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Author: United States. National Commission on Social Security Reform
Publisher:
ISBN:
Category : Disability insurance
Languages : en
Pages : 298
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Book Description
Author: United States. National Commission on Social Security Reform
Publisher:
ISBN:
Category : Disability insurance
Languages : en
Pages : 298
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Book Description
Author: United States. Congress. House. Committee on Ways and Means. Subcommittee on Social Security
Publisher:
ISBN:
Category : Social security
Languages : en
Pages : 88
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Book Description
Author: Allen W. Smith
Publisher: Ironwood Publications (FL)
ISBN: 9780990303664
Category : Political Science
Languages : en
Pages : 184
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Book Description
The money's gone! Social Security doesn't have $2.7 trillion stashed away for paying benefits, as so many people believe. It cannot pay benefits for another 20 years, as is often claimed. In fact, Social Security does not have enough money to pay full benefits, even for 2014, without borrowing money from China or another of our creditors. How can this be? Wasn't Social Security fixed by the Social Security Amendments of 1983, which included a large increase in payroll taxes? That's what we were told at the time. President Reagan signed that legislation into law with great fanfare on April 20, 1983. With his comments at the signing ceremony, Reagan gave the impression that it was a proud day for America. But, instead of being a proud day for America, as Reagan implied, the day the new legislation was signed into law, turned out to be a day of shame for the United States. The Social Security Amendments of 1983 laid the foundation for 30 years of government embezzlement of Social Security funds. The money was used to pay for wars, tax cuts for the rich, and other government programs. The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue. This surplus revenue was supposed to be saved and invested in marketable U.S. Treasury bonds, which would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that money ever made its way to the Social Security trust fund. The 1983 legislation was sold to the public, and to Congress, as a long-term fix for Social Security. With the help of Alan Greenspan, Reagan was a super salesman, who could have sold almost anything to the public-even a scam. And that's exactly what he was selling. Reagan intended to use the surplus Social Security revenue to replace revenue lost because of his unaffordable income tax cuts. Instead of being set aside for the retirement of the baby boomers, as was the intent of the legislation, the extra Social Security revenue was deposited directly into the general fund just like income tax revenue. From the very beginning, Reagan and his advisors had no intention of saving and investing the new revenue for the retirement of the baby boomers. They needed additional general tax revenue, and an increase in the payroll tax would be much easier to enact than higher income taxes. Also, the potential to get vast amounts of revenue was much greater with a payroll tax increase than from an income tax increase. The baby boomers, the largest generation of Americans who ever lived, were already making large contributions to the Social Security fund. Like all previous generations, prior to 1983, the boomers were being required to pay the full cost of benefits paid to the previous generation. But, the proposed new legislation would hit the boomers with a double whammy. In addition to paying for their parents' benefits, the new law would require the baby boomers to also pay enough additional taxes to prepay the cost of their own benefits. This would generate a potential gold mine of surplus revenue that could be tapped and used for other purposes. But none of the $2.7 trillion in additional Social Security revenue was ever saved or invested in anything. The actual surplus money was replaced with nonmarketable government IOUs, which cannot be converted into cash or used to pay Social Security benefits. It would have been bad enough if only Reagan had looted Social Security money. But George H.W. Bush, Bill Clinton, and George W. Bush all followed in Reagan's footsteps and spent all of the Social Security surplus revenue for non-Social Security purposes, just like Reagan. This book is a must read for all who care about the future of Social Security and the integrity of their government.
Author: United States. Congress. Pepper Commission
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 30
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Author: United States. Congress. House. Committee on Ways and Means
Publisher:
ISBN:
Category : Social security
Languages : en
Pages : 28
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Author: United States
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 1506
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Book Description
"The United States Code is the official codification of the general and permanent laws of the United States of America. The Code was first published in 1926, and a new edition of the code has been published every six years since 1934. The 2012 edition of the Code incorporates laws enacted through the One Hundred Twelfth Congress, Second Session, the last of which was signed by the President on January 15, 2013. It does not include laws of the One Hundred Thirteenth Congress, First Session, enacted between January 2, 2013, the date it convened, and January 15, 2013. By statutory authority this edition may be cited "U.S.C. 2012 ed." As adopted in 1926, the Code established prima facie the general and permanent laws of the United States. The underlying statutes reprinted in the Code remained in effect and controlled over the Code in case of any discrepancy. In 1947, Congress began enacting individual titles of the Code into positive law. When a title is enacted into positive law, the underlying statutes are repealed and the title then becomes legal evidence of the law. Currently, 26 of the 51 titles in the Code have been so enacted. These are identified in the table of titles near the beginning of each volume. The Law Revision Counsel of the House of Representatives continues to prepare legislation pursuant to 2 U.S.C. 285b to enact the remainder of the Code, on a title-by-title basis, into positive law. The 2012 edition of the Code was prepared and published under the supervision of Ralph V. Seep, Law Revision Counsel. Grateful acknowledgment is made of the contributions by all who helped in this work, particularly the staffs of the Office of the Law Revision Counsel and the Government Printing Office"--Preface.
Author: United States. Congress. Senate. Committee on Finance
Publisher:
ISBN:
Category : Social security
Languages : en
Pages : 80
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Author: Larry W. DeWitt
Publisher: CQ Press
ISBN:
Category : Political Science
Languages : en
Pages : 584
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Book Description
A Documentary History tells the story of the creation and development of the U.S. Social Security program through primary source documents, from its antecendents and founding in 1935, to the controversial issues of the present. This unique reference presents the complex history of Social Security in an accessible volume that highlights the program's major moments and events.
Author: Peter A. Corning
Publisher:
ISBN:
Category : Health insurance
Languages : en
Pages : 172
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Book Description
Author: Rick Mayes
Publisher: JHU Press
ISBN: 0801888875
Category : Medical
Languages : en
Pages : 274
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Book Description
This is the definitive work on Medicare’s prospective payment system (PPS), which had its origins in the 1972 Social Security Amendments, was first applied to hospitals in 1983, and came to fruition with the Balanced Budget Act of 1997. Here, Rick Mayes and Robert A. Berenson, M.D., explain how Medicare’s innovative payment system triggered shifts in power away from the providers (hospitals and doctors) to the payers (government insurers and employers) and how providers have responded to encroachments on their professional and financial autonomy. They conclude with a discussion of the problems with the Medicare Modernization Act of 2003 and offer prescriptions for how policy makers can use Medicare payment policy to drive improvements in the U.S. health care system. Mayes and Berenson draw from interviews with more than sixty-five major policy makers—including former Treasury secretary Robert Rubin, U.S. Representatives Pete Stark and Henry Waxman, former White House chief of staff Leon Panetta, and former administrators of the Health Care Financing Administration Gail Wilensky, Bruce Vladeck, Nancy-Ann DeParle, and Tom Scully—to explore how this payment system worked and its significant effects on the U.S. medical landscape in the past twenty years. They argue that, although managed care was an important agent of change in the 1990s, the private sector has not been the major health care innovator in the United States; rather, Medicare’s transition to PPS both initiated and repeatedly intensified the economic restructuring of the U.S. health care system.
