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Social Security Changes for 2022

conehead433

Diamond Member
Dec 4, 2002
5,362
437
126
  • Social Security recipients got a 1.3% raise for 2021, compared with the 1.6% hike that beneficiaries received in 2020.
  • Maximum earnings subject to the Social Security tax also increased—from $137,700 a year to $142,800.
  • Other changes for 2021 included an increase in how much money working Social Security recipients can earn before their benefits are reduced and a slight rise in disability benefits.
  • Social Security tax rates remain the same for 2021: 6.2% on employees and 12.4% on the self-employed.
  • It now takes $1,470 to earn a single Social Security credit, up $60 from 2020.
So because of Congress continually stealing money from SS it is evident that something needs to be done to shore up SS for the future. Step one is to make it against the law for Congress to steal or reallocate any SS funds. Step two is to increase the maximum earnings threshold to at least $250,00, but why not $500,000 or $1,000,000. Those are the only changes needed to save it. I'm sure the rich would prefer that the tax rate go up and not the earnings threshold. Rather than tax them (the rich) more just add more taxes to the working poor. That seems to be the way the US has always done it.
 

SmCaudata

Senior member
Oct 8, 2006
884
1,303
136
The earning threshold should stay the same, but then kick back in again at $500k or something.

Taking capital gains as income would go a long way too.

The high salaried earners (doctors, lawyers, etc) already pay the most. We need to get self employed financial folks that skate by paying nothing.

We also need to tax wealth. Stock options allow tax free money with ways to bypass inheritance.
 
Jul 9, 2009
10,278
1,698
136
Inflation is rising far faster than any COL increase. So far this year
2021
1.4​
1.7​
2.6​
4.2​
5.0​
5.4​
5.4​
5.3​

 

Lost_in_the_HTTP

Diamond Member
Nov 17, 2019
4,891
2,614
106
Not everyone who pays in should be able to draw out, based on other retirement income, but I'm not sure what the cutoff point should be. Maybe ten times the Poverty income level? Maybe five times? Clearly many people don't NEED it while a significant number do.
 

SmCaudata

Senior member
Oct 8, 2006
884
1,303
136
Not everyone who pays in should be able to draw out, based on other retirement income, but I'm not sure what the cutoff point should be. Maybe ten times the Poverty income level? Maybe five times? Clearly many people don't NEED it while a significant number do.
Everyone retires. Well most do. It is a government pension. It has to pay out to everyone
 
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sportage

Lifer
Feb 1, 2008
10,167
1,914
126
People on SS "should" see a nice raise of some 6% due to inflation. The highest increase ever, if I heard correctly.
But many people on SS believe that the government will suddenly fudge the inflation figures at the last minute to greatly reduce that 6% down to 2 or 3% and thus reducing the raise.

And I tell my trumpie relatives all the time because they have a tendency to forget (deny). THAT... it was Donald Trump who eliminated the SS withholdings from workers paychecks during the pandemic so that workers could have more take-home pay. SS withholding was temporally ceased for months to give wage earners more loot. However.... what people forget is that Donald Trump ""HINTED"", hinted strongly at making this permanent in his second term once he was re-elected in 2021.

So trumperies, had Trump been reelected and had his way, no SS withholding would have been withheld ever again from wage earners paychecks. And you know what THAT would mean, the end of SS.
And remember..... THIS is exactly what republicans in congress have been wanting to do for years and years, to kill off that entitlement started by democrat president FDR. Republicans in congress HATE social security, they HATE medicare, they HATE every one of those safety nets began by president FDR.

If Donald Trump had been reelected or is again to be elected in the future, say goodbye to social society as we know it. Instead, all those on SS will get a turkey at Christmas and a $1000 tax voucher that they can use every April 15th. And that's about it....
Goodbye retirement, hello Walmart greeter.
 

dank69

Lifer
Oct 6, 2009
30,176
15,457
136
Inflation is rising far faster than any COL increase. So far this year
2021
1.4​
1.7​
2.6​
4.2​
5.0​
5.4​
5.4​
5.3​

Thanks Trump.
 

nOOky

Platinum Member
Aug 17, 2004
2,199
1,051
136
People on SS "should" see a nice raise of some 6% due to inflation. The highest increase ever, if I heard correctly.
But many people on SS believe that the government will suddenly fudge the inflation figures at the last minute to greatly reduce that 6% down to 2 or 3% and thus reducing the raise.

And I tell my trumpie relatives all the time because they have a tendency to forget (deny). THAT... it was Donald Trump who eliminated the SS withholdings from workers paychecks during the pandemic so that workers could have more take-home pay. SS withholding was temporally ceased for months to give wage earners more loot. However.... what people forget is that Donald Trump ""HINTED"", hinted strongly at making this permanent in his second term once he was re-elected in 2021.

So trumperies, had Trump been reelected and had his way, no SS withholding would have been withheld ever again from wage earners paychecks. And you know what THAT would mean, the end of SS.
And remember..... THIS is exactly what republicans in congress have been wanting to do for years and years, to kill off that entitlement started by democrat president FDR. Republicans in congress HATE social security, they HATE medicare, they HATE every one of those safety nets began by president FDR.

If Donald Trump had been reelected or is again to be elected in the future, say goodbye to social society as we know it. Instead, all those on SS will get a turkey at Christmas and a $1000 tax voucher that they can use every April 15th. And that's about it....
Goodbye retirement, hello Walmart greeter.
What's funny is if SS were eventually eliminated, I suspect mostly Trump supporters would feel the pain from it in the poorer red states. They'd go the first 30 years of their working life buying bass boats and pick ups, before they realized that !shit! I ain't got no money to retire on.
 
Last edited:

SmCaudata

Senior member
Oct 8, 2006
884
1,303
136
SS should be optional. Guess who'd opt out of it? Likiely


What's funny is if SS were eventually eliminated, I suspect mostly Trump supporters would feel the pain from it in the poorer red states. They'd go the first 30 years of their working life buying bass boats and pick ups, before they realized that !shit! I ain't got no money to retire on.
I'm assuming the optional comment was not serious. If it were optional, I'd opt out. So would every high paying wage earner. With funding only coming from the median and below wages, the system would collapse and we'd have a crisis in 30 years.
 
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fskimospy

Elite Member
Mar 10, 2006
74,208
26,685
136
  • Social Security recipients got a 1.3% raise for 2021, compared with the 1.6% hike that beneficiaries received in 2020.
  • Maximum earnings subject to the Social Security tax also increased—from $137,700 a year to $142,800.
  • Other changes for 2021 included an increase in how much money working Social Security recipients can earn before their benefits are reduced and a slight rise in disability benefits.
  • Social Security tax rates remain the same for 2021: 6.2% on employees and 12.4% on the self-employed.
  • It now takes $1,470 to earn a single Social Security credit, up $60 from 2020.
So because of Congress continually stealing money from SS it is evident that something needs to be done to shore up SS for the future. Step one is to make it against the law for Congress to steal or reallocate any SS funds. Step two is to increase the maximum earnings threshold to at least $250,00, but why not $500,000 or $1,000,000. Those are the only changes needed to save it. I'm sure the rich would prefer that the tax rate go up and not the earnings threshold. Rather than tax them (the rich) more just add more taxes to the working poor. That seems to be the way the US has always done it.
Congress is not stealing money from social security and the idea of saving money for future benefits is also functionally impossible as a concept. The government can’t save money this way! It’s irrational.

Nothing needs to be done to shore up social security right now. In the future we will have to increase taxes or lower benefits but nothing we do now will matter in that respect.
 
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dank69

Lifer
Oct 6, 2009
30,176
15,457
136
Are you making the claim that he's still the President? tsk tsk, it's 2021, F Joe Biden is President.
Are you making the claim that a President's economic policies have immediate effects rather than taking months or years to kick in, or that a President's economic policies cease to have any effect the day he leaves office? tsk tsk, it's 2021, why are you still so stupid?
 

brycejones

Lifer
Oct 18, 2005
21,547
13,972
136
Are you making the claim that a President's economic policies have immediate effects rather than taking months or years to kick in, or that a President's economic policies cease to have any effect the day he leaves office? tsk tsk, it's 2021, why are you still so stupid?
Taj was too close too many grenade blasts. The effects of so many TBI events has dramatically reduced his already extremely limited cognitive abilities.
 

allisolm

Elite Member
Administrator
Jan 2, 2001
24,054
2,314
136
And the actual raise in SS will be 5.9% for 2022. In case anyone gets too excited, Medicare part B price expected to be raised "substantially". The left hand giveth while the right hand taketh away. As it has been, it always shall be.

 
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balloonshark

Diamond Member
Jun 5, 2008
5,319
1,555
136
And the actual raise in SS will be 5.9% for 2022. In case anyone gets too excited, Medicare part B price expected to be raised "substantially". The left hand giveth while the right hand taketh away. As it has been, it always shall be.

Also, many who get SS also qualify for SNAP and HUD benefits. They both adjust their benefit amounst based on your income. So when you get a SS raise they cut their benefits to where you end up breaking even or take a loss.
 
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allisolm

Elite Member
Administrator
Jan 2, 2001
24,054
2,314
136
Also, many who get SS also qualify for SNAP and HUD benefits. They both adjust their benefit amounst based on your income. So when you get a SS raise they cut their benefits to where you end up breaking even or take a loss.
Another left hand, right hand thing.
 

hal2kilo

Lifer
Feb 24, 2009
18,805
5,791
136
People on SS "should" see a nice raise of some 6% due to inflation. The highest increase ever, if I heard correctly.
But many people on SS believe that the government will suddenly fudge the inflation figures at the last minute to greatly reduce that 6% down to 2 or 3% and thus reducing the raise.

And I tell my trumpie relatives all the time because they have a tendency to forget (deny). THAT... it was Donald Trump who eliminated the SS withholdings from workers paychecks during the pandemic so that workers could have more take-home pay. SS withholding was temporally ceased for months to give wage earners more loot. However.... what people forget is that Donald Trump ""HINTED"", hinted strongly at making this permanent in his second term once he was re-elected in 2021.

So trumperies, had Trump been reelected and had his way, no SS withholding would have been withheld ever again from wage earners paychecks. And you know what THAT would mean, the end of SS.
And remember..... THIS is exactly what republicans in congress have been wanting to do for years and years, to kill off that entitlement started by democrat president FDR. Republicans in congress HATE social security, they HATE medicare, they HATE every one of those safety nets began by president FDR.

If Donald Trump had been reelected or is again to be elected in the future, say goodbye to social society as we know it. Instead, all those on SS will get a turkey at Christmas and a $1000 tax voucher that they can use every April 15th. And that's about it....
Goodbye retirement, hello Walmart greeter.
Damn, 2 years with my new job, and I got almost a 6% raise. New job is making sure what day it is. :)
 
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