The 11th-hour Congressional approval of The Social Security Fairness Act—House Bill HR 82—has generated a burst of attention across the media, with dueling positions either supporting the decision or speaking out against it. In the middle of the controversy is a confused public trying to make sense of what most experts agree is a complicated and poorly understood segment of Social Security’s often perplexing rulebook.
One major news station in Florida—WKMG News 6 in Orlando—opted to step in and help clarify the intent of the legislation, enlisting support from AMAC Foundation’s acclaimed Social Security Advisory Staff to provide commentary on this significant change in Social Security’s benefit calculations. Russell Gloor, an AMAC Foundation certified Social Security Advisor, joined News 6’s Laverne McGee in a virtual interview to discuss the legislation and its impact on Floridians.
AMAC Foundation’s Social Security Advisory Service is available free of charge to the public, featuring a staff of trained and accredited professionals providing assistance to folks needing to understand how the regulations apply to their personal situation. Visit the Foundation’s website to learn more about this service or contact the Foundation at 888-750-2622. Email inquiries can be submitted to [email protected].
Those media folks need to read Tom Margenau’s article posted on AMAC.us because they don’t seem to properly understand the reality of what House Bill HR82 (Social Security Fairness Act) actually does. And typical of government bills, the names given bills (to me intentionally) hide the real purpose/action of the bill.
The interview COULD HAVE told the whole truth about the 40%/90% and how the unions were in favor of this!! This royally crews the rest of us “poor” seniors! I hit my FRA this year, probably would have waited until 70 but now, I iwll be forced to claim early just to make sure I get something. I have NO FAITH in Congress to “fix” the SS system.
It would be a much bigger support to News if AMAC would include a comprehensive article on Social Security history & what AMAC pushing for changes. This program is too important to Americans to let it get lost in a black hole or paid by increasing debt dollars.
It is my understanding that the Government pays interest to the Trust Fund on the the money they have borrowed over the years. How much a year is that interest , as I have read that this interest is close to $1 Trillion per year? And assume that interest is paid by increasing debt & that no principal has been paid down for a few years ?