re: Sanders, set to run social security policy, says he plans to increase benefits by $2400

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you greatly reduced the money that goes into funding programs for deadbeats like medicaid and welfare

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SS and these programs are funded in an entirely different way.
But you may be right. Who knows how much SS has been used for deadbeat programs? But our income tax ought to be paying these deadbeat programs.

$2400 a year. I thought when I clicked on this it was going to say a month.

2400 a year is a pittance.

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Yes, but all govt pensions need to be eliminated, and them moved to a 401k type plan only.

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Government pensions rely on the retirement, TSP and SS.

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every baby boomer is now eligible for SS. The cutoff year is 1964. SS eligibility starts at age 62. youngest ones are 62 this year

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This is the thinking that brought us Tuesdays election result

Anyone that retires at 62 takes a 30% benefit reduction. So No, few are retiring at 62. Therefore, 1958 is the year that people can take full retirement. That means its 6 more years before all boomers will claim their SS

$2,400 to SS recipients is nothing compared to $5,000 to every citizen.

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Congrats to the boomers, you will continue to keep ripping off the country.

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What country? You guys just voted to turn all our governing systems over to the communists

Fantastic move. As if groceries and gas, insurance, and housing prices will suddenly return to 2016 levels.

Soros, Gates etc.. aren't ever the targets. Elon and his ilk are always the unspoken intent of this stuff.

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So In think the limit for SS deductions is $192,000. Social Security needs to be fixed. What's wrong with a payroll tax for SS say up to $400,000?

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Nothing if you uncap benefits too.

Does demonstrate the idea that SS is “my money” is long ago dead (it was always just a myth)

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DEMANDING the rich pay their fair share.

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Oh the ole fair share. They never say what a fair share is?

Who gets to decide that?

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The problem is that the money collected through FICA doesn’t go into a designated fund for SS. It goes into a big pot that the politicians can steal from and use to buy votes through other programs. Social Security should have been set up like a 401K where each person that contributed got their own personal account.

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Yes, I know that. Sanders and Warren want to tack on another 12.4% tax on investment income. They know that few reach that income level in retirement. For my wife and I this would double or SS income. But we give it all back in the tax. So my addition tax would be essentially be similar to my increase early on. Over time as the RMD gets larger, I would pay an increasing amount of tax. But those on the lower end would have more "security" without the tax. Without looking at hard numbers, this would not kill me. And I wouldn't have to listen to the youth of America bitch about it.
I'm surprising no Republican looked at this seriously.
Next, Sanders will tell me what my new Federal tax brackets will look like.