Community Chat

[Cakers3]

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@KathyPet wrote:

Medicare will simply increase the cost of premiums to eat up the "raise" in SS benefits

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^ This.  Although my understanding was that the increase in Medicare premiums were not supposed to be more than what the SS COLA was giving out.  I could be wrong.

Medicare needs to be revamped, imo, anyway.

[viva923]

Medicare will eat at least $20.00 of the $30.00 forecast raise. If not 20 bucks medicare will take all 30.

[Tinkrbl44]

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@zitawins wrote:

That and a dollar will get you a cup of Starbucks.

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@zitawins

Only a dollar for a Starbucks ???      Which Starbucks are you going to?   Please share!     lol

[feline groovy]

Thanks, @Mz iMac - something positive on the Q boards for a change!

Hooray for the adults (ages 18-59) on Social Security Disability as well.

Every little bit helps, especially if SS or SSDI is your only income and asset.

[Tinkrbl44]

@Mz iMac

Ok .....    Maybe my coffee hasn't kicked in yet .... but I carefully scanned the article and still can't figure out who "projected" this number.     Is it someone speaking for the SS Administration .... or a financial writer that thinks they have a pulse on next year's increase?

[Lynnster67]

I wouldn't count on a net increase for 2018 ... Medicare will likely increase its premium to offset it (which they couldn't do when the COLA was 0% due to the hold harmless provision that protects ~2/3 of beneficiaries).

[Lynnster67]

SS is a pay-as-you-go system (Ponzi scheme).  If any other pension fund operated that way, its trustees would be prosecuted for breaching their fiduciary duty.

Whoever is responsible for applying the SS surplus against the government's deficit should be prosecuted.

I don't think ppl realize there is no trust fund with their name on it -- all you earn is quarters of credit and the highest 35 yrs of earnings are used to calculate your annuity.  When SS was generating a surplus, it was invested in a special series of Treasurys.  Now that cash flow is negative, these "bonds" are being liquidated.  These bonds are just pieces of paper in fireproof/waterproof filing cabinets in a ginormous bunker somewhere in WV.

[Lynnster67]

What's really a no-brainer is to eliminate the earnings cap, like it was for Medicare.  Why should I pay the same FICA taxas an athlete/entertainer who earns millions?

Also, uber-wealthy ppl shouldn't be able to claim SS.   For example, Warren Buffett has never applied for SS or Medicare since he doesn't need it (rounding error for someone like him).