NewsTrust - Social Security - Most Recent Stories: News (Independent)

The PolitiFact guide to Medicare attack lines

Sun, 06 May 2012 00:00:00 -0700

PolitiFact - By Angie Drobnic Holan, Louis Jacobson - May. 06 (Fact Check) - Barack Obama has slashed Medicare by $500 billion. Mitt Romney and House Republicans want to end Medicare. And a new board is going to ration care so Washington can waste more money. Believe any of that? You shouldn’t. But it’s what the political ads likely will be saying between now and Election Day in November. We have some advice for voters sorting out the claims: Believe nothing you hear in a 30-second TV ad. Here are a few facts about Medicare: • It’s the government-run health insurance for Americans over age 65. • It’s a Canada-style, single-payer system. Liberals love that; conservatives don’t. • It has approximately 50 million people on its rolls. • That 50 million will grow to 80 million as baby boomers retire. Paying for that will be a challenge. Those realities about Medicare have sparked a full-fledged political brawl for 2012.

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Ryan Budget Plan Would Cut Income Taxes for Millionaires by at Least $187,000 Annually and Facilitate Corporate Tax Avoidance

Thu, 22 Mar 2012 00:00:00 -0700

ctj.org - Mar. 22 (News Analysis) - House Budget Committee Chairman Paul Ryan has introduced a budget plan that, if implemented, would reduce revenues so significantly that they would be inadequate to pay for the federal spending under the Reagan administration, let alone the spending required in the years ahead. The Ryan budget would provide income tax cuts for millionaires averaging at least $187,000 in 2014. The plan would also reduce corporate income taxes and would increase the (already considerable) incentives for corporations to shift profits and jobs overseas.

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AARP Plans Secret ‘Salon’ With Social Security Opponents

Sat, 17 Mar 2012 00:00:00 -0700

Huffington Post - By Ryan Grim - Mar. 17 (News Report) - An AARP invitation to a secret "Relaxed and Robust Evening of 'Salon Style' Conversation" to be held at a Capitol Hill home on March 27, obtained by The Huffington Post, indicates that the organization is still very much interested in a "grand-bargain" style deal that puts Social Security and Medicare cuts on the table.

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'Hose Streets? Our Streets!' Belgian Firefighters Turn Their Ire (and Hoses) on Austerity

Fri, 10 Feb 2012 00:00:00 -0800

Common Dreams - Feb. 10 (News Report) - In a great reversal from most recent street protests, Belgian firefighters today, who were out in force to voice their opposition to government proposed cuts to their retirement plans, turned their firehoses on the prime minister's office. Belgian police get wet as they guard the entrance to the cabinet office from protesting firefighters. (Photograph: KeystoneUSA-ZUMA/Rex Features) read ...

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H-1B Workers’ Use of Social Security Numbers

Tue, 18 Oct 2011 00:00:00 -0700

SSA - Oct. 18 (Special Report) - Based on the results of our review, we estimate about 7,131 (18 percent) of the 38,546 H-1B workers to whom the Social Security Administration (SSA) assigned an SSN in 2007 may have used their SSNs for purposes other than to work for their approved employer. This estimate includes about 4,433 (11 percent) H-1B workers who had posted wages during our audit period from an employer other than their DHS-approved employer. This estimate also includes about 2,698 (7 percent) H-1B workers who had no posted wages from 2007 through 2009.

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Taxation in the United States

Fri, 30 Sep 2011 00:00:00 -0700

Wikipedia - Sep. 30 (Special Report) - The United States is a federal republic with autonomous state and local governments. Taxes are imposed in the United States at each of these levels. These include taxes on income, property, sales, imports, payroll, estates and gifts, as well as various fees. Taxes are imposed on net income of individuals and corporations by the federal, most state, and some local governments. Residents are taxed on worldwide income and allowed a credit for foreign taxes. Income subject to tax is determined under tax rules, not accounting principles, and includes almost all income from whatever source. Most business expenses reduce taxable income, though limits apply to a few expenses. Individuals are permitted to reduce taxable income by personal allowances and certain nonbusiness expenses, including home mortgage interest, state and local taxes, charitable contributions, and medical and certain other expenses incurred above certain percentages of income. State rules for determining taxable income often differ from federal rules. Federal tax rates vary from 15% to 35% of taxable income. State and local tax rates vary by jurisdiction, and many are graduated. State taxes are generally treated as a deductible expense for federal tax computation. Certain alternative taxes may apply. Payroll taxes are imposed by the federal and all state governments. These include Social Security and Medicare taxes imposed on both employers and employees, at a combined rate of 15.3% (13.3% for 2011). Social Security tax applies only to the first $106,800 of wages in 2009 through 2011. Employers also must withhold income taxes on wages. An unemployment tax and certain other levies apply.

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Super Committee Holding Super Secret Meetings

Wed, 28 Sep 2011 00:00:00 -0700

Huffington Post - Sep. 28 (News Report) - Throughout the day on Tuesday, a smattering of political reporters leaned up against walls in the basement of the Capitol Visitors Center. Inside room HVC200, the 12-member supercommittee, tasked with reshaping the nation's tax code, social safety net and approach to war, was meeting in secret. "I don’t want to discuss what we discussed," Sen. John Kerry (D-Mass.) told the gathered reporters, as recorded by Politico. “I think you all know the rules,” Sen. Jon Kyl (R-Ariz.) told the group, according to Roll Call. “If you want to talk to somebody, talk to our two co-chairmen."

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Pennies from heaven

Thu, 15 Sep 2011 00:00:00 -0700

Harper's - By Chris Lehmann - Sep. 15 (News Analysis) - How Mormon economics shape the G.O.P (subscription required)

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Fact-check: CNN/Tea Party Debate

Wed, 14 Sep 2011 00:00:00 -0700

FactCheck - By Eugene Kiely, Robert Farley, Lori Robertson, Brooks Jackson, D'Angelo Gore - Sep. 14 (Fact Check) - The GOP presidential candidates debated for the second time in six days -- tossing out a variety of false and misleading claims on everything from Social Security to vaccines for sexually transmitted diseases. ...

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Fact-checking the CNN/Tea Party Express GOP debate

Tue, 13 Sep 2011 00:00:00 -0700

PolitiFact - By Bill Adair - Sep. 13 (Fact Check) - The CNN-Tea Party Express debate in Tampa on Monday night was dominated by talk about Social Security and the need for government to balance its budget. Mitt Romney led the attacks on the Republican frontrunner, Texas Gov. Rick Perry, by saying that Perry didn't support the retirement program. "In writing his book, Gov. Perry pointed out that … by any measure Social Security has been a failure," Romney said. We checked Perry's book and found Romney was right. We rated the claim True.

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The Payroll Tax Holiday: Talk about a Ponzi Scheme!

Fri, 09 Sep 2011 00:00:00 -0700

Common Dreams - By Wendy Mink - Sep. 09 (News Analysis) - Is President Obama trying to kill Social Security without explicitly saying so? He put Social Security "on the table" for consideration by his Deficit Commission -- even though Social Security has not contributed to creating or sustaining the deficit/debt in the first place. He kept Social Security on the table when he made a deal to delegate deficit reduction authority over entitlements to an undemocratic Super Committee. Now, in a speech reportedly about jobs, he proposed to extend and increase the ill-considered FICA tax cut he embraced last December -- a tax read more

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FactChecking the Reagan Debate

Thu, 08 Sep 2011 00:00:00 -0700

FactCheck - By Robert Farley, Brooks Jackson, Lori Robertson, D'Angelo Gore, Eugene Kiely - Sep. 08 (Fact Check) - The GOP candidates took some liberties when discussing jobs, Social Security, immigration, health care and other issues during the presidential debate at the Ronald Reagan Library: Perry exaggerated when he called Social Security a "Ponzi scheme" that won't be there for "kids that are 25 or 30 years old today." Social Security's finances — while troubled — are an open book, not an investment scam, and the program could still support 74 percent of promised benefits in 2085.

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Rick Perry Stands By Contentious Remarks

Sun, 28 Aug 2011 00:00:00 -0700

Huffington Post - Aug. 28 (News Report) - During a stop in Iowa on Saturday Republican presidential candidate Rick Perry stood by his criticism of Social Security as a "Ponzi scheme." He said the entitlement program amounts to a "monstrous lie" for young Americans, the Houston Chronicle reports.

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Mitt Romney Heckled, Presidential Candidate Says Corporations 'Are People, My Friend' (VIDEO)

Thu, 11 Aug 2011 00:00:00 -0700

Huffington Post - By Sam Stein, Elyse Siegel - Aug. 11 (News Report) - Speaking to an occasionally rowdy crowd two days before the Ames Straw poll, Republican presidential candidate Mitt Romney made what seems likely to become a much-discussed flub, declaring to a group of Iowans that "corporations are people."

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Bernie Sanders Gets Sarcastic, Rips Gang Of Six Plan

Thu, 21 Jul 2011 00:00:00 -0700

Huffington Post - Jul. 21 (News Report) - Sanders congratulated the GOP members of the Gang of Six on their "very significant victory in negotiating a deficit-reduction plan which achieves their long-term goal of dismantling every major social program relevant to working families."

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Fiscal FactCheck

Fri, 15 Jul 2011 00:00:00 -0700

FactCheck - By Brooks Jackson - Jul. 15 (Fact Check) - Washington's spending has recently been higher as a percentage of the nation's economic output than at any time since World War II. But by the same measure, Washington's revenues are the lowest in more than 60 years. So does the U.S. have "a spending problem," as Republicans keep repeating in the current debate over how to reduce the nation's record deficits? Or is the problem that taxes are not high enough? Those questions frame a long-running partisan debate, and as usual we won't offer an opinion one way or the other. But for those seeking their own answers, we can offer some fiscal history and factual context.

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Stealing from Social Security Is NOT a Debt Solution -- Why Do the Media Promote This Dangerous Myth?

Wed, 13 Jul 2011 00:00:00 -0700

AlterNet - By Dean Baker - Jul. 13 (News Analysis) - survey after survey shows, the vast majority of the public are incredibly ignorant of the most basic facts about the budget and the economy. If we treated their teachers in the media the way the educational reformers treat public school teachers, few economics and budget reporters would have jobs.

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Debt Lock: Will Obama Make Cuts to Social Security and Medicare?

Tue, 12 Jul 2011 00:00:00 -0700

Democracy Now - By Amy Goodman - Jul. 12 (News Report) - As President Obama tries to broker a compromise budget deal that would allow Congress to raise the national debt ceiling before an August 2 deadline, he may appease Republicans by cutting funding for Medicare and Social Security. Congressional Democrats say they have ruled out any gutting of Social Security, but there are concerns the cuts could still be achieved through a backhanded approach.

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As Debt Talks Threaten Medicare, Social Security, Study Finds U.S. Spending $4 Trillion on War

Sat, 09 Jul 2011 00:00:00 -0700

Democracy Now - By Amy Goodman - Jul. 09 (News Report) - As part of ongoing debt negotiations, the White House has proposed slashing more than $4 trillion from annual budget deficits over the next decade — twice what Obama had proposed earlier. While much of the talk in Washington centers on taxes, Social Security and Medicare, far less attention is being paid to the growing cost of the U.S. wars overseas. A new report from Brown University has estimated the true cost of the U.S. wars in Iraq, Afghanistan and Pakistan will end up costing approximately $4 trillion — far more than the Bush or Obama administrations have acknowledged.

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Alan Simpson Still Confused About Social Security Numbers

Wed, 25 May 2011 00:00:00 -0700

Huffington Post - By Zach Carter - May. 25 (News Report) - Former Sen. Alan Simpson (R-Wyo.) demanded cuts in Social Security Wednesday while lashing out at Republican strategist Grover Norquist, the AARP, "the cat food commission cats" and "sharpshooters" at The Huffington Post. Speaking before a luncheon sponsored by former Wall Street tycoon Pete Peterson's foundation, Simpson, a Republican appointed by President Barack Obama to co-chair a bipartisan commission on the federal debt, accused Norquist of being "a nut" and repeatedly harped on a new, misleading statistic about Social Security.

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New Polling Says Overwhelming Majority Wants Social Security Left Alone

Mon, 23 May 2011 00:00:00 -0700

Talking Points Memo - By Evan McMorris-Santoro - May. 23 (Poll) - New Polling Says Overwhelming Majority Wants Social Security Left Alone — Ask the voters and they'll tell you: Social Security cuts are off the table when it comes to cleaning up the budget mess in Washington. — Fresh polling from Ohio, Missouri, Montana and Minnesota published …

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House Republicans Face Backlash At Home Over Medicare Vote

Wed, 18 May 2011 00:00:00 -0700

Huffington Post - By Lucia Graves - May. 18 (News Report) - House Republicans returning to their districts on Monday faced harsh criticism for voting to turn Medicare, the federal health care program for retirees, into a voucher system. GOP lawmakers faced this same constituent ire mere weeks ago when they first voted to support House Budget Committee Chair Paul Ryan’s (R-Wis.) budget plan, which would lower tax rates for corporations and the wealthy while replacing Medicare with private-insurance subsidies for those under 55.

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How Raising Retirement Age Screws the Poor

Fri, 13 May 2011 00:00:00 -0700

Mother Jones - By Kevin Drum - May. 13 (News Analysis) - Whenever someone talks about how life expectancies have skyrocketed and we can't afford long, leisurely retirements anymore, show them this chart.

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House GOP to Democrats: Stop Telling the Public About Our Unpopular Agenda

Thu, 12 May 2011 00:00:00 -0700

AlterNet - By Steve Benen - May. 12 (News Report) - A wide variety of House Republicans, especially freshmen in competitive districts, heard from their constituents over the recent two-week break, and discovered that voters aren’t impressed with the GOP plan to end Medicare. Yesterday, they gathered to deliver a message to Democrats: Stop making us look bad by telling the public about our agenda.

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GOP Budget Would Leave Up To 44 Million More Low-Income Americans Uninsured: Report

Tue, 10 May 2011 00:00:00 -0700

Huffington Post - By Ricardo Alonso Zaldivar - May. 10 (News Report) - The House Republican budget would leave up to 44 million more low-income people uninsured as the federal government cuts states' Medicaid funding by about one-third over the next 10 years, nonpartisan groups said in a report issued Tuesday. The analysis by the Kaiser Family Foundation and the Urban Institute concluded that Medicaid's role as the nation's safety net health care program would be "significantly compromised ... with no obvious alternative to take its place," if the GOP budget is adopted.

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