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Showing posts with the label social security

How America Co-opted the Future of Generation X and Y and How We Can Fix It-An Examination of Social Security

Bernie Sanders was no fluke, his appeal to the youth of Generation Y and to some extent Gen Xers is marked by real evidence showing how their futures have been muted by financial decisions made by Congress. The President of the nation, theoretically, is elected by us, although recent elections have shown the arcane electoral vote, meant to secure the democracy when many voters were illiterate, has called this into question. It turns out the electoral college is just another version of the �old boys club�. This article examines the contract for Social Security which the United States has made with its working class and what that means for the future of your children and grandchildren, in other words, those whom will be paying the tab. Social Security Social Security Taxes Paid by your Grandparents versus Workers of Today Year 1940 1977 2017 Payroll tax rate is based on wage income and is split evenly between the employer and the employee 1% capped at $3,000; Medicare did...

Fatwa on the Fat Wallets; the Dismantling of the Middle Class in America

How the latest proposed tax cuts lead to the dismantling of the middle class in America President Obama�s latest capitulation to the greed of the Republicans is unparalled in the blatant disregard for the middle class of the United States. In the event you are just coming out of a coma let me enlighten you as to the facts on the Obama Tax Cut Proposal. Social Security is being Dismantled The financing mechanism for social security has been cut by 30%; further eroding the ability of this program to provide the funds for those who are retired, disabled, as well as for widows and children. This is not some abstract idea to me, as my son lost his father when he was an infant and it has been a long 14 years of scratching by. In order to pay for the current social security benefits the fund has to borrow money, to the tune of 112 million. The reduction in Social Security funding will mean our children will have to pay higher taxes in the future to make up for the funding shortfall, to say no...