@RepDebDingell @SandraJNowakow1 A deeper dive on the tweet of Rep Dingell. Every employee contributes 6.2% of your salary up to a certain amount. Your employer also contributes 6.2%. This money goes into the Social Security Trust Fund where it is used to pay benefits. It is not part of the general fund (where
@RepDebDingell @SandraJNowakow1 2/ our income taxes go. Medicare is similar but the percentages are lower (1.45% from employer and employee each). Okay so far?
For the last 55 years or so both parties have borrowed money from the Trust Fund and left behind IOUs (government securities). So now the Trust Fund has
For the last 55 years or so both parties have borrowed money from the Trust Fund and left behind IOUs (government securities). So now the Trust Fund has
@RepDebDingell @SandraJNowakow1 3/ a bunch of IOUs and some cash. When #MoscowMitch talks about reducing benefits what he really is saying is that if the benefits are lower the cost to the general fund to redeem the IOUs is a lot less.
Trump has come up with a scam to ruin Social Security. Next week will be
Trump has come up with a scam to ruin Social Security. Next week will be
@RepDebDingell @SandraJNowakow1 4/ the first week that employers are allowed to NOT withhold Social Security benefits and pass the 6.2% on to employees. There are a whole bunch of reasons why employers SHOULD NOT do this but that is for another day.
Mnunchkin has said on national tv that if Trump is re-elected
Mnunchkin has said on national tv that if Trump is re-elected
@RepDebDingell @SandraJNowakow1 5/the Republicans will make the end of “payroll taxes” permanent. By 2023 there will be no more cash left in the Trust Funds without the “payroll taxes.”Mnunchkin claims that Social Security benefits will be paid from the general fund.
Before the pandemic our government is
Before the pandemic our government is
@RepDebDingell @SandraJNowakow1 6/ running a huge deficit annually because of TrumpTax and the magic of tinkle down theory of economics. (sarcasm).Adding payment of Social Security benefits from the general fund without any tax increase will bankrupt America unless, of course, benefits are reduced. Reduction of
@RepDebDingell @SandraJNowakow1 7/ of Social Security benefits is the wet dream of #MoscowMitch and his sycophants. We haven’t heard much from the deficit hawks like Meadows but they are only hibernating.
A vote for Trump is a vote to reduce or end your Social Security benefits. If you are considering a vote
A vote for Trump is a vote to reduce or end your Social Security benefits. If you are considering a vote
@RepDebDingell @SandraJNowakow1 8/ for Trump and rely upon Social Security, brush up your resume because you’ll soon be back in the work force. The end.
