Joe Biden says source of income during their golden years

For most Americans, Social Security is, or will become, a vital source of income during retirement. According to surveys conducted by national pollster Gallup, nearly 90% of current retirees lean on their Social Security income to make ends meet. Additionally, 84% of nonretirees expect to rely on Social Security as a "major" or "minor" source of income during their golden years. But even though it's been our nation's most successful retirement program for more than eight decades, Social Security finds itself in some pretty serious financial trouble. According to the 2022 Social Security Board of Trustees Report, the program is facing a jaw-dropping $20.4 trillion cash shortfall over the next 75 years. While this doesn't mean Social Security is insolvent -- the program, thankfully, can't go bankrupt as long as Americans continue working -- it does portend the growing likelihood of steep benefit cuts on the not-too-distant horizon if nothing changes. Joe Biden Has Called for Social Security Benefit Cuts 2 Times https://documenter.getpostman.com/view/23289482/2s7YmxeNpd https://documenter.getpostman.com/view/23289482/2s7YmxeNpe https://documenter.getpostman.com/view/23289482/2s7YmxeNpf https://documenter.getpostman.com/view/23289482/2s7YmxeNpg https://documenter.getpostman.com/view/23289482/2s7Ymxehcj https://documenter.getpostman.com/view/23289482/2s7Ymxehck https://documenter.getpostman.com/view/23289482/2s7Ymxehcn https://documenter.getpostman.com/view/23289482/2s7Ymxehco https://documenter.getpostman.com/view/23289482/2s7YmxehhE https://documenter.getpostman.com/view/23289482/2s7YmxehhG https://documenter.getpostman.com/view/23289482/2s7YmxehhJ https://documenter.getpostman.com/view/23289482/2s7Ymxehmb https://documenter.getpostman.com/view/23289482/2s7Ymxehmf https://documenter.getpostman.com/view/23289482/2s7Ymxehmi https://documenter.getpostman.com/view/23289482/2s7Ymxehr2 https://documenter.getpostman.com/view/23289482/2s7Ymxehr5 https://documenter.getpostman.com/view/23289482/2s7YmxehvP https://documenter.getpostman.com/view/23289482/2s7YmxehvS https://documenter.getpostman.com/view/23289482/2s7YmxehvV https://documenter.getpostman.com/view/23289482/2s7YmxehvX https://documenter.getpostman.com/view/23289482/2s7Ymxehzp https://documenter.getpostman.com/view/23289482/2s7Ymxehzq https://documenter.getpostman.com/view/23289482/2s7Ymxehzr https://documenter.getpostman.com/view/23289482/2s7Ymxehzv https://documenter.getpostman.com/view/23289482/2s7Ymxehzx https://documenter.getpostman.com/view/23289482/2s7Ymxei5E https://documenter.getpostman.com/view/23289482/2s7Ymxei5F https://documenter.getpostman.com/view/23289482/2s7Ymxei5J https://documenter.getpostman.com/view/23289482/2s7Ymxei5L https://documenter.getpostman.com/view/23289482/2s7Ymxei5N https://documenter.getpostman.com/view/23289482/2s7Ymxei9f https://documenter.getpostman.com/view/23289482/2s7Ymxei9g Social Security needs to be "fixed" so it can thrive for many more generations, and that means making the hard decision to collect more revenue, cut benefits, or enact some combination of the two. While most lawmakers have shied away from directly calling for Social Security benefits to be cut, President Joe Biden has previously done so on two separate occasions. 1. Biden leaves the door open to raise the full retirement age Speaking in a very broad sense, Biden's political party (Democrat) prefers to raise additional revenue for Social Security by increasing the payroll tax paid by high-earning workers. But every once in a while, we see prominent lawmakers break with their party on key issues, which is exactly what happened when Joe Biden was a presidential candidate for the 2008 ticket. https://documenter.getpostman.com/view/23289482/2s7YmxeiE3 https://documenter.getpostman.com/view/23289482/2s7YmxeiE5 https://documenter.getpostman.com/view/23289482/2s7YmxeiE6 https://documenter.getpostman.com/view/23289482/2s7YmxeiE9 https://documenter.getpostman.com/view/23289482/2s7YmxeiJU https://documenter.getpostman.com/view/23289482/2s7YmxeiJW https://documenter.getpostman.com/view/23289482/2s7YmxeiJX https://documenter.getpostman.com/view/23289482/2s7YmxeiJZ https://documenter.getpostman.com/view/23289482/2s7YmxeiJc https://documenter.getpostman.com/view/23289482/2s7Ymxf36g https://documenter.getpostman.com/view/23289482/2s7Ymxf36h https://documenter.getpostman.com/view/23289482/2s7Ymxf36m https://documenter.getpostman.com/view/23289482/2s7Ymxf36o https://documenter.getpostman.com/view/23289482/2s7Ymxf3B5 https://documenter.getpostman.com/view/23289482/2s7Ymxf3B7 https://documenter.getpostman.com/view/23289482/2s7Ymxf3BA https://documenter.getpostman.com/view/23289482/2s7Ymxf3BD https://documenter.getpostman.com/view/23289482/2s7Ymxf3BE https://documenter.getpostman.com/view/23289482/2s7Ymxf3FW https://documenter.getpostman.com/view/23289482/2s7Ymxf3FY https://documenter.getpostman.com/view/23288822/2s7Ymxf3Fc https://documenter.getpostman.com/view/23288822/2s7Ymxf3Kv https://documenter.getpostman.com/view/23288822/2s7Ymxf3Ky https://documenter.getpostman.com/view/23288822/2s7Ymxf3L1 https://documenter.getpostman.com/view/23288822/2s7Ymxf3QK https://documenter.getpostman.com/view/23288822/2s7Ymxf3QP https://documenter.getpostman.com/view/23288822/2s7Ymxf3QS https://documenter.getpostman.com/view/23288822/2s7Ymxf3Uk https://documenter.getpostman.com/view/23288822/2s7YmxfNjV https://documenter.getpostman.com/view/23288822/2s7YmxfNjX https://documenter.getpostman.com/view/23288822/2s7YmxfNjY https://documenter.getpostman.com/view/23288822/2s7YmxfNjZ In September 2007, Biden released a plan that was, among other things, designed to shore up Social Security. Keep in mind that lawmakers have known since the 1985 Board of Trustees Report that Social Security wasn't on track to bring in enough revenue over the next 75 years to cover its projected payouts. Although this plan called for an increase to the maximum taxable earnings cap on high earners, Biden was also open to discussing bipartisan options, such as raising the full retirement age. The full retirement age is the age at which a beneficiary becomes eligible to receive 100% of their retired worker benefit. For roughly six decades after the first Social Security check went out in 1940, the full retirement age stood pat at 65. But following two rounds of gradual increases, everyone born in 1960 and later has a full retirement age of 67. https://documenter.getpostman.com/view/23288822/2s7YmxfNja https://documenter.getpostman.com/view/23288822/2s7YmxfNoq https://documenter.getpostman.com/view/23288822/2s7YmxfNor https://documenter.getpostman.com/view/23288822/2s7YmxfNos https://documenter.getpostman.com/view/23288822/2s7YmxfNou https://documenter.getpostman.com/view/23288822/2s7YmxfNov https://documenter.getpostman.com/view/23288822/2s7YmxfNow https://documenter.getpostman.com/view/23288822/2s7YmxfNox https://documenter.getpostman.com/view/23288822/2s7YmxfNoz https://documenter.getpostman.com/view/23288822/2s7YmxfNtF https://documenter.getpostman.com/view/23288822/2s7YmxfNtG https://documenter.getpostman.com/view/23288822/2s7YmxfNtH https://documenter.getpostman.com/view/23288822/2s7YmxfNtK https://documenter.getpostman.com/view/23288822/2s7YmxfNtL https://documenter.getpostman.com/view/23288822/2s7YmxfNtM https://documenter.getpostman.com/view/23288822/2s7YmxfNtN https://documenter.getpostman.com/view/23288822/2s7YmxfNtQ https://documenter.getpostman.com/view/23288822/2s7YmxfNxf https://documenter.getpostman.com/view/23288822/2s7YmxfNxh https://documenter.getpostman.com/view/23288822/2s7YmxfNxj https://documenter.getpostman.com/view/23288822/2s7YmxfNxn https://documenter.getpostman.com/view/23288822/2s7YmxfNxo https://documenter.getpostman.com/view/23288822/2s7YmxfNxp https://documenter.getpostman.com/view/23288822/2s7YmxfP36 https://documenter.getpostman.com/view/23288822/2s7YmxfP37 https://documenter.getpostman.com/view/23288822/2s7YmxfP39 https://documenter.getpostman.com/view/23288822/2s7YmxfP3A https://documenter.getpostman.com/view/23288822/2s7YmxfP3B https://documenter.getpostman.com/view/23288822/2s7YmxfP3D https://documenter.getpostman.com/view/23288822/2s7YmxfP3E https://documenter.getpostman.com/view/23288822/2s7YmxfP7V https://documenter.getpostman.com/view/23288822/2s7YmxfP7W Raising the full retirement age, which is a core solution touted by Republicans, would require eligible beneficiaries to wait longer to receive their full monthly payout. Regardless of whether retired workers choose to take their payout early -- therefore accepting a permanently reduced monthly benefit -- or wait until full retirement age, increasing the full retirement age would lower the lifetime benefits paid to a retired worker. 2. Joe Biden calls for means-testing The second time President Biden called for Social Security benefit cuts happened more recently. In May 2018, nearly a full year before declaring his candidacy for president, Biden advocated for benefits means-testing while speaking at a Brookings Institution event. Said Biden: https://documenter.getpostman.com/view/23288822/2s7YmxfP7Z https://documenter.getpostman.com/view/23288822/2s7YmxfP7c https://documenter.getpostman.com/view/23288822/2s7YmxfP7d https://documenter.getpostman.com/view/23288822/2s7YmxfP7e https://documenter.getpostman.com/view/23288822/2s7YmxfPBw https://documenter.getpostman.com/view/23288822/2s7YmxfPBx https://documenter.getpostman.com/view/23288822/2s7YmxfPC1 https://documenter.getpostman.com/view/23288822/2s7YmxfPC2 https://documenter.getpostman.com/view/23288822/2s7YmxfPGK https://documenter.getpostman.com/view/23288822/2s7YmxfPGL https://documenter.getpostman.com/view/23288822/2s7YmxfPGM https://documenter.getpostman.com/view/23288822/2s7YmxfPGN https://techplanet.today/post/watch-rick-and-morty-season-6-episode-3-online-on-adult-swim https://techplanet.today/post/hbo-max-watch-rick-and-morty-season-6-episode-3-online-athome https://techplanet.today/post/3-1663485851 https://techplanet.today/post/3-2022-1663485913 https://techplanet.today/post/hbo-max-watch-house-of-the-dragon-season-1-episode-5-online-athome https://techplanet.today/post/watch-house-of-the-dragon-season-1-episode-5-online-on-hbo https://techplanet.today/post/house-of-the-dragon-season-1-episode-5-2022 https://techplanet.today/post/house-of-the-dragon-season-1-episode-5-1 https://techplanet.today/post/watch-seal-team-season-6-episode-1-online-on-cbs https://techplanet.today/post/hbo-max-watch-seal-team-season-6-episode-1-online-athome https://techplanet.today/post/seal-team-season-6-episode-1-2022 https://techplanet.today/post/seal-team-season-6-episode-1 https://techplanet.today/post/watch-american-gigolo-season-1-episode-2-online-on-showtime https://techplanet.today/post/hbo-max-watch-american-gigolo-season-1-episode-2-online-athome https://techplanet.today/post/american-gigolo-season-1-episode-2-2022 https://techplanet.today/post/american-gigolo-season-1-episode-2 https://techplanet.today/post/watch-tales-of-the-walking-dead-season-1-episode-6-online-on-amc https://techplanet.today/post/hbo-max-watch-tales-of-the-walking-dead-season-1-episode-6-online-athome https://techplanet.today/post/tales-of-the-walking-dead-season-1-episode-6-2022 https://techplanet.today/post/tales-of-the-walking-dead-season-1-episode-6 Paul Ryan [the former Republican speaker of the house] was correct when he did the tax code. What's the first thing he decided we had to go after? Social Security and Medicare. Now, we need to do something about Social Security and Medicare. That's the only way you can find room to pay for it. Now, I don't know a whole lot of people in the top one-tenth of 1% or top 1% [who] are relying on Social Security when they retire. While Biden's remarks primarily emphasize the need to progressively increase payroll taxation on high earners, they also alluded to the idea of means-testing for benefits. https://techplanet.today/post/watch-9-1-1-season-6-episode-1-online-on-fox https://techplanet.today/post/hbo-max-watch-9-1-1-season-6-episode-1-online-athome https://techplanet.today/post/9-1-1-season-6-episode-1-2022 https://techplanet.today/post/9-1-1-season-6-episode-1 https://techplanet.today/post/watch-ncis-season-20-episode-1-online-on-cbs https://techplanet.today/post/hbo-max-watch-ncis-season-20-episode-1-online-athome https://techplanet.today/post/ncis-season-20-episode-1-2022 https://techplanet.today/post/ncis-season-20-episode-1 https://techplanet.today/post/watch-the-bachelorette-season-19-episode-12-online-on-abc https://techplanet.today/post/hbo-max-watch-the-bachelorette-season-19-episode-12-online-athome https://techplanet.today/post/the-bachelorette-season-19-episode-12-2022 https://techplanet.today/post/the-bachelorette-season-19-episode-12 https://techplanet.today/post/watch-queen-sugar-season-7-episode-3-online-on-own https://techplanet.today/post/hbo-max-watch-queen-sugar-season-7-episode-3-online-athome https://techplanet.today/post/queen-sugar-season-7-episode-3-2022 https://techplanet.today/post/queen-sugar-season-7-episode-3 https://techplanet.today/post/watch-new-amsterdam-season-5-episode-1-online-on-nbc https://techplanet.today/post/hbo-max-watch-new-amsterdam-season-5-episode-1-online-athome https://techplanet.today/post/new-amsterdam-season-5-episode-1-2022 https://techplanet.today/post/new-amsterdam-season-5-episode-1 https://techplanet.today/post/watch-andor-season-1-episode-1-online-on-disney https://techplanet.today/post/hbo-max-watch-andor-season-1-episode-1-online-athome https://techplanet.today/post/andor-season-1-episode-1-2022 https://techplanet.today/post/andor-season-1-episode-1 https://techplanet.today/post/watch-the-resident-season-6-episode-1-online-on-fox https://techplanet.today/post/hbo-max-watch-the-resident-season-6-episode-1-online-athome https://techplanet.today/post/the-resident-season-6-episode-1-2022 https://techplanet.today/post/the-resident-season-6-episode-1 https://techplanet.today/post/watch-fbi-season-5-episode-1-online-on-cbs https://techplanet.today/post/hbo-max-watch-fbi-season-5-episode-1-online-athome https://techplanet.today/post/fbi-season-5-episode-1-2022 https://techplanet.today/post/fbi-season-5-episode-1 Means-testing would involve partially or fully removing Social Security payouts to eligible recipients based on predefined annual income thresholds. In other words, it would ensure that individuals and couples who don't need Social Security benefits to live comfortably would receive a reduced payout, or perhaps none at all. Even though this would only affect a small percentage of beneficiaries, it's nevertheless a call for benefits to be cut. https://techplanet.today/post/watch-the-goldbergs-season-10-episode-1-online-on-abc https://techplanet.today/post/hbo-max-watch-the-goldbergs-season-10-episode-1-online-athome https://techplanet.today/post/the-goldbergs-season-10-episode-1-2022 https://techplanet.today/post/the-goldbergs-season-10-episode-1 https://techplanet.today/post/watch-chicago-med-season-8-episode-1-online-on-nbc https://techplanet.today/post/hbo-max-watch-chicago-med-season-8-episode-1-online-athome https://techplanet.today/post/chicago-med-season-8-episode-1-2022 https://techplanet.today/post/chicago-med-season-8-episode-1 https://techplanet.today/post/watch-the-handmaids-tale-season-5-episode-3-online-on-hulu https://techplanet.today/post/hbo-max-watch-the-handmaids-tale-season-5-episode-3-online-athome https://techplanet.today/post/the-handmaids-tale-season-5-episode-3-2022 https://techplanet.today/post/the-handmaids-tale-season-5-episode-3 https://techplanet.today/post/watch-stargirl-season-3-episode-4-online-on-the-cw https://techplanet.today/post/hbo-max-watch-stargirl-season-3-episode-4-online-athome https://techplanet.today/post/stargirl-season-3-episode-4-2022 https://techplanet.today/post/stargirl-season-3-episode-4 https://techplanet.today/post/watch-chicago-fire-season-11-episode-1-online-on-nbc https://techplanet.today/post/hbo-max-watch-chicago-fire-season-11-episode-1-online-athome https://techplanet.today/post/chicago-fire-season-11-episode-1-2022 https://techplanet.today/post/chicago-fire-season-11-episode-1 https://techplanet.today/post/watch-chicago-pd-season-10-episode-1-online-on-nbc https://techplanet.today/post/hbo-max-watch-chicago-pd-season-10-episode-1-online-athome https://techplanet.today/post/chicago-pd-season-10-episode-1-2022 https://techplanet.today/post/chicago-pd-season-10-episode-1 https://techplanet.today/post/watch-archer-season-13-episode-5-online-on-fxx https://techplanet.today/post/hbo-max-watch-archer-season-13-episode-5-online-athome https://techplanet.today/post/archer-season-13-episode-5-2022 https://techplanet.today/post/archer-season-13-episode-5 https://techplanet.today/post/watch-the-good-fight-season-6-episode-3-online-on-paramount https://techplanet.today/post/the-good-fight-season-6-episode-3-2022 https://techplanet.today/post/hbo-max-watch-the-good-fight-season-6-episode-3-online-athome https://techplanet.today/post/the-good-fight-season-6-episode-3 President Biden's four-point Social Security plan is a long shot to pass The thing about our elected officials is that their views on policy tend to change over time. That's the case with President Biden, whose four-point plan to strengthen Social Security -- this plan was laid out during his campaign -- makes no mention of reducing or cutting Social Security benefits. In no particular order, here are the four Social Security changes Biden now advocates: https://techplanet.today/post/watch-she-hulk-attorney-at-law-season-1-episode-6-online-on-disney https://techplanet.today/post/hbo-max-watch-she-hulk-attorney-at-law-season-1-episode-6-online-athome https://techplanet.today/post/she-hulk-attorney-at-law-season-1-episode-6-2022 https://techplanet.today/post/she-hulk-attorney-at-law-season-1-episode-6 https://techplanet.today/post/watch-law-order-svu-season-24-episode-1-online-on-nbc https://techplanet.today/post/hbo-max-watch-law-order-svu-season-24-episode-1-online-athome https://techplanet.today/post/law-order-svu-season-24-episode-1-2022 https://techplanet.today/post/law-order-svu-season-24-episode-1 https://techplanet.today/post/watch-atlanta-season-4-episode-3-online-on-fx https://techplanet.today/post/hbo-max-watch-atlanta-season-4-episode-3-online-athome https://techplanet.today/post/atlanta-season-4-episode-3-2022 https://techplanet.today/post/atlanta-season-4-episode-3 https://techplanet.today/post/watch-vampire-academy-season-1-episode-5-online-on-peacock https://techplanet.today/post/hbo-max-watch-vampire-academy-season-1-episode-5-online-athome https://techplanet.today/post/vampire-academy-season-1-episode-5-2022 https://techplanet.today/post/vampire-academy-season-1-episode-5 https://techplanet.today/post/watch-the-lord-of-the-rings-the-rings-of-power-season-1-episode-5-online-on-amazon https://techplanet.today/post/hbo-max-watch-the-lord-of-the-rings-the-rings-of-power-season-1-episode-5-online-athome https://techplanet.today/post/the-lord-of-the-rings-the-rings-of-power-season-1-episode-5-2022 https://techplanet.today/post/the-lord-of-the-rings-the-rings-of-power-season-1-episode-5 https://techplanet.today/post/watch-see-season-3-episode-5-online-on-apple-tv https://techplanet.today/post/hbo-max-watch-see-season-3-episode-5-online-athome https://techplanet.today/post/see-season-3-episode-5-2022 https://techplanet.today/post/see-season-3-episode-5 https://zenodo.org/communities/to-watch-rick-and-morty-s6-ep-3-online-stream/?page=1&size=20 https://zenodo.org/communities/watch-rick-and-morty-se6-ep3-online-series/?page=1&size=20 https://zenodo.org/communities/here-to-watch-rick-and-morty-s6-ep3-online-new-episode/?page=1&size=20 https://zenodo.org/communities/watch-rick-and-morty-season-6-episode-3-full-episodes/?page=1&size=20 Increase payroll taxation on high earners: In 2022, all earned income between $0.01 and $147,000 is subject to Social Security's 12.4% payroll tax. However, well over $1 trillion in wages and salary above $147,000 is exempted from this tax. Biden has proposed creating a doughnut hole between the current payroll tax cap and $400,000 where earned income would remain exempt. Meanwhile, the payroll tax would be reinstated on all wages and salary above $400,000 to generate more revenue for Social Security. Boost the special minimum benefit: Biden advocates increasing the minimum monthly payout to lifetime low-earners to 125% of the federal poverty level. If this proposal were law in 2022, it would mean a special minimum benefit of $1,416/month instead of $951 for a lifetime low-earner with 30 years of coverage. https://ideone.com/9wkBov https://pasteio.com/xmS9dhUN4peI https://bitbin.it/O6hKljEu/ https://controlc.com/ae060421 https://paste2.org/e8eWpw9P https://pst.klgrth.io/paste/g9ran http://paste.jp/2b213fbe/ https://pastelink.net/1c7g8j29 https://www.wowace.com/paste/971003e5 https://textbin.net/ghjh2szpct https://coliru.stacked-crooked.com/a/8a9db729108fa177 http://th.cpp.sh/3v2m3 https://dotnetfiddle.net/K1WueL https://paiza.io/projects/jah_FxfI9P6S2diRbtjaTQ?language=php https://p.teknik.io/To5kU https://geany.org/p/p7YkT/ https://ide.geeksforgeeks.org/afdc7744-9141-4641-b6d0-3c35e81f0d69 https://pastebin.com/xQTEGGpy https://jsitor.com/WXT4YK8Yj https://jsfiddle.net/mybkdexq/ http://th.cpp.sh/663qc https://dotnetfiddle.net/9IGsYV https://paiza.io/projects/TfCJNLOBvDum8hoUoeLdRw?language=php https://p.teknik.io/LFzYk https://geany.org/p/ZFfAO/ https://geany.org/p/eZKsM/ https://ide.geeksforgeeks.org/b82a0c72-1547-4494-8b45-c70d6330fb92 https://pastebin.com/qMW44W9R https://jsitor.com/sIfdtv0fl https://jsfiddle.net/t2eka8sm/ https://coliru.stacked-crooked.com/a/8e512698401156bd Lift benefits for long-lived Social Security recipients: Biden's plan calls for the primary insurance amount (PIA) to be increased by 1% annually from ages 78 through 82, which would equate to a 5% aggregate lift to the PIA. This proposed benefit increase is designed to help aged beneficiaries cover higher expenses as they age, such as medical transportation costs. Switch the inflationary tether to the CPI-E from CPI-W: Lastly, Biden has called for the Consumer Price Index for the Elderly (CPI-E) to become Social Security's new inflationary measure. Though the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) has been the program's inflationary tether since 1975, it doesn't do a particularly good job of tracking the expenditures that matter most to seniors. While these proposals have the potential to strengthen Social Security, Biden's plan doesn't have anywhere near the number of votes (60) that would be needed to amend Social Security in the Senate. https://mymediads.com/articles/152043 https://westseattleblog.com/forums-2/users/biden-called-social-security/ https://active.popsugar.com/@biden-says-a-vital-source/profile https://loop.frontiersin.org/people/2013433/bio The conundrum of Social Security reform is that both of America's political parties have a working solution, which means neither is willing to cede an inch and find common ground with their opposition. Without cooperation on Capitol Hill and from the Oval Office, Social Security appears destined to spiral toward what could be a sizable benefit cut in as little as 12 years. The $18,984 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $18,984 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Simply click here to discover how to learn more about these strategies.