Social Security & Bush Tax Cuts

Social security is primarily a social insurance program providing social protection or protection against socially recognized conditions, including poverty, old age, disability, unemployment and others. The Bush tax cuts refers to changes to the United States tax code passed during the presidency of George W. 5.0/5

Social Security Bush Tax Cuts Senator Casey Wall Street Fox News Santa Barbara Grover Norquist Walnut Creek United States Mitch Mcconnell Health Care Mitt Romeny City Hall Affirmative Action Los Angeles Mayor Come December Antonio Villaraigosa President Obama

Did George W. Bush 'borrow' from Social Security to fund war in Iraq + tax cuts? via
SURPRISE! I got my paycheck today and compared it to the last one of 2012---not one penny difference in Medicare, federal or state taxes. In other words, no tax increase and my rate stayed at the reduced level of the Bush tax cuts from 2001. So--all the Obama tax screamers--I am sure YOUR checks are exactly the same unless your rate of pay changed in some way--in other words, your screams of tax increases are simply not true. (We will not call them lies, but they do fit that category as well.) The only change was the temporary Social Security deduction that has reverted back to the 6.2% we all have paid for decades before OBAMA made a "holiday" that brought it down to 4.2% for 2 years. Had everyone been aware of the DECREASE Obama made possible 2 years ago, they would realize it was NEVER intended to be permanent and had it been, your retirement check would have taken a huge hit in every check you drew during your elderly years. (Read up on "compounding interest" and "input vrs. output") LOL That ...
A VERY NAUGHTY UNANIMOUS CONSENT REQUEST Dear Santa ... and my fellow Senators: All I want for Christmas is a Unanimous Consent Agreement. So I ask unanimous consent to suspend the Senate rules, consider these resolutions as read a third time, pass them without amendment, and send them to the Lower Chamber for immediate consideration: H.R. 8, extending the Bush Tax Cuts permanently and re-repairing the AMT patch; S. 3521, dealing with certain tax extenders and corporate tax expenditures; and S. 1134, repealing extended unemployment insurance; denying food stamps to blue state residents; delaying indefinitely sequestration for the Department of Defense; increasing the age of eligibility for Medicare; block granting Medicaid; and applying a chained CPI to Social Security. BAH HUMBUG! Mitch "Mac Scrooge" McConnell THE GOP Senate Minority Leader (in Perpetuity)
Social Security is funded, Medicare is funded thru payroll taxes; our "debt problem" is 2 unfunded wars & lost revenues from Bush Tax Cuts.
Nearly 14,000 Californians have signed a petition demanding Los Angeles Mayor, Antonio Villaraigosa, resign from the Campaign To Fix The Debt, a right-wing lobbying group whose "core principles" include making permanent the Bush tax cuts for the top 2% while slashing Medicare and Social Security. Today at noon they're going down to LA City Hall to deliver their signatures. Join them! Let Mayor Villaraigosa know we won't stand idly by while he sides with Wall Street to throw Californians off the Fiscal Cliff!
60 Central New York residents marched in rain to call on Representative Hanna to end tax cuts for the Top 2%. As part of more than 10 events across New York State on International Human Rights Day, about 60 local activists gathered outside of Rep. Richard Hanna’s( R-NY 24th) Utica office on Monday to call on him to fight in Congress for an end to the Bush Tax Cuts for the top 2%, to ensure that no cuts to Social Security, Medicare, or Medicaid are part of any "fiscal cliff" deal, and to make investments in good, well-paying jobs for working families. As part of the event, local residents held a Candlelight Vigil and marched in front of the Representative Richard Hanna’s office in the rain to demand strong opposition to any cuts to Medicaid, Medicare, or Social Security benefits. Groups representing the Central New York Citizens in Action, Inc., Citizen Action of New York, MoveOn, Organizing for America as well as local labor unions, civil rights, neighborhood, nonprofit, and faith-based organizatio .. ...
The has rejected the fiscal cliff deal as it would impact Medicare & Social Security while leaving Bush Tax Cuts in place. via ABC
DON'T BE FOOLED by Romney's Promises of Across-The-Board Tax Cuts. Setting aside the Fact that he is a Flagrant, Habitual and Unrepentant Liar, what this would mean is that a Middle-class Family might get a Pittance of $1000 - $2000 while Millionaires get Hundreds of Thousands, on top of the already disgusting windfall they receive by making the Bush Tax Cuts permanent. In return for this Devil's Bargain, Corporate Taxes (and Capital Gains which is how teh Hedge Fund Managers and other Wall Street *** Rake In their Mountains of Cash) are CUT TO ZERO! Corporations continue to be Encouraged and Rewarded for Relocatinge their Businesses Overseas where they Don't Have To Pay Living Wages, Give Benefits or Follow ANY Environmental or Safety Regulations. The Gutting of the Economy and Middle Class which began under Reagan and was Greatly Accelerated by Bush, will be brought to its Disastrous Conclusion. Government Services will be Cut To The Bone. Obamacare, Medicare, Medicaid, Social Security, Unemploym ...
NOVEMBER 8TH DAY OF ACTION STOP CUTS TO SOCIAL SECURITY, MEDICARE AND MEDICAID DURING LAME DUCK SESSION Congress returns to Washington, DC for the Lame Duck Session on November 13th, where there will likely be a budget show down. Several California Congressman are “on the record” supporters of CARA’s positions regarding budget negotiations: 1) No Cuts to Medicare, Medicaid, or Social Security; and 2) No extension of the Bush Tax Cuts for the wealthiest 2%. The AFL-CIO, along with CARA and the ARA, have called for a National Day of Action on November 8th to garner the attention of press and hopefully influence the narrative to stop a “Bad Deal” from being agreed to in the Lame Duck Session. Several rallies are being planned in Walnut Creek in front of Congressman Garamendi’s office, in Stockton at Congressman McNerney’s office, and in Santa Barbara at Congresswoman Capp’s office to thank them for their support of our position. We will also go to Modesto to Congressman Denham’s office ...
Does anyone want to really know who the 27% not paying taxes are that Romney bashed at his Fund Raiser with the wealthy people paying for his campaigning. I have never heard of a president or someone running for president say something like this. It takes a very wealthy selfish person to be that out of touch. What Romney called these people are useless and none of his concern. Here is a breakdown of the 27 % The Elderly of course do not pay taxes. They aren't suppose to. They get Social Security, that is unless Romney /Ryan get elected, Dooms day. I just hate people like them telling huge lies to our country. Other people are Students. They don't have taxes to pay. Everyone still pays state and local taxes when they buy things. The Military doesn't pay taxes on their pay in combat. Of course. The main part is the very Wealthy because of the Bush Tax Cuts. They get so many tax breaks that they don't pay anything but get large sums of money back, average of $300,000 per year in tax returns. Don' ...
"The same 'lesser of two evils' garbage has been repeated in every election since I have been an observer and participant (over 40 years). Why do you think the Republicans had such insane choices to begin with? It is to make Mr Obama seem fairly normal and an acceptable choice when in fact he is as much a tool of the ruling elite as anyone in government. Do you actually think a Republican would have been able to pass things like NDAA, HR347, NAFTA style agreements with Panama, Columbia and S Korea, extension of the Bush tax cuts, stepping up the war in Afghanistan, placing Medicare, Medicasid and Social Security on the table for cutting just when more people will need them, and more without major backlash from progressives? Vote for Mr Obama if you think you must but he is nothing but a Trojan Horse and you are being played for a fool by those who run things in this country." ~ Carl Jochen
George W. Bush enacted his "Bush Tax Cuts" in 2001 & 2003. According to the non-partisan Congressional Research Service, the estimated loss in revenue over the last 10 years is just under $3 trillion. If you include the interest that needs to be paid, you can add another $606 billion, for a total of $3.6 trillion. It will be interesting to see if the Republicans, who are SO concerned about the deficit they want to "reform" your Medicare & Social Security, will force President Obama's hand in extending these cuts once again & give billionaires the tax cuts they need to "create jobs" (as they have done such a great job of doing over the last 4 years).
What am I thinking this weekend? Well I got new taxes added to my paycheck today. Obamacare. Come December 31 I get to pay more taxes added. Bush tax cuts expire. Income tax increase. Woohoo. Social Security tax holiday increase. Man I am looking for December 31 to get hosed January 1st.
Yep. Checked my email messages first thing this morning and found the subject "Obama: The Most Arrogant Man in the World" in one of the new emails. I found this to be an interesting subject for this morning as I awoke thinking about how Obama, and his administration, keep calling the reduction of the Social Security rate from 7.65% to 7.15% the "Bush tax cuts". The real Bush tax cuts were an accelerated deprecation plan to entice businesses to make deductible purchases for business expansion, and a raise on the 15% tax bracket ceiling from $28,000 to $36,000. This raise gave anyone who made $36,000 about a $1000 tax break. (Wisconsin average household income at the time was about $36,000.) The real Bush tax cuts did entice commerce and give a tax break to the households with average income. These were tax breaks that worked very well. Obama's "Bush tax cut" only goes to deplete funds to maintain Social Security and Medicare. Its seems to me that he is calling it "the Bush tax cut" to try to blame th ...
Never paid for Bush Tax Cuts either, but they'll use all 3 unpaid debts as an excuse to end Social Security & Medicare.
End the Bush tax cuts for the wealthy. End the cap on Social Security. Lower the retirement age to 55. Force all corporations to pay into Medicare, and to use the ''Mondragon Corporate System.'' End the 'NON' Profit corporate scam, end the privatization scam. VOTE DOWN THE FASCIST CONS. END OF PROBLEM.
I know my brother already posted a status about this but I'm going to reiterate what he said so it can sit in the empty minds most of you people seem to have. Take a look into the future and the President of the United States is Mitt Romeny, Affirmative Action is gone, most of the programs that benefit the lower class such as Food Stamps are done away with. Health Care is no longer affordable and you receive no Social Security, you know, the same social security that you were born with. The Bush Tax cuts applied to the rich will remain in affect and unemployment will continue to rise. Oh and lets not forget about the kids and public education, because we all know how Mitt Romeny feels about education and how he wants to use funding for that purpose and place it elsewhere. And the homosexuals can't get married...aside from the 9 states that they can. So exactly what definition of marriage did you preserve? And what does the current President's opinion on same-sex couples have anything to do with the ...
I watched last night's speech by Romney... He still hasn’t provided details how his promises -- like reducing tax rates for the wealthy, keeping the Bush tax cuts, and increasing defense spending -- will actually reduce the deficit and debt. He’s been clear about his plans for entitlements (like Medicare and Social Security), but the details are lacking elsewhere. Romney wants to avoid filling in the blanks because to make his numbers work, it’s going to take massive cuts into domestic programs. Have you noticed that as the jobs picture improves the economic pitch of the GOP has moved from “where are the jobs?” to “the debt.” Of course it's all the current administrations fault...
Social Security’s trustees recently reported that — over the next 75 years — Social Security will have a shortfall of 2.67 percent of taxable payroll, or 1 percent of Gross Domestic Product (GDP). That is, raising taxes by an average of 1 percent of GDP could put Social Security on a sound f...
The Social Security Shortfall and the Cost of the Bush Tax Cuts
Via Norm Hiding: Norman Hiding Yesterday. February 10, 2005: Yesterday President Bush said, "Some in our country think that Social Security is a trust fund -- in other words, there's a pile of money being accumulated. That's just simply not true. The money -- payroll taxes going into the Social Security are spent." In other words your Social Security taxes have been continually paying for the vacuum caused by the Bush Tax Cuts for the Rich and two un-funded Bush wars. Now the cupboard’s bare and there was never any intention of paying it back. Grover Norquist is happy because the country IS now at the stage where he and his Republican cohorts who swore allegiance to him can “drown it in a bathtub”. Rich corporations now have an unlimited supply of workers who will work for pennies to keep from starving because of their lack of a Social Security safety net (until they die for lack of affordable healthcare). Life is great for rich Republicans because the mission long dreamed of and planned in secret h ...
"...the cost of the Bush tax cuts is roughly equivalent to the Social Security shortfall over the next 75 years"
Do you know that a millionaire pays 1/10 the social security of someone making $100,000? That if you earn money from investments that you can 1/2 the tax of someone who works for a living? Did you know the rich can write off mortgage and taxes from second (and third and fourth) homes and can write off depreciation from jets and yachts? Pass on my ten point plan which will balance the budget without impoverishing anyone: Ten easy ways to balance the budget: 1) Make all earned income, not just the first $106,800, subject to the 6.2% Social Security tax on employees and match that by 6.2% of all earned income from employers. 2) Get rid of Bush tax cuts. 3) Get rid of mortgage tax deduction on everything but the primary residence. 4) Means test the mortgage interest tax deduction, the property tax deduction and Social Security income. 6) Change tax laws to eliminate loop-holes such as hedge fund manager allowing income to be taxed as investment income. 5) Means test co-pays for Medicare for high income ind ...
Social Security, Medicare report card on tap By Jeanne Sahadi April 20, 2012: 5:08 AM ET New York (CNNMoney) -- Critical to reining in the United States' long-term debt will be finding ways to control the burgeoning costs of Medicare and Social Security, both of which will face serious funding shortfalls over the next two decades. On Monday, the trustees of those programs will offer their annual update on just when those shortfalls will occur. Experts said they expect the trustees' conclusions to be similar to their findings last year. Then again, "It's like trying to predict elections. You never know," said Don Fuerst, senior pension fellow at the American Academy of Actuaries. Last year, the trustees projected Social Security could pay promised benefits in full through 2036, after which the program could only afford to pay 77% of them. Social Security has already begun paying out more in benefits than it takes in from workers' payroll taxes. But the difference has been made up for with interest paid by ...
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