HUGE Change to Social Security About to Drop! (Hopefully)

preview_player
Показать описание
================================

My course "Everything You NEED to Know About Investing" will help reduce your stress when it comes to your investments.

Get it here:
and don't forget there IS a 30 day money back guarantee if you're not satisfied!

Get my books on Audible here:

My Amazon Product page:
Anything you buy there Amazon pays me a commission. Much appreciated!

GET MY BOOKS:
ALL are FREE to Kindle Unlimited Subscribers!

You Can RETIRE on SOCIAL SECURITY:

The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It:

Strategic Money Planning: 8 Easy Ways To Put Your House In Order

GET ALL MY LATEST BLOGPOSTS:
Рекомендации по теме
Комментарии
Автор

My wife worked, paid into Social Security for over ten years before going to work as a Texas teacher. The benefit she should receive for her ten years paying into Social Security is greatly reduced because she subsequently worked as a Texas teacher.

stevennevins
Автор

While this is great for those people……end taxes on SS…..period!! Thats a huge win for all seniors, courtesy of the GOP

markkeller
Автор

I Paid into SS for 23 years. Now work a correctional officer in Ohio. Windfall act would reduce my SS by $900

chuck
Автор

Hell No! If they did not pay into it, they do not deserve to get it!

mrc
Автор

Not bad Congress. Now increase the annual income amount before SS is taxable to reflect inflation (currently 25k singles and 32k married couples).

BossTweed-mjjp
Автор

I am a retired police officer. I have been waiting and contacting my representatives since 1986 for this. I have since given up and plan on taking my my SS in April 2025. If it doesn't go through this year, as I said, I'm giving up and will take it at my FRA in 2025.

TES-btsv
Автор

The petition was filed by Democrat Abigail Spanberger and Republican Garret Graves and received a total of 218 signatures—47 Republicans and 171 Democrats. Bipartisan is not a 4 letter word.

SteveH-FranH
Автор

So, I pay social security for 45 years and get a modest benefit. Cops, teachers, and firemen in California do NOT pay into social security, retire earlier and now they are going to get benefits?! WTF ? how is that fair?

rickybosephus
Автор

The discharge petition was made successful by the vast majority of DEMOCRATS voting for it. GOP leader Johnson refused to bring it up to vote.

MrSteeDoo
Автор

Most public employees get pretty sweet pensions often with medical for life, and can often retire much earlier than the rest of us with Social Security. Sorry this is a Bad Idea, it will give more to those who already collect more benefits and bankrupt Social Security sooner.. Bad Idea. Even PAWblo can do this math..!

PhilSallaway
Автор

My wife did not work long enough in the private sector to get SS benefits. She retired from teaching and collects a pension and, at the time of retirement, chose a lesser pension amount so if she passes first, I will get the same amount for the rest of my life. So, because of the GPO, my wife's SS spousal benefit will be reduced by 2/3 of her pension. The amount will be zero with the cost of Medicare Part B. But if she passes and I get her pension, there will be no penalty on me because I didn't earn the pension. If I pass first, her income will be severely penalized whereas mine would not be at all if I am the survivor. Yes, it is unfair. Because of this unfair rule, I chose to collect SS at my FRA and I'm saving about 95% of it so my wife will have that much more in the long run. I am all for eliminating the WEP and the GPO.

torchape
Автор

Unfortunately, the WEP referred to "Windfall" for a reason. Because lower earners get artificially higher benefits than those who contributed more into the system, it appears the WEP attempted to exempt folks who were actually NOT that poor from receiving the oversized benefit for those who paid in little.... Because they had another job, for which they earned a pension, and "public service" pensions are a GIANT boondoggle, some paying out 100% of last year of pay! And the people carrying this burden, in the private sector. are ALSO getting their SS contributions stolen, and handed out to someone else who paid less but are more priveleged. I don't think ANYONE should get more than they paid for. This bill is just bureaucrats feathering the "public servant" bed, probably for their own benefit as well. Unfortunately, it RIPS OFF those who legitimately supported the fund.

athletikonaol
Автор

Josh, did you say that they did not contribute to Social Security? If not, then why would they get the same amount of benefit percentage as those that did?

greenwil
Автор

BS; if you did not contribute fully you should not collect full benefits, as a cop with 38 yrs I fully contribute to SS unlike others that did not!

fuzzresponder
Автор

If you worked in a state that did not require you to pay into social security, why would you be eligible to take payment now?

barbaraadams
Автор

Seems fair to me, but where is the government revenue for this now going to come from? Probably the rest of America once again. Is it fair that since we didn't get to work for an entity that gave us a pension, we should have our taxes raised even slightly to cover this? How about taking it back from student loan forgiveness? We're tired of paying for other peoples mistakes.

jameslongstreet
Автор

It’s not fair and shouldn’t be eliminated unless regular SS recipients can collect SS at 50 like most government employees. Another issue is they don’t get there pensions reduced if they make over $22k a year (under 67) like normal people. Unless these changes are made (and a few others), the law should not be changed

Liledgy
Автор

Josh, per the RC analysis you did for us, this is HUGE for my wife that worked and paid into the SS system for years and was a teacher in TX for 8 or 9 years that was reducing her EARN SS by 45%. She would have been better off not teaching at all from a SS lifetime benefit. We hope it passes!!

rogerfrakes
Автор

Are they getting a govt pension? This is a very confusing post

andywebb
Автор

Thanks Josh one of the benefits of being a public worker even though the pay was lower, was that the benefit was secure and cola protected in the old days. Ha ha

brucesmith