job..He said, "We have to work to do more to ensure that every older American has the resources and the support that they need to thrive. That challenge protecting our seniors, dealing with the rising costs of an aging generation, ensuring we have enough home care workers looking out for our family members, maximizing the contributions that older Americans can make to our country these challenges are just becoming more urgent.".To learn more about your benefits and retirement, sign-up for TSCL's free online newsletter, The Social Security & Medicare Advisor..Social and recreational activities.TSCL's annual Senior Surveys indicate that roughly 56% of retiree households pay tax on a portion of their Social Security benefits. About the same number support reducing the taxation of Social Security benefits by lifting the threshold for taxation of Social Security benefits from ,000 to ,000 for single filers and from ,000 to 0,000 for joint filers..TSCL has been monitoring the case closely in recent months because if implemented, the executive orders would have provided millions of undocumented immigrants with controversial access to Social Security and Medicare benefits. In a press release, Ed Cates TSCL's Chairman said: "Concern is high that undocumented immigrants who were illegally present and who worked under fake, invalid, or fraudulent Social Security numbers may benefit based on such work, potentially at the expense of others who paid into the system the legal way.".According to TSCL's Senior Surveys, more than half of retiree households pay taxes on Social Security benefits. The new tax law did not change the income thresholds that subject Social Security benefits to taxation. Taxpayers with incomes in excess of ,000 or ,000 pay taxes on as much as 50% of Social Security benefits. For taxpayers with income exceeding ,000 and ,000, up to 85% of Social Security benefits may be taxed. Rather than paying quarterly estimates, taxpayers may use Form W-4V to withhold a flat rate from Social Security checks: 7%, 10%, 12%, or 22%..TSCL's opposition to any Payroll tax cut stems in part from previous comments from some Congressional leaders, including Senate Majority Leader Mitch McConnell In the past he has said:.Mulvaney explained that the goal of the proposed cut to SSDI is to "test new approaches to increase labor force participation," which suggests that large numbers of ineligible people are abusing the system and need to go back to work. While Social Security disability has well-publicized problems with fraud and abuse, it's important to note that eligibility standards for Social Security disability mean that a person must have a condition so severe that he or she is not able to work. Thus, someone who truly meets the eligibility standards for disability, is not likely to ever re-enter the workforce.

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You can contribute to more than one IRA. It's possible to have a traditional IRA, one or more 401s and a Roth IRA or Roth 40You can contribute to as many as you want but the total you may contribute is limited to a maximum amount that is adjusted annually and the type of account..Social Security coverage to persons who have not worked long enough under the system to draw benefits on their own account is of major significance in the debate to allow individuals to invest a portion of their Social Security taxes into private retirement accounts. As proposed, private Social Security retirement accounts would unlikely be able to provide the extent of coverage the current program now offers..In addition, TSCL announced its support for legislation from Rep. Grace Meng that would address the Social Security Notch once and for all. It would allow Notch victims born between the years 1917 and 1926 to choose between a ,000 lump sum payment or an improved monthly benefit calculation. TSCL firmly believes that Congress must provide some compensation to victims of the Notch injustice, and we are hopeful that Congresswoman Meng's bill will be approved by the end of this year. … Continued

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TSCL on the Hill.Re.President Trump recently said that the United States has to create new bidding procedures for the drug industry. TSCL believes that new bidding procedures alone would not give Medicare the power to bring down prices on drugs when a company holds a monopoly on the only drug available to treat specific conditions. TSCL supports giving Medicare greater power to negotiate the price of drugs like it does for all other services covered under Medicare, and making it easier to import less expensive FDA approved drugs. … Continued

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