Social Security checks grow a bit as stocks shrink

Obama will give seniors earning under $50 a year a tax break
Obama is the candidate that will help poor to middle class seniors.

Mccain only helps wealthy seniors

The SS increase better than nothing but is still behind the higher rate of inflation that's about to hit soon. It's probably a stab at trying restore confidence in spending but $63 monthly isn't going to buy much more, it has to be at least doubled to make any real difference for seniors that are really struggling to survive.

Sens. Barack Obama and John McCain have sparred over Social Security during the presidential campaign, although neither has provided much insight into how they would fix the government's largest entitlement program, which is facing severe strains with the upcoming retirement of 78 million baby boomers.

If no changes are made, the Social Security trust fund is projected to deplete its reserves in 2041 and will begin paying out more than it collects in benefits even sooner, starting in 2017.

Kinda makes old Al Gore's "LOCK-BOX" look kinda good after GW, huh?

Sen McCain is rich by marriage, so he is looking out for the top 1%!!!!! Sen Obama is looking out for the rest of us, thank goodness.

·         While corporate greed ran rampant and the cost of food and fuel were skyrocketing, workers were being subjected to 3% increases in pay. I checked the CPI (including energy and food) for the 12 months ending August 2008 and it's nearly at 7%. Labor contracts are being negotiated for cola increases for the next 3 years at 3%. Gone are the days of merit increases. The affordability ratio is out of whack. Recession...inflation...depression. We need a change and until salaries are kept up with the cost of living, it will struggle to happen.

I recall half way through my working years when I was told by my employer at the time, a corporate giant, that I needed to start funding my own retirement. Also, I was told I needed to start paying part of the once 100% corporate funded healthcare premiums. So the paycheck I am earning is not only used to live for today but also a part of it needs to be put aside to fund my future. And, so came the 401k plan. If you didn't invest in stocks, you were left with a flat portfolio yielding very little interest. How can you retire on that? To add insult to injury, if you're not knowledgeable about investments, etc., well, you're left out in the cold, literally.

This $750 billion dollar bail out will be paid for by taxpayers. The baby boomers are the taxpayers. Now that they have started retiring, this burden will be left to the next generation. And how will they be able to afford that in addition to funding the boomers' social security benefits and Medicare?

The next President needs to make changes in the way Corporate America does business. I'm tired of throwing my hard earned money their way for my retirement while they live fat and high on the hog. Enough already!

·         While corporate greed ran rampant and the cost of food and fuel were skyrocketing, workers were being subjected to 3% increases in pay. I checked the CPI (including energy and food) for the 12 months ending August 2008 and it's nearly at 7%. Labor contracts are being negotiated for cola increases for the next 3 years at 3%. Gone are the days of merit increases. The affordability ratio is out of whack. Recession...inflation...depression. We need a change and until salaries are kept up with the cost of living, it will struggle to happen.

I recall half way through my working years when I was told by my employer at the time, a corporate giant, that I needed to start funding my own retirement. Also, I was told I needed to start paying part of the once 100% corporate funded healthcare premiums. So the paycheck I am earning is not only used to live for today but also a part of it needs to be put aside to fund my future. And, so came the 401k plan. If you didn't invest in stocks, you were left with a flat portfolio yielding very little interest. How can you retire on that? To add insult to injury, if you're not knowledgeable about investments, etc., well, you're left out in the cold, literally.

This $750 billion dollar bail out will be paid for by taxpayers. The baby boomers are the taxpayers. Now that they have started retiring, this burden will be left to the next generation. And how will they be able to afford that in addition to funding the boomers' social security benefits and Medicare?

The next President needs to make changes in the way Corporate America does business. I'm tired of throwing my hard earned money their way for my retirement while they live fat and high on the hog. Enough already!

·         While corporate greed ran rampant and the cost of food and fuel were skyrocketing, workers were being subjected to 3% increases in pay. I checked the CPI (including energy and food) for the 12 months ending August 2008 and it's nearly at 7%. Labor contracts are being negotiated for cola increases for the next 3 years at 3%. Gone are the days of merit increases. The affordability ratio is out of whack. Recession...inflation...depression. We need a change and until salaries are kept up with the cost of living, it will struggle to happen.

I recall half way through my working years when I was told by my employer at the time, a corporate giant, that I needed to start funding my own retirement. Also, I was told I needed to start paying part of the once 100% corporate funded healthcare premiums. So the paycheck I am earning is not only used to live for today but also a part of it needs to be put aside to fund my future. And, so came the 401k plan. If you didn't invest in stocks, you were left with a flat portfolio yielding very little interest. How can you retire on that? To add insult to injury, if you're not knowledgeable about investments, etc., well, you're left out in the cold, literally.

This $750 billion dollar bail out will be paid for by taxpayers. The baby boomers are the taxpayers. Now that they have started retiring, this burden will be left to the next generation. And how will they be able to afford that in addition to funding the boomers' social security benefits and Medicare?

The next President needs to make changes in the way Corporate America does business. I'm tired of throwing my hard earned money their way for my retirement while they live fat and high on the hog. Enough already!

I know someone who had 2 serious strokes since last year leaving her disabled and unable to ever return to work.  She is not yet at the retirement age, but she is close.  She gets social security disability now, but it is not as much as listed in this article.  Will she get an increase as well?

 This increase is sorely needed, coming from  someone who receives  S.S benifits and S.S. I.
I  receive about 650 dollars a month myself. 56 dollars of that is Social Security Sumplemental Insurance, ( what you get if you poor) along with yor regular monthly check. Even at 5.6% raise, it is still going to be hard to make ends meet.
And it doesnt matter currently whose idea this was or wasnt. If they really wanted to help  us out, do it now and make it a higher percentage rate, get us up there within a normal stanard of living.
People who get SS and SSI  make up alot of the poor in this country.  And most , like myself cant afford to do much and often times we have nothing left to last through out the month till we get our next check.
 Some would say, Ok go see if your eligible for any state assistance, well ,  I am one who has tried , I am eligible for a whopping 21 bucks a month in food stamp help.
 Most every other person who recieves SS is in the same boat as I am.

NEXT IS UNEMPLOYMENT AND THEN WELLFARE AND OBAMA WILL BE HE PRESIDENT WE ARE ALL EXPECTING. SAY GOODBYE TO THE MIDDLE CLASS AND HELLO TO THE NEW AMERFRICA.

What a racist remark..

That is ignorance... educate yourself.  Who cares if there are more black Americans voting than any other time in history?  What should we do.. go back to not allowing them to vote, hey while we're at it, take my right as a WOMAN away from me to vote.  Obama is not a terrorist and thief.  Where is your proof?  Cite your sources... I would be interested in knowing where you get your information. 

BTW, Speaking out about a race's hardships and trials is not racism. 

I'll be delighted to receive a 5.8% increase in my SS check.  Previous increases have been eaten up with an hike in Medicare premiums ~ so this time I may actually realize an net increase instead of a wash-out.  No, it will not be sufficient to offset actual realized inflation, but every dollar helps to defray price increases and those interminable "fees."

For the record.... Regarding the "capital gains" tax that Mr. McCain wants to cut in half...

Currently 70% of all capital gains tax is paid by people making over $1 Million a year...

You should be able to figure out the rest......

http://www.taxpolicycenter.org/

I would also like to add that I am white and know many white Americans supporting Obama.  I cannot stand the fact that many vote for someone based on their skin color or as in the primaries, their gender.  There are many of all races and genders that will not even look at all the issues, just go by the race or gender and as a matter of fact, after Hillary and John Edwards did not win the dem nomination they chose McCain just because he's white, so... I guess what you are saying can go both ways, but you cannot blame the candidates for that.

MCCAIN'S TIES WITH EXXON

MCCAIN WANTS TO GIVE $1.2 BILLION IN TAX BREAKS TO EXXON DESPITE HUGE PROFITS

Exxon Mobil Posted a Record $11.68 Billion in Earnings in the 2nd Quarter. "Exxon Mobil Corp. posted second-quarter earnings of $11.68 billion, once again topping its own record for the biggest three-month profit ever by a U.S. corporation… Exxon's second-quarter net income was 14% higher than the $10.26 billion it earned in the same quarter last year." [Los Angeles Times, 8/1/08]

McCain's Corporate Tax Cut Would Save Exxon Mobil $1.2 Billion. According to the Center For American Progress' Analysis, Exxon/Mobil would save as much as $1.2 Billion under McCain's corporate tax cut. "The centerpiece of Sen. McCain's plan to stimulate the economy -- actually, the whole plan)-- is large tax cuts for corporations. It would deliver $3.8 billion in tax cuts to the five largest American oil companies, according to an analysis released today by the Center for American Progress Action Fund." [Work Room, Thinkprogress.org, 3/27/2008]

EXXON'S PAC AND EMPLOYEES GAVE ALMOST $55,000 TO McCAIN

McCain Received Almost $55,000 in Contributions from Exxon Employees and Exxon's PAC. McCain received $54,336 in contributions from Exxon Mobil employees and its PAC. [Political Moneyline, Accessed: 8/5/08]

MCCAIN'S TOP CONGRESSIONAL STAFFER WAS AN EXXON LOBBYIST

McCain Staffer-Turned Lobbyist-Turned McCain Senate Chief of Staff Mark Buse Lobbied for Exxon. In early 2008, McCain hired as his Senate chief of staff Mark Buse, who had served as McCain's staff director on the Commerce Committee "in the late 1990s and early 2000s," and who was until fall 2007 "a lobbyist for ML Strategies." From 2006 until 2007, Buse lobbied the federal government on behalf of Exxon Mobil, earning his firm $560,000 in lobbying fees from the oil giant. Buse lobbied on issues pertaining to renewable fuels, the energy savings act, climate stewardship act, climate change, cap & trade, and S.3711, the Gulf of Mexico Energy Security Act. [ML Strategies/Exxon Lobbying Disclosures, Senate Office of Public Records; Washington Post, 2/22/08]

Donatelli Lobbied on Behalf of Exxon in 1999. Donatelli lobbied for Exxon in 1999 on "educational efforts pursuant to merger activities." At the time Exxon was in the middle of an $82 billion merger with Mobil Exxon paid his firm $780,000 in lobbying fees for the year. [Exxon Lobbying Disclosures, Senate Office of Public Records]

Who would you rather give a tax cut to Exxon-Mobile or yourself?

http://taxcut.barackobama.com/

I for one am happy, I had to retire early to care for my husband who is disabled.  I am 64 next yr 65.  My family who have health prob of their own (staph infect/cancer) are paying for my health insurance, God Bless Them Ten Fold.  The seniors have it bad now, utilities are going up up, food is so expensive, transportation, almost impossible.  Perscrip medication, co pays for doctors, then there is the DONUT WHOLES, where seniors have to pay full price for their medication that has no generic, (why are there no generic's?? so Pharc can make big bucks thats why).  God, the seniors need big help.  They are trying to hang on to their homes too...something they worked their whole life for.  They cannot be bailed out like the Crooks on Wall Street, or the BANKS....so if they get a raise, dont begrudge them...God knows they need it.  WHATEVER YOU DO DO NOT PRIVITIZE SOCIAL SECURITY, IT WOULD BE A DISASTER FOR SENIORS....AND IF YOU THINK THE COUNTRY HAS PROBLEMS NOW, WAIT....SENIORS DO NOT WANT PRIVITIZATION, SO SOME CROOKED CEO'S CAN DIP THEIR GREEDY LITTLE HANDS INTO THEIR MONEY THEY PUT IN THEIR WHOLE LIFES....NO WAY ....I SAY IF YOUR A SENIOR VOTE DEMOCRATIC, BECAUSE THE REPUBLICANS JUST DONT CARE.

Oh, for those of you keeping score...

Social Security Wage Base Rises to $106,800 in 2009
The Social Security Administration (SSA) announced on Thursday, October 16, 2008, that the 2009 social security wage base will be $106,800, an increase of $4,800 from the 2008 wage base of $102,000. As in prior years, there is no limit to the wages subject to the Medicare tax; therefore, all covered wages are still subject to the 1.45% tax.

The FICA tax rate, which is the combined social security tax rate of 6.2% and the Medicare tax rate of 1.45%, remains at 7.65% for 2009. The maximum social security tax employees and employers will each pay in 2009 is $6,621.60. This is an increase of $297.60 from the 2008 maximum of $6,324.00.

(My apologies, I can't link the source, it's an e-mail I received from the American Payroll Association.)

Translation, if you make less than $102,000, you'll pay more into Social Security, up to $297.60 for 2009.  They did NOT increase the rate at which taxes will be withheld, so anyone who makes under $102k will see no difference.

First I want to say AMEN to

-- Big Deal - SS is taxed on 75% of what one draws. Then if one has additional income the tax on the two with a tax increase will probably really mean the person winds up with less money. SS was never supposed to have been taxed when it was set up. Also LBJ took 11 billion out and paid on war debt. Richard Nixon added first taxable amount. Then Bill Clinton increased that 25%. In the meantime Ronald Reagan took 243 Billion (if my memory is correct) and put in the General Fund plus all future paid in SS so Republicans could blow it. Now we want all our money put back and taxes removed. Why bail out bankers that have caused their own problem. Put our money back first is the message to congress and all. Republicans expecting a vote from this forget it and Democrats that voted the 700B plus joke. Clean out Washington and vote paper ballot so it can be counted, Since the Elected and those under civil service have their own retirement and many do not pay SS until after retirement then they go into farming or some type business and pay maximum SS in for 3 or 5 years then draw the Maximum. This should be stopped for everyone. Clean out Washington and vote paper ballot so it can be counted accurately. Computers can be made to do anything. Just ask a whiz kid. We seniors need to organize and take the recovery of SS plus interest to court. Surely there are some senior lawyers that would help. United we Stand Divided we Fall  Bring our troops home.   Repeal HB-1066 and Senate sister bill.

Do not forget the most important thing is take back this country vote paper ballot.

It is commonly believed just like this article states, Social Security will begin paying out more money then it is bringing in sometime in the near future because of couple of different factors. If the younger American citizens wish to receive the same Social Security benefits retirees enjoy today when they retire or if they become disabled, then taxes must be raised to shore up the Social Security system. If taxes are not raised then we need to reduce the benefit received. It is common sense.

A solution is, we can change the law to prevent anyone that does not put money into Social Security from receiving benefits. However, this would also mean getting rid of survivor benefits and disability benefits for people that don't pay into the system. We can partially privatize the system and allow people to opt out of Social Security if they wish. But they better be sure they understand how to invest the money so they will be able to retire or have something to fall back on if they become permanently disabled.

I personally like the idea of having a saftey net but I don't like paying money into a system that gives money to people that don't contribute. I would rather opt out and take my chances.

First I want to say AMEN to stanton-carol .

I put the above in my first comment and evidently it did not get posted because I pasted it.

Remember vote paper.

I just thought of another thing on the SS agenda. Senate leader Bill Frisk who sold stock in HCA (a family business) just before it dropped along with Republicans Ripped Medicare to where it pays little. You are now forced to pay for another insurance policy if you can. How much now will Medicare cost go up? The Frisk HCA company was guilty of Medicare Fraud in just a few states that were checked because of a whistle blower. Wonder why all states were not checked? Also they settled through Supreme Court for a token Amount. Where does Conflict of Interest and Insider trading boundaries begin and end? If you get shots or blood test watch out for IC implants so small they can go through the needle.

Vote Paper Ballot.