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Why the Real Social Security Crisis Will Start in 2020
Social Security has a substantial funding gap. According to its trustees’ best projections. its Disability Insurance Trust Fund will run out of money next year. Its Old-Age and Survivors Trust Fund will empty in 2034. If those two trust funds are…
Uncle Sam Is Coming After Your Savings
Earlier in the week, I discussed the Obama administration’s proposal to tax earnings on so-called 529 college savings plans, part of a package of tax hikes that will pay for new programs such as his proposal to make the first…
These taxes are going up, sooner or later
Budget softies argue there’s no need to worry about a federal money crunch now, since Washington’s annual deficit is falling, the economy’s picking up, and the Treasury can still borrow at remarkably low rates. All true. But barring an economic…
Don’t Tax The Rich To Benefit The Middle Class, Help The Poor Instead
In his State of the Union Speech, President Obama called for tax increases on the rich in order to pass out goodies to the middle class. In particular, he wants to raise capital gains taxes on the rich and use…
Overlooked in Obama’s State of the Union: We’re Broke
Last night’s State of the Union address was a repeat of what we have experienced many times in the last six years: The president thinks of himself as a reasonable compromiser, he calls for bipartisanship and working together with Congress and…
In State of the Union, Obama Defiantly Sets a Broad Agenda
President Obama claimed credit on Tuesday for an improving economy and defiantly told his Republican adversaries in Congress to “turn the page” by supporting an expensive domestic agenda aimed at improving the fortunes of the middle class. Released from the political constraints…
Legislative Update: January 2015
As with the start of any new Congress, TSCL is encouraging Senators and Representatives to reintroduce and cosponsor key legislation for seniors, like the Consumer Price Index for Elderly Consumers Act, the Strengthening Social Security Act, the Notch Fairness Act,…
State of the Union 2015: Will there be any surprises?
President Barack Obama has spent the past few weeks previewing some of the biggest ideas that will be in Tuesday’s State of the Union address, touring the country to keep its attention on him even as the new Republican Congress…
EVERYTHING SOCIAL SECURITY: Be of service this Martin Luther King Jr. Day
Monday, Jan. 19 is Martin Luther King Jr. Day. On this day, we celebrate the birthday of the civil rights leader and nonviolent activist. To many people, the holiday is more that an observance of an American hero. It is…
Average Americans Gets This Much From Social Security. How Do You Compare?
Nearly 59 million Americans get benefits from Social Security, and the Social Security Administrations pays out more than $70 billion in benefits every month to retirees, disabled workers, and their families. Out of that amount, almost 42 million Social Security…