s obnoxious effort to plant a fifth column of administrative vandals inside federal agencies just before President Biden’s inauguration has been widely reported. The situation at the Social Security Administration is a little different. There, the vandals weren’t installed just lately, but back in 2019. That doesn’t make their removal any less urgent, since … Continue reading Column:…
President-elect Biden and several Democratic lawmakers all have strong proposals to expand Social Security benefits and raise taxes on the wealthy. The presidential transition may also trigger changes at the top of the Social Security Administration. [Via CNBC] Biden’s Social Security platform includes key benefit increases. Eligible workers would get a guaranteed minimum benefit equal … Continue…
[Teresa Ghilharducci | Forbes.com] Most likely you will pay your Social Security taxes all year round. But some high earners will stop paying before their hangover headache hits in the wee hours of New Year’s Day. Social Security benefits are paid by the FICA tax, which is 12.4% of pay (split evenly between the employer … Continue reading Raise The Social Security Cap – Now The Rich Pay Through…
