I could do fine without them. Although I am eligible for full retirement age benefits I am postponing applying for them until age 70. I will receive 24% more that way. Plus I don't need it. I have other sources of income.
I began getting Social Security at the earliest age possible, 62, because I didn't trust that the benefits wouldn't be curtailed eventually and if so, it would be before I could recoup what I lost by waiting. That choice seems prescient now, especially since we haven't spent that money. Like you, we're not dependent on it, and so it just accrues in savings, where it earns about 9% interest after taxes. Better that those funds be under our control now than still in the US treasury, assuming that we can keep them under our control.
Imagine what it must feel like to be paying into Medicare and Social Security now believing what I do. It's like paying premiums to an insurer on the brink of insolvency. Working MAGA will remain blissfully unaware that they are paying taxes for benefits in the future at risk of not being there then.
Trump will not compromise Medicare nor Social Security.
You just need to apply the dog test to decide this. It's a simple test of means, motive, and opportunity:
You defrosted a steak on a plate which you put on the table but forgot to put it back into the refrigerator before you left for work. Your dog is home alone, loves steak, has never been trained, and can get to the steak. Question: did the dog eat the steak?
Of course it did. If it had the will and the means to get to it, there is no other possible outcome unless the dog dies of a heart attack trying to get to the steak.
Ask yourself whether this is something the Republicans want, and if they do, whether Trump also wants it or can be convinced to come on board to assault these programs like he did unsuccessfully with Obamacare last time. Then ask yourself, if that's what they want, who can stop them?
What do you suppose the Republican agenda is? Are there any clues anywhere?
80% of House Republicans released a Budget that:
Cuts Medicare and Social Security while putting health care at risk for millions
- Calls for over $1.5 trillion in cuts to Social Security, including an increase in the retirement age to 69 and cutting disability benefits.
- Raises Medicare costs for seniors by taking away Medicare’s authority to negotiate prescription drug costs, repealing $35 insulin, and the $2,000 out-of-pocket cap in the Inflation Reduction Act
- Transitions Medicare to a premium support system that CBO has found would raise premiums for many seniors.
- Cuts Medicaid, the Affordable Care Act, and the Children’s Health Insurance Program by $4.5 trillion over ten years, taking coverage away from millions of people, eroding care for seniors, children, and people with disabilities, and taking us back to the days where people could be denied care for pre-existing conditions and charged more for health insurance simply for being a woman. (source, Mar 2024)
That is an unfounded myth, mostly spread by anti-Trump fear mongers.
Myth? It's a prediction, and I just gave you the foundation of the argument. I expect the Republicans to be more aggressive than the outline above. That's what they were willing to admit to when a Democrat was in the White House, the Dems controlled the Senate, and they were trying to regain power. That's all changed.
I have no reason to say anything about Trump that I don't believe sincerely. The conversation is no longer about trying to warn people against choosing Trump. It's about adapting to the coming wave of authoritarianism, racism, sexism, kleptocracy, and kakistocracy. You probably don't see those things as real concerns, and it's hard to decide in advance how much they will impact any given life, but we are taking precautions.
We've already removed ourselves from America and have half our savings and our home in Mexico. Our American savings are in a State Department account for Americans with no current American address, which means expats and some military. That may need to be moved to Mexico. It's a plum sitting there for Trump to steal as soon as one of his villains mentions sticks a document in front of him to sign unread. They and he'll likely want to hurt expats however he can, as we have preferred another country and are spending in a foreign economy, which doesn't help him or his cronies.
The wife is still nervous about consolidating our savings in one country and economy, but I believe the greater danger is having money Trump can control. Still, we can lose half our savings and do fine, although we might feel losing both that and our Social Security benefits.
The other adaptation we're investigating is applying for Mexican citizenship. We don't want to be dependent on an American passport, and if we're technically Mexican, we can avoid having our savings data reported to the American government - something we never minded before but now have a reason to be concerned about. We're not certain that Mexico wouldn't freeze or turn our savings over to Trump if he his minions demanded they do if we're only American nationals living in Mexico.
This is FATCA:
- "The Foreign Account Tax Compliance Act (FATCA), which was passed as part of the HIRE Act, generally requires that foreign financial Institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding on withholdable payments."
Our expectation is that as Mexicans and with our accounts naming us as dual citizens, the Mexican government can ignore the American government and fail to report our data to it.
Let's see who's closer to correct - people who poo-poo away of these threats, or those who see them as real and take them seriously. If you understand Trump as I and millions of others do, you understand that he personally has achieved his goal of attaining power and authority which no former president has enjoyed or wanted to abuse, and that he intends to use to enrich and glorify himself and to exact revenge for the humiliation he has suffered these past four years.
Furthermore, he will open the floodgates of government to cruel people like Miller and Bannon who have a political agenda different from Trump's personal agenda. These are the people who have strong opinions that are too complex for Trump to understand, and which wouldn't interest him anyway if they aren't in the service of him personally.
Here is some excellent advice for Americans: the past is no longer a reliable predictor of the future either politically or in terms of weather statistics. Things rarely or never seen before will characterize the future, especially in those two areas. Hurrican Helena devastated towns never touched by hurricanes before - homes uninsured for wind and water damage because it wasn't realistic to carry such insurance in those regions.
People should also expect to see a similar transformation of the political landscape. Things not thought possible and not on people's minds will begin manifesting. Think about how many MAGA will experience the deportation of loved ones that they weren't expecting. My wife's MAGA nieces are both married to Mexican-Americans (we think they have green cards or American passports, but their immigration status is actually unknown to us). Trump has been targeting legal immigrants as he did in Springfield OH, and doesn't consider Mexicans of any status American anyway since they're brown. Yet they voted for Trump no doubt under the assumption that the past predicts their husbands' futures.
My wife's nieces are MAGA living in the States and each are married to Mexican-Americans. I don't know if they have green cards r passports, but if the demonization of Haitians in Springfield OH is any indication, even legal may be at risk. They aren't really American to Trump and his team of bigots anyway if they're brown. They no doubt are counting on the future resembling the past when these men were safe and welcome.