Latest / Challenges of Faith Radio Program / Say What # 34: So what is going on with SS?-Ep 2797

Transcript

Say What # 34: So what is going on with SS?-Ep 2797 · Challenges of Faith Radio Program

• 0:02
  Speaker 1: Welcome back to Johnson is to say pretty program, I
• 0:05
  Speaker 1: am curiod to Cans. I'm gonna say what number thirty four?
• 0:10
  Speaker 1: So what's going on with social security? Episode two thousand,
• 0:16
  Speaker 1: seven hundred and ninety seven like technology guy and you
• 0:22
  Speaker 1: are listeners and the new ones in Netherlands to Abolia,
• 0:26
  Speaker 1: EXQR Mexico. So the question that you can begin did
• 0:33
  Speaker 1: which Chyle?
• 0:33
  Speaker 2: When did sobial security start?
• 0:35
  Speaker 1: Do you know?
• 0:37
  Speaker 2: Now?
• 0:37
  Speaker 1: I know you're going to do an independent research is
• 0:39
  Speaker 1: always important, especially if we have entered twenty twenty five.
• 0:45
  Speaker 1: The Social Security Act was signed by President FDR on
• 0:50
  Speaker 1: August fourteenth, nineteen thirty five. Taxes were to collect for
• 0:56
  Speaker 1: the first time in January nineteen thirty seven in the
• 0:59
  Speaker 1: first one time LONGSOM payments were made that same month.
• 1:05
  Speaker 2: Regular ongoing month.
• 1:07
  Speaker 1: The benefits started in January nineteen forty So what is
• 1:14
  Speaker 1: the origin of the term social security? The term was
• 1:19
  Speaker 1: first used in the United States by Abraham Epstein in
• 1:23
  Speaker 1: connection with his group, the American Association for Social Security. Originally,
• 1:30
  Speaker 1: the SOBI Security Act that nineteen thirty five named the
• 1:33
  Speaker 1: Economic Security Act, but this title was changed during the
• 1:37
  Speaker 1: international consideration of the bill. When did Medicare Start Medicare
• 1:45
  Speaker 1: was passing the law on July thirty, nineteen sixty five,
• 1:50
  Speaker 1: but beneficiary was first able to sign up for the
• 1:52
  Speaker 1: program when July the first, nineteen sixty six. And the
• 1:58
  Speaker 1: question is is it true? The subsecurity was originally just
• 2:01
  Speaker 1: a retirement program.
• 2:03
  Speaker 2: Yes. Under the nineteen thirty five law, what we now
• 2:07
  Speaker 2: think of as.
• 2:08
  Speaker 1: Social security only paid retirement benefits to the primary worker.
• 2:15
  Speaker 2: In nineteen thirty nine, change in the.
• 2:18
  Speaker 1: Law at its survivors benefits and benefits for the retirement
• 2:22
  Speaker 1: spouse and children. In nineteen fifty six, it's ability benefits
• 2:28
  Speaker 1: were at it. Keep in mind, however, that's a social
• 2:31
  Speaker 1: Security at itself was much broader than just a program
• 2:36
  Speaker 1: which today would commonly described as social security. The original
• 2:41
  Speaker 1: nineteen thirty five law contained the first National Unemployment Conversation Program,
• 2:48
  Speaker 1: aid to the states for various health and welfare programs,
• 2:52
  Speaker 1: and the aide to defend the Children program. All members
• 2:58
  Speaker 1: of Congress, the President and Vice President, several judges, and
• 3:02
  Speaker 1: most political appointees were covered under the Social Security program
• 3:07
  Speaker 1: starting in January nineteen eighty four. They pay into the
• 3:12
  Speaker 1: systems is like everybody else. That's all members of Congress,
• 3:16
  Speaker 1: no matter how long they've been in office and been
• 3:18
  Speaker 1: paying into the Social Security system since January nineteen eighty four?
• 3:28
  Speaker 1: Did you know that seventy one point six million people
• 3:32
  Speaker 1: received benefics from programs administered by the Social Security Administration
• 3:37
  Speaker 1: in twenty twenty three?
• 3:39
  Speaker 2: Even mine now? In twenty twenty five? Say what? Five
• 3:44
  Speaker 2: point eight.
• 3:44
  Speaker 1: Million people were newly awarded Social Security benefits in twenty
• 3:48
  Speaker 1: twenty three.
• 3:51
  Speaker 2: Fifty five percent.
• 3:52
  Speaker 1: Of a double Social Security beneficiary in twenty twenty three
• 3:56
  Speaker 1: were women. Fifty five point nine was average age of
• 4:01
  Speaker 1: disable worker beneficiaries in twenty twenty three. Eighty five percent
• 4:07
  Speaker 1: of Supplemental Security Income SSI recipients received payments because the
• 4:14
  Speaker 1: disability of beligning us in twenty twenty three? Did you
• 4:22
  Speaker 1: know that three crucial changes are going to social securities
• 4:28
  Speaker 1: this year that all Americans must know about?
• 4:34
  Speaker 2: Say what?
• 4:37
  Speaker 1: Social Security will see three major changes this year, and
• 4:40
  Speaker 1: not all of them are beneficial to Americans. The program
• 4:45
  Speaker 1: is Encompassent Retirement Medicare disability benefice caused the government one
• 4:49
  Speaker 1: point five.
• 4:50
  Speaker 2: Trillion a year. Say what, you don't mind me doing
• 4:55
  Speaker 2: the sidebard? Do you like?
• 4:57
  Speaker 1: So all that money they've been sending elsewhere and else
• 5:00
  Speaker 1: for AE elsewherevenue only you know had that have been
• 5:04
  Speaker 1: going into helping the seniors, the elderly, the disabled. On
• 5:14
  Speaker 1: Social Security, I'm just asking it's also under pressure to
• 5:19
  Speaker 1: reform as the end of the build for his sixty
• 5:21
  Speaker 1: eight million, resistance is rising faster than the income sustaining it.
• 5:28
  Speaker 2: In fact, it reached.
• 5:29
  Speaker 1: Reports states that without change, social Security will running out
• 5:31
  Speaker 1: of money by.
• 5:32
  Speaker 2: Twenty thirty five.
• 5:34
  Speaker 1: We just turned to twenty twenty five, since ten years
• 5:37
  Speaker 1: from now, while major overhauls aren't expected this year, so
• 5:42
  Speaker 1: we're justine for impact then that they're current and future
• 5:45
  Speaker 1: recipients one.
• 5:48
  Speaker 2: Because they're living.
• 5:49
  Speaker 1: Adjustment the Social Security Administration raising is the amount Social
• 5:53
  Speaker 1: Security check our work every year to stop in placing
• 5:56
  Speaker 1: eating away of their purchase in power. This is known
• 6:00
  Speaker 1: as the cost of living Adjustment COLO, and this year
• 6:04
  Speaker 1: it had boosts is checked by two.
• 6:06
  Speaker 2: Point five percent.
• 6:08
  Speaker 1: The colon rise depends on inflats of meaning the increase
• 6:11
  Speaker 1: baries from year to year. The Social Security uses a
• 6:15
  Speaker 1: consumer price index for urban wage earners and clerical workers
• 6:21
  Speaker 1: to calculate its adjustments each year, and inflation is cool.
• 6:26
  Speaker 1: This year's increase there's the lowest in twenty twenty one,
• 6:30
  Speaker 1: with an average increase of forty nine dollars of mock.
• 6:35
  Speaker 1: The colat will benefit those sixty two or older, whether
• 6:39
  Speaker 1: or not they have begun receiving benefits.
• 6:43
  Speaker 2: Those collection checks will see an immediate boosts.
• 6:46
  Speaker 1: Those who have not yet will see their benefit rise
• 6:49
  Speaker 1: by two point five percent in addition to the raids
• 6:53
  Speaker 1: they are given with delayed retirement if they're still younger
• 6:57
  Speaker 1: than seventy. Number two, high earners will pay more in
• 7:03
  Speaker 1: Social Security tax. The government caps how much of wages
• 7:07
  Speaker 1: are subject to Social Security tax. This' rises every year
• 7:11
  Speaker 1: because of inflation and rising wages, and only effect high earners.
• 7:16
  Speaker 2: They're earning the liment rows and one hundred and seventy
• 7:19
  Speaker 2: six thousand.
• 7:19
  Speaker 1: And one hundred this year, up from one hundred and
• 7:22
  Speaker 1: sixty eight thousand, six hundred and twenty twenty four.
• 7:27
  Speaker 2: If you turn over the limit and received such security.
• 7:29
  Speaker 1: In an additional four hundred and sixty five dollars will
• 7:33
  Speaker 1: be with help from your total benefits this year, which
• 7:36
  Speaker 1: is about seventeen dollars an eighty eight cent per bi
• 7:40
  Speaker 1: weekly checked Number three, You can earn more without reducing
• 7:45
  Speaker 1: your benefits.
• 7:46
  Speaker 2: Say what The Social Security earnings test is applies to.
• 7:51
  Speaker 1: Anyone that call that benefits before reaching afore retirement age.
• 7:56
  Speaker 1: In twenty twenty four, the limit was twenty two, three
• 8:00
  Speaker 1: hundred and twenty dollars before any reduction and benefits, but
• 8:05
  Speaker 1: this has now visited to twenty three thousand, four hundred
• 8:07
  Speaker 1: dollars for twenty twenty five. If that level is exceeded,
• 8:13
  Speaker 1: one dollar of benefice was held from the benefits for
• 8:16
  Speaker 1: every two dollars in accepts of the threshold.
• 8:21
  Speaker 2: The thresholder is higher during the year you reach.
• 8:23
  Speaker 1: Full retirement age, rising to sixty hundred and sixty dollars
• 8:29
  Speaker 1: from fifty nine thousand, five hundred and twenty last year.
• 8:35
  Speaker 2: Reduced payment doesn't mean the money has gone forever, however,
• 8:39
  Speaker 2: say what.
• 8:41
  Speaker 1: It will be recouped upon full retirement age. When the
• 8:45
  Speaker 1: administration is just the benefit to account for the four
• 8:49
  Speaker 1: gone penns, Say what again? I wonder if all that
• 8:59
  Speaker 1: money whatever over that money that's gone.
• 9:01
  Speaker 2: To that your government has spend.
• 9:05
  Speaker 1: Sent giving away would.
• 9:11
  Speaker 2: Have helped social security.
• 9:16
  Speaker 1: Challenges of Faith Radio has made the following top listener
• 9:19
  Speaker 1: chart in January eighty, twenty twenty five on the good
• 9:24
  Speaker 1: pots be advice Spotify and number twenty two in the
• 9:27
  Speaker 1: top one hundred author all time of chart, number thirty
• 9:34
  Speaker 1: two in the top.
• 9:34
  Speaker 2: One hundred of God all time.
• 9:37
  Speaker 1: Sharp and speaking of seniors and elderly and older, do
• 9:45
  Speaker 1: you happen to know what the scripture says about great here?
• 9:48
  Speaker 2: Don't we look at your hair? Now? You know you're
• 9:51
  Speaker 2: in the mirror every day. Gray hair is often seen
• 9:55
  Speaker 2: as a sign of the age. And but again, what
• 9:57
  Speaker 2: does the viber say about it?
• 9:59
  Speaker 1: The script you're mentioning the gray hair as the symbol
• 10:01
  Speaker 1: of wisdom, honor, and of life well lived.
• 10:04
  Speaker 2: Say what?
• 10:06
  Speaker 1: In properb chapter sixteen, verse thirty one, great hair is
• 10:11
  Speaker 1: a crown of splendor.
• 10:13
  Speaker 2: It is attained in the way of rising.
• 10:14
  Speaker 1: And then you're sure you entertained because worrying and being
• 10:18
  Speaker 1: stressed out, and you're not even know. Isaiah chapter forty six,
• 10:27
  Speaker 1: verse four says, even to your old age and great hairs,
• 10:33
  Speaker 1: I am he, I am here who will sustain you.
• 10:37
  Speaker 2: I haven't made you, and I will carry you, and.
• 10:41
  Speaker 1: I will sustain you, and I will rescue you.
• 10:48
  Speaker 2: Did you know about that? Say what? Now you know