Social Security’s leadership has been in flux in recent years. In 2021, President Biden fired then-Commissioner Andrew Saul, a Trump administration appointee. Since then, Dr. Kilolo Kijakazi has served as acting Social Security Commissioner.
The president has now put forward former Maryland governor Martin O’Malley as his nominee to complete Saul’s unfinished term heading the Social Security Administration (SSA), which extends through Jan. 19, 2025. O’Malley appeared at a confirmation hearing before the U.S. Senate Committee on Finance last week. And he talked about some of the key changes he wants to make to Social Security.
Image source: Getty Images.
Improve Social Security’s customer service
In his prepared opening remarks to the U.S. Senate Finance Committee, O’Malley said that throughout its long history, Social Security has never missed a benefit payment and has paid beneficiaries “with a high degree of accuracy.” He added, “But today, for all its historic strengths, we must acknowledge that Social Security faces a customer service crisis.”
O’Malley pointed out a couple of examples of the federal program’s customer service problems. He noted that seniors calling SSA’s toll-free support line must wait on hold for an average of 37 minutes. The former Maryland governor stated that individuals applying for Social Security disability benefits have to wait an average of 220 days for an initial decision — and they sometimes must wait as long as two years to appeal a decision.
This poor customer service experience is “not acceptable,” O’Malley said. He told the Senate committee that Americans should be able to easily get face-to-face meetings with Social Security employees.
O’Malley cited his background as a mayor and governor in improving organizations. However, he hinted early in his prepared remarks what he believes the underlying issue with Social Security’s customer service problems is. He stated, “The truth is, today, the Social Security Administration is serving a 50% increase in beneficiary customers with the same levels of staffing they had in 1995.”
Address Social Security overpayment clawbacks
SSA’s attempts to recover overpayments made to beneficiaries have received a lot of negative publicity in recent months. O’Malley was asked about his views on this topic by several members of the Senate Finance Committee, who expressed concerns.
He acknowledged, “It’s been heartbreaking reading some of these stories” about people who were targeted by SSA for overpayment clawbacks. O’Malley especially sympathized with individuals who owed money “through no fault of their own” and for whom SSA had not seemed to take into account their personal circumstances.
The Biden nominee also specifically mentioned Social Security’s actions to recover overpayments made related to COVID-19 relief. He called such attempts “an outrage.”
O’Malley committed to correcting these problems. He told the Senate committee members, “We have to do a better job of recognizing the justice at stake in each of these individual cases.”
Sen. Sherrod Brown (D-Ohio) questioned O’Malley about limits on the amount of assets that SSA allows beneficiaries to own. Those limits currently stand at $2,000 for individuals and $3,000 for married couples and haven’t been adjusted for inflation in decades.
O’Malley agreed that these limits were “a leading cause” of the overpayment problems and represented “a huge administrative burden” for SSA. He also stated that legislation to increase the asset limits “would absolutely not only be the right thing to do for the recipients, the right policy, but would also reduce the huge administrative burden that Social Security has to go through.”
What Biden’s nominee can’t do about Social Security
If he’s confirmed as Social Security Commissioner, there’s one glaring thing that O’Malley can’t do anything about on his own: prevent Social Security from going insolvent. This issue makes Social Security’s customer service and overpayment problems pale in comparison.
O’Malley addressed the elephant in the room during his testimony before the Senate committee. He said that it was Congress’s job to pass legislation to help Social Security avoid insolvency. He also committed to supporting bipartisan efforts to bolster the program’s finances.
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This guy is a loser. He is a place holder on the Titanic. The discussion about asset limits is related to SSI and not FICA based Social Security. If appointed, his main job will be spouting diversity this, diversity that, blah blah blah.
Is Biden’s pick going to give our Social Security to illegals? Will he use it to make deals with foreign adversaries and personal money?
The illegals are getting ssi for up to 7 years and it can be extended. Among other benefits
And yet there are teachers, leagal citizens working for little more than what they could make at McDonalds, and no social security!!!
Exactly. Obviously this person doesn’t know his subject matter. Yet, here he is, getting paid for communicating erroneous information
BS. Name where this is happening, city, state, where? You are spewing nonsense, nothing more.
Hey, teachers contributed to a pension, not social security, so up to 2/3 of the pension counts against whatever SS benefits you might be insured for. If you had paid SS taxes on it, it wouldn’t matter.
Everyone who works pays into social security (except perhaps the illegal aliens).
At least in my state, teachers do not get social security as they have a state funded, state mangaged, pension system, and THEY DON”T PAY ANY FICA TAX!
Boy, I don’t know whether to thumbs up or down on that one. The issue is not with the statement, but it’s THUMBS DOWN that the government would give that to NON CITIZENS. But, afterall, this IS the great replacement policy of the o’biden administration and selected republicans.
This Agenda 21, 2030, 2050 globalist alignment with United States government is unacceptable. Americans should have a say so when treaties, compacts, agreements with the WHO (coming very soon), the world, the UN, the… are even a thought to be made, and WE should have a veto vote.
They are giving non citizens our social security. Go to SSA and look up SSI and SSDI for “asylum seekers”. You’ll see there are many many conditions they can meet to get SSI for at least 7 YEARS. On US. It’s complete BS
That isn’t true & you know it. If you have to lie because of political differences, then your policies aren’t any good.
I encourage everyone to go see the appearances on C-SPAN, as Commisioner O’Malley responds to Congress.
Go to SSA and look up SSI and SSDI for “asylum seekers”. You’ll see there are many many conditions they can meet to get SSI for at least 7 YEARS. On US. It’s unacceptable
This keeps saying I already said this. I’ve never commented here!!
Deborah Clausen is correct. Here is the link which proves non-citizens, including asylum seekers can access and deplete this program funded by American Taxpayers.
https://www.ssa.gov/ssi/spotlights/spot-non-citizens.htm
Youn can be guaranteed that illegal aliens will get our social security. He will use this and much much more of our money to buy their votes come Nov. That’s his whole reason for his wide open border. The criminals that get here aren’t his worry, they’re YOURS.
Biden can not give our social security to illegals.
He already does. And more are signing up. Dems are registering them now.
This is actually a fairly easy fix. All of the money we give away to other countries must stop for the most part. Half of that giveaway money should go into SS. The billions spent on illegals should be illegal. Wasn’t made for that. Pass laws to stop that. Politicians should not be allowed to touch that money. We are talking a half a trillion dollars on illegals that a lot are now creating major crimes. We are paying for them to commit crimes? They can fix this easily. However, the only Politicians that are good at this are the ones that have worked in the real world. Most politicians are lawyers from better to do families and never held a real job? That formula will never work. This fix isn’t that hard and they make it hard. We can fix this SS thing. They are doing it
They are giving non citizens our social security. Go to SSA and look up SSI and SSDI for “asylum seekers”. You’ll see there are many many conditions they can meet to get SSI for at least 7 YEARS. On US. It’s unacceptable
They are giving non citizens our social security. Go to SSA and look up SSI and SSDI for “asylum seekers”. You’ll see there are many many conditions they can meet to get SSI for at least 7 YEARS. On US. It’s unacceptable
This keeps saying I already said this. I’ve never commented here!!
Really? Biden was ordered by the Supreme Court to stop the student loan forgiveness BS. But the POS is doing it anyway! We are all naive to think the gov’t can’t do this or that. We the people have given the gov’t our control, and they can do anything they want with a few backdoor deals!
Democrats have abused the whole Social Security system. Nancy Pelosi moved the money to the general fund in order to use our SS dollars for those who didn’t contribute the first DOLLAR!! And…THEY WILL give our money to ILLEGAL ALIENS!!! I despise Democrat Communist Party!
LIE! the abuse and attacks on SS started with and remains with republicans. reagan went on aa anti SS rampage in the 80s
Show me! Most of the Republicans were like Bush’s and were the same as the Democrats that year. Both parties were Globalists. Hense the change to Trump, no affiliation.
People work and pay into Social Security so that the can have a retirement income . This has been law since FDR signed off on it when program was created . For many it is there only retirement safety net . Of course this guy now in the White House hopes to take that away from those who paid into it and give funds to illegals who have not contributed dime one . Guess by doing so it makes it easier for him to siphon off a share for himself and his cronies .
When FDR created the program, most people didn’t live past 65. IT was largely the improvements in housing, safe transportation and working conditions that resulted in longer lifespans, along with the discovery of penacilin, then tetracycline. People stopped dying of pneumonia like they used to. Politicians never expected the fastest growing portion of the population to be the >100 cohort.
SSA has got to stop being the government’s piggy bank. SSA sent $4.48 million to Kyle (Ukraine) between 2022 and 2023. No wonder it’s running out of money.
“SSA has got to stop being the government’s piggy bank. SSA sent $4.48 million to Kyle”,
s this true? I have never heard about SS been used for other countries.
Illegals now are allowed to collect SSDI in the amount of $1,500 per month because they are considered disabled because they do not speak English. Thet are pushed to the head of the line and that $1,500 per month is for life. Literally have not paid one cent into Social Security but can get disability. Biden Did this. You can go to the SS page and see it right there. They refer to them as “non-citzens”. Meanwhile we have seniors voting for Biden because they are told that Trump will take away their SS.
Not even close to true. Social Security benefits are only available to US Citizens, US Permanent Residents who meet all other qualifications and worked long enough.
You need to get your head out of the sand and look it up. Yes they can. https://www.ssa.gov/pubs/EN-05-11051.pdf
They already are given it to illegals..
My reply to you is that “if you do not pay Social Security tax” then you should not collect SS.
Watch what happens. It is pretty clear that they do not know how to hire. They need to hire the best. It is not that hard to figure out. They are not doing that.
Any thing this gang of quota hire white hating marxist and zionist agents does will result in the destruction of the country !A senile pedo kick back hustler and his bagman dopper son have creamed millions from CCP frount companies helping place them in key sections of the power grid ! The flood of afro hispanic gangs now is being reinforced by thousands of Chinese and african canibals and Haitians from a failed sht state were gangs control that country !Did the cadaver get a kick back for hiring a 85% zionist cabinet ?
They forgot to mention that the govenment has been robbing the Social Security Funds for years and using the money illegally for whatever they want. This fund was by law, was to be “untouchable” and the interest generated on the funds alone would have contributed to available funds which would have protected the avaiable payments to the “AMERICAN CITIZENS” who worked all their lives and paid into this fund for retirement!
Best comment so far
It all started with lyndon b johnson after president kennedy was killed. Johnson was the first One start robbing social security
Also, don’t 4get, it was Biden who spearheaded the mess to tax social security!
Thanks for the asset limit correction being related to SSI. I was like ‘what the heck’ are they talking about?
Now, my next question is are all these clawbacks we’ve been reading about in the news related to SSI and Soc Sec payments?
The asset limit they were talking about is for medicaid, there is no asset limit for social security. The Author needs to fact check himself/herself and stop the misinformation!
The baby boom is over and there are far fewer US citizens applying for benefits than the last twenty years just based on common sense alone. The 20 million new illegal alien “customers” is another matter.
They isn’t true. Actually the DEI push has been backburnered. They have returned to an emphasis on getting things done correctly, and getting more people hired to replace those who retired, rather than subject themselves to drama, jabs, and crazy workloads anymore.
O’Malley is known for data driven performance improvements in the government sector. He supports training and competency while implementing technology. That agency has no option of doing a stand down like US Dept of Education! Checks must continually be prepared for 2 programs, Social Security and Supplemental Security Income. SSA is also responsible for Medicare enrollment and interfaces with State programs as well.
On top of this, SSA must also fight FRAUD. This takes TIME and DILIGENCE. The calls take so long because of the care to protect privacy and the program. Customers get ticked—I hear, but that is the responsibility of government, to administer programs fairly and with great care.
The government is giving our social security to the illegals. That is the reason funds are running out. Social security should only be given to the people that worked years to build up their funds. Social security deposits were not to be used for anything but social security. But how many times have they borrowed from the fund and never paid it back. They needs to stop taking our money. It’s running out because the government is using the fund for their use.
Right. That was a terrible error and could really mislead readers.
drag biden by the hair to gitmo for a full military tribunal, and charges for HIGH TREASON AGAINST ALL CITIZENS OF THE UNITED STATES. TAKE HIS STUPID WIFE AND SON ALONG FOR THEIR TRIBUNALS ALSO. PRISON IS TOO GOOD FOR THESE KILLERS. THEY NEED TO EXPERIENCE THEIR GITMO LAST DAY O EARTH.. COMMUNISTS KAMALA AND WALZ TO FOLLOW QUICKLY.
drag biden by the hair to gitmo for a full military tribunal, and charges for HIGH TREASON AGAINST ALL CITIZENS OF THE UNITED STATES. TAKE HIS STUPID WIFE AND SON ALONG FOR THEIR TRIBUNALS ALSO. PRISON IS TOO GOOD FOR THESE KILLERS. THEY NEED TO EXPERIENCE THEIR GITMO LAST DAY O EARTH.. COMMUNISTS KAMALA AND WALZ TO FOLLOW QUICKLY.
I HAVE NEVER POSTED ON THIS SITE. IT KEEPS SAYING I AM REPEATING MY COMMENT. NOT TRUE. YOUR COMMUNIST SITE SCRUBBBER WILL NOT ALLOW TRUTHS TO BE POSTED HERE. FAKE FRAUD AND P HONY, JUST LIKE THE OBAMAJOEBIDENKAMALAWALZ FAKES AND FRAUDS.
A 37-minute wait would be a snap compared to the Veterans Administration’s wait time. I once waited almost 4 (four) hours, repeatedly hearing the message “your call will be taken in the order it was received.” Can the VA not hire more call takers or add phone lines?? This is obscene. This is not an isolated occurrence. To call my local VA clinic (30 miles away), the common practice is to go thru the switchboard of a hospital 120 (one hundred twenty) miles away.
Yes, It really gets to me when they keep saying “your call is important to us, please stay on the line and the next available agent will be with you shortly”! If it’s so “important” do something about it! I’ve had my phone die multiple times while on hold — at least it was the phone and not me!
come April, the VA will be hiring more people for the Call centers.
those hired will work from home.
which means, free internet and a Government laptop.
people need to apply through the U.S. Government Jobs website.
you can apply and earn extra income..
AND, get to schedule your own appointments.
Looking at the website, looks like you have to already be a VA employee to apply. ???
Call centers located in India…
Fluency in Hindi and Urdu required.
Congress could easily give Social Security a boost by having EVERYONE pay FICA on ALL their income. This means people who make more than $168,600 would have to continue paying FICA on their income like the rest of us do. If some poor fellow who is making minimum wage has to pay FICA on his full salary, why would you allow someone who makes nearly $200,000 stop paying when he hits $168,600? It doesn’t make any sense at all. Congress is just afraid to tax their big donors. This is such a simple solution and I’m sure 98% of the country would agree with it.
Why would you allow someone who makes nearly $200,000 stop getting benefits for the increased taxes? It doesn’t make any sense at all. Except to democrats who like to increase taxes but not provide more benefits
Sally, you do not understand how SS gets funded and how its benefits are paid out. If 100% of all income is FICA taxed it will make the SS system solvent for only a couple more years (this has been studied to death) which is a far cry from boosting benefits. Moreover, there is a limit to taxable income because there is a maximum social security benefit, so if you want to apply FICA tax on someone making $16.8M/year (100X current limit) then you must also be fine with them collecting 100x as much in benefits – since this is only fair right? I bet you don’t like that idea, do you? Another overlooked aspect, and one Democrats never point out, is that the more tax dollars you pay the less percentage you get out. For example, someone who pays FICA taxes on only $12k of income actually will receive $10k of annual SS benefits. In contrast, someone who pays the maximum FICA tax on $168k of income will receive $45k of annual income (so they paid 13 times more in FICA taxes but only got 3.5X more in benefits). The system is designed to help the lower-income people so the upper-income earners are already subsidizing the lower-income workers who get a much higher SS benefit as a percentage of income. I bet you never heard a Democrat tell you that.
Sally ,
I am not against what you are saying but I hear this time and time again. My question is as follows, ” Do these people that would pay additional FICA on SS also get corresponding increased benefits ? Nobody ever discusses that.
If they do then wouldn’t it even itself out over time?
I am just trying to learn more . Please anyone answer. Thanks
I’d wager they would get some increased benefit based on covered wages calculations but likely not a $ for $ paid in increase.
While I was working, I’d hit the SS FICA tax cap around Oct/Nov ( a few years ago the caps were lower than now) and my “take home pay” went up a bit. I thought about this back then and didn’t understand the ins and outs of why there was a cap on income taxed for SS, still not sure of the basis unless it is an old out of date model that doesn’t put enough into the SSTF.
Congress could easily give Social Security a boost by giving the $60 billion we’ve wasted in Ukraine to the SS fund.
The US has given $200 billion to Ukraine & is still sending money Obiden can steal from different agencies w/o approval from Congress.
“Old Sailor”, you obviously forgot Biden’s promise: “whatever it takes”. Translation….you can have as much of our money as you want,it’s just our citizens who have to go begging.
The US has given $200 billion to Ukraine & is still sending money Obiden can steal from different agencies w/o approval from Congress.
Removing the “CAP” is the FIRST thing they should have done years ago. Another action is to eliminate the 401 tax breaks and give those funds to SSTF.
So if I do not contribute to a 401(K) then I share in what you contributed? What a stupid Idea.
Joe wouldn’t. But Donald would line his own pockets, as he has done for decades!
Ben, you’re either a bot or an idiot. Which is it?
Did Joe forego his President’s salary like Donald did?!
Maybe the person who makes more than $168,000 worked a lot more. The limit on getting paid more for working more stops at that amount.
Absolutely!!!! I have done payroll for various employers over my 40 years of employment and I never have understood the reasoning on this. ALL income should pay FICA taxes.
tax on all income could balance our budget in 5 seconds
Problem is is crooked, politicians, steal it won’t use it for what it’s intended to be used for Social Security. Many is a person need to taking money from Social Security even Busch I think he paid for his trips to Bohemian Grove. Democrats go to other countries and resorts have meetings secret.. stop giving money to illegals and close the border. There’s plenty of money take care of your own people.
What, this is not what is happening. SS has been underfunded for decades now but the politicians are too afraid to do anything about it since they know the opposition party will tar and feather them for any suggestion to increase taxes, reduce benefits, or delay getting benefits.
Congress has no problems in raising tax, and then the FED has to increase interest to try and off set their financial illiteracy our Congress’s has in its eagerness to give $Trillions away to foreign governments, causes and terrorist organizations. That money should be used to shore up Social Security, Veterans Affairs programs, and Education programs. The American people have been sold out for decades by D.C, by both Parties, for decades, and taxing those earning over $168k to add to the pot, isn’t going to do it. Our government has shown, repeatedly, that it cares more for foreigners than it does it Retirees, Veterans, and our school aged youth..
Only if we stop the waste of taxpayer’s monies in places like the War Department which can’t even do a decent audit of the department. If we were the world’s largest oil producer under Trump, why are we involved in the Mid-East at all? Israel is the supreme military in the region and it is koaded with nukes that the Israeli’s will have no trouble using. If the Persians and their mullah’s want to see Iran destroyed, let them start a war with Israel.
How soon we forget; we didn’t want to participate in “Eurooe’s problems” that turned into the deadliest war in the ‘World to that date. It wasn’t until the US joined allies that this got resolved. Same with WW II, the US wanted to stay out; but who knows what the World would look like if the Axis countries were allowed to continue with the US participation. Our World today is at least as dangerous as it was before and during the two WW’s. Russia, China, North Korea, the Middle East could all explode with the US and European and Asian Allies. And the truth is that the US might be better off focusing its attention and yes some of its money on leading a coalition of nations to prevent other free nations from being over run by today’s bad guys.
Shouldn’t have to do any of that, just stop paying Illegals and stop giving billions to countries who hate us! I.E. Take care of our own FIRST..
I think a lot of the problem is that our government “BORROWED” SS money out of the fund and used it for other purposes and never repaid it.
Only if the tax rate was insanely high for everyone. But your comment has nothing to do with SS taxes.
You are an idiot. The United States Federal Government is BANKRUPT! Why do you think spending money made from nothing but digitally printed cash is ruining the value of the Dollar? The more the US leans towards Communism the worst it will get. TRUMP ’24
Right on John!!
Why doesnt congress stop giving social security payments to every Tom Dick andHarry who hasnt contributed OR using that money for their own personnel bank account to pay for their over spending GO back to using social security for what it was intended for
The biggest ripoff was the “windfall provision” that cut my benefit in half , and losing two appeals that cited their own conditions for collection of my overpayment! They cut my benefit to zero for an entire year, and took all of my Social Security benefit! ALL! Punitive!!! Dr Turner
We paid into this insurance program over long years, and do not need ANYONE to tell us that we cannot collect on it now. Read all of the words, before spouting remarks about taxing our SS payments. This is not an entitlement, except for the “new illegals who have been added onto the program for payments when they have not paid in ONE CENT. Many ‘families’ zre now able to add on their spouses without merit, their boyfriends, children who do not qualify for Social Security, and ‘hangers-on” who are skilled at stealing from th US Govt. at a Social Security Office. START TIGHT THERE, and clean up the local level of CORRUPTION which allows unqualified people to colllect on a monthly, yearly basis. Want names, addresses and phonenumbers of these criminals? Send out a small paper notice to all SS recipients. WE WILL BE GLAD TO TURN THE CRIMINALS IN. tHIS MONEY IS NOT A GIFT TO US, WE PAID IT INTO THE PROGRAM.
Tax the mega churches
Tax the tax except govt offices and building and universities.
And all of the “non-profits” that make much $$
Tax your tv.
I damn well could have retired comfortably if I had been able to take the money I put in plus what my company paid!! But Congress needs to keep that money close to them for some reason
Secondly, Yet another liberal gets the call to serve the government and the first thing they always say is we need more help! We need more Money! Forget that BS, since Obama started this hiring in the Federal Government we have probably tripled the people working on our dime. Believe me. Government Departments need a house cleaning and an elimination of perks!! Instead they need new bigger buildings!! This needs to stop!!
Does Mr. O’Malley have any plans on getting back all the money (trillion’s I believe) that our elected representative took out of the SS slush fund for their own pet projects and never paid back?
Don’t worry folks – the number of retirees who took the Govt-mandated bioweapon jab will die just to thin the ranks and make SS viable for years to come. I am beginning to believe that is all this culling was intended to do – to balance the books and get rid of useless eaters. I skipped the jabs, use holistic medicine, am healthy and will live for decades more or die fighting for what this country used to stand for.
This is the U.S. government version of the Ponzi Scheme. We were not invited to contribute to the Social Security Fund, but commanded to contribute through our work. The government has had our money to invest and grow, the same as if it had been invested in a reputable financial house, but has squandered, borrowed from it, and misused it time after time. And now we are faced with the unwashed masses streaming across our unsecured borders for lo unto 20+ years, all wanting to share in our proceeds without having contributed anything but need. And the Washington cesspool salivating at being able to absorb them into our society and use the funds that are rightfully ours to accomplish that task. A solution that would benefit the citizens of this country would be to go through each of the old politicians (the new ones aren’t the offenders) financials and levy a fine of at least 80% to be paid into the Social Security Trust as repayment for their past thefts from the system. Both political parties!!
Actually, if memory serves, it was the Democrats to put the social security trust fund receipts into the general fund. Just couldn’t stand all that money sitting there and not bribing or padding someones wallet….
You are right on the money (pun intended). It was President Lyndon B. Johnson who signed the documents that moved the SS funds into the General Funds to use those SS funds to help cover the costs of OTHER government programs. THANK YOU DEMOCRATS!
How about all the money Nancy Pelosi took to cover her corruption! The government has been dipping into social security for years to cover their over spending! Why didn’t someone get arrested for stealing money out of social security? Over 40 years of work and got $1300 A month. But some disgusting illegal is getting a check for $4,000 A month from social security. Joe Biden needs arrested for treason and putting people in charge of social security who are not qualified even for a dog poop picker upper!
President George Bush proposed a plan to save SS in his first term but of course it went no where. I was really rooting for him to at last DO SOMETHING! How many seniors know that there is no such thing as the Social Security lock box? The money we paid all our working lives goes directly into the general fund where it is spent. That is why we are 37 trillion in debt to the Chinese communists and have to toll the line or they will call in their chips. Lets give them California. They already own it anyway.
I certainly don’t know how much you earned during those 40 years, but $1300 sounds like a very low Social Security check for all those years of working. If you believe that there may have been an error, consider contacting Social Security to discuss your concerns. Hopefully, you kept up with your yearly earnings, which they provide in an annual Social Security statement online at their website.
“some disgusting illegal is getting a check for $4,000 A month from social security”
I’m not a supporter of The Big Guy at all, but where did you get this info from?
The completely uninformed comments here are amazing. You people don’t have a clue about how benefits are calculated, what FICA contributions mean, the difference between SSA benefits and SSI benefits. The ignorance is mindblowing. What this means is that the Social Security Administration has done a horrible job in enlightening the public about the program. That is a problem and leads to each and every misstated, misinterpreted and maladjusted comment that is on this page. Please try to inform yourselves at least a little bit before spouting nonsensical drivel.
BigBlue56 you are so on point and over the years I have had endless discussions with people who have absolutely no clue how SS works but are angry about the system nonetheless. In only a couple of hours, anyone can become educated on how the SS system was setup, funded, how it pays out, and why it’s on the brink of insolvency. They will also learn why the FICA tax (not medicare tax) is limited to an income cap (currently $168k for 2024) and why the payouts are also progressive, i.e. lower income people get a much higher percentage payout (democrats always hide this fact).
Superb and critically important points BigBlue56. I am teaching introductory economics at a local college and make it a point to discuss social security basics as a miscellaneous topic – for their knowledge in planning their financial futures as well as being informed voters.
Sadly, your points apply to many areas so our discussions quickly devolve into swamp-talk.
End discrimination against working folks. Eliminate taxes on Social Security. We don’t tax welfare benefits yet we tax SSI and Unemployment? It makes no sense.
Personally, I was taught back in the 70s that when social security began it was to only supplement workers’ retirement income. Of course, over the years more and more workers were under the impression it would be enough income on which to retire. We all know, many people today have to supplement their SS retirement benefits by continuing to work till they are too old, die or either taken care of by loved-ones. If there are no loved ones; they may end up in a nursing home where they could very well be mistreated.
When George Bush Jr suggested a plan very similar-if not the same plan as the Thrift Savings Plan (TSP)-used by the USPS he was shouted down by the masses saying, ‘Using part of our wages on Wall Street is like gambling with our retirement!!’ Well, there are Postal Workers in the TSP making hundreds of thousands of dollars prior to retirement.
In 1935, the life expectancy of a white male was 63 years of age.
Joe wouldn’t. But Donald would line his own pockets, as he has done for decades!O
In my 70’s I had a silent heart attack. 2 open hearts and and a pig valve later I”m 91.
The hospital bill was a million dollars, not including doctors.. Without SS I wouldn’t
be here to write this or seen my 4 kids, 5 grandkids and 3 (so far) great, great grandkids
born.
The best comment
Well if the House and Senate hadn’t raided SS funds, we wouldn’t have to worry about insolvency.
If Joe Biden had not been in politics social security would of not been taxed at all he is the one that suggested taxing it period.
If SS had been keeping my FICA deductions in a lockbox with just 5% interest a year (as opposed to the real-world 10%), like they were supposed to, instead of the Uniparty stealing it from the lockbox, and spending it on wars and non-taxpayer voter-candy goodies, I calculate I would be getting $5000 a month, not $1500. Congress is nothing but thieves, liars, and criminals.
Hmm, read up on the Railroad Retirement program (RRB). The government also manages it but it’s exclusive for RR employees and they don’t pay into SS. The RRB employees contribute slightly more than others for SS/OASDI but can retire earlier and get about twice as much $ in retirement benefit.
Can you say MIS-MANAGEMENT?
I’m still not comprehending if we allow all the people to not work and receive money then everyone will stop working and no one will get any money so you have to what share what money you have made your entire life in the name of DEI – give me a break – everyone should simply stop paying their taxes in this country – you want illegals (not migrants) in this country then you support them – US citizens have to show 6 points of ID to renew a stupid driver license while illegals are being flown into this country by this ADMINISTRATION and getting pushed through for citizenship and licenses, etc. with no ID. wake up America
o’malley was the failed derm mayor of Boston then labor secretary under joebama and was a union thug as well with alleged tie dating back to to whitely bulger
Why do the Dems like to conflate/include OASDI and SSI benefits together when mentioning restrictions on SSI beneficiaries? The remark about $2,000 in assets is for SSI (i.e. handout) recipients, not OASDI, benefits from monies actually worked for and paid in.
Fixing SS is easy. Fire everyone who works there, destroy the union that controls it and hire new workers who know the value of work and reward. Not a bunch of political punks who lord their fiefdoms over the rest of us.
All they have to do to keep Social Security Tax cap from $168,000 dollars to $400,000 dollars and it will be solvent Why do they continue to keep kicking the can down the road? Because they want people to control when they give practically everything to everyone else but us Americans who do and have earned it.
Talk about getting screwed over, I started collecting at 67. I am still working and pay each year into the system. I am now 79 and still working any paying. So what do my benefits reflect for the 12 years of contributions? ZIPPO!!! The whole system is just a wealth transfer scheme to soak those who could pay for the benefit of those who could not. The topper is that in 2021 I had an unusual capital gain, a one-time shot that hit someone’s radar, and I am now subject to the clawback which makes me pay more for Medicare as well as have less benefits. I really don’t have high hopes for my reconsideration of the claw back.
Social Security can easily be fixed by giving everyone an individual account that they pay into., sort of like an IRA. The government then provides several options for investing those funds, the least of which is a guaranteed minimum interest rate. Other options could e stocks, bonds, annuities, etc. Those investments would be in the private sector but overseen by federal appointed fiduciaries.
Just like with IRAs, when it’s time to retire, they set a Requites Minimum Distribution annually. Any funds left over when you die go to your designated heir(s).
Funding would be through a payroll tax just like like FICA is now, but you could optionally add additional funds up to a limit, just like IRAs. Your account would be handled just like Roth IRAs – funds put in would not be tax deductible and funds received during retirement would not be taxed.
A very simple system. You get out of your account what you put in, plus the investment income for as long as you live, and your heirs get any leftover funds. It is just like a flat tax, not progressive or regressive. Anyone who puts in the minimum amount will get a minimum amount out during retirement. All employed people would be required to contribute. If you’re not employed, you are not required to contribute and you will not get anything when you retire. Those people who can’t work will continue to get their welfare benefits.
Congress should implement this system either today or tomorrow! It doesn’t take 50 lawyers or liberal activists to write up the rules for a system that allows no exceptions or deductions, and has no age, family size, ethnicity, race or minimum income requirements.
This is a fantastic idea – you’ve just invented the Thrift Savings Plan.
This has one setback; it’s too simple too intelligent, and too efficient.
Beyond that; wasn’t the SS account separate from the general account but then dumped into the general account/budget to show some financial wizardry?
In Tennessee Social security part B help has come to an end. Almost 200.00 will be deducted out of checks leaving little to live on. What’s Biden going to do about it. SS always get the butt end of things.
This is actually a fairly easy fix. All of the money we give away to other countries must stop for the most part. Half of that giveaway money should go into SS. The billions spent on illegals should be illegal. Wasn’t made for that. Pass laws to stop that. Politicians should not be allowed to touch that money. We are talking a half a trillion dollars on illegals that a lot are now creating major crimes. We are paying for them to commit crimes? They can fix this easily. However, the only Politicians that are good at this are the ones that have worked in the real world. Most politicians are lawyers from better to do families and never held a real job? That formula will never work. This fix isn’t that hard and they make it hard. We can fix this SS thing.
I see that all my sister’s SS contributions have not *grown* one iota. wtf they doing with the money they stole from her paychecks? Even a fool can place that money into a saving account and grow it. The govt MUST pay you interest on the money they took from you (imo). Moreover, based on math, no way can ppl live long enough to recoup all the money taken from their paycheck and given to SS. Why is the govt allowed to conduct a ponzi scheme, and not give you interest on the money they took from you?
The number of ignorant trolls commenting shows why similarly vapid, grossly incompetent, fascistic, legislators, are elected to high office. Vote blue.