AMAC Magazine Exclusive – Social Security: Now and the Future
Posted on Wednesday, January 6, 2021
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by
The Association of Mature American Citizens
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5 Comments
Gerry Hafer, Executive Director of the AMAC Foundation reviews the most recent Trustees’ report and future impacts to Social Security. You can read it in the December 2020 issue of the AMAC Magazine, Volume 14 – Issue 6.
Monthly SS benefit checks are biggest source of income for millions of citizens in United States. Make the changes needed to keep this fund solvent (such as raise payroll taxes & fix the top wage limti to at least $400K. Write your representatives & tell them: KEEP SOCIAL SYSTEM SOLVENT AND do not get rid of it to sweep mishandling under the rug.
JohnH
2 years ago
Have not read anything on Trump’s plan last year. He said that people could defer FICA taxes for rest of year 2020 & if reelected would forgive the deferrals. Also he planned on putting Social Security in the General Fund. What happened to people that deferred? Did they have to pay this at tax time. Also, I still read Social Security is okay until 2034-35 so why did Trump want to roll this into General Fund in year 2021?? I am worried the Federal Government is not fully aware of how many retired people in the United States count on this as their main source of income to survive.
And the way I understand it, the US govt. must pay back the money they have borrowed from the SS fund & if rolled into General Fund this would be hidden/disappear.
Ira Sterling
3 years ago
Just read your latest article on Social Security, and thought I would throw my two cents worth in. My solution is way toooo far out for almost anyone in the government, but I cannot honestly see any other way to truly sav It. First of all, it MUST be put back into its private account where it cannot be used for anything other than Payments made to legitimate recipients who have spent a “lifetime” of work paying into the system. No ifs ands or buts—nothing else. There will be no more welfare or anything else taken out for any reason or purpose, no paying for Pork barrel projects–nothing. This will save us at least 550 to 850 billion dollars every year in welfare alone. When I speak of welfare, I am covering the waterfront–no food stamps, no educational funds, no medicare or medicaid, housing, nothing–just Social Security PERIOD. If this is done, Social Security will son rebuild itself to what it was before LBJ and his minions put it into the general fund and began to rob it blind.
Ira Sterling
3 years ago
Just read your latest article on Social Security, and thought I would throw my two cents worth in. My solution is way toooo far out for almost anyone in the government, but I cannot honestly see any other way to truly sav It. First of all, it MUST be put back into its private account where it cannot be used for anything other than Payments made to legitimate recipients who have spent a “lifetime” of work paying into the system. No ifs ands or buts—nothing else. There will be no more welfare or anything else taken out for any reason or purpose, no paying for Pork barrel projects–nothing. This will save us at least 550 to 850 billion dollars every year in welfare alone. When I speak of welfare, I am covering the waterfront–no food stamps, no educational funds, no medicare or medicaid, housing, nothing–just Social Security PERIOD. If this is done, Social Security will son rebuild itself to what it was before LBJ and his minions put it into the general fund and began to rob it blind.
Gerry Hafer, Executive Director of the AMAC Foundation reviews the most recent Trustees’ report and future impacts to Social Security. You can read it in the December 2020 issue of the AMAC Magazine, Volume 14 – Issue 6.
Monthly SS benefit checks are biggest source of income for millions of citizens in United States. Make the changes needed to keep this fund solvent (such as raise payroll taxes & fix the top wage limti to at least $400K. Write your representatives & tell them: KEEP SOCIAL SYSTEM SOLVENT AND do not get rid of it to sweep mishandling under the rug.
Have not read anything on Trump’s plan last year. He said that people could defer FICA taxes for rest of year 2020 & if reelected would forgive the deferrals. Also he planned on putting Social Security in the General Fund. What happened to people that deferred? Did they have to pay this at tax time. Also, I still read Social Security is okay until 2034-35 so why did Trump want to roll this into General Fund in year 2021?? I am worried the Federal Government is not fully aware of how many retired people in the United States count on this as their main source of income to survive.
And the way I understand it, the US govt. must pay back the money they have borrowed from the SS fund & if rolled into General Fund this would be hidden/disappear.
Just read your latest article on Social Security, and thought I would throw my two cents worth in. My solution is way toooo far out for almost anyone in the government, but I cannot honestly see any other way to truly sav It. First of all, it MUST be put back into its private account where it cannot be used for anything other than Payments made to legitimate recipients who have spent a “lifetime” of work paying into the system. No ifs ands or buts—nothing else. There will be no more welfare or anything else taken out for any reason or purpose, no paying for Pork barrel projects–nothing. This will save us at least 550 to 850 billion dollars every year in welfare alone. When I speak of welfare, I am covering the waterfront–no food stamps, no educational funds, no medicare or medicaid, housing, nothing–just Social Security PERIOD. If this is done, Social Security will son rebuild itself to what it was before LBJ and his minions put it into the general fund and began to rob it blind.
Just read your latest article on Social Security, and thought I would throw my two cents worth in. My solution is way toooo far out for almost anyone in the government, but I cannot honestly see any other way to truly sav It. First of all, it MUST be put back into its private account where it cannot be used for anything other than Payments made to legitimate recipients who have spent a “lifetime” of work paying into the system. No ifs ands or buts—nothing else. There will be no more welfare or anything else taken out for any reason or purpose, no paying for Pork barrel projects–nothing. This will save us at least 550 to 850 billion dollars every year in welfare alone. When I speak of welfare, I am covering the waterfront–no food stamps, no educational funds, no medicare or medicaid, housing, nothing–just Social Security PERIOD. If this is done, Social Security will son rebuild itself to what it was before LBJ and his minions put it into the general fund and began to rob it blind.