Fifty-six percent of all Social Security households pay taxes on their benefits. Many of them have very modest middle incomes and didn't adequately understand or plan for these taxes, which take about 6% on average of Social Security income..More than 1,057 respondents participated in The Senior Citizens League's annual senior survey, which was conducted from January through March of this year. Participants confirmed that monthly household expenses made steep increases over the past year, far in excess of the dollar amount that their COLAs increased benefits. More than half, 56%, indicated their monthly expenses went up by more than Yet 50% of survey respondents said that their COLA increased benefits less than per month, after the increased Part B premium for 2018 was deducted from their Social Security benefits..The coronavirus emergency spending bill that Congress just passed was not "paid for," in Washington's language. It was added to the deficit, which means the government will borrow the money to pay for it..The following Members of Congress, among many others, will be holding town hall meetings in the days ahead: Reps. Diana DeGette, Lynn Jenkins, Gary Palmer, Tom Rice, Todd Rokita, Steve Cohen, David Valadao, Steve Womack, Susan Brooks, Randy Hultgren, Lamar Smith, Eric Swalwell, Marc Veasey, and Rep. Ed Perlmutter..In addition, one new cosponsor Rep. Marcy Kaptur signed on to Rep. Peter DeFazio's No Loopholes in Social Security Taxes Act, bringing the total to twenty-eight. Rep. DeFazio's bill would subject all income over 0,000 to the Social Security payroll tax, reportedly adding another fifty years to the solvency of the Trust Fund. Currently, the payroll tax is capped at 3,700, and no income over that amount is taxed..Even if your income or assets are slightly higher than the guidelines, you should still apply. That's because certain kinds of resources may not be counted. States figure your income and assets differently, so you may be eligible in your state. When determining eligibility, your countable assets include checking or savings accounts, stocks and bonds. Your home, and one car, will not be counted..The new Congress has been sworn into office but little in the way of legislation regarding Social Security, Medicare or Medicaid has yet been introduced. As we all are no doubt aware, there have been other things on Congress' plate the last week or two, to say the least. But once President Biden is sworn into office this Wednesday Congress will return and the legislative season will be off and running..Reps. Brad Miller, Frederica Wilson, Laura Richardson, Jim McDermott Robert Andrews, Sam Graves, Jim Gerlach, Madeleine Bordallo, Patrick Meehan, Jon Runyan, and Leonard Lance signed on to Rep. Howard McKeon's H.R. 133The co-sponsor total is at 145..New Congress Convenes

Health Costs Issue Brief Dental Hearing And Vision Costs And Coverage Among Medicare Beneficiaries In Traditional Medicare And Medicare Advantage

This approach is unacceptable to me and reflects the wrong values and priorities. I'll never forget the elderly woman from Galesburg, Illinois who came up to me on the campaign trail last year to tell me how important Medicare is to her well-being. She pleaded with me to fight to protect Medicare because she couldn't afford even an extra in out-of-pocket costs for her healthcare, let alone the additional ,400 the Ryan Budget could put her back..At Monday's press conference, all six Trustees commented on the need for Congress to make some changes to both programs to ensure their financial stability. The Senior Citizens League agrees that both programs must be returned to solvency to ensure that future retirees receive the security they deserve. However, we firmly believe that any changes to either program should be phased in gradually and should not affect those seniors nearing or currently in retirement..The primary means of financing the benefits of the nation's 61 million Social Security recipients is a 6.2% payroll tax that is paid by employees and matched by employers - a total of 12.4%. Current law, however, imposes a limit on the amount of wages that are taxed for Social Security purposes, which is 7,200 in 201"Because Social Security benefits are based on wages, the Social Security cap on earnings also limits the initial retirement benefit that higher earners receive when they retire," Johnson explains. "In fact, all Social Security recipients are wrestling with growing income inadequacy as benefits replace a shrinking portion of wages, and this is especially true for those who earn more than the taxable maximum," Johnson says. … Continued

Health Reform Poll Finding Kaiser Health Tracking Poll June 2013

Two Social Security Reforms That Seniors Strongly Support.When it comes to strengthening Social Security's finances, Members of Congress only have two choices - to cut spending on benefits, or increase program revenues. Typically in the past, the focus has been on proposals that would cut benefits rather than raising revenues. Proponents of cuts argue that benefits must be cut because Social Security is insolvent as currently structured. They point to the fact that there are fewer workers to provide payroll tax revenues for swelling number of retirees..We share this information with you as a reminder that TSCL does not get any money from the drug makers or any other corporate or major donors. We rely only on you, our supporters, for the funds that allow us to keeping fighting on your behalf to protect the benefits you paid for all of your working life: benefits you earned, you deserve and that you depend on. … Continued

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