Social Security: January 2008 Archives

CNN says "Everybody seems to agree" - Really? This doesn't help.

By Think Retirement on January 23, 2008 1:06 PM | | Comments (0) digg this
MediaMatters.org draws attention to a report on The Situation Room, where the storyline is based on the assumption that Social Security will run out in 2041, contrary to government reports that refute that claim.  The story goes on with reporting on how various Presidential Candidates will address the issue.

Is it spin, or just bad reporting on CNN's part?  It's one thing for a television "news" show with a particular point of view to spin a story the way they want, using unsubstantiated fears as a pivot to leverage opinion.  Hopefully,most of us can see those shows and "news reports" for what they really are, but what is this?

We seriously doubt whether "Everybody knows" and "Voter's know" would never qualify as substantiation for a story in any journalism course.

It doesn't help the dialogue and certainly doesn't serve the public interest for our news outlets to crank out stories that aren't supported by facts they can cite.  It's called "fact checking" and it used to be a requisite part of reporting.  

Take a look at the video linked on the mediamatters.org page.   

It's not like there aren't some real issues that need to be addressed in terms of the viability of Social Security and it's funding, but the scare tactic that it's going to run out of funds and that everyone knows that to be true is simply unprofessional for someone who thinks of themselves as a journalist.   
    
Media Matters - CNN's Chernoff falsely claimed Social Security
will "be out of money in 2041"
http://mediamatters.org/items/200801230001?f=h_latest

Amend Title II of the Social Security Act?

By Think Retirement on January 21, 2008 1:50 PM | | Comments (0) digg this
Kentucky Senator Johnny Ray Turner has filed a Senate Resolution to amend Title II of the Social Security Act, to repeal provisions that limit or reduce benefits for public sector employees that receive pension or social security benefits that come from employment outside of their government employment.  Teachers, in particular, are affected by this.  

Should Government worker benefits be reduced because they worked additional jobs to augment their income?  

From - WKYT - WYMT News 57 Mountain News Homepage

"The National Education Association estimates that 300,000 individuals are losing an average of $3,600 a year due to the Government Pension

Offset provision.

Turner said the Windfall Elimination provision impacts the teaching profession because people are less likely to leave other careers in which they earn Social Security benefits to become educators.

The Government Pension Offset and Windfall Elimination provisions have the severest effect on widowed lower-income women who have worked hard for years and can least afford reduced benefits."

http://www.wkyt.com/wymtnews/headlines/13947622.html


Social Security Agency Corrects 2.9 Million Miscalculated Tax Forms

By Think Retirement on January 18, 2008 8:43 AM | | Comments (0) digg this
If you used information on a 1099-SSA form, and have already filed your return, you should file an amended return when you receive an updated 1099-SSA.  The revised forms are in the mail.

From SmartPros.com

"The incorrect data was contained on some 1099-SSA forms sent out earlier this month, said Mark Lassiter, spokesman for the agency in Baltimore.

The 1099s are sent to all persons who receive Social Security benefits, reporting how much they received during the year. That information is needed to fill out income tax returns. The Internal Revenue Servicereceives copies of the 1099s, which are matched to returns by computer.

Corrected forms will be sent to all affected Social Security recipients and to the IRS by the end of the month, Lassiter said. Because corrected information is on the way, he said the Social Security Administration decided not to tell the public about the mistake until asked about it by a reporter."


USA Today - Turning 62

By Think Retirement on January 18, 2008 8:34 AM | | Comments (0) digg this
USA Today is running a week-long series of articles of interest to new retirees.  Today's article is a Q&A on several topics regarding decisions on when to take retirement benefits, including questions about spousal and dependent benefits.  

http://www.usatoday.com/money/perfi/retirement/2008-01-17-questions_N.htm

Will aging boomers lose benefits? - USATODAY.com

By Think Retirement on January 17, 2008 11:41 AM | | Comments (0) digg this
It's hard to find anyone that says the system will remain as it is now with no changes.  The question is what changes are being advocated, who is behind the proposals, what segment of the population is going to be compromised and why. 

The article on whether the benefits of boomers are at risk is an interesting read in itself, but so are the comments.  

http://www.usatoday.com/money/perfi/retirement/2008-01-16-boomer-future-benefits_N.htm?loc=interstitialskip

Social Security and Health Care for Lower Income Seniors

By Think Retirement on January 15, 2008 8:41 AM | | Comments (0) digg this
Medical News Today reports that a study done by the American Institutes for Research indicates that policy changes are required to bolster the security of programs which aid lower income seniors.  Policy changes that don't rely on reduction of benefits or reliance on privatization are recommended.  The article points out that even seniors with the benefit of 401k plans can be at risk of decline should market conditions reduce the value of their securities and that a health crisis can overwhelm the finances of those with modest means. 

The arguments for and against privatization as a solution to both Social Security and Health Care issues has many facets, and one of the most serious questions is whether individuals have the means to take advantage of plans that propose to provide incentives for private solutions.  For many, and especially those who do not have employer provided health insurance, the cost of private plans is greater than their income will allow, even with incentives and subsidies.  When they can afford them, the deductibles and limited coverage leaves them with bills they can ill afford if even the most minor of health issues arise.  And remember, the lowest cost policies provide only the most basic coverage.  Many services and fees are not covered.

Many studies cite health care issues as the primary cause of financial breakdown.  The costs of modern health care can be staggering.  Any plan, government or private, must take into account the ability of those covered to stay covered, or it's not adequate, and not really a plan at all.  

http://www.medicalnewstoday.com/articles/93929.php

Social Security Disability Appeal

By Think Retirement on January 13, 2008 11:45 AM | | Comments (0) digg this
You learn something every day.  We had no idea how the Social Security Disability Claim process worked, but if this is what we have to look forward to when dealing with a claim, we're unhappy to find out.  

We picked up this story on Denial at the Hearing Level



Do you have a story about Social Security Disability?  

What Does Mike Gravel Say?

By Think Retirement on January 13, 2008 11:26 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Mike Gravel Say?


The Gravel2008 site has a page that addresses a wide range of issues, including Health Care and Social Security.


http://www.gravel2008.us/issues 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Duncan Hunter Say?

By Think Retirement on January 13, 2008 10:20 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Duncan Hunter Say?


The GoHunter08 site has a single issues page that includes Health Care.  At the time of this post, there is no mention of Social Security on that page.


http://www.gohunter08.com/inner.asp?z=4 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Alan Keyes Say?

By Think Retirement on January 13, 2008 9:16 AM | | Comments (2) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Alan Keyes Say?


Health Care: http://www.alankeyes.com/issues_list.php#health_care 


Social Security: http://www.alankeyes.com/issues_list.php#social_security 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Ron Paul Say?

By Think Retirement on January 12, 2008 1:00 PM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Ron Paul Say?


Health Care: 

http://www.ronpaul2008.com/issues/health-care/ 

http://www.ronpaul2008.com/issues/health-freedom/ 


Social Security;

http://www.ronpaul2008.com/issues/social-security/ 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Fred Thompson Say?

By Think Retirement on January 12, 2008 11:45 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Fred Thompson Say?


Health Care: http://www.fred08.com/Principles/PrinciplesSummary.aspx?View=OnTheIssues 


Social Security: http://www.fred08.com/virtual/socialsecurity.aspx 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Dennis Kucinich Say?

By Think Retirement on January 11, 2008 5:00 PM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Dennis Kucinich Say?


Health Care: http://www.dennis4president.com/go/issues/a-healthy-nation/ 


Social Security:

http://www.kucinichonline.com/pdfs/Kucinich_Social_Security.pdf 

http://www.kucinichonline.com/pdfs/Kucinich_Seniors.pdf 

http://www.kucinichonline.com/pdfs/Kucinich_Universal_Health_Care.pdf 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

Absurdist and Alarmist? Moody's Over-Corrects?

By Think Retirement on January 11, 2008 3:57 PM | | Comments (0) digg this
Forbes is reporting that Thomson Financial is reporting that Moody's is cautioning that in the very long-term, if reforms are not carried out, Social Security and Medicare could threaten the US government "AAA" rating. 

The Newshoggers cites data that suggests this is an unfair portrayal of the impact social security will have on the equation, but points out that the health care issues are matters of concern.

Is Moody's over-correcting as a result of the fallout of the sub-prime collapse?

(The announcment is a wonderful example of financial reporting, too.  "If this and if that, unless the other and maybe."  Classic!)

What Does John Edwards Say?

By Think Retirement on January 11, 2008 12:30 PM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does John Edwards Say?


Health Care: http://www.johnedwards.com/issues/health-care/


Social Security: http://www.johnedwards.com/issues/seniors/ 


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

Social Security - The $97,500 Threshold

By Think Retirement on January 11, 2008 11:29 AM | | Comments (0) digg this
One suggestion for funding Social Security in the future is to alter the current regulation that exempts income over $97, 500 from Social Security Taxes.  Here is a video clip from a CNN Youtube Debate with responses to a question about the $97,500 cutoff issue.  

Is it time to adjust the upper limit of income subject to Social Security Taxes?  If so, what should the limit be?


What Does Rudy Giuliani Say?

By Think Retirement on January 11, 2008 10:05 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Rudy Giuliani Say?


Health Care: http://www.joinrudy2008.com/issues/view/11 


Social Security: http://www.joinrudy2008.com/article/pr/823 (there is no specific position statement on Social Security in the Issues section of the Giuliani site, so we've included a news article)


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Mitt Romney Say?

By Think Retirement on January 11, 2008 9:25 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Mitt Romney Say?


Health Care: http://www.mittromney.com/Issues/healthcare 


Social Security: http://www.mittromney.com/News/Press-Releases/Romney_Agenda_10.9.07


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Mike Huckabee Say?

By Think Retirement on January 11, 2008 7:30 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Mike Huckabee Say?


Health Care: http://www.mikehuckabee.com/?FuseAction=Issues.View&Issue_id=8


Social Security: http://www.mikehuckabee.com/?FuseAction=Issues.View&Issue_id=5


These links may change over time, and the candidates may provide more information. We'll post current links when we find them.

What Does Barack Obama Say?

By Think Retirement on January 11, 2008 1:09 AM | | Comments (0) digg this

Another entry in a series that links to material posted on the web sites of the candidates.


What Does Barack Obama Say?


Health Care: http://www.barackobama.com/issues/healthcare/ 


Social Security: http://www.barackobama.com/issues/socialsecurity/


These links may change over time, and the candidates may provide more information.  We'll post current links when we find them.

What Does John McCain Say?

By Think Retirement on January 10, 2008 4:45 PM | | Comments (0) digg this

Another entry in a series that will link to material posted on the Web sites of the candidates.


What Does John McCain Say?


Health Care: 

http://www.johnmccain.com/Informing/Issues/19ba2f1c-c03f-4ac2-8cd5-5cf2edb527cf.htm 


Social Security: 

http://www.johnmccain.com/Informing/Issues/0B8E4DB8-5B0C-459F-97EA-D7B542A78235.htm 


These links may change over time, and the candidates may provide more information.  We'll post current links when we find them.

What Does Hillary Clinton Say?

By Think Retirement on January 10, 2008 12:53 PM | | Comments (0) digg this
This is the first entry in a series that will link to material posted on the Web sites of the candidates.  Some have specific entries in the "Issues" sections of their sites that address retirement issues such as Health Care and Social Security.  Others have press releases and transcripts of speeches that address the issues.  Some have lots of information and some have very little.  So, to help you see what they are saying, check out the links!

What Does Hillary Clinton Say?


Retirement Plan - 401(k): http://www.hillaryclinton.com/news/release/view/?id=3632 


These links may change over time, and the candidates may provide more information.  We'll post current links when we find them.

Campaign 2008 - Retirement - Vote in our Poll

By Think Retirement on January 8, 2008 10:54 AM | | Comments (0) digg this
Welcome to the Think Retirement blog! 

The 2008 Presidential Candidate selection process has officially begun with the Iowa Caucuses and the New Hampshire Primary.  Today is primary day in New Hampshire, and the residents of that state are lining up in what appear to be record numbers to cast their votes.  What's driving people to vote for one candidate or another?  Iraq?  Immigration?  War on Terror?  Foreign Relations?  The Economy?  Who is the best "Agent of Change?"

How will the candidates address Retirement issues?  What can we see from their position statements and what they are saying today?  We'll be taking a look at those issues as the campaigns progress, in addition to other topics that are of interest to people of retirement age.  

Vote in our poll on the right.  We'll keep it up through the entire campaign season, so check back to see who's leading the race.  It's unbiased, not affiliated with any party or candidate and completely unscientific!  Only one vote per person, please.  

Issues that speak directly to the subject of retirement do not seem to be foremost on the minds of the candidates, or the reporters and pundits who speak endlessly on their every move and sound bite.  No matter what transpires in terms of the War in Iraq, Immigration, or any of the other major issues over the next four to eight years, we are all going to get older, and many will be giving more and more attention to retirement issues.  Health Care, Social Security, Employment and fiscal responsibility issues will get our attention as record numbers of Baby Boomers confront leaving the mainstream workforce.  

Let's Go!  Vote in our Poll - Tell us what you think is important!
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