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Tulsa Social Security Disability Law Firm BLOG

Ending Payments to the Deceased Easier Said Than Done

October 6th, 2011

The reported also noted that, a few years ago when stimulus payments were going out, 72,000 stimulus payments went to deceased Americans. Amongst ways to improve Social Security’s financial situation and effectiveness, we have often discussed curbing fraud and waste. It is hard to imagine a bigger waste than funds that go to people no longer alive, and a recent watchdog report crunched the numbers of how much and how often the Social Security Administration (“SSA”) pays deceased individuals. In one case, a son received his deceased’s father’s benefits for 37 years after his father’s passing. The grand total of the payments exceeded a half million dollars. The government did not catch on until the son passed away three years ago in 2008. The reported also noted that, a few years ago when stimulus payments were going out, 72,000 stimulus payments went to deceased Americans. An investigative agency uncovered the…
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Man Claiming Glaucoma Manages and Owns Restaurants

October 5th, 2011

From the fall of 2006 to the fall of 2009, a restaurant owner and manager on the East Coast took in about $300,000. Most of us agree would agree that that amount is enough to live off of, even if the government takes taxes out of that sum. But the 50-year-old-man wanted more, and he defrauded the government and other disability applicants out of nearly $60,000 in Social Security disability benefits. The man made the $300,000 working as general manager at a restaurant and through selling his stake in another restaurant. His first wrongdoing was that he never informed the IRS of his profits over the three year period. The federal government should have received almost $72,000 in taxes from his profits. While the man was managing and operating a restaurant, he was supposedly suffering from visual impairments and glaucoma. At least that is what he told the Social Security…
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We Might Learn from Social Security Alternatives in Texas

October 4th, 2011

A Wall Street Journal article looked at the suggestion by Texas Governor and hopeful Republican presidential nominee Rick Perry that several counties in Texas have already solved the Social Security problem. Three counties in the Lone Star State left Social Security and have been running their own personal retirement and disability accounts for the past 30 years. Their success has some wondering whether we might be able to learn from them. If you have any experience dealing with alternative programs, we welcome your thoughts below. At least at the start, the systems in place in the three Texas counties somewhat resemble Social Security. Workers pay 6.2 percent in, and the county matches it. But, after that, financial institutions take control of the money and pay an interest rate on it. The institutions paid around 7 percent on it during the 1990s, and, on average, 5 percent over the past decade….
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Cuts to Payroll Taxes May Hurt Social Security Beneficiaries

October 3rd, 2011

As part of his jobs plan, one suggestion that President Obama offered was to extend and expand payroll taxes. Many from both sides of the aisle immediately wondered what the effect would be for Social Security. Estimates currently predict that Social Security disability programs will run out of money around 2017 and that all Social Security programs will become insolvent by 2037. Cutting the taxes that fund these programs that are already facing severe shortages may worsen the problem. Obama seeks a $175 billion one-year extension, and he requested halving the payroll tax for employees to 3.1 percent in 2012. Employers’ rate would be 3.1 percent on the first $5 million of their payrolls. Will these cuts do more harm than good in the long term? The Center for Budget and Policy Priorities found that the cuts would make a significant difference in the amount that middle class families could…
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