By Joseph Fried
3 proposals for private Retirement money owed have been placed forth by way of the Committee to bolster Social protection, appointed via President Bush. This ebook offers an in depth and candid overview of these proposals - differentiating the nice from the undesirable. furthermore, How Social safety choices Your Pocket exposes how Social safeguard is applied - who wins, who loses, and the way the sport is performed; and gives feedback for advancements to the process. Issue-by-issue, the e-book provides a guided travel of a approach of excellent waste and blatant inequities. You’ll learn the way standard retirees are robbed of advantages – advantages which are redirected to wealthier, non-paying beneficiaries. You’ll find out about the hundreds of thousands of people that pay lip-service to Social safeguard – yet pay not anything else. They don’t perform the approach defined as their "worst nightmare." The travel incorporates a stopover at with the lecturers who develop into janitors for only one day, to qualify for $100,000 in Social safeguard advantages – every one. The booklet additionally stories the superb one hundred fifteen% tax, inflicted on operating seniors. certain, those humans can successfully pay extra in tax than they earn. The journey additionally comprises the turning out to be incapacity courses. Are you a hypochondriac? stable! you simply could qualify for incapacity advantages. (Check out part 12.07 of the Social defense "Blue Book.") were you aware that one 3rd of all staff getting incapacity advantages declare to have a psychological impairment? Are you up at the most up-to-date dressmaker illnesses? And, did you recognize that just one in each disabled employees recovers and returns to paintings – regardless of our miracle treatments, know-how, and "reasonable accommodations"? You’ll desire your "hard hat" while traveling Supplemental safeguard source of revenue (SSI), that's a welfare software run by way of Social protection. It’s been categorized through the GAO as "high threat" because of its behavior of paying advantages first, and asking questions later (or never). SSI has its own incapacity software, and will be within the Guinness e-book for as soon as paying advantages to 181 participants of 1 kinfolk – concurrently. during this software, greater than sixty percentage of disabled beneficiaries are paid for claimed psychological impairments. Be prompt that the travel contains a few unsavory neighborhoods, rife with crime and corruption. there's a dialogue of the various schemes and scams used to scam the approach, and the hot and dangerous developments at the horizon. The Social safeguard management claims that it can’t estimate the volume of fraud in its courses. This publication demanding situations that declare. after all, what Social safety travel will be entire with no dialogue of insolvency, the belief fund, and private Retirement bills (PRAs)? Is this system particularly broke? could PRAs aid, or harm? You’ll get the lowdown on those concerns, plus insights right into a nice replacement plan that has been serving retirees longer than Social safety, here in the United States. evaluating some great benefits of this replacement plan to these of Social protection is an enlightening, if sobering, adventure. the ultimate cease at the travel is the author's dream plan for Social safety. It’s a bit diversified than the other inspiration. Is it "Shangri-La" or Sham-ri-La? That’s that you can come to a decision.
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Extra info for How Social Security Picks Your Pocket: A Story of Waste, Fraud, and Inequities
Html. 14 Chapter II: Party Time on the Titanic affecting Social Security include collecting SSI while in prison, on the lam, or out of the country; stealing or fabricating identities (to get benefits), and collecting retirement benefits for those who don’t exist. , issuing a check to the wrong retiree), it claims that it can’t estimate the amount of fraud in its programs. However, Social Security fraud can be estimated by using the same methods employed by private plans and the public systems of other countries.
I deliberately brushed by the calculation of this $14 billion amount, in case you are reading this book while operating heavy equipment. The calculation is a bit long, so it is explained in a separate note in Appendix A. However, let me describe, in general terms, part of the information used to make the estimate. S. 24 Within this study is a table showing how much non-Social Security income is available to retirees, age 65 or older. The table classifies retirees into 5 levels (quintiles) based on their Social Security 24.
A) Income from spouse Apparently, Social Security believes that need should be measured at the individual, versus family, level. As a result, the program gives extra benefits to individuals with low wages, even if those “poor” retirees have high-earning spouses. Does this make sense? If a man earns $5,000 per year, but is married to Madonna, he might need our sympathy, but does he need our financial assistance? Is it fair to give him extra benefits (that he never paid for) at the expense of others on Social Security?
How Social Security Picks Your Pocket: A Story of Waste, Fraud, and Inequities by Joseph Fried