Social Security bill would give seniors an extra $2,400 a year. WHY❓

“The new bill would seek to lessen the strain on people collecting Social Security by boosting each recipient’s monthly check by $200 — an annual increase of $2,400.  “Many, many seniors rely on Social Security for the majority, if not all, of their income,” said Martha Shedden, president of the National Association of Registered Social Security Analysts. “$200 a month can make a significant difference for many people.

“With half of older Americans having no retirement savings, and millions living in poverty, it’s far past time to address the future of Social Security,” Rep. Steve Cohen, D.-Tennessee, a cosponsor of the bill, said in a statement. In a tweet, he called the $147,000 cap on Social Security taxes “indefensible.”  

Source: Social Security bill would give seniors an extra $2,400 a year. Here’s how it would work. – CBS News

Why in the world do senior citizens – already consuming most federal spending via Social Security and Medicare – deserve more?

Didn’t we have thirty or forty years to plan for retirement? Aren’t there scores of tax laws to help with that planning? Why do politicians feel it necessary to paint all of a group with one brush? People living life-long in or near poverty are one thing, the rest of us are something quite different. We have no right to keep taking.

Whose fault is it if “half” of older Americans have no retirement savings – a questionable fact for sure.

Of course the $147,000 taxable wage cap is indefensible, but not for the fair share reasons Cohen pushes. It’s indefensible because it should have been raised more than it has, along with the tax percentage, to keep the Trust solvent and to preserve the basic principles for funding Social Security. Earnings above the taxable wage cap receive no credit toward the benefit paid.

Regardless of total income, everyone is treated the same. Cohen and friends want to change that.

Workers and employers have been paying into Social Security for eighty five years.

Social Security taxes were first collected in January 1937 with workers and employers each paying one percent of the first $3,000 in wages and salary. While not so simple, applying inflation to the 2% combined tax, today it would be 39%.

What is simple is the fact that Congress has made numerous changes to Social Security over the years and failed to adequately fund them. It is also true that the demographics of the population has changed.

In 1945 the ratio of workers to beneficiaries was 41.9, in 1980 it was 3.2 and by 2010 2.9. Now there are currently 2.7 covered workers per each Social Security beneficiary. By 2035, there will be 2.3 covered workers for each beneficiary. In addition the life expectancy at age 65 has increased by over six years. Fewer people paying taxes, more people collecting benefits.

Not regularly adjusting taxes for such changes is what is truly indefensible‼️‼️‼️

Taxing higher earners on earnings not used in the benefit formula is indefensible. It changes the very principles behind Social Security and for political expedience makes it more and more a welfare program.


  1. The problem is people look at this like it’s welfare. It’s not. By the time I can collect I will have paid 7.65 percent of my income with the company matching for 51 years. I will never collect even a small portion of what has been paid in. The issue is it was changed to the ss and disability act. More money is now paid out to individuals claiming disability who are not of retirement age than is paid to retirees. A few years ago I had to go to the ss office to get a new card. The place was packed and I was just about the only one who spoke English there. The clerk who processed me told me they were all there to file for disability.


  2. My opinion only and take it for what it’s worth. Social Security and Medicare are as good as it is going to get right now. The rest of the baby boomers are steadily climbing aboard and the outlays are increasing due to higher Colas starting last January. Medicare is paying providers small potatoes compared to other insurance plans. What is going on now is electioneering by reps and senators who just want to get on the bandwagon by saying “I am just trying to help the poor, old folks.” The rest of these giveaway schemes are by various advocate groups who put out this nonsense monthly and then solicit funds to keep spreading it. I guess it is easier than a regular job to them. There isn’t any excess cash sitting in Washington ready to be doled out to Social Security recipients. It would be great if it were true but it’s not true. The piggy bank is in pieces.


  3. I would hope that they make this income dependent. It would be ridiculous to give this to wealthy seniors. I don’t begrudge all people who rely almost entirely on Social Security. There are many elderly single women (and some men) who did not have an advanced education or high intelligence and had lower wage jobs without medical benefits all their lives. And bad luck followed them. As my late mother used to say ” There but for the grace of God go I”. I also know there are people who could have and should have saved more but instead wasted money . Probably not the majority of low income seniors though.


  4. How many seniors are “many”? There is no doubt that seniors would use the extra $200 a month. So would non-seniors too. But do they NEED the money to survive? If a senior NEEDS help there are about 3 dozen programs in NJ to help them between federal, state, county, and private sources according to a quick Google search.
    My mother worked in the 1980s and 1990s for the county social services (before the internet). Seniors often didn’t know about various programs until it was too late ( like heating assistance). It would break my mother’s heart when someone would come in and a program spent its budget for the year. Programs like this need to be properly funded first. We should not generically be giving money away so seniors can go out to eat or on vacation.
    Reaching an certain age doesn’t make you entitled to anything.


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