Community Chat

[gertrudecloset]

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@geezerette wrote:

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@50Mickey wrote:

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@SharkE wrote:

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@50Mickey wrote:

@hckynut    Maximum  benefit is $3895. To receive this you need 35 years of high earnings.   

Social Security and Medicare are entitlements because those who have paid into the system for the required number of quarters are entitled to receive these benefits without means testing. In this case entitlement is NOT a derogatory term. 

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above @50Mickey . Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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@SharkE   I don't know anything about this Sharke.

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@50Mickey 

@SharkE 

Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

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@geezerette please cite a source for this supposed factual info.  Thanks.

[gertrudecloset]

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@feline groovy wrote:

IIRC, those receiving SSDI will get an extra $70.00/month.

If that's their only income. and especially if they have zero assets, it will be much appreciated.

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This will depend on the amount of what they are receiving.  SSDI beneficiaries can draw the same amounts as retirees.....So, again it depends on your yearly amount.  Some folks get more than others @feline groovy .  If you saw that figure somewhwere they are talking about nationwide average.

[gertrudecloset]

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@Diggerdan wrote:
COLA more than wiped out by Medicare increase.

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Maybe your monthly amount @Diggerdan , but not everyone's this time around.

[geezerette]

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@gertrudecloset wrote:

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@geezerette wrote:

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@50Mickey wrote:

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@SharkE wrote:

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@50Mickey wrote:

@hckynut    Maximum  benefit is $3895. To receive this you need 35 years of high earnings.   

Social Security and Medicare are entitlements because those who have paid into the system for the required number of quarters are entitled to receive these benefits without means testing. In this case entitlement is NOT a derogatory term. 

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above @50Mickey . Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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@SharkE   I don't know anything about this Sharke.

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@50Mickey 

@SharkE 

Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

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@geezerette please cite a source for this supposed factual info.  Thanks.

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@gertrudecloset 

Just do a simple search.  There are many sites reporting it.   Various interpretations, some not necessarily correct.  And, as I said, it's just being discussed by treasury, etc. 

[MorningLover]

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above.  Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

 American Banker-

WASHINGTON — Lawmakers are attempting to soften a plan to require bank and credit union reporting of account data to the Internal Revenue Service, but industry groups say they are still opposed to the idea.

After first leaving out the measure among revenue sources funding the B administration's $3.5 trillion budget overhaul, House leaders are now planning to include an IRS reporting provision, multiple news outlets reported.

But in an attempt to get more lawmakers on board, the House version will reportedly include a higher threshold for account inflows and outflows than the $600 cutoff proposed by the administration and Senate leaders. On the table is a $10,000 reporting threshold, according to Bloomberg News and the Wall Street Journal..

  Here's another article. Plus more online..Bloomberg- Banks Enlist Customers to Kill Account Data Reporting Plan

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[gertrudecloset]

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@geezerette wrote:

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@gertrudecloset wrote:

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@geezerette wrote:

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@50Mickey wrote:

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@SharkE wrote:

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@50Mickey wrote:

@hckynut    Maximum  benefit is $3895. To receive this you need 35 years of high earnings.   

Social Security and Medicare are entitlements because those who have paid into the system for the required number of quarters are entitled to receive these benefits without means testing. In this case entitlement is NOT a derogatory term. 

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above @50Mickey . Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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@SharkE   I don't know anything about this Sharke.

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@50Mickey 

@SharkE 

Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

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@geezerette please cite a source for this supposed factual info.  Thanks.

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@gertrudecloset 

Just do a simple search.  There are many sites reporting it.   Various interpretations, some not necessarily correct.  And, as I said, it's just being discussed by treasury, etc. 

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@geezerette   I actually don't have to look it up as I know it's not true.  This is likely the same reason you won't bother to provide a source.

[Sooner]

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@hckynut wrote:

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@Duckncover wrote:

Guess they will have to go out to that money tree in DC and pick another basket of money...like they are doing right now for other things.

@Duckncover 

I remember my mom talking about "money growing on trees" back in the 1940's". Thanks to a term called "Quantitative Easing", now in 2021 paper money is being printed in our country at $2,000,000 000 every month. Printing $100 Bill's that are now worth what, $60?

No tree, just printing paper money, and acting like there is something to back it up, like gold! That shipped sailed about $23 Trillion ago.

hckynut 

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@hckynut AND YET THERE'S MORE!!!!!!!!    Apparently. . . 

[gertrudecloset]

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@geezerette wrote:

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@50Mickey wrote:

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@SharkE wrote:

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@50Mickey wrote:

@hckynut    Maximum  benefit is $3895. To receive this you need 35 years of high earnings.   

Social Security and Medicare are entitlements because those who have paid into the system for the required number of quarters are entitled to receive these benefits without means testing. In this case entitlement is NOT a derogatory term. 

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above @50Mickey . Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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@SharkE   I don't know anything about this Sharke.

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@50Mickey 

@SharkE 

Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

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@geezerette @SharkE 

No one will be taking social security benefits from those who are entitled to it.

[Zaimee]

@gertrudecloset  @bewise 

You  told @bewise  that the more you get, the bigger the percent.

Everyone gets the same 5.9 %. On $1000, that is $59. But, on $2000, that is $118. More money, but same percentage increase.

I received email yesterday from SS that they will mail out your new amount in December or you can check online in December if you cannot wait for snail mail.Or, do the math yourself is the quickest.

Also,  another change but not for retirees. Payroll tax taken out up to amount $142,8000 will be increased to 147,000. 
Current admin wants this changed to $400,000. This would add to SS reserves. 

[geezerette]

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@gertrudecloset wrote:

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@geezerette wrote:

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@50Mickey wrote:

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@SharkE wrote:

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@50Mickey wrote:

@hckynut    Maximum  benefit is $3895. To receive this you need 35 years of high earnings.   

Social Security and Medicare are entitlements because those who have paid into the system for the required number of quarters are entitled to receive these benefits without means testing. In this case entitlement is NOT a derogatory term. 

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I heard somebody say they were going to cut down the folks on the high end of SS as you mentioned above @50Mickey . Are you aware of this possibility?  I've heard about the 600 reporting to the IRS, but, I think this gal listens to conspiracy theory nonsense.

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@SharkE   I don't know anything about this Sharke.

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@50Mickey 

@SharkE 

Oh yes, that possible action is actively being discussed.  Nothing definite yet, but not just conspiracy theory.

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@geezerette @SharkE 

No one will be taking social security benefits from those who are entitled to it.

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@gertrudecloset 

That's not at all what I was talking about.