There has been much discussion on Project 2025 proposals. Like most, I agree with some and do not agree with other items proposed. What is clear is the government spends the taxpayer's money in a seemingly blind but prolific manner. Research demonstrates that the majority of that money spent is not benefiting the citizens of these United States.
Taxes collected slated for retirement income have been proliferated with additional programs to a point where we'll run short of funds. It's easier to add programs to an existing bill than to create a separate expense bucket to manage the program.
Since the inception of Social Security in 1935, several major programs and changes have been added to expand its scope and coverage:
1. Survivor Benefits: In 1939, amendments were made to add child, spouse, and survivor benefits to the original retirement benefits[1][4].
2. Disability Insurance: The Social Security Amendments of 1954 initiated a disability insurance program, providing additional coverage against economic insecurity[1]. The number of disability beneficiaries more than doubled from 1961 to 1969[1].
3. Medicare: In 1965, Medicare was signed into law, significantly expanding health insurance coverage for older Americans[1][2].
4. Supplemental Security Income (SSI): In 1972, the SSI program was created, federalizing and standardizing benefits for needy aged, blind, and disabled individuals that were previously administered by states[1][2].
5. Automatic Cost-of-Living Adjustments (COLAs): Also introduced in 1972, COLAs were implemented to automatically adjust benefits to keep pace with inflation[1][3].
6. Changes to retirement age: In 1961, the minimum age for men to receive old-age insurance was lowered to 62 (women were given this option in 1956)[1].
7. Expansion of coverage: Throughout the 1950s and 1960s, coverage under Social Security became nearly universal, expanding to include more workers[2].
It's important to note that the concept of "IOUs" is not a separate program, but rather refers to the way Social Security is funded. The program operates on a pay-as-you-go basis, with current workers' payroll taxes funding benefits for current retirees. Any surplus is invested in special Treasury bonds, which are sometimes colloquially referred to as "IOUs" by the government[2][3]. These funds usually end up being added to the general fund versus remaining in the expense bucket it was intended for.
These additions and changes have transformed Social Security from its original form as a basic retirement program into a comprehensive social insurance system that provides retirement, disability, and survivor benefits to millions of Americans.
Based on the search results provided, there isn't a clear statement attributing the addition of benefits to Social Security to a specific political party. However, we can infer some information about the parties' positions on Social Security:
1. Democrats generally support expanding Social Security benefits:
- Most Democrats are unified behind proposals to raise new taxes on the wealthy and expand benefits[2].
- Democrats want to expand benefits for all beneficiaries to match the higher cost of living[4].
- 83% of Democrats would rather pay more into Social Security to ensure it remains fully funded[4].
2. Republicans have proposed some changes, but are less unified:
- Some Republicans have suggested reforms aimed at ensuring Social Security's solvency, including gradually adjusting the retirement age and reducing benefits for high-income earners[1].
- There are proposals from Republicans to change Social Security so that Congress has to approve funding for the program every year, which is largely opposed by voters across party lines[4].
3. Historically, both parties have contributed to changes in Social Security:
- The Social Security Amendments of 1956 provided benefits for disabled workers[5].
- In 1965, Medicare was signed into law, significantly expanding health insurance coverage for older Americans[5].
- The 1972 amendments introduced automatic cost-of-living adjustments (COLAs) and Supplemental Security Income (SSI)[5].
While specific additions to Social Security benefits aren't attributed to one party, the search results, show that Democrats are currently more focused on expanding benefits, while Republicans are more concerned with addressing the program's long-term solvency through various reforms.
A very micro view of other expenses not benefiting the citizens is as follows:
California is estimated to spend $2.6 billion next year on providing Medicaid coverage to all undocumented immigrants in the state.
The Biden administration is reportedly spending approximately $3 million per day to not build the border wall. This cost is primarily associated with paying contractors to guard unused construction materials and maintain suspended project sites. [Source cis.org/Law/Biden-Spending-3-Million-Day-Not-Build-Border-Wall]
The Federation for American Immigration Reform (FAIR) estimated that at the start of 2023, the net cost of illegal immigration for the United States – at the federal, state, and local levels – was at least $150.7 billion. [Source: fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers-2023]
The answer from the current administration is to spend more, increase taxes substantially, and continue hiring thousands of IRS employees with an initial budget of $80B
Citations:
[1]
https://www.cnbc.com/2024/03/22/how-social-security-benefits-may-change-under-republican-democrat-proposals.html[2]
https://www.nytimes.com/2023/02/18/business/fixing-social-security-and-medicare-where-the-parties-stand.html[3]
https://larson.house.gov/media-center/in-the-news/both-parties-are-returning-their-roots-social-security[4]
https://www.dataforprogress.org/blog/2022/10/6/democrats-and-voters-support-expanding-social-security[5]
https://www.ssa.gov/history/50mm2.htmlCitations:
[1]
https://www.ssa.gov/history/briefhistory3.html[2]
https://www.ssa.gov/policy/docs/ssb/v66n1/v66n1p1.html[3]
https://www.ssa.gov/history/50mm2.html[4]
https://www.ssa.gov/history/50ed.html[5]
https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p1.html