Contrary to what many prominent politicians in our nation’s capitol say, our Social Security System is a pay-as-you-go program. Just today, these same politicians have decided to lower the rate of deductions from your payroll. Previously, 7.65% of your paycheck went to the Social Security Trust Fund. But in the past decade or so, the trust fund has been ravaged by these politicians so they can make themselves look good in the eyes of the public when seeking re-election by borrowing these funds rather than raising taxes to pay for governemnt programs that are not funded or are under- funded. Passing laws without providing sufficient funds is a favorite pastime of these Congressmen. This is definately not a good idea for many reasons.

Typically, a worker pays 7.65% from his paycheck and his employer matches that amount. The self-employed pay the full 15.3%.And of this, 1.45% goes to Medicare. The latest law has reduced the amount deducted from 6.2% to 4.2% for Social Security. The employee need do nothing because the employer or payroll company will make the adjustments. Sounds good, doesn’t it? It will add more money to your paycheck or increase disposable income to help the country’s economy out of its slow growth.

I have a problem with that. Not that I envy the workers who will gain more dollars in their pockets. Rather that it will decrease the amount of money going into the Social Security Trust Fund at a time when more demand is being placed on funds to pay for present outlays. The talk of funds running out on such and such a day and payment amounts being reduced makes me angry at these politicans. Some, like Tom Larkin from Iowa, are not fooled. They see the reality of this “tax cut”. Our federal programs are being misused and is the primary fault of the ridiculous notion favored by numerous politicans that we can continue to borrow to pay for unrelated social security outlays while allowing these funds to diminish. Eventually, they will call for a “privitization” of the system and lower payments to future participants.

I paid into the fund for fifty years and am now retired. It is not easy to be a senior in this day and age when everything is increasing in price due to a decrease in the value of the dollar and everything it buys, including gasoline. I am fortunate enough to have banked some savings but they don’t earn much when all interest rates are held low to ease the government’s debt obligations.

I hope any citizen, especially seniors, takes a long, hard look at their local elected government officials, especially those in Washington, D.C. There will be no improvement in our economy when funds are not available to maintain our citizens and their best interests at heart as a government priority.

Benefits must be adjusted, the age of eligibility must be raised, the withdrawal rate should be increased by 1%, and the wage earnings cap should be increased up to $150,000. All recipients of Social Security should be required to pay federal income taxes or no one should pay. Time is running out. Call your congressman now or contact him via email or a letter.

According to a press release from Allsup, a nationwide provider of Social Security disability, Medicare and Medicare Secondary Payer compliance services for individuals, employers and insurance carriers, in 2011 over 1 million people with severe disabilities became new beneficiaries under the Social Security Disability Insurance (SSDI) program. However, many of those individuals question how to properly report the payments on income tax returns. Up to 50 percent of SSDI benefits are taxable each year.

Some beneficiaries wait a number of months for their benefits to be approved and even longer to receive the benefits, Paul Gada, a tax attorney and personal financial planning director for the Allsup Disability Life Planning Center, said. Thus, when they are paid, it often is in the form of a lump sum.

One of the most common SSDI-related tax questions is how to report lump sum payments.

Making mistakes can be costly; for example, reporting a lump sum payment as income from the previous year can result in a beneficiary paying too much in taxes, Gada said. In fact, many receiving SSDI benefits will not owe taxes.

 ”The IRS allows taxes on SSDI lump-sum payments to be spread over previous tax years using the current-year tax return,” he said. “This means recipients do not have to go through the time or expense of filing amended returns, or pay higher taxes on their current year’s income.”

Lump sum payments are shown in Box 3 of the Form SSA-1099 beneficiaries receive from the Social Security Administration, while worksheets in IRS Publication 915 can be used to calculate the taxable part of an SSDI payment.

However, Gada said the calculations can be difficult. If trouble arises, investing in an educated tax professional or software can ease the process and keep individuals from paying unnecessary amounts because of a single mistake.

Reference: http://www.marketwatch.com/story/mistakes-with-reporting-social-security-disability-income-can-be-costly-at-tax-time-allsup-finds-2012-02-17

The nature of disability is such that the length of time for which it will continue cannot be effectively determined. Disability insurance through private insurers can be expensive. Moreover, the additional cost of medical aid to alleviate or control your disability will drain your finances. The government, through the use of social security funds, thus provides the less fortunate citizens with state sponsored disability benefits.

What is SSDI?

Under the Federal Insurance Contributions Act tax, a portion of an employed citizen’s pay is deducted from his income as payroll tax. This is used to fund the federal insurance program known as Social Security Disability Insurance or SSDI. It provides financial benefits to citizens who are disabled. The Americans with Disabilities Act defines the parameters by which a person can be classified as ‘disabled’.

Eligibility for SSDI is not based on the nature of the disability, that is, short term disability or long term disability. The span of time for which you are going to receive the benefits is dictated by the duration of the disability. SSDI benefits are usually restricted to people suffering from predominantly physical disabilities. 

What are the eligibility criteria for SSDI?

In case you need to apply for SSDI benefits, you will first need to find out if you meet all of the qualification parameters set by the Social Security Administration. There are certain things that you need to prove before the Social Security Administration, which are:

• You are a legal citizen and a resident of one of the 50 states, the District of Colombia, Mariana Islands. You may also be eligible for the benefits if you are the son/daughter of military service personnel. Your parents should be permanently stationed abroad and on active duty.

• You are a student temporarily stationed abroad. You may have restricted access to SSDI benefits. Certain limitations are applicable in this case.

• Your resources and income fall within certain limits. If your monthly income exceeds $860, you will not be eligible for SSDI.

• You are either 65 years of age or older, blind, or disabled. The guidelines for assessing disability are laid down in the Americans with Disabilities Act. You may also be declared disabled by a certified physician along with appropriate documentary evidence.

• You have had a job for a considerable period of time. Your employer has contributed to the Social Security fund on your behalf through payroll tax.

• You have a disability which is going to physically affect you for a period of at least 12 months or result in death.

• Your disability is preventing you from being gainfully employed in the particular type of work in which you have been engaged for the last 15 years. The SS administration also tries to determine if you are eligible for any other kinds of work. This assessment is based on age, working experience, education and cross-disciplinary skills. The nature and extent of the disability itself will dictate if you can work at all or not.

The government has designed public benefit programs to take care of citizens with varying needs. Disabled citizens can meet their basic needs through supplementary income in the form of SSDI benefits. 

If so, you are entitled to receive Social Security Disability Benefits.

When you worked, your Social Security Taxes were Deducted from your pay check and got put in a Social Security trust fund. When you get Social Security Disability Benefits, you live off of the wages that got taken out of your paycheck. Not all of your salary when you worked but $200.00 to2,000 per month.

When many people applies for Disability Benefits, for the first time, they get rejected.

That is when they should take legal action and get a Social Security Attorney and also work with a Lawyer on setting up a hearing to get their well deserved money from the bureaucracy.

What happens during a hearing?

 A Judge is present. The Lawyer has a copy of him or her’s Social Security file. The Lawyer states to the judge that the beneficiary, is so sick, that him or her cannot do any kind of work. The Judge will seep through the client’s file to find any evidence that the client is too disabled to work.

Then the Judge decides if the client is disabled and if so, he sends an award letter to the claimant and the lawyer. If the Judge’s decision is not eligible, he will write an unfavorable decision and send a copy to the Lawyer and the claimant.

If the claimant gets denied, him or her can schedule another hearing.

So if you can’t do any kind of work, apply for disability benefits today!

Number (2) we have Cops which have being jailed for they dirty deeds and are put Disability pension of $3400.00 (round of) per month, and it needless to say since he is on disability he is also getting medical benefits, place is Police Department Hasbrouck Heights NJ.

Number (3) Social Security; some official’s claim it will run out of money in near future. However these crooks are not saying anything that social security is being used for everything, practically even for their extra curricular activity. There is equal number of children receiving Social Security that should be on welfare paid by us all, but that don’t sit right with Rich.

Number (4) Top echelons in many institutions getting outrageous salaries; Wall Street Crooks, Schools from High to Universities; Principals, Superintends, Sept.11 Officials, and list can goes on and on. This people over paid not by hundreds but in thousands, Port Authority don’t even go there.

Number (5) Law enforcement another fiasco; where Officers are retiring on pension that exceeds their base, pay plus benefits for them and their family.

Number (6) Our Country Lobbyist; (A home land terrorist group) collecting pay from special interest groups and at same time getting pays and benefits from States at tax payer expanse.

Number (7) Equality Marriage; that some people like to call it

And would like to compare it with Civil Right movement of 1950-60. How there you! If you want have sex with same sexes ponder it that is you civil right, but that again if we all want our civil right we can include being prostitute, have as many spouses as want wish, choose to leave or die. Marriage is between Man and Woman, unless you want to become

Animal “A DOG” male or female!

A home selling for 240 thousand could line Uncle Sam’s pockets with tax dividends of around $14, 000. The tax is expected to reap close to 300 billion.  Hello.  There aren’t many homes aren’t selling these days.

If Obama is anything, he is an eloquent speaker. So how does this clunky, derisive sounding word “unearned” appear in the Obamacare legislation?  It feels like machismo manipulation. Whatever the motive, “unearned” carries a demoralizing connotation.

Already depressed, the housing industry has the potential to boost employment, and the economy.  Why cripple housing potential with disincentives like the “unearned” income legislation?

Image by 401K via Flickr

More than this, the rental industry becomes valueless to landlords.  If landlords try to absorb the “unearned” income tax through the rental charges, who will be able to afford rent?  Is the work that goes into maintaining rental property really as undeserving of reward as the title of “unearned” conotates? 

As part of the Obamacare package, a huge life endeavor for seniors to stay self supporting in their old age is wasted.  Instead of reaping from the industrious and honest retirement planning, seniors may be turning to welfare, instead.  The income they planned on receiving is regarded as “unearned,” so that gives license to it away from them?

Why is the “unearned” income legislation worthless if not deleterious? 

                1.) Unearned income taxes create disincentives for people who spent a lifetime of being self supporting, creating a retirement nest egg to continue their independence into old age. 

        2.) Taking away from the income planned for retirement may even result in a swell of people requiring welfare. 

                  3.) Another difficulty comes in a sort of trickle down effect. The cost of taxes inflates the cost of rentals, and presumably the resale values of homes. This creates difficulty for kids to leave home and start a family life of their own.

                  4.)  The already depressed housing industry could be a source of employment and job creation, which would be much more valuable to the economy than the current plan for extra taxation on it.

Viewing reader comments on this topic, one of particular note was sarcastic, but true. It went something like this:  Throw granny onto an iceberg and send her away . . .  Remove the Obama from Obamacare, and return to the word care.  

Image via Wikipedia

Between these years you may realize totally different age range and rates of loss ought to you go looking out for retirement early? It’s really an essential thought as a result of the cut to require retirement early is substantial and boosts the later you had been born. If in no matter method attainable it’s advisable to carry back until you are full retirement to help you receive full-benefits. Whoever you hire on using for social security remember to try to get your Medicare insurance inside three several weeks of turning sixty five or maybe your prescription and Medicare insurance half B might cost you more income.
 
A really generally requested question regarding social security is when lengthy you need to strive to be qualified. The program creates one thing of credits, and additionally you would like 40 credits to qualify. Every year you’re utilized, you are granted four credit points, if you have labored a minimum of ten years over your way of life and were born in 1929 or later you’ll have enough credits to attract full-benefits with respect to the age you would like to retire as layer out on top of.
 
Ought to you become disabled, can no more work and conjointly have enough credits you’ll be able to receive full social security disability edges. You will find very strict recommendations that govern the program such as the degree of the incapacity and the way long you labored before becoming incapacitated. To be eligible medically you’ve got to be disabled also probably to continue therefore not less than twelve months or till deceased for those that have a fatal illness.
 
For that employment aspect it will depend on whenever you grew to become disabled and just how lengthy the issue has endured. There’s a current work build certain quantity of labor take a look at, every of which you have got to pass to be eligible for a benefits. Listed here are a couple of excellent examples:
 
Disabled the quarter before you choose to switched twenty four- 1.five years of labor in past 3 years, ending within the quarter you grew to become disabled.
 
You may realize a range of ways to try on how to apply for private security programs, phone, net and personally. All these government funded programs have separate specific criteria that you wish to meet to be able to receive money or medical attention. Bear in mind, even when you’re ineligible of those programs there’s still supplemental security earnings and insurance

I am more than six decades in age; I have been through years of upheaval and have seen the changes of our country, trends in society and in people, in general. People have changed and NOT for the good. The worst of them, I believe, is the ruthless business man or woman, especially the CEOs. Millions of dollars in wages and perks, high living and others just like him or her has changed America and America’s horizon. Now we stand on the precipice of yet another internal danger.

SOPA and PIPA

What is all the controversy about the Stop Online Piracy Act (SOPA) and the Protect IP Act (PIPA) that are currently before Congress? We have until January 24 to find out and to also discover for ourselves what is really behind these bills and to stop the bills. Where there is smoke, there is fire and the smoke of these bills are obscuring the truth.

Why does the entertainment industry need a couple of over-kill bills to protect their rights? This is like swatting a fly with a Buick. Why hasn’t the entertainment industry done more to protect itself? That protection does not need the big guns of government censorship, destruction of the “offender’s” website, loss of income and credibility, not to mention the harm done to global commerce. Yet, the biggest loss could very well be American freedom.

America

America has always stood for freedom – freedom for the little guy just as well as for the big guy. Now we find that freedom eroded and sliding toward the edge of the abyss. There is entirely too much confusion about these bills. That alone should warn us that smoke is covering the real issues. The old adage, Follow the Money, applies. Who and what are behind these bills? Think for a moment.

See through the smoke. If the government gained control of the Internet via these “benign” and “nothing to worry about” bills, what then could we expect?

First of all, the loss of freedom. We would be told what we could and couldn’t do on our own web sites. We could expect our web sites to be monitored and regulated. We would be expected to back government agendas; to speak against them would mean a shutdown of our web sites.

Secondly, governments have been predictable for centuries; they vacuum money from their people, legally and illegally, in the form of taxes, fees, fines and takeovers. We have seen entirely too many acts of corruption by our leaders. The attitude of the public is blasé. Too many public leaders are crooked; we all know that. The crooked politician or president does not get put out of office, but arrogantly continues, term after term, running up debt and furthering corruption.

Thirdly, the government would control information. When information is controlled, the people are controlled, when the people are controlled, the government can carry on its agenda without obstacles. Soon we would find ourselves no longer in a democracy.

The Predictability of Government

The government already has a stinking track record of “regulating” their own agencies, offices, departments, administrations, programs and others. Remember these debacles?

Waco and the Branch Davidians and the strong-arm use of the federal law system; FEMA in general, FEMA in particular during Katrina; the Social Security loss of funds due to government entities that “borrowed” funds from the Social Security program for their own pet projects and never returned the money. Now it is the impoverished, aged, sick and premature tiny babies that are blamed as a “drain” on Social Security!

What about the health care system? To call it a mess is an understatement. Benefits and other aids are being ripped from those afore-mentioned and given to illegal immigrants who receive benefits not due them because of their illegal status.

We do not allow American prisoners some rights and felons are denied most rights: the right to vote or hold government jobs, and so on. Yes, the government won’t step up to the plate and do something about illegal entry into the U.S., even though our citizens are denied their rights when they have acted illegally. The government’s mishandling of immigration is undermining our economy and our national security.

The government has mishandled money since the first tax was levied in our country. We are already taxed for everything imaginable. Blinded by dollar signs, they are desperate to get their foot in the door of the Internet. From the examples of Freddie Mac and Fanny Mae, the government can’t handle money. Our money. They have never figured out why Americans are forced to live on credit until their cards are maxed.

What about the waste of money in wars? Wars that the U.S. never intended to win. The loss of technology, money, materials and military personnel is an injustice and irresponsible. I recognize that there are times a country must go to war. But it should be under a set of predetermined conditions with a goal in mind.

American Losses

Our country’s men, women and children in the past decade has seen horrid catastrophic weather-related destruction: the tornadoes in Oklahoma and rains, floods, fires, mud slides, tornadoes, hail, drought and hurricanes have  battered the nation, racking up commercial losses through business loss and infrastructure damage and loss, loss of property and homes. Loss of citizens, pets, wild life, trees, food crops, gardens, food animals and fowl is heartbreaking.

Countless people are standing their own losses because the government did not deem their situation as grave enough to warrant federal aid.

I could go on. We have been victimized over and over again by our government and its hand in our pocket. Now the government wants to further withdraw money from our accounts by trying to shoulder its way into the Internet. Not just the government, but other dark undercurrents who also are vying for money and power. Undercurrents who fund lobbyists and other powerful groups to force their selfish interests to the forefront. The American citizen is under siege from all directions.

American Victims

Who will suffer the most should these bills be passed into law? The middle income, low income and the poverty level will be affected the most. This is where they find the information they need to make decisions, to find more critical information, to stay abreast of trends, to stay in touch with family, friends, neighbors and acquaintances around the world.

Stand UP, America!

The Internet helps the citizenry to make informed choices in their medical treatments, political candidates, businesses, and much, much more. Further, it is FREE! Since these income brackets — the middle, low and poverty — make up the majority of the population, it stands to reason that these are the most feared. They can make changes! They are a force to be reckoned with.

The marketing and commerce industries already know the value of Facebook, Twitter, Google, Reddit, Tumblr, Yahoo, eBay, Mozilla, Kickstarter, AOL, Zynga, and other social sites that are fertile grounds for advertisements and word of mouth endorsements. The government could impose injurious regulations on American businesses and enterprises.

The government would also gain control of all of these and countless others. Other countries would also play into our government’s hands because of the commerce and shipping prospects.

The Senate will begin voting on January 24. Sign all the online petitions you can find and let them know how you feel about this smokescreen and that you will not fall for their trickery. Write, e-mail and call your congress and senate representatives, your friends, family members and neighbors.

Mr. Santorum and Mr. Romney ripped into the proposal, saying it could increase federal deficits and debt at a time when the government should be reducing them.

Supporters of individual investment accounts say they would allow workers to earn a higher rate of return than they get from the Social Security trust fund.

Mr. Gingrich did not say exactly how he would pay the costs of making this change, which could be huge. Economists say that money diverted to private Social Security accounts would otherwise be available to pay benefits of current retirees, and that the government would need to find other ways to cover these costs.

Mr. Santorum said he had favored private accounts for 15 years, but thought the idea would be “fiscal insanity’’ at the moment.

If Mr. Gingrich is right in suggesting that 95 percent of younger workers would establish private accounts, Mr. Santorum said, “there’ll be hundreds of billions of dollars in increased debts,’’ and “we’re going to be borrowing money from China to fund these accounts, which is wrong.’’

Mr. Romney said, “We simply can’t say we’re going to go out and borrow more and more money to let people set up new accounts that take money away from Social Security and Medicare today.”

One way to offset the cost, Mr. Gingrich said, is to consolidate “185 different federal bureaucracies that deal with low-income Americans.’’ Mr. Gingrich said the government could slash overhead costs by consolidating these programs into a single block grant and sending it to the states. ( freezztech )

The Legal Services Corporation may be able to give you free legal advice on questions concerning your rights to social security benefits. I’ve found that the Legal Services staff can review the facts in your case and give you an independent opinion on whether you are rightfully eligible for social security benefits. They helped me a lot prior to me filing for Social Security.

If the Legal Services Corporation staff determines you are eligible for benefits, they can take your case before the Social Security Administration, or to the Federal Courts if necessary. The Legal Services Corporation has helped thousands of Americans collect benefits that were being denied them by the Social Security Administration. Thank God, that there are people out there that actually help when it comes to getting Social Security Disability.

So do not be down in the dumps if you get denied. I got denied 2 or 3 times, but finally ended up before a judge and got approved. So there is brighter days out there. One thing my grandfather told me growing up. ” Son, never give up on things easily, because if you give up, you surely lost at that point, and will never finish the race. Continue, and I promise you will come across the finish line sooner or later.”

That’s good solid information that has been with me all these years. It can work for you also. So, continue forward all the time, and stay positive, and you will win sooner or later. Never, Never give up on your dreams, or goals.