The Possibility Of A Second Covid 19 WaveIncrease the Social Security cost-of-living adjustment to reflect the inflation experienced by retirees..TSCL will be letting Congressional leaders know of our opposition to a payroll tax cut and we will continue to advocate both in opposition to any payroll tax cut, and also for a fairer and more accurate way of calculating what the COLA should be each year..The switch to the chained CPI was seriously considered in the closed-door debt limit meetings by Congressional leaders and President Obama earlier this summer. It forms the basis of not just one, but several, of the most prominent debt reduction plans currently under debate. Chaining the CPI has won support from both Republican and Democratic lawmakers, and most deficit reduction proposals call for putting it into effect relatively soon. … Continued
Blog Behavioral Health Professions Now Featured On Scope Of Practice Policy WebsiteRetirement accounts allow your savings to grow tax-deferred, but the rules change when you turn age 70 ½. At 70 ½, traditional IRAs require the owner to take required minimum withdrawals and you can't contribute any more savings. But you can still continue to put money into other types of retirement accounts, including Roth IRAs and some types of 401s, as long as you have earnings from jobs..There is still only 1 check in my checkbook..Currently the program pays out more in benefits than it receives in cash revenues. The interest on money owed to the Social Security Trust Funds, however, is helping to fund the benefits of today's retirees. But because the government must borrow the amount of money needed to repay funds borrowed from Social Security in the past, that drives up federal spending. Some Members of Congress are saying that benefits must be reduced, or that higher revenues are needed, to reduce the deficit. … Continued
