Minimum Social Security and ssi is $733 (ssi) + ?
Average Social Security is $1,180
Maximum Social Security is $2,366
Median Social Security payment is a bit higher
$14,535/annually (close to the federal poverty rate).
Income from Social Security | Pension Rights Center
So, there is a large net deficit.
- Either you increase the basic minimum payment to the retired, or you;
- chump the pensioners out of their payroll tax for Social Security of over 40years and reduce Social Security benefits;
- or income qualify the recipients.
Maybe, only 5% of retirees would have their benefits reduced but they paid the most in usually.
Is that a fair deal? Not going to happen. Anyone receiving over the basic minimum wage will be exempted from the scheme. So ...
In 2015, over 59 million Americans will receive almost $870 billion in Social Security benefits. Count them out -- they get SSA SSI and no basic income.
less
59*12000
708 000 000 000 Untouched
GA Welfare is another 480 000 000 replaced by replaced by basic income. That is a large increase in payments.
Quote:
Welfare Statistics Data
Total number of Americans receiving welfare 67,891,000
Total number of Americans on SNAP ? food stamps 41,700,000
Total number of Americans receiving SSI ? unemployment insurance 10,200,000
Percent of the US population on welfare programs 22.38 %
Total Federal government spending on welfare programs annually (not including food stamps or unemployment) $158,200,000,000
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Welfare Statistics and Demographics – Statistic Brain
Take a hypothetical family of four -- they get
Quote:
What is an average welfare check?
A:
Quick Answer
Welfare payments vary by state, but the average family of four in the United States can receive as much as $900 per month. A single person may receive as much as $200 per month. Continue Reading
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4*$1,000 a month.( $12K/yr) =$4,000 /mo compared to $900 /mo WTF?
These numbers are without Medicare or Medicaid.
The savings you suggest (woj) are minimal.
Those charts I made above ^ of GNI Growth clearly show that countries with high taxation and social benefits are stagnant or below average GNI Growth countries. Hey, Paul where is CZ -- they are not listed by the World Bank -- maybe the numbers are too embarrassing to show IDK.
This is a breed new recipients scheme -- every new baby is worth $12K per year -- to who? The whole idea is ludicrous.