Health Reform Poll Finding 2008 Update On Consumers Views Of Patient 2Unlike the rest of our tax system, which is progressive, meaning the lower the income, the lower the tax rate that people must pay - Social Security payroll taxes are regressive. The first dollar of earnings is taxed for Social Security, and all workers pay 6.2% tax on earnings - an amount that is matched by employers - but only on the first 8,500 in earnings. But because of the taxable maximum cap, the highest paid workers, like CEOs of major corporations who receive millions in wages and even Member of Congress, are pocketing a huge tax break, 6.2% of every dollar earned over 8,500..View TSCL's entire plan for fixing the Social Security Disability Insurance program..The BPC notes that this combination of lower revenues and higher program costs will shorten the solvency of the Social Security. Its blog points to past changes in Social Security solvency. In 2008, prior to the full impact of the Great Recession, Social Security Trustees estimated the Trust Fund would be depleted in 204By the time the recession had run its course, in 2012 high unemployment and sluggish economic growth had moved up the insolvency date to 2033. … Continued
Medicaid Issue Brief Effects Of The Aca Medicaid Expansion On Racial Disparities In Health And Health Care View FootnotesThe Social Security Notch is the unexpectedly steep drop in benefits that affects people born from 1917 through 192This generation of seniors receives lower benefits than other seniors who had nearly identical work and earnings histories..Last year the Senate was a bigger problem when dealing with passing legislation but there still may be hope this year for a bi-partisan bill authored by Senators Ron Wyden and Chuck Grassley. "The bill would cap seniors' drug costs and penalize drugmakers for raising prices too fast - a provision that many Republicans have likened to price controls. It would save the government a projected billion over a decade, far less than the 0 billion-plus under the House negotiation bill," according to Politico..Now, when the husband receives his valid Social Security number, he has already worked 12 years and would be eligible to file a claim for Social Security benefits in the future. If he kept copies of the W2s with the phony number, he can file a claim for retirement benefits as early as age 62, or disability benefits sooner, if he meets the medical and other criteria. At 65, or two years after becoming disabled, he would also qualify for Medicare. In addition to a retirement or disability benefit of his own, his spouse, his ex-wife, and children may also become entitled to benefits on his account as well. … Continued