How has he or does he AUDIT anything, without AUDITORS?
Should Elon Musk Audit Social Security?
- Thread starter Marshal Matt Dillon
- Start date
WorldWatcher
Platinum Member
As a Republican receiving a SS retirement check do you support President Trumps plan to partially defund SSI (Supplemental Security Income - which is what pays retirees Social Security retirement benefits)?
WW
WorldWatcher
Platinum Member
He doesn't need auditors. He's got one of his 19 year old programmers called Mr. Big Balls on the job.
WW
/----/ And what Orange Man Bad website did you get that misinformation from? Got a link?
WorldWatcher
Platinum Member
Sure. Since when is Fox News an āorange man badā web site?
Income Taxes on Social Security Benefits are returned to the Social Security Administration (SSA) to help fund current beneficiaries.
If you remove the Income Tax on Social Security Benefits that reduces funding to the SSA meaning to pay current benefits more money is drawn from the Trust Fund to pay those benefits. In other words an elimination of Income Tax on SS benefits partially defunds the SSA.
That partial defunding of the SSA means the Trust Fund gets exhausted earlier. Once the Trust Fund is exhausted, benefit payments will be reduced by 20-25% to match current revenues.
Two links below show this. Edit with 3rd link.
Income taxes on benefits return about $50 Billion per year to the SSA.
WW
Trump spells out tax plan for House GOP leaders in White House meeting
President Trump laid out the important tax provisions that he wants accomplished this year by Congress in a meeting on Thursday.
www.foxnews.com
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/----/ "That partial defunding of the SSA means the Trust Fund gets exhausted earlier. Once the Trust Fund is exhausted, benefit payments will be reduced by 20-25% to match current revenues."Sure. Since when is Fox News an āorange man badā web site?
Income Taxes on Social Security Benefits are returned to the Social Security Administration (SSA) to help fund current beneficiaries.
If you remove the Income Tax on Social Security Benefits that reduces funding to the SSA meaning to pay current benefits more money is drawn from the Trust Fund to pay those benefits. In other words an elimination of Income Tax on SS benefits partially defunds the SSA.
That partial defunding of the SSA means the Trust Fund gets exhausted earlier. Once the Trust Fund is exhausted, benefit payments will be reduced by 20-25% to match current revenues.
Two links below show this. Edit with 3rd link.
Income taxes on benefits return about $50 Billion per year to the SSA.
WW
.Trump spells out tax plan for House GOP leaders in White House meeting
President Trump laid out the important tax provisions that he wants accomplished this year by Congress in a meeting on Thursday.
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Neither of those two sites makes that claim. It's just more of the Left's scare the old people.
WorldWatcher
Platinum Member
Go lookup the trustee report on the status of the fund. Iām out of the house on my phone so not willing to go to the effort to pull it up and spoon feed you.
You really donāt know how SS is funded or what the reports are?
Iāll be happy to help you later but you now have the pieces. Check it out.
WW
/----/ "You really donāt know how SS is funded or what the reports are?"
Of course I do. I paid in to SS for 50 years until I retired. I know how $ is collected, taxed, and about the two trust funds.
You're just hell bent on pushing a false narrative, something democRATs are famous for.
WorldWatcher
Platinum Member
How is it a false narrative that if funding revenue is removed, that the Trust Fund will be hastened earlier?
Itās basic logic.
WW
/ā-/ Savings from eliminating fraud, waste, and better investment options. Itās basic logic.
Moonglow
Diamond Member
Why are Republicans so hateful about the subject?
/ā-/ Thatās just your paranoia.
- Apr 11, 2023
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If you qualify for it, that's it.
That's the recipient's business.
If he is spending his money on meth, that's the cop's business not Musk's.
That's the recipient's business.
If he is spending his money on meth, that's the cop's business not Musk's.
Moonglow
Diamond Member
No, it is my observation. Yer paranoia tells you that voting for a convicted criminal was a great idea.
/āā/ A convicted criminal is better than a jackass.
Moonglow
Diamond Member
Not it isn't, just because you compromise with lowered expectations doesn't mean we all dood it.
task0778
Diamond Member
Should Elon Musk Audit Social Security?
Somebody should. I have no doubt that the SSA is rife with FWA.
Seniors who earn less than $25,000 per year (or $32,000 for married couples) of combined income (adjusted gross income, nontaxable interest and half of their Social Security benefits) do not pay taxes on their Social Security benefits.
Based on SSA data, about 27 million beneficiaries pay income taxes on their monthly benefits. These are people who generally receive other substantial income in addition to their benefits, meaning that wealthier retirees will benefit from Trump's proposed tax cuts.
Taxpayers filing individual tax returns may have to pay income tax on up to 50 percent of their Social Security benefits if their combined income is between $25,000 and $34,000, according to the SSA. If it is more than $34,000, beneficiaries may have to pay up to 85 percent of their Social Security checks in taxes.
These taxes represent a significant source of revenue for the program. While 95.1 percent of Social Security's funding came from dedicated tax revenues in 2023, 3.8 percent came from the federal income taxes that some beneficiaries pay on a portion of their benefits.
Social Security boost proposed for millions of Americans
Eliminating taxes on Social Security benefits for U.S. seniors is on Trump's agenda, press secretary Karoline Leavitt said.
www.newsweek.com
IMHO, people in the upper income brackets oughta be taxed on their SSA benefits to claw back at least some of that money. One can argue about where the line should be and how much they should be taxed, and I'm okay with that. But let's be honest here, SSA is going to have to be addressed at some point in less than 10 years and speeding up that date. As a retiree myself, I do not have a problem paying income taxes on my SSA benefits. I just wish the gov't was a little more circumspect when it comes to spending my taxdollars.
WorldWatcher
Platinum Member
I fully support eliminating fraud waste and abuse. There has been no indication this is occurring with social security retirement.
Second, excess funds in the trust are by law invested in special US Treasury bonds. Didnāt you know that?
So where are the indictments for all grid fraud in SS retirement benefits?
Where is the legislation to change investments of the SS Trust Fund?
What real difference does it make where the trust fund is invested I if the trust fund is deleted as there will be no funds to invest?
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Come on man, think beyond the bumper sticker.
WW
/ā-/ Itās being uncovered as we speakāā and 2,000 times more that Commie Harris and Joe uncovered in four years.
Sorry DOGE isnāt cleaning up democRATs mess fast enough for you.
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