Tag: social security

Finally, a fix for Social Security and Medicare?

I’ll believe it when it happens, but amidst all the partisan bitterness handcuffing Washington, there might be some progress. A bipartisan bill, the TRUST Act (S.2733) doesn’t lay out a specific plan to preserve the endangered Medicare, Social Security and other federal trust funds from drying up. But if passed, it would force a long-delayed, bipartisan... Read more »

It's time to tax Illinois retirement income

Here’s one reform that could ease Illinois’ fiscal troubles: Tax retirement income. Illinois exempts from taxation all retirement income, including Social Security, an astonishing fact, considering the state’s ruinous fiscal health. Only two other states, Mississippi and Pennsylvania, are as blindly generous. Most other states tax a portion or all of retirement income, including public... Read more »

Illinois should tax retirement income

Republican governor candidate Bruce Rauner created headlines on Friday when he said in a debate that he wouldn’t rule out taxing retirement income as part of an overhaul of Illinois’ tax system. He said he doesn’t have a position on that right now, but he should. And that position–as with all other candidates–is that all... Read more »
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How glad I am that I'm too old to be starting a family.

Today’s young couples are facing impossible financial expectations and demands. I was reminded of that when a friend told me that her son’s college education was costing $54,000 — a year. That’s more than I spent some 20 years ago for my two children’s entire college educations. I can only shudder when I think what... Read more »

Schakowsky and her flunkies don't speak for this senior.

A breathless e-press release arrived today announcing: REP. SCHAKOWSKY, SENIOR ADVOCATES CALL ON SUPER COMMITTEE TO DEFEND MEDICARE Protect Social Security, Medicare and Medicaid in Debt Negotiations  It runs on to proclaim: [Today] Rep. Jan Schakowsky (D-IL) will join Latinos for a Secure Retirement (LSR) and the Illinois Alliance for Retired Americans on a press... Read more »

Bi-partisan pain: Raise social security retirement age to 70?

Steny H. Hoyer Such bi-partisanship is exceedingly rare, but it has to happen. Two House leaders, Majority Leader Steny H. Hoyer, Maryland Democrat, and Minority Leader John A. Boehner, Ohio Republican, have indicated that avoiding a social security financial meltdown will require some painful cuts in benefits. High on the list is raising the retirement age for payments,... Read more »
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Alan Simpson nails MoveOn.org

The ultra-left mob, gathered under the banner of MoveOn.org, apparently thinks that it has nailed former Sen. Alan Simpson with a tap (below) of him calling social security recipients “lesser people.” Simpson, co-chairman of a budget commission examining ways to reduce the deficit, was stopped by a MoveOn person (I assume) and questioned about the... Read more »

Rich, retired Illinois state cops

Here is an eye-opening comparison of the salaries and retirement benefits granted to Illinois state police, compared with private sector retirees who “get” to live off their “generous” social security retirement benefits. The study was done by National Taxpayers of Illinois United. Yes, we should reward the police who put their lives on the line... Read more »

Should we raise the retirement age?

When Social Security was created, life expectancy was lower than the retirement age of 65, Now, are life expectancy has zoomed past the Social Security retirement age of 67?  So, considering the financial crisis that Social Security soon will encounter, the pressing question is should we raise retirement age?  For discussion purposes, the Centers for... Read more »
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Battling the bulge: Here's where to slash the budget

Two weeks ago I suggested that climbing out of our financial sinkhole requires us to fundamentally downsize our expectations of what we can milk from government (“Champagne taste with a beer budget”). Reader Dienne posted a complaint: “I’m sorry, Mr. Byrne, perhaps I missed it, but I didn’t see a solution in this column —... Read more »
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