Biden's Social Security and SSI Plan Would Life 1.4 million out of poverty

[Fantine]

Biden's Social Security and SSI plan would lift 1.4 million out of poverty, study finds

His plan would suspend Social Security taxes from between $132,900 annually (the current Social Security maximum) and $400,000 annually, but once the threshold of $400,000 had been reached, any additional salary would be subject to the Social Security tax of 6.2%.
Other features are included in the article.

I think it is a good idea, and as we all know, workers in the top 1% of the salary scale received the overwhelming majority of tax cut benefits and should have little reason to complain.

Compare this to Trump, who wants to end the payroll tax and bankrupt the Social Security system instead of keeping it viable for future generations.

 

[Arc F1]

Biden's Social Security and SSI plan would lift 1.4 million out of poverty, study finds

His plan would suspend Social Security taxes from between $132,900 annually (the current Social Security maximum) and $400,000 annually, but once the threshold of $400,000 had been reached, any additional salary would be subject to the Social Security tax of 6.2%.
Other features are included in the article.

I think it is a good idea, and as we all know, workers in the top 1% of the salary scale received the overwhelming majority of tax cut benefits and should have little reason to complain.

Compare this to Trump, who wants to end the payroll tax and bankrupt the Social Security system instead of keeping it viable for future generations.

47 years and now he has a plan? He was willing to cut it before. Why the change of heart?

 

[Albion]

Biden's Social Security and SSI plan would lift 1.4 million out of poverty, study finds

His plan would suspend Social Security taxes from between $132,900 annually (the current Social Security maximum) and $400,000 annually, but once the threshold of $400,000 had been reached, any additional salary would be subject to the Social Security tax of 6.2%.
Other features are included in the article.

I think it is a good idea, and as we all know, workers in the top 1% of the salary scale received the overwhelming majority of tax cut benefits and should have little reason to complain.

Compare this to Trump, who wants to end the payroll tax and bankrupt the Social Security system instead of keeping it viable for future generations.

Of course, Trump does not want to bankrupt Social Security. Anyone who knows the first thing about the relationship between payroll taxes and Social Security entitlement and/or benefits knows that.

In other words, in replying to this post I am reply to election-campaign propaganda.

The so-called Social Security Trust Fund, which is only an account, has been insolvent or close to it for years. That's because the Congress has been dipping into it for monies to use for other purposes, leaving only an IOU behind.

If President Trump wants to suspend payroll taxes for awhile or Joe Biden wants to alter the rate at which payroll taxes are paid and by whom...neither one of those moves will impact Social Security benefits. It would take the entire federal government to go broke for that to happen.

It is not a welfare program for the elderly. The revisions you identified as Biden's, in which the payroll tax cuts off at one point but comes back later would mark an end to that concept which has been part of the Social Security system since its inception. The plan would increase revenues to the government, but not in any way assist the Social Security system to remain solvent.

 

[Fantine]

47 years and now he has a plan? He was willing to cut it before. Why the change of heart?

Ah, so you subscribe to Trump's idiotic comparison in which he compares the power of a president to the power of a Senator who has one vote out of 100, and who needs the cooperation of a House of Representatives, at least 50 other Senators, and a president to enact legislation.

When the other branches of government were in agreement, along with at least 50 other Senators, Biden was able to accomplish objectives--and he learned how to be a team player in that time.

Trump has absolutely no ability to deal with other people.

 

[Hazelelponi]

Biden's Social Security and SSI plan would lift 1.4 million out of poverty, study finds

His plan would suspend Social Security taxes from between $132,900 annually (the current Social Security maximum) and $400,000 annually, but once the threshold of $400,000 had been reached, any additional salary would be subject to the Social Security tax of 6.2%.
Other features are included in the article.

I think it is a good idea, and as we all know, workers in the top 1% of the salary scale received the overwhelming majority of tax cut benefits and should have little reason to complain.

Compare this to Trump, who wants to end the payroll tax and bankrupt the Social Security system instead of keeping it viable for future generations.

As someone actually on disability, Biden's plan is bunk.

Food stamps and Medicaid along with free Medicare is worth more to most elderly who need to live off their SS earnings than a small bump in payments would be, which would all be lost with that payment bump.

Not to mention this plan does nothing to address the SS fund insolvency issues we currently face..

Joe Biden’s Social Security Plan Reduces Elder Poverty But Doesn’t Fix Trust Fund Insolvency, New Report Says

And it's just one more thing that makes the dems feel better about themselves, that does little to nothing in the end.

 

[rambot]

Of course, Trump does not want to bankrupt Social Security. Anyone who knows the first thing about the relationship between payroll taxes and Social Security entitlement and/or benefits knows that.

I guess the only reason people would think that is because he said it. I mean sure the adults managed to convey that they will scale that back.

But that was not his initial suggestion.

 

[rambot]

As someone actually on disability, Biden's plan is bunk.

Food stamps and Medicaid along with free Medicare is worth more to most elderly who need to live off their SS earnings than a small bump in payments would be, which would all be lost with that payment bump.

Would it be lost though? Your article seems to indicate that seniors would benefit from the change....though I admittedly only scanned the article.

 

[Hazelelponi]

Would it be lost though? Your article seems to indicate that seniors would benefit from the change....though I admittedly only scanned the article.

Seems the benefit is only in the monetary increase.

Seeing as how monetary increases above poverty level means you no longer qualify for assistance programs only given to those below the poverty line you have to take into consideration what will be lost.

And when it comes to anyone on disability or the elderly, the fact you wouldn't qualify for those medical and food programs must be taken into consideration...

Being bumped just barely out of poverty is an issue all it's own.

 

[rambot]

Seems the benefit is only in the monetary increase.

Seeing as how monetary increases above poverty level means you no longer qualify for assistance programs only given to those below the poverty line, and you have to take into consideration what will be lost.

And when it comes to anyone on disability or elderly, the fact you wouldn't qualify for those medical and food programs must be taken into consideration...

Being bumped just barely out of poverty is an issue all it's own.

But, to be clear, it doesn't OUTRIGHT indicate that they would be kicked off of those supports right? At this point, it is an assumption that the increase in monetary support would get someone removed?

In my mind, if social security would be increased, it should not affect access to OTHER social safety nets. That is my assumption though I could be wrong.

 

[Hazelelponi]

But, to be clear, it doesn't OUTRIGHT indicate that they would be kicked off of those supports right? At this point, it is an assumption that the increase in monetary support would get someone removed?

In my mind, if social security would be increased, it should not affect access to OTHER social safety nets. That is my assumption though I could be wrong.

Because I actually deal with this I see it as absolutely affecting other social safety nets, because it does now.

To claim that the bump above the poverty line wouldn't affect programs that are only given to those below it wouldn't affect it, would mean your saying your also at the same time increasing the poverty line.. (as you'd have to, in order to allow the same access)

I'm not reading that as a proposal in this anywhere. Not saying it couldn't happen, just saying this isn't in the proposal that I can see.

 

[rambot]

Because I actually deal with this I see it as absolutely affecting other social safety nets, because it does now.

I know you deal with this. What i'm saying, though, is I don't see definitively evidence that Biden's plan includes that.

I'm not reading that as a proposal in this anywhere. Not saying it couldn't happen, just saying this isn't in the proposal that I can see.

And I don't really see the opposite either (though it sounds like that would be the preset).

I DEFINITELY hope that it wouldn't cause that kind of bump; ESPECIALLY, as it's a government program that would affect MILLIONS of people they are trying to help. And taking steps to make those lives worse seems contrary to their mission.

If it goes through, I hope you see a net benefit Hazelelponi!

 

[Hazelelponi]

If it goes through, I hope you see a net benefit Hazelelponi!

I don't vote on hopefully... I vote on clear proposals.

But if Biden does get in office and such a plan goes through Congress, I do hope everyone sees a benefit that's real, and doesn't actually end up hurting people in the end.

I do think its clear that at best, this does nothing to extend the SS Trust though, the increases in payouts pretty much zeros out the increases in payments such that this only extends the SS fund by 5 years before it's bankrupted...

There still needs a definitive plan for that eventuality...

 

[MorkandMindy]

As someone actually on disability, Biden's plan is bunk.

Food stamps and Medicaid along with free Medicare is worth more to most elderly who need to live off their SS earnings than a small bump in payments would be, which would all be lost with that payment bump.

Not to mention this plan does nothing to address the SS fund insolvency issues we currently face..

Joe Biden’s Social Security Plan Reduces Elder Poverty But Doesn’t Fix Trust Fund Insolvency, New Report Says

And it's just one more thing that makes the dems feel better about themselves, that does little to nothing in the end.

It is often good to hear someone who knows what they are talking about, inconvenient to party rhetoric, but still good.

 

[MorkandMindy]

At Walmart the public and media had a big push to get base pay up another dollar an hour, which made us ineligible for Medicaid, which was exactly what the public wanted, they were moaning about 'their tax dollars helping Walmart'.

They may have wanted to feel good too, maybe, but only one ever asked me about the pay rise, if I was still getting Medicaid and I said 'no' and he said 'good because if you were still getting it I was going to go into the office and shout the place down'.

Somehow they connect money poor people get with what they pay in taxes, despite 700 billion in govt cash going to the rich in the CARES Act, and no, the system does not care about the poor because we only have 20% of the vote.

 

[Hazelelponi]

At Walmart the public and media had a big push to get base pay up another dollar an hour, which made us ineligible for Medicaid, which was exactly what the public wanted, they were moaning about 'their tax dollars helping Walmart'.

They may have wanted to feel good too, maybe, but only one ever asked me about the pay rise, if I was still getting Medicaid and I said 'no' and he said 'good because if you were still getting it I was going to go into the office and shout the place down'.

Somehow they connect money poor people get with what they pay in taxes, despite 700 billion in govt cash going to the rich in the CARES Act, and no, the system does not care about the poor because we only have 20% of the vote.

I agree with you on pricing people out of help.. it's about worthless really, as it does nothing to address issues like food and medical care.

I have zero problems making sure things like that are covered for those who actually need it, 160 a month (pre-tax) certainly doesn't make up for the loss of social assistance programs. I'd rather see it not raised at all, and more money put into programs that actually help raise people out of poverty like education..

 

[MorkandMindy]

Let the 20% die is the basic plan.

From the Reagan landslide onward the public has voted for right wing policies, it's democracy.

The contributions of the rich help individual politicians and so do the corporate lobbyists, whereas the 20% votes of the poor just don't matter that much especially because neither candidate usually goes after those votes. One right wing party vs another, hard to choose you see.

 

[MorkandMindy]

A lot of the bottom 20% are fairly useful, I was paid 15k a year by Walmart, if I generated the average for a base paid employee I made the company about 125k in income. I'm sure the cash generated by an even lower paid Amazon employee is even more.

When the US decided to buy manufactured things from other countries a lot of low income people were eliminated from the economy and the money went to other countries, hence our really bad economy now.

If the bottom end of the economic scale actually disappeared the middle class would have to take over those badly paid jobs.

The claim of sundry top economists is that the low paid incomes have stagnated, they have not, they have gone down due to rising medical costs. But inflation does not keep up with costs.

 

[cow451]

I agree with you on pricing people out of help.. it's about worthless really, as it does nothing to address issues like food and medical care.

I have zero problems making sure things like that are covered for those who actually need it, 160 a month (pre-tax) certainly doesn't make up for the loss of social assistance programs. I'd rather see it not raised at all, and more money put into programs that actually help raise people out of poverty like education..

You know, having universal affordable healthcare would take it out of the “means test” category that Food Stamps, Medicaid, etc. currently comprise. And, it makes no sense that people deemed disabled by Social Security are not immediately eligible for Medicare.

Biden’s plans are flawed, but recent history validates the inability of the GOP to do anything constructive on these matters.

 

[Arc F1]

Ah, so you subscribe to Trump's idiotic comparison in which he compares the power of a president to the power of a Senator who has one vote out of 100, and who needs the cooperation of a House of Representatives, at least 50 other Senators, and a president to enact legislation.

When the other branches of government were in agreement, along with at least 50 other Senators, Biden was able to accomplish objectives--and he learned how to be a team player in that time.

Trump has absolutely no ability to deal with other people.

For 47 years he's done nothing. I just don't believe that somehow he's had a change of heart.

 

[Hazelelponi]

You know, having universal affordable healthcare would take it out of the “means test” category that Food Stamps, Medicaid, etc. currently comprise. And, it makes no sense that people deemed disabled by Social Security are not immediately eligible for Medicare.

Biden’s plans are flawed, but recent history validates the inability of the GOP to do anything constructive on these matters.

Everyone - republicans and democrats alike - agree that Obama's healthcare system is horrible and needs replaced with something better..

Biden had a hand in putting that disaster together and has no intention of doing anything more than doubling down on it, so if you want universal healthcare Biden is not your man.

The problem in Congress is though republicans and democrats alike both want the aca replaced with something better, neither side is willing to sit down and figure out together what would be acceptable to both groups.

This issue isn't Trump, it's been going on before Trump and will go on after he's gone. To blame Trump for the mess that congress is is to turn a blind eye to congress as a whole. Both sides are doing their fair share of digging in their heels.

On Universal healthcare I would dig in my own heels, I think its an atrocious plan, but I am open to plans that actually solve problems and don't compound them... I would, and most America would, like to see both sides get together in the spirit of problem solving healthcare in this country....

We all (the populace) have to decide what our middle ground compromise is, and then let our representatives know.