Social Security Benefits | InvestmentWatch

The so-called fiscal cliff is only one more trick being used in justifying the impoverishing of the middle class to the benefit of the ruling class

Obama’s even got the liberals fooled. He’ll end up cutting Social Security benefits, that the vast majority of America’s retirees depend on, and spent their lives paying for, but he won’t go after eliminating the “carried interest” deduction that benefits billionaire hedge fund managers, like his major campaign contributor, Blackrock’s Larry Fink. He won’t even mention cutting record military spending or ending the Fed’s bank bailouts. And he hasn’t mentioned [...]

After Taking $10 Billion From Taxpayers, CEO Of Goldman Sachs Wants To Cut Your Social Security ‘Because We Can’t Afford Them’

You’d think that Goldman Sachs — the mega-bank that took $10 billionof taxpayer money — would show a little bit of humility in the wake of the financial crisis. You’d be wrong.

In an interview with CBS News, Lloyd Blankfein, the Goldman CEO who famously said he was doing “God’s work,” said that Social Security benefits must be cut by raising the retirement age and Medicare and Medicaid must be “contained” as well:

“PELLEY: Social [...]

The Federal Reserve Is Systematically Destroying Social Security And The Retirement Plans Of Millions Of Americans

by Michael

Last week the mainstream media hailed QE3 as the “quick fix” that the U.S. economy desperately needs, but the truth is that the policies that the Federal Reserve is pursuing are going to be absolutely devastating for our senior citizens. By keeping interest rates at exceptionally low levels, the Federal Reserve is absolutely crushing savers and is systematically destroying Social Security. Meanwhile, the inflation that QE3 will cause is going to [...]

Social Security and Disability Payments Hit Annual Records—With Month Left in FY

(CNSNews.com) – By the end of August, according to data released Thursday by the U.S. Treasury, the federal government had already paid out record annual amounts in both Social Security and disability benefits during fiscal 2012—even though there was still a month left in the year.

In fiscal 2011–which ended on Sept. 30, 2011—the federal government paid a total of $591.492 billion in benefits from the Old Age and Survivors Insurance Trust Fund, [...]

Feds Are Cutting Social Security Benefits As Much As 15% From Retirees Who Can’t Pay Back Student Loans

While most attention in the ongoing student debt crisis narrative has focused on new graduates, it turns out the federal government has been quietly targeting a different group of debtors: retirees.

The Treasury Department has been withholding as much as 15 percent of Social Security benefits from “a rapidly growing number of Social Security recipients who have fallen behind on federal student loans,” Smart Money’s Annamaria Andriotis reports:

“From January through August 6, [...]

Thousands of Federal Retirees Get Six-Figure Pensions

More than 21,000 retired federal workers receive lifetime government pensions of $100,000 or more per year, a USA TODAY/Gannett analysis finds.

Of these, nearly 2,000 have federal pensions that pay $125,000 or more annually, and 151 take home $150,000 or more. Six federal retirees get more than $200,000 a year.

Some 1.2 percent of federal retirees collect six-figure pensions. By comparison, 0.1 percent of military retirees collect as much.

The New York State [...]

FEDS WILL TAKE YOU SOCIAL SECURITY IF YOU SIGNED OR CO-SIGNED FOR UNPAID STUDENT LOANS

It’s no secret that falling behind on student loan payments can squash a borrower’s hopes of building savings, buying a home or even finding work. Now, thousands of retirees are learning that defaulting on student-debt can threaten something that used to be untouchable: their Social Security benefits.

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing [...]

Feds seize unpaid Social Security checks to pay off student loans

According to government data, compiled by the Treasury Department at the request of SmartMoney.com, the federal government is withholding money from a rapidly growing [...]

Refinancing Debt Into Prosperity – Most Mortgage Activity For Refinances With Applications Up 97 Percent From Last Year

Shuffling papers around on your desk does not mean you are being productive but might give the appearance of activity. Refinancing debt in countries in aninsolvent position may feel good for the moment, but ultimately the position is unsustainable. You buy yourself a window of opportunity. With the Federal Reserve pushing mortgage rates to historical lows and allowing banks to borrow at virtually interest free terms, the market is creating a [...]

1 Out Of 6 Americans Receiving Social Security Benefits

The bill is coming due. A stunning 61,000,000+ Americans receive Social Security, Supplemental Security Income, or both. Add another 46,000,000+ Americans on food assistance and you begin to see why we are running on borrowed time on a variety of fronts. With Social Security, working Americans are taxed for current retirees. This works when you have a large and young work base supporting a relatively small retired population. That equation is not [...]

POLL: ROMNEY 49, OBAMA 44

The Rasmussen Reports daily Presidential Tracking Poll for Tuesday shows Mitt Romney earning 49% of the vote and President Obama attracting 44% support. Three percent (3%) would vote for a third party candidate, while another three percent (3%) are undecided.

Matchup results are updated daily at 9:30 a.m. Eastern (sign up for free daily e-mail update).

The uptick for Romney comes as investor confidence has fallen six points in the wake of last week’s [...]

OMG! Social Security is going bankrupt!!

The government now says that Social Security finances have worsened dramatically, which will reduce the life of the supporting trust funds by 2033. This is three years earlier than previously forecasted.

Here’s the government’s report. The key points:

• Timothy Geithner: “Social Security’s retirement and disability programs have dedicated funds sufficient to cover benefits for the next 20 years, but in 2033, incoming revenues and trust fund resources will be insufficient to maintain payment of [...]

The top seven “tax-friendly” states for retirees

From Economic Policy Journal:

Robert Powell breaks down the list based on data from CCH and the Tax Foundation, and tells you why they need to be considered:

Alaska: Alaska might not seem like a retirement haven based on the usual factors considered such as, say, weather. But it might be the perfect place for one’s golden years if taxes are a big concern. Alaska doesn’t tax personal income, including Social Security [...]

This could most likely be the single largest threat facing the US economy in 2012-13.

Like the US and the UK, Japan’s economy is heading of the cliff. Their population is aging rapidly and both their private pensions and social security benefits are mostly un-funded. Savings are declining. Japan has very little energy and natural resources. Commodities are imported. This was not a problem while Japan was running a massive trade surplus. The GDP was supported by exports and a cheap yen supported an economy [...]

America’s oldest flight attendant: The devoted airline worker who has served passengers for 63 YEARS (and once gave Burt Lancaster 13 Martinis)

Flying the friendly skies has been a passion of Ron Akana’s for the past 63 years.

The jovial octogenarian is thought to be the longest-serving air steward in aviation history and has rightfully earned his senior place within the United flight attendants pecking order.

Now, after signing up as one of the first male flight attendants from his home state of Hawaii, he is considered Number 1 of all the company’s flight [...]

How To Bail Out Uncle Joey Without Draining Your Wallet

by Rachel Koning Beals

It wasn’t the dread of long flights that kept the retired Kluevers, who live in Illinois and part-time in Florida, from vacationing on a distant continent.

It was the fear that dipping into their savings, even for a much-deserved trip, would compromise their diligent retirement planning and the financial legacy they wanted to leave their children and grandchildren, says son Steve Kluever.

[In Pictures: The 10 Best Places to Retire in 2012.]

Like the Kluevers, [...]

Lies we tell ourselves…

Social Security Trust Fund Outlook Takes $1 Tril Dive

This is another great example of lies we tell ourselves. How can we keep referring to this as a “Trust Fund” implying some type of store of value? It’s a loan to an insolvent Federal government that can’t pay back the “Social Security Trust Fund” debt any more than it can any of the other debt.

This article should read:

Every US citizen (including Children) [...]

Payroll Tax “Cut” Just Another Welfare State Scam

Last year a one year cut in the payroll taxes that working Americans pay to finance Social Security was enacted in the name of so-called economic “stimulus.”

But, like the rest of the economic stimuli that have come from Washington over the last three years, the only thing that has been stimulated is the growing hole of national debt into which we sink deeper and deeper.

But now, not without surprise, our [...]

Bitter and painful: 25 mind-blowing facts about the coming “Baby Boomer” retirement crisis

by The Economic Collapse

For decades we were warned that when the Baby Boomers started to retire that this country would be facing a retirement crisis of unprecedented magnitude. Well, that day has arrived ladies and gentlemen. Back on January 1st, the Baby Boomers began to retire and more than 10,000 of them will be retiring every single day for years to come. Most of them have not saved up nearly enough [...]

Congress Figures Out Sneaky Way To Raise Taxes And Cut Social Security Benefits Without Anyone Noticing

Image: commons.wikimedia.org

WASHINGTON (AP) — Just as 55 million Social Security recipients are about to get their first benefit increase in three years, Congress is looking at reducing future raises by adopting a new measure of inflation that also would increase taxes for most families — the biggest impact falling on those with low incomes.

If adopted across the government, the inflation measure would have widespread ramifications. Future increases in veterans’ benefits and [...]

The Big Lie Of Social Security

This topic has been brought up quite often in the past…

But I’ll point you to an article to help anwer your question:

The Big Lie Of Social Security
“There is a big lie about Social Security benefits that a lot of people believe in. It is a huge lie hidden in plain sight. And yet because this lie comforts millions of Americans with little else to look forward to in terms of income and [...]

Report: Some 70% of households that relied on food stamps last year had no earned income – WSJ

Some 70% of households that relied on food stamps last year had no earned income, a new report shows.

Click here for an interactive map. More than 40 million individuals and nearly 19 million households tapped the food stamp program in 2010, according to the U.S. Department of Agriculture. While the recession technically ended in 2009, a sluggish economic recovery left millions out of work or [...]

Here’s a little history on how much of a ponzi this has been from the get-go, about the very first monthly payment recipient for SS.

‘The first monthly payment was issued on January 31, 1940 to Ida May Fuller of Ludlow, Vermont. In 1937, 1938 and 1939 she paid a total of $24.75 into the Social Security System. Her first check was for $22.54. After her second check, Fuller already had received more than she contributed over the three-year period. She lived to be 100 and collected a total of [...]

Rep. Jim Cooper: Most Americans do not understand that federal entitlements are not “bank account” programs that hold their money – Social Security is not a legal guarantee.

Rep. Jim Cooper (D-Tenn.)

By Matt Cover(CNSNews.com) – Democrat Rep. Jim Cooper (D-Tenn.) said that most Americans do not understand that federal entitlements are not “bank account” programs that hold their money, adding that Social Security is not even a legal guarantee.

“Are these vested benefits? Are these contractual benefits?” Cooper asked of Social Security benefits. “Well, it turns out they’re not. [...]

Sen. Sanders: I’ll be damned if they cut Social Security

By Eric W. Dolan
Rawstory

During a United Steelworkers convention in Las Vegas, Senator Bernie Sanders (I-VT) lashed out at those who had proposed rolling back Social Security benefits.

“There has been too much discussion in this country — not just from Republicans, but from Democrats alike — that we should be making cuts in Social Security,” he said. That is wrong.”

“When Social Security was developed in the 1930s, [...]

The rising impact of stealth taxes

Janice Revell, contributor, On Friday July 22, 2011, 2:03 pm EDT
Fortune Magazine

Congressional gridlock over whether to cut or raise income taxes is obscuring a different threat to six-figure earners: a host of stealth taxes implemented in the name of deficit reduction. Many of the provisions, as with the dreaded alternative minimum tax, have never been adjusted for inflation. As a result, they have morphed into tax [...]

Geithner: ‘We Write 80 Million Checks a Month’

“Just remember, this is the United States of America. We write 80 million checks a month. There are millions and millions of Americans that depend on those checks coming on time,” Treasury Secretary Tim Geithner told “FOX News Sunday.”

“Not just people that supply our military, but people who get Social Security benefits, Medicare [and] Medicaid benefits. And we can not put those payments at risk [...]

The Gang of 6 Raising the Retirement Age & Reducing Social Security Benefits

http://goo.gl/Aix0y / http://goo.gl/m8QMq All for YOUR! Social Security Surplus Money!

Sen. Ben Nelson[D(ick)-Neb.]

Gang of 6 Member Nelson, Ben (D-NE) $14 Million Dollar Lobby Whore http://goo.gl/i29tJ And! who owns him http://goo.gl/DvBWP

Sen. Mary Landrieu[D(ick)-La.]

Gang of 6 Member Landrieu, Mary L (D-LA) $24 Million Dollar Lobby Whore http://goo.gl/dwFxO And! who owns her http://goo.gl/tM3bG

Sen. Ron Wyden[D(ick)-Ore.]

Gang of 6 Member Wyden, Ron (D-OR) $23 Million Dollar Lobby Whore http://goo.gl/GnQKf And! who owns him http://goo.gl/zNRvN

Independent Dick [...]

Budget Director Won’t Answer If WH Would Prioritize Social Security Payments

White House Budget Director Jacob Lew dodged CNN’s Candy Crowley’s question if the administration would prioritize Social Security payments if a default occurred. Transcript of the exchange below:

CNN’s Candy Crowley, HOST: “More immediately, you’d have to make some spending priorities — payment priority decisions: Social Security benefits, and federal worker pay, and defense contractors. What are your priorities should the debt ceiling not be [...]

Hometown congressman tells Obama to ‘quit lying’

CHICAGO (CBS) – North suburban Republican Congressman Joe Walsh has a new YouTube video on his website – where he tells President Barack Obama to “quit lying” about the impact of not raising the national debt ceiling by Aug. 2.

In a nearly three-minute video released Wednesday, Walsh says, “President Obama, quit lying.” He claims there is plenty of money to pay federal debts and cover [...]

REPORT: Obamacare Will Punish Older Workers

WASHINGTON — Older adults of the same age and income with similar medical histories would pay sharply different amounts for private health insurance due to what appears to be an unintended consequence of the new health care law.

Aware of the problem, the administration says it is exploring options to address a potential disparity that could mean added controversy for President Barack Obama’s health care [...]

‘Glitch’ in Obama’s health law would provide millions in middle class with free care

WASHINGTON – President Barack Obama’s health care law would let several million middle-class people get nearly free insurance meant for the poor, a twist government number crunchers say they discovered only after the complex bill was signed.

The change would affect early retirees: A married couple could have an annual income of about $64,000 and still get Medicaid, said officials who make long-range cost estimates for [...]

WSJ: Key Seniors Association [AARP] Pivots on Benefit Cut

Money Talks http://www.time.com/time/magazine/articl…

6/16/11
WSJ: Key Seniors Association Pivots on Benefit Cut http://www.google.com/news/search?q=Key+…
AARP, the powerful lobbying group for older Americans, is dropping its longstanding opposition to cutting Social Security benefits, a move that could rock Washington’s debate over how to revamp the nation’s entitlement programs.

WSJ: Wall Street Gets Eyed in Metal Squeeze http://www.google.com/news/search?q=Wall…
Goldman Sachs Group Inc. and other owners of large metals warehouses are being scrutinized [...]

Huge Development In Budget Wars As AARP Says It’s Open To Social Security Benefit Cuts

There are five parts ot the federal budget: Social Security, Medicare and Medicaid, National Defense, Interest on the Debt and All Other Discretionary Spending. If the United States is going to get its fiscal house in order, it will need to restructure its debt (which it is doing) and cut costs in the other four categories.Cutting Social Security benefits is seen by most political analysts [...]

The Gang of 6 Raising the Retirement Age & Reducing Social Security Benefits

The Gang of 6 Raising the Retirement Age & Reducing Social Security Benefits http://goo.gl/Aix0y / http://goo.gl/m8QMq All for the Surplus $

http://www.dickipedia.org/dick.php?title=The_Gang_of_Six Reducing Social Security Benefits http://goo.gl/m8QMq All for YOUR! Surplus Money!

Sen. Ben Nelson [D(ick)-Neb.]

Gang of 6 Member Nelson, Ben (D-NE) $14 Million Dollar Lobby Whore http://goo.gl/i29tJ And! who owns him http://goo.gl/DvBWP

http://www.opensecrets.org/politicians/summary.php?cycle=Career&type=I&cid=N00005329&newMem=N

Sen. Mary Landrieu [D(ick)-La.]

Gang of 6 Member Landrieu, Mary L (D-LA) $24 Million Dollar Lobby Whore http://goo.gl/dwFxO And! who [...]

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