Rep. Paul Ryan Criticized for Views on Social Security
The Democrats are already gearing up to attack Rep. Paul Ryan for his views on Medicare and Social Security. Ryan has spoken out about his desire to privatize the programs.
WASHINGTON — Senate Democrats on Tuesday launched a preemptive strike on Rep. Paul Ryan, who will deliver the official Republican response to President Obama’s State of the Union address.
Ryan, who turns 41 later this week, is viewed as a rising star of the party, a budget hawk who hasn’t been afraid to spark conversations about taking on entitlement programs such as Medicaid and Social Security.
For months, Democrats have tried to tie Ryan’s past proposals to reshape both programs to the rest of the GOP. Since Ryan has taken the helm of the House Budget Committee, the Wisconsonite has been more circumspect in his words. But that hasn’t stopped Democrats from suggesting that Ryan’s views now have the endorsement of the House Republican leadership.
“Paul Ryan owes it to the national audience tonight to… continue reading
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Paperless for Social Security
The government has decided to go paperless for Social Security and Welfare. Now people will get the money by direct deposit.
A rooster is crowing, and an alarm clock chimes. “Wake up, wake up, wake up, it’s the first of the month,” the rap song by Bone Thugs-n-Harmony goes. “To get up, get up, get up, so cash your checks and get up.”
Immortalized in rap songs, examined in books on inner city life and discussed on Facebook, the federal benefits check has developed into a social and cultural icon. The checks have generated a “first of the month” economy in some places, as lottery revenue increases and lines at liquor stores and discount retailers swell. And in some communities, the checks serve as security to borrow cars, get a loan or sleep for a few days in someone’s house in hard times, said Sudhir Venkatesh, a professor of sociology at Columbia University.
But now, the days for such rituals are numbered.
In May, the government will no longer pay someone eligible for benefits with a mailed check. Instead, the money… continue reading
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Rep. Paul Ryan Criticized for Views on Social Security
The Democrats are already gearing up to attack Rep. Paul Ryan for his views on Medicare and Social Security. Ryan has spoken out about his desire to privatize the programs.
WASHINGTON — Senate Democrats on Tuesday launched a preemptive strike on Rep. Paul Ryan, who will deliver the official Republican response to President Obama’s State of the Union address.
Ryan, who turns 41 later this week, is viewed as a rising star of the party, a budget hawk who hasn’t been afraid to spark conversations about taking on entitlement programs such as Medicaid and Social Security.
For months, Democrats have tried to tie Ryan’s past proposals to reshape both programs to the rest of the GOP. Since Ryan has taken the helm of the House Budget Committee, the Wisconsonite has been more circumspect in his words. But that hasn’t stopped Democrats from suggesting that Ryan’s views now have the endorsement of the House Republican leadership.
“Paul Ryan owes it to the national audience tonight to… continue reading
Looking for Social Security attorneys in Baton Rouge? Contact us today for more information.
Possible to Work and Collect Benefits
Depending on your age and how much you make, it is possible to continue working and collect Social Security at the same time. There are certain restrictions to this rule.
Q. I have a friend who is still working full time at age 74, earning about $40,000. He told me he is also collecting full Social Security benefits. Is that possible and, if so, why? That doesn’t seem right to me, especially since Social Security is in jeopardy.
A. Your friend’s age makes it legal for him to collect full benefits and earn as much as he does, said employment attorney Troy G. Rosasco of Turley, Redmond, Rosasco & Rosasco in Ronkonkoma, N.Y.
“If you work and are full … retirement age or older, you may keep all of your Social Security retirement benefits, no matter how much you earn,” Rosasco said.
Social Security’s full retirement age for people born in 1942 or earlier, a category your friend falls into, is 65. On the other hand, let’s say you chose to receive benefits before full… continue reading
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Obama May Address Social Security
Many are wondering whether President Obama will address Social Security in his State of the Union address. People are expecting that the president will call for a fiscally moderate path forward.
With many expecting President Obama to endorse a fiscally moderate path forward in his State of the Union address next week – and perhaps call for changes to Social Security in the process — progressives are urging the president to protect entitlement programs.
The cause of liberal concern is clear: Since Republicans won back the House of Representatives in the 2010 elections, Mr. Obama has signaled he will embrace more moderate-to-conservative ideas in his next two years in office. Recent polls suggest voters may be responding positively to that message. And as the White House well knows, Mr. Obama could help undermine any potential 2012 competitors by embracing more conservative fiscal policies.
Along those lines, the president could endorse modifications to the Social Security program in his State of the Union address, particularly given that his bipartisan deficit commission endorsed the idea in its… continue reading
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Bigger Paychecks, More Worries
In Utah, people are seeing bigger checks, as they no longer have to contribute to the Social Security fund. However, elderly people are worried about the long-term implications.
Starting this month, workers’ paychecks will be a little fatter because President Barack Obama, Congress and tax-cut advocates pushed through a one-year provision that lops 2 percent off the usual mandatory contribution to the Social Security Trust Fund.
The idea is that Americans will spend the money and stimulate the economy. But low-income elders say they fear potential long-term effects on Social Security, often all that stands between them and abject poverty.
Colleen Martinez, who lives in senior housing in Salt Lake City, said if the tax holiday leads to cuts in her benefits, her life would shatter. “I’d have to live with my children,” said Martinez, 63. “Or on the street.”
Said Win Hunnewell, 72, “I’d be under the viaduct.”
Martinez and Hunnewell were among visitors at the Friendly Neighborhood Senior Center on a recent January morning. They and other seniors interviewed at the center said the tax holiday… continue reading
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Error Delays Social Security Checks
In Philadelphia, a bar code error has led to a delay in Social Security checks to some groups of people. The error has been corrected and those who did not receive their checks Jan. 12 will begin to see their benefits come in.
Area residents who did not receive their Social Security benefit checks as scheduled Jan. 12 should receive them today or Friday, officials said.
Aiden Diviny, a public affairs specialist from the Social Security Administration’s Philadelphia office, said approximately 405 people in the Hazleton area did not get checks in the mail.
“The first report we had was (Tuesday),” Diviny said Wednesday. “Our field offices reported to us that they had numerous calls and visits from people who didn’t get their benefit checks.”
Social Security officials worked with the U.S. Postal Service to track down the undelivered checks, he said, and on Wednesday afternoon, a supervisor in the postal service’s Lehigh Valley sorting facility found them.
According to Diviny, the checks were slated for delivery to area ZIP codes from 18201 to 18249.
“The post office complex will… continue reading
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How To Increase Social Security Benefits
The Social Security Administration has taken steps to prevent people from increasing their benefits. However, there are still some ways that people can maximize their benefits legally.
BOSTON (MarketWatch) — The Social Security Administration recently put the kibosh on a technique some retirees were using to boost their monthly benefits. But even though that loophole is essentially closed, experts say there are still plenty of ways households can legally maximize the amount of income they receive from Social Security.
In December, the SSA said retirees essentially can no longer do what are called do-overs, or the free-loan strategy. Here’s how it worked: You claim benefits at a given age and then years later repay what you received, pay no interest, and then file for benefits again, getting a higher monthly amount because you delayed filing until a later age. Read MarketWatch’s story on Social Security do-overs, from 2008.
“This strategy is equivalent to a ‘no interest’ loan from Social Security,” said Boston College’s Center for Retirement… continue reading
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Tips for Retirees in 2011
This year, the oldest baby boomers will begin to retire as they turn 65. If you are planning your retirement, you’ll want to follow these seven tips.
Schedule your free physical. Beginning this year, Medicare provides a one-time free physical exam within the first 12 months you have Part B coverage by a doctor who agrees to be paid directly by Medicare. The visit may include a review of your health, vision and blood pressure screenings, education and counseling about preventive care services covered by Medicare, and referrals for treatment you may need. Other preventative services you may be able to get at no out-of-pocket cost include cardiovascular and breast cancer screenings, bone mass measurements, and flu shots.
Delay Social Security until next year. While Medicare eligibility for 1946-born baby boomers begins this year, they still will not qualify for the full amount of Social Security benefits they are entitled to. Boomers will have to wait another year, until age 66, if they do not want their entitlement checks to be reduced. Retirees who claim Social Security this year when they turn… continue reading
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Medical Residents Still Have to Pay Taxes
The U.S. Supreme Court ruled that medical residents are not exempt from paying taxes. This comes after a long battle between the IRS and big hospitals around the U.S.
WASHINGTON (Dow Jones)–The U.S. Supreme Court on Tuesday upheld an Internal Revenue Service requirement that medical residents pay Social Security taxes.
The ruling would appear to settle a long fight between the IRS and teaching hospitals including Mayo Clinic, and deprives the hospitals of millions they had hoped not to have to pay the government in the future.
Full-time students are generally exempt from Social Security taxes, but law clerks and tradesman apprentices are not.
In a 2005 rule, the IRS said a full-time employee is one that works more than 40 hours a week, and said medical residents were not part of the “student” category.
Mayo Clinic challenged the rule, arguing that like other students, residents attend lectures, perform laboratory work and are focused primarily on learning.
The high court, in an unanimous… continue reading
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