🚨IT'S HAPPENING... The Shocking Plan To Eliminate Social Security Spousal Benefits (SSI, SSDI, SSA)

news has come out and I want to talk to you guys about it uh a lot of people have been asking about social security and uh what our lawmakers and politicians are going to be doing about it and um you know so today is a kind of a crucial update for Social Security you know if you are uh someone who's planning for retirement uh maybe receiving SSI SSDI maybe you know someone who is planning for retirement maybe who's already retired looking to retire early uh there's some information that I'm going to be sharing with you guys in today's video that you're definitely going to want to listen to you're going to want to um probably share with those people um some big changes uh possibly coming down the pipeline and a lot of folks have literally been asking what Joe Biden what Donald Trump is planning to do with Social Security um and obviously this is an election year 2024 there were a lot of promises that Joe Biden made with regard to Social Security the $200 per month monthly Social Security increase a lot of you guys remember that promise that Joe Biden made what back in was it 2020 I think it was yeah 2020 Joe Biden promised basically if you vote for me uh we're going to make sure you get this $200 monthly Social Security increase and if I'm not mistaken that Social Security increase was for all Social Security recipients SSI SSDI uh recipients I don't know about railroad beneficiaries and and um and uh VA beneficiaries but uh if they're eligible for Social Security I don't see why they wouldn't have gotten that but again a lot of people have been asking about this in particular and you know are you likely to get what are you likely to get if you if you have Biden as president or Donald Trump as president so um yeah so let's let's kind of talk about that a little bit um but there's some very these are some very important questions so today we're going to discuss this massive change with Social Security and answer the question are your benefits at risk you know the Republican study of um uh the rec the Republican study committee's shocking proposal has come out and it's asking a lot of people about um are we going to see the end of spousal benefits is it over and so there's this new social security cuts stirring controversy and people are concerned about whether or not spousal benefits are going to be eliminated so um I do want to kind of dive into this with you guys what this is going to mean for high income earners and I also want to touch on the Social Security shakeup the retirement age the retirement benefits all of these things are kind of Under Fire right now um with sweeping Social Security reforms is your retirement plan safe that's the real question right and I think that this question is more relevant now than it probably ever has been so I want to share with you guys some of the details so definitely stay tuned stay with me um you know as we kind of explored some of the major party consensuses on the social security cuts uh some of the details you may have missed um some of the future social security with radical changes that have been proposed by House Republicans so um yeah and and from what I'm hearing they're looking to phase out some benefits period and Point Blank unless they make some radical you know shift um this latest threat to Social Security could very well be one of the biggest overhauls in Social Security reform that we've ever seen so anyway um make sure you guys are subscribed to the Channel please make sure you have your notification Bell turned on uh for future updates there's a lot of significant developments that are coming out uh we got stepen Kyle in here we've got uh Ellen Brennan what's going on Auntie p uh the awakened Susie Watkins uh Ivan Johnson Billy dor Catalia is in the house Clint British gray all right let's get started guys let us get started I and I hope you guys are able to see and hear me okay if you're able to see and hear me just say yes or no and hit the thumbs up for the video totally appreciate you guys you guys are amazing amazing all right so um there's a serious proposal to cut Social Security spousal benefits and I know what you guys are thinking we've already heard from Senator Bernie Sanders he gets he gets upset he starts yelling yelling at Joe Biden uh we've heard from representative John lson about social security increases and now we're talking about social security cuts what happened to the increases what happened to the $200 per month monthly Social Security increases isn't it funny how quiet Joe Biden has been about that over the last three and a half years you know he was he was all for it you know he was cutting those checks remember those stimulus checks he was cutting those checks and um one of his campaign promises among many other things you know Biden omics he was saying how much stronger the economy was going to be is the economy even stronger I mean heck are are we at least do are we at least as good as where we were before he took office or have we slid back I mean rent is higher cost of living is higher uh look at your Cola look at your Social Security cost of living increases your Cola we had um I think we had 88.7% Cola increase one year then it was like 6 point something per. and now it's like you know it's like less than 3% I mean so you got your Cola increases which is a direct in um those are are directly impacted by your rate of inflation so it's like okay do I want a bigger Cola cuz if my Cola increase is bigger that's likely just because we had more inflation that year but then my Social Security check would increase if I got if I got a biger Coler payout so it's like a catch 2022 it's like a catch 2022 no it's like a catch 22 and then they mess around and cut other benefits if your Social Security benefits increase too much A lot of people were complaining that they lost some SNAP benefit uh maybe their medicare payment went up because uh Social Security increased there was a lot of issues right but this one's a little bit different this one um this one isn't coming from the from some random Fringe group this is a significant development right now and I think it's really time that we all pay attention because again presidential year Donald Trump versus President Joe Biden um big changes typically will happen around this time and you know what what I'm going to tell you guys is what you actually need to know so first it's very crucial to um to stay informed of the basically the rhetoric from both sides Democrats Republicans they they're both pushing some kind of agenda right I mean holler if you guys hear me on that right um now regardless of whether these rep these proposals come from the left or the right I want to go ahead and break them down that way you guys have the facts and um you know hopefully you guys are you guys appreciate the truth and if you do definitely hit the Subscribe button hit the hit the like button and all that all right so a few days ago um uh the Republican study committee they released their fiscal year 2025 budget now I want you guys to understand it this is not a small group with some random outlandish ideas right it's a majority within the House Republicans I'm talking like 80% of them of you know 80% of them are like Republican congressmen all right 20% make up you know Democrats and independents now what you see in this budget proposal is essentially the consensus of the Republican party this is very significant because both Republicans and Democrats they're aligning themselves on ideas that are fundamentally going to shift the Social Security program and they call you know they call it an entitlement program program they call it this they call it that I don't see how it's an entitlement program because when I look at my paychecks they're charging me they're taking a social security tax out of my paycheck out of your paycheck you guys are seeing it uh unless you're a you know maybe you're self-employed business owner who um maybe is not set up as a uh as an employee through your own company but most people who have a job they're looking at their paycheck stubs and they they know social SEC Social Security is taking a a big chunk of tax out of their paychecks and so um this is far from being an entitlement program this is a this is social security is basically a mandatory government controlled uh retirement plan so you got your 401ks your IA your investment you know uh accounts and stuff like that um maybe uh you know uh was it uh traditional IRA and Roth IRA you got all those right but they you have social security and you can't not participate in Social Security if you're an employee so if the government doesn't pay you your benefits isn't that theft isn't that theft and a lot of people are saying you are they raiding the Social Security program because they're because of this outof control government spending sending all this money over to the Ukraine and all these other countries Israel um H you know as they battle Hamas and Gaza I mean it's crazy how many people are really just upset so the proposal that we're talking about here today it's suggesting that some people should not receive Social Security benefits or at least not as much as they currently do and I know that this is concerning to hear but there are three main changes proposed in this budget proposal now unfortunately They Don't Really provide a whole lot of details but they do give some very broad ideas that kind of give us a little bit of understanding of their approach so first first they want us they want to raise the full retirement age they want to raise their full retirement age and I forget how I forget how old um uh countries in Europe have pushed out the retirement age but imagine they push the full retirement age to like 75 you know what I mean like is that really fair guys is that fair especially when they promis you a specific retirement age uh early on is it fair for them to push the retirement age back drastically that would mean number one it takes longer for you to retire number two there's no guarantee you make it to that full retirement age and number three that means you're paying more money into the system before you can even get a benefit okay Charlie Charlie wolfrey Jr thank you so much for the $2 Super Chat Charlie says I'm totally disabled and unable to work how many of you guys can relate to Charlie Charlie I appreciate your comment brother I really do um so again so they want to raise the full retirement age that's number one this has received a lot of attention in the media headlines about Republicans raising the retirement age to possibly 69 years old the budget proposal doesn't State this specifically or explicitly um but it only kind of mentions modest adjustments to the account for increased life expectancy that to me sounds like you're going to raise retirement age when you say modest adjustments to account for increased life expectancy you're not going to lower it and you're clearly going to make a change so it's likely going to be increased okay um and so but realistically this probably likely means a gradual increase similar to past changes that we've seen where the retirement age increased by 2 years maybe over a 10 to 20 year period so I'm willing to bet that chances are if you're within so many years of retirement that's probably not going to affect you so that would that would be good news for a lot of retirees the second and the third change is these are a little bit more consequential and these could actually push Social Security closer to a means tested welfare system oh yeah they're using the term welfare as if Social Security is welfare since when is welfare something that you paid into I mean you may as well call it uh an entitlement program like these other guys um and you know we've heard a lot about from John Larson his Social Security 2100 act um that is still out there hasn't made a whole lot of progress but um the uh the Social Security 2100 act uh may actually be better than this to be honest with you um sorry about that just responding to one of these uh comments here uh um but again second and third changes they're more consequential uh we're talking more of a means tested welfare system these changes they actually focus on reducing or possibly even eliminating benefits for high income earners so the this is this is concerning eliminating benefits for what high income earners imagine you're you're you fall in a high income earner category but you're like I'm not high income I'm barely getting by I'm barely scraping by I'm pay check to paycheck who's decide who's to decide who should have their benefits eliminated after they've paid into the system I don't like that so the first way they propose to do this is by changing the benefit formula I know I know it's ridiculous so the details they're unclear right now but the budget proposal it mentions making what they call modest changes to the primary Insurance amount the Pia benefit formula for individuals that are earning more than the wealthiest Pia Factor so in 2024 this threshold was or it is $7,750 per month or about $85,000 a year now it appears that under their plan those who are earning more than this amount would actually see less of a generous benefit okay so they're already cutting benefits around that mark it looks like it looks like um now the biggest change suggested is completely phasing out spousal benefits for high income earners that would mean that the social security system has effectively stolen from you now the they're not going to get my vote on this are they going to get your vote you guys let me know in the comments the this proposal it states it would limit and phase out auxiliary benefits for high income earners meaning both spousal and children's benefits would ultimately be affected spouses and children so the definition of high income earners seems to align with this $85,000 threshold now I'm going be honest with you guys $85,000 does not go very far especially depending upon where you live I don't know about you guys can can can you live on a total household income of $85,000 where you live cuz I know if you live in California if you live in New York if you live in uh many parts of the United States I mean I I I call out California New York uh Florida Florida used to be a cheap place to live it's not cheap down in Florida uh it is not cheap in Florida forget it if you live in Miami Orlando um you know dtin even Panama City is getting more expensive um it really I mean it it's getting wildly expensive in uh in Florida folks are guys I was I can't tell you how many times I've read about people uh either on the news or in the you know just reading off of different websites blogs um people talking people on Facebook talking about how they're selling their house now because their property taxes have increased so much that they can't afford to live there anymore some of these homes are paid off but they can't afford the property taxes and the increased Insurance because of the the hurricanes and all that going on in Florida just it has become so expensive they can't afford to live there now so and some of these folks are retired fixed income so if you're fixed income and you're expenses go up but your income is fixed well you have no choice but to sell forget about you know some of these folks who are living in mobile homes and the the the mobile homes paid for but the lot rent keeps increasing those folks are screwed their insurance keeps going up a lot of people anyway getting back to what we're talking about so um it looks like the High income earners threshold is right around $85,000 so in the future some people could receive spousal benefits While others would not at least based on their income now there have also been changes to the system over the years to make it a little bit more generous to lower income people and less generous to higher income people so this is almost in alignment with this great wealth transfer that we've talked about for you know many months um and and so this is the first time an entire class of benefits would be cut due to income and this doesn't if this isn't means testing I don't know what is I don't know what is because I mean it it's never Social Security benefits were always paying more depending upon how much you put in basically but now they're trying to penalize you for having earned too much now if your whole social if your whole retirement plan was based on living off of Social Security and then all of a sudden they cut that sucker down what are you going to do I mean this this this is this is this is alarming now if you guys have not Shar this video with someone who's who you know is either about to retire uh in retirement know someone who's about to retire definitely get this video out this is very important and what's even more important is I'm not voting for this I'm not voting for having Social Security benefits cut um but these are the kind of things these are the kind of things that they will sneak into these when I say these um that they I'm saying these are the sorts of changes that these lawmakers and politicians will just sneak in slip in you know just like they pass this 95 billion um uh relief package Biden Joe Biden passes 95 billion dollar relief package a lot of this money is going to the Ukraine and a lot of folks are like Hey where's my money really going like I have not seen um any kind of audit Trail on where this money is going when it goes to the Ukraine for all we know it could be going to uh one of Joe Biden and Hunter Biden's businesses over there you know anyway but I would love to hear you guys' thoughts on means testing Social Security benefits and more importantly these changes would not affect current seniors or those near retirement but for those who are younger than 55 maybe even up to 60 years old I think it's definitely time to plan for a retirement income strategy that assumes Social Security will look very different possibly providing only a small portion of the current benefit estimate if any but ultimately some very hard choice es and changes to the program are inevitable Democrats they they have already criticize this proposal saying that Republicans want to cut Social Security right however at the same time if no actions taken Social Security will cut itself in less than 10 years so definitely something has to happen What should that something be I'm open for suggestions but clearly we can't leave it as it is now if you guys haven't already please hit the like button for the video share this video get this message out here this is going to affect millions of people across United States all 50 states SSI SSDI benefit uh beneficiaries everyone so uh let me know your thoughts guys um uh T says I'm retired in 2013 and my budget gets Tighter and Tighter on a monthly basis and some people are going to be at the end of their rope and there won't be any more budget to cut you know when you're a fixed income when you're when you're doing like personal finance uh budgeting and whatnot you you only have two things you can adjust you can adjust your income if you have a job maybe you can work some more hours maybe you can get a side hustle maybe you can get a raise from your job maybe get a promotion right you going increase your income maybe a start a business Maybe start a homebased business or something like that but then there's the reduction of expenses side of of the equation right you could lower your expenses somehow right spend less at the grocery store maybe you're not buying as much stuff right uh shop around and get lower cheaper insurance right maybe you uh get rid of the expensive cell phone plan maybe you uh I don't know um reduce your cable package we don't even have cable we don't even have cable we cut cable like almost two years ago uh so all we have is high-speed internet and a couple of streaming services that saved us a lot of money um maybe you can refinance your mortgage if you have a mortgage but chances are because uh interest rates have increased thanks to the Federal Reserve raising the FED funds rate uh most people actually could not save money by refinancing if you've refinanced today and you got a mortgage say five years ago chances are you're gonna be paying more today um unless you paid it down significantly and then you're refinancing a significantly lower balance but likely at a higher interest rate but it's like for most people that won't save the money anymore you know how they say oh um what is it buy the mortgage buy the house date the rate I forget how it goes anyway bottom line is this um there's no guarantee that being able to refinance in the future will save you money this is a myth that a lot of these real estate agents have told us and lied to us now I already knew better because I've been in the game long enough but a lot of people you know first-time home buyers they never heard anything like that they bought they invested in real estate they bought a home based on what some real estate agent told them and um that real estate agent may not have necessarily lied maybe they didn't know either but the simple fact of the matter is that you know now a lot of people are in a financial situation that uh is uncomfortable and you know refinancing may not necessarily be an option uh Catalia says learn you know what Catalia says learn how to intermittently fast now speaking of that uh here it is uh 2:52 p.m. I have not eaten yet so um my intermittent fact is actually uh actually save some money but I've actually dropped a little bit of weight anybody do any kind of intermittent fasting or anything like that uh but more importantly drop some comments down below if you have any moneys saving tips or you know uh strategies that you can share in the comment section with the community I would love to hear from you guys cuz that would help everybody out my wife she you know some people don't like Tik Tok whatever who cares right um you see date the interest marry the home uh yeah date the interest marry the home thanks Catalia okay my wife has learned so many different like life hacks and money saving tips off of Tik Tok it's unbelievable but I would love to kind of get something going here uh just a just a you know community of financial prosperity you know so if you guys have any money saving tips you know whether you're on Social Security fixed income retirement money saving tips will help anybody I don't care where you are in life if you can save money you know it it would definitely be beneficial drop those comments tips and strategies down below again if you haven't already please hit the like button for the video consider subscribing to the channel hit that notification Bell icon down below so you don't miss out on future videos and I'll see you guys on the next one