Tag: Social Security

Start Paying Attention to Social Security, Whatever Your Age

 

After the late Sen. Robert Dole (R-KS) passed away earlier this month, I visited YouTube to watch his Senate farewell address. He resigned from the Senate as Majority Leader and as the Senior Senator from Kansas on June 11, 1996. I had a front-row seat for his speech as Secretary of the Senate.

During that speech, Dole considered helping extend the solvency of Social Security, which teetered on the edge of bankruptcy in 1983, as his single most significant legislative achievement, among many. It was a bipartisan agreement that included reforms insisted by Republicans (phasing in the age to receive full retirement benefits, including mine) and tax hikes demanded by Democrats. It was signed into law by President Ronald Reagan, flanked by a happy bipartisan delegation from Congress, along with Treasury Secretary Don Regan.

Social Security … Help!

 

I am coming up on my 66th birthday in January, and because of the clear economic disasters on the horizon, I’m ready to hit it running so I get back at least some of my Social Security “investment.”

When my wife took Social Security several years ago, she found the process too crazy for her brain, and after making her choices, including what Letter Medicare option to choose, she complained after the fact about how she was stuck with things that were not the best for her.

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Clever minds have been at work amidst Democratic circles in the US Senate to find a way to circumvent the filibuster – that pesky Senate Rule 22 provision that requires a three-fifths supermajority to end debate and bring a matter to a final vote. But the Democratic caucus isn’t unified, at least yet. Senators Joe Manchin (D-WV) […]

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Republicans have an issue ready-made for them that will secure their legacies for a generation: Social Security (and Medicare for good measure). But until Trump came along no Republican had the political sense to actually see this issue for what it is, a huge potential to expand the voting base.  Other than some teachers in […]

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We all know the political media is biased, right? I certainly hope no one is debating this anymore.  The sports media is actually even further to the left. Which is why a moderately-left guy like Clay Travis can build quite a following in sports-media by not kowtowing to the “I Hate America” crowd.  But the […]

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Allison Schrager joins Brian Anderson to discuss how risk propels economic growth and why government efforts that go too far to mitigate risk undermine America’s economic vitality.

“Risk, for better and worse,” writes Schrager for City Journal, “is at the heart of economic growth, and successfully apportioning it—not avoiding it—is the key to prosperity.” While government has a role to play in managing risk, the U.S. economy has thrived by trusting markets to allocate it efficiently. Overly intrusive efforts to reduce risk in the economy—such as California’s new law regulating freelance or “gig” work—may prove counterproductive to workers of all incomes.

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Anyone else getting Social Security scammer robocalls from the 830 area code? They rotate the rest of the numbers, all mimicked and not real, but actually leave a message. It is a slightly cleverer variation on the earlier, more threatening scams, and close to one reported this past tax season. Newsweek reported on two earlier […]

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Richard Epstein explains how public pensions came to be a ticking time bomb for states and cities throughout the U.S., what the financial ramifications are, and why the road to reform is so perilous.

Alexandra DeSanctis of National Review and Greg Corombos of Radio America cheer the family leave plan pushed by Sen. Marco Rubio and Ivanka Trump to allow parents to tap their future Social Security checks to cover the weeks surrounding the birth of a new baby in exchange for waiting extra weeks when they reach retirement.  In addition, Alexandra rebuts the liberal insistence that family leave must be a whole new entitlement.  They also slam Republicans for effectively surrendering the option to use budget reconciliation for the next two years as part of the horrific budget deal with Democrats.  And they fire back at Republican lawmakers who spent Thursday trashing Sen. Rand Paul’s filibuster as a waste of time, when those GOP members are really just mad that Sen. Paul called them out for their blatant hypocrisy on deficit spending and not wanting to take a vote on restoring budget caps.

It’s a tradition dating back to the Founding Fathers: the American government financing safeguards, be it retirement (Social Security), health benefits (Medicare), or rewards for military service in the form of federal entitlements. In an age of debt and deficits, when will lawmakers address entitlement reform? John Cogan, Hoover’s Leonard and Shirley Ely Senior Fellow and author of a new book on the long history of federal entitlements, assesses where the Trump administration goes from here.

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Since President Trump was inaugurated, the mounting debt (not as sexy a term as one would think) had been approaching the artificial debt limit imposed by Congress of $19.8 T (as in Terrible, Treacherous, Tragic, etc.) After months of the Treasury robbing Peter to pay Paul to prevent breaching the limit, last week Congress approved […]

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In this AEI Events Podcast, AEI’s Joseph Antos hosts health policy experts to discuss Medicare’s fiscal health following the release of the 2017 Medicare Trustees report. Paul Spitalnic, chief actuary at the Centers for Medicare and Medicaid Services, delivers the keynote address, in which he summarizes the report and discusses its implications on the future of Medicare.

In the following panel discussion, topics include the value of lifetime Social Security and Medicare benefits and taxes at different ages, the competition in the Medicare system and the possibility of a more private system than we have seen in the past, and the role of the Congressional Budget Office in the Medicare reform challenge. Panelists are comprised of Keith Fontenot (Hooper, Lundy & Bookman, PC), Maya MacGuineas (Committee for a Responsible Federal Budget), Robert Moffit (Heritage Foundation), and Eugene Steurle (Urban Institute). The conversation is moderated by AEI’s Joseph Antos.

This AEI Events Podcast discusses Social Security – the largest federal program, the largest tax most workers pay, and the largest source of income for most retirees. AEI’s Andrew G. Biggs hosts Social Security’s chief actuary, Stephen C. Goss, to discuss the recently released 2017 Social Security’s Trustees Report. He addresses the program’s sustainability and implications of the proposed reforms.

Andrew G. Biggs and Paul N. Van de Water (Center on Budget and Policy Priorities) provide comments on the report, moderated by Alex J. Pollock (R Street Institute). Dr. Van de Water examines the relationship between Disability Insurance and Old-Age and Survivors Trust Funds. He argues that they have complementary distributional effects and should be addressed together. Dr. Biggs addresses what is driving the drop in disability insurance and the variety of reasons why different people need disability insurance.

Richard Epstein examines the principles that should guide efforts to reform America’s tax system.

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The resolution entitled, (Disapproving the rule submitted by the Department of Labor relating to savings arrangements established by States for non-governmental employees) is a rescinding of a federal regulation published in August 2016.  The joint resolution is here Preview Open

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Where Affordable, Altruistic Healthcare Goes to Die

 

As conservatives, we’re never surprised by news that Obamacare hasn’t fixed the nightmares facing the typical American confronted with medical bills. Nor are we surprised when Obamacare only makes them worse. A few years ago, Jim Epstein at Reason predicted the demise of health-sharing ministries at the hands of Obamacare’s subsidized exchanges. The good news is that Epstein was wrong: Membership in health-sharing ministries has only grown as frustration with commercial prepaid plans under the Affordable Care Act continues to mount. According to the New York Times,

[M]embership in sharing ministries has more than doubled over the last six years, to 535,000 from about 200,000, according to the Alliance of Health Care Sharing Ministries.

Epstein attributes this doubling to “Obamacare’s disastrous rollout and the extent to which new mandates would drive up premiums and leave customers seeking out cheaper options.”