A gentleman said some unflattering things about me on Twitter because of my position on Social Security. I responded stating that I provided facts and data and challenged him to do the same.
His entire response was this URL: https://t.co/Y16JzxSkQz
There is far too much to address on Twitter, hence this post and several future posts.
Briefly, much of what is presented by The Center On Budget and Policy Priorities supports my positions. Following is ONE quote from the URL, titled (no joke) “Social Security Benefits Are Modest”. (EMPHASIS in quote below are added)
“For someone who worked all of his or her adult life at average earnings and retires at age 65 in 2018, Social Security benefits replace about 39 percent of past earnings. This “replacement rate” will slip to about 36 percent for a medium earner retiring at 65 in the future, chiefly because the full retirement age, which has already risen to 66, will climb to 67 over the 2017-2022 period.
Moreover, most retirees enroll in Medicare’s Supplementary Medical Insurance (also known as Medicare Part B) and have Part B premiums deducted from their Social Security checks. As health care costs continue to outpace general inflation, those premiums will take a bigger bite out of their checks.”
So….they admit
1. That benefits DEcrease as retirement age increases.
2. That the retiree receives barely a third of what they earned while working.
3. The benefits will DEcrease as the Unfunded Mandate of Medicare continues to skyrocket.
The existing system is a slow motion train wreck. It represents a massive unfunded mandate. The “Promise” must be broken, because #ItsJustMath My modest proposal gives the retired worker OWNERSHIP of a benefit that pays more, for a longer period of time.
#ItsJustMath
#SocialSecurityHurtsThePoor
#TheyCantGiveItToYouUnlessTheyFirstTakeItFromYou
#TheFoundersWeep