Subcommittee Discusses Social Security Windfall.In past years, Congress has chosen to allow this cost to shift to the 30 percent beneficiaries who are not held harmless. The total cost increase is spread over far fewer people, instead of all beneficiaries, and those who are not protected pay a much bigger share of Medicare Part B costs. This could happen again for the 2021 premium..New Congress Convenes.If Congress could not reach an agreement to borrow money, Social Security and Medicare benefits would be cut when payroll tax revenues run out as they inevitably would..At their convention in July, delegates of the Republican Party approved a platform focused on reducing the national debt. Their document begins by stating: "We reject the old maxim that Social Security is the 'Third Rail' of American politics, deadly for anyone who would change it. The Democratic Party still treats it that way, even though everyone knows that its current course will lead to a financial and social disaster." The focal point of their plan is cutting government waste, encouraging economic growth, and balancing the budget even if that means making significant changes to programs like Social Security..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..This week, lawmakers in the House remained in their home districts, while those in the Senate returned to Capitol Hill to begin working on a plan to avoid a government shutdown. In addition, The Senior Citizens League saw three key bills gain support..I have been investigating the skyrocketing prices of prescription drugs for some time. During my investigation, I have been contacted by a huge range of people - patients, doctors, hospitals, and other healthcare providers - all warning about massive price increases of certain medications. They gave me example, after example, of drug prices that have been jacked up repeatedly - with no apparent justification, and with no evident link to any increases in the costs of manufacturing these drugs..Most Americans contribute 6.2 percent of every paycheck to Social Security, but workers earning over 2,900 contribute nothing over that amoun,t due to a payroll tax cap. Around 75% of Social Security beneficiaries believe the Social Security taxable maximum should be eliminated to extend the solvency of the Trust Funds responsibly, without cutting benefits. Do you agree?

Blog House Passes Concealed Carry Reciprocity Act

The Obama Administration and proponents of Obamacare have continued to downplay the cancellations of the health insurance of 4.7 million individual policy-holders who received notices that our polices would be ending in 2014 because they didn't comply with the new healthcare law. I was able to temporarily renew my so-called "junk policy." I wanted to keep it because my deductible is 50% lower than the lowest deductible found on any comparable policy in my area on the exchange, and my current plan has a much less restrictive provider network. Most importantly my premium is about 60% lower than I would pay on the exchange, that's after the subsidy..The groups that have begun lobbying the administration include large hospital systems and health insurers, major trade associations, air ambulance companies and private equity-backed physician staffing firms..That said until you crunch the numbers it's hard to say whether itemizing your medical expenses or taking the standard deduction would be the better option. … Continued

Blog Whats New From Children And Families

Six Tax Moves To Make Before Year End.Social Security Made Simple: Social Security Retirement Benefits and Related Planning Topics Explained in 100 Pages or Less, Mike Piper, February 2017..Medicare "Premium Support" Gains Momentum … Continued

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