Blog
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We already knew Social Security benefits were rising 2.5% due to the Cost of Living Adjustment (COLA). We now know Medicare premiums will increase, as well, cutting into the increase for most recipients. Centers for Medicare and Medicaid Services (CMS) has announced the part B premium for most recipients will increase by $10.30 from $174.70…
3+ weeks ago -
Just when the Social Security Agency finally had a progressive, engaged commissioner in former mayor of Baltimore and governor of Maryland, he’s gone. Effective November 29th Martin O’Malley is resigning to run for chairman of the Democratic National Committee. Among other positive changes made during O’Malley’s all too brief tenure as commissioner was modification of…
a month+ ago
News
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Summer 2021 Newsletter STILL STANDING…AND PRACTICING I published the first issue of Social Security & You in Spring of 1993. Some years I’ve published more issues than others. The most recent issue was dated Spring 2019: over 2 years ago. The world was a much different place then. Especially for me. Read the full newsletter…
3+ years ago -
Spring 2019 Newsletter An Opioid Story I’ve changed his name. Let’s call him Gerald. He was a laborer. And by that I don’t mean that he just did physical work. He was a card-carrying member the Labor’s Union local. And that meant a lot to him. I represented him for Social Security disability and Michigan…
5+ years ago
WHAT ARE THEY THINKING?
In the face of dire forecasts over the future of the Social Security Retirement, Survivor and Disability trust funds the Congress passed in early February and President Obama signed legislation that will extend through the end of 2012 the “temporary” Social Security payroll tax deduction designed to help the nation get out of recession.
The 2% reduction in the employee’s portion of the 6.4% Social Security payroll tax to 4.4% on income up to $110,100 is continued from 2011. Above that amount only the Medicare payroll tax is deducted from earned income. The employer’s portion is still the full 6.4%.
The Disability Insurance Trust Fund is now estimated to be insolvent by 2017. The Old Age, Survivor’s and Disability Trust Fund will be insolvent, without changes, in 2018. The estimates on the exhaustion of the two Trust Funds vary but full benefits are expected to be paid through 2027 & 2028, respectively.
So it especially ironic that in the name of fiscal responsibility the solvency of the Social Security system is being sabotaged by our elected leaders of both parties, especially when politics seems to have trumped bi-partisanship in virtually every other area.
Election year politics over rules common sense.
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