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<blockquote data-quote="James T" data-source="post: 994409" data-attributes="member: 17369"><p>Don't forget millions in SS donations made by thousands of illegal immigrants with bogus SS cards. Where's that money?</p><p></p><p>As it stands now: </p><p><em>Higher earnings limit. People between ages 62 and 66 who work and collect Social Security benefits at the same time might have part or all of their Social Security benefit temporarily withheld. Workers between ages 62 and 65 can earn up to $15,120 in 2013, after which $1 in benefits will be withheld for every $2 of income above the earnings limit. People who turn 66 this year can earn up to $40,080, and then $1 of benefits will be withheld for every $3 earned above the limit. However, once you turn age 66, the earnings limit no longer applies. And benefits may be recalculated at age 66 to reflect the withheld benefits and continued earnings.</em></p><p><em></em></p><p><em>Bigger payments. Social Security beneficiaries began receiving payments that were 1.7 percent larger in January. The average monthly Social Security benefit in January increased from $1,240 to $1,261 as a result of the cost-of-living adjustment.</em></p><p></p><p>BUT, the wonderful folks in Washington are still talking about SS reform. Like hiking up the retirement age and wage income subject to SS tax. And the cost of living method of SS disbursement increases might be ditched for increases based on the Consumer Price Index which equals smaller increases.</p><p></p><p>I think they should leave it alone and start tackling where all the welfare payments are going, take those savings and dump them back into SS to makeup the shortfall.</p></blockquote><p></p>
[QUOTE="James T, post: 994409, member: 17369"] Don't forget millions in SS donations made by thousands of illegal immigrants with bogus SS cards. Where's that money? As it stands now: [i]Higher earnings limit. People between ages 62 and 66 who work and collect Social Security benefits at the same time might have part or all of their Social Security benefit temporarily withheld. Workers between ages 62 and 65 can earn up to $15,120 in 2013, after which $1 in benefits will be withheld for every $2 of income above the earnings limit. People who turn 66 this year can earn up to $40,080, and then $1 of benefits will be withheld for every $3 earned above the limit. However, once you turn age 66, the earnings limit no longer applies. And benefits may be recalculated at age 66 to reflect the withheld benefits and continued earnings. Bigger payments. Social Security beneficiaries began receiving payments that were 1.7 percent larger in January. The average monthly Social Security benefit in January increased from $1,240 to $1,261 as a result of the cost-of-living adjustment.[/i] BUT, the wonderful folks in Washington are still talking about SS reform. Like hiking up the retirement age and wage income subject to SS tax. And the cost of living method of SS disbursement increases might be ditched for increases based on the Consumer Price Index which equals smaller increases. I think they should leave it alone and start tackling where all the welfare payments are going, take those savings and dump them back into SS to makeup the shortfall. [/QUOTE]
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