Did Congress steal $83 billion in interest income from Social Security?
Sep 09, 2011 · "There are entire groups and entire organizations of people that are dedicated to nothing but committing fraud, finding a better way to steal from Medicare." Rep. Stearns thinks the root of the problem lies in the easy-to-manipulate design of Medicare's payment system. "Medicare is a fee-for-service program," he tells me.
What is the government doing to steal from US?
Jan 06, 2022 · The government pays the patient’s bills. There are a lot of people disabled by psychological or neurological disorders and conditions so they receive Medicaid and sometimes Medicare as well. There’s much more: It’s common for these house managers or owners to keep the credit cards of the people in these homes.
Why was Social Security taken out of the federal budget?
Dec 01, 2019 · What Medicare Recipients Need to Know. Medicare, as a rule, does not cover long-term care settings. So, Medicare in general presents no challenge to your clear home title. Most people in care settings pay for care themselves. After a while, some deplete their liquid assets and qualify for Medicaid assistance.
Is the federal government paying interest on social security?
Mar 30, 2016 · Stealing from the government used to be a crime. We called it “fraud.” There were all sorts of ways people defrauded the government. They took advantage of welfare benefits, tax and securities regulations, health care entitlements, and a …
What is the report of the Inspector General?
The Treasury Inspector General Report “Individuals Who Are Not Authorized to Work in the United States Were Paid $4.2 Billion in Refundable Credits” alerted taxpayers to a problem that simmers while Congress bickers over amnesty.
Is bureaucracy hard to police?
An enormous bureaucracy is a hard thing to police. The more people with questionable identities we have to worry about the harder it is to stop the theft of our money.
Who is Maurie Backman?
Sep 26, 2020 at 1:03PM. Author Bio. Maurie Backman is a personal finance writer who's passionate about educating others. Her goal is to make financial topics interesting (because they often aren't) and she believes that a healthy dose of sarcasm never hurt anyone.
Can seniors afford prescription drugs?
In fact, a Gallup poll released last year revealed that an estimated 7.5 million seniors can't afford their prescription drugs. Any amount of money toward medication could thus be a lifeline.
How much is Social Security shortfall?
According to the latest report from the Social Security Board of Trustees, Social Security is staring down a $13.9 trillion cash shortfall between 2035 and 2093, with the expectation that its $2.9 trillion in asset reserves will be completely exhausted in ...
When did the federal budget change?
This idea goes all the way back to 1968, when then-President Lyndon B. Johnson made a change to how the federal budget would be presented. Prior to 1974, before Congress had an independent budgeting process, the President's Commission on Budget Concepts had three separate budgets, all of which had differing deficits.
Is Social Security going bankrupt?
On one hand, there is solace in knowing that Social Security isn't going bankrupt, which is a function of two of the program's revenue sources being recurring (the payroll tax on earned income and the taxation of benefits). On the other hand, there's no sugarcoating the worry that would follow if benefit cuts of up to 23% are passed along ...
Why are 401(k) plans created?
These retirement plans maintain a special tax status and were created for a specific reason: to entice more people to save on their own because Social Security benefits do not pay enough for most retirees.
Who is Ryan Guina?
Ryan Guina is the founder and editor of Cash Money Life. He is a writer, small business owner, and entrepreneur. He served over 6 years on active duty in the USAF and is a current member of the IL Air National Guard.
Is retirement good for you?
Retirement plans are good. They provide retirees with a source of income and in many cases help keep people off government benefits. For example, Medicaid eligibility is age and income based, starting at age 65. Social Security benefits are also taxable for retirees who meet a certain income threshold. So retirees receiving enough income ...
Is a Roth IRA a 401k?
Roth IRAs and 401ks are the opposite, with the contributions being made after taxes have been assessed, and the withdrawals and income growth being tax-free. These tax benefits are the reason there are contribution limits on IRAs and other retirement plans.
Can the government seize private property?
It is very difficult for the government to seize private property at will. The government can and does, seize private property, but only in rare cases and through a legal process called eminent domain, which is when land or other property is seized “for the greater good.”. However, the government is required to pay fair market value ...