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Dining On A Social Security Budget.Want to read more about rising costs? See, The Costs That Are Rising the Fastest for Older Americans, By Doug Whiteman, MoneyWise.com..'Let the Crime Spree Begin': How Fraud Flourishes In Medicare's Drug Plan, Tracy Weber and Charles Ornstein, ProPublica, December 19, 201Listen to this story on NPR..How can illegal immigrants get Social Security? They don't pay taxes!.While TSCL strongly agrees that the time has come for Congress to take action on Social Security and Medicare, we question whether rescue committees would work as desired. Over the past 25 years there have been numerous committees and commissions that developed contentious plans to change Social Security and Medicare. None have been successful in getting their plans adopted as major legislation..According to a recent nation-wide survey conducted by The Senior Citizens League, almost one-third of older taxpayers, 30 percent, say they itemize deductions for healthcare costs, and about 56 percent say that a portion of their Social Security benefits are taxable. "Taxpayers who may be postponing needed medical or dental services, getting glasses, or filling expensive prescriptions may want to consider doing so before the end of the year, in order to maximum the medical expense deduction in 2018," Johnson says..Chapter 1The Consumer Price Index, Handbook of Methods, The Bureau of Labor Statistics, updated April 18, 2019..This week, one new cosponsor Congressman Gregorio Kilili Camacho Sablan signed on to the Social Security 2100 Act, bringing the total up to 16If signed into law, it would extend the solvency of the Social Security trust funds responsibly, without cutting benefits for current or future retirees. The bill currently has more cosponsors than any other comprehensive Social Security reform bill to date, and we hope lawmakers in Congress will consider it seriously in the months ahead..According to studies performed for TSCL, many Notch Babies, particularly those who rely on Social Security for most, if not all of their income, are at risk for living near or below the federal poverty level. For example, Notch Babies who retired in 1984 at age 65 with average benefits of 0 per month would receive about ,839 this year. In the 48 contiguous states and Washington DC, that's only 8% above the federal poverty guidelines.

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An intense battle over Social Security is brewing and TSCL is gearing up for major Congressional action. Recently retired Federal Reserve Chairman Alan Greenspan waded back into the fray to tell Congress "Our choices right now are not between good and better; they're between bad and worse. The problem we now face is the most extraordinary financial crisis that I have ever seen or read about. Irrespective of what you say should be done on the tax side, you still have to cut some benefits on the expenditure side." The statement is chilling considering Greenspan oversaw the largest single overhaul of the program in history, chairing the National Commission on Social Security Reform in the early 1980's..Boosting Social Security benefits for everyone. The proposed boost would equal 2% of average benefits..By Representative Elijah E. Cummings, … Continued

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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..If Congress does nothing and the Social Security disability trust fund is allowed to become fully exhausted, there will still be payroll taxes coming into the program, but 11 million disability beneficiaries would see their benefits automatically cut by about 20%, according to the Congressional Research Service.[2] The reallocation of payroll taxes from the retirement trust fund is likely to gain increasing attention from Congress in coming months, although it's unclear when or if Congress will act..By Representative Mike Garcia … Continued