Read time: 1 minute

Fox Allows Financial Consultant Tavella To Propagate Myth That Social Security Is 'Broke'

While discussing the fact that seniors will not be getting a cost of living increase on their Social Security benefits next year, Fox host Julie Banderas allows financial consultant Dominick Tavella to propagate the myth that the Social Security
Views:

While discussing the fact that seniors will not be getting a cost of living increase on their Social Security benefits next year, Fox host Julie Banderas allows financial consultant Dominick Tavella to propagate the myth that the Social Security trust fund is broke. Tavella apparently wants the Fox viewers to believe that the surplus disappeared because the system is paying out more than it's taking in right now. Maybe he's trying to drum up some business for his investment company.

Banderas: With Social Security obviously being the primary source of income as you mentioned for a great majority of Americans, in fact 64% of retirees.

Tavella: 64%.

Banderas: 64%, that is a huge disadvantage for so many of our seniors. I guess... do you need to think a little differently about retirement given these circumstances?

Tavella: Well obviously if you're not retired yet and particularly if you're younger and have a long time to go, if you are not paying attention to what's going on here, if you are not seeing the writing on the wall then you really have to be walking around with your eyes closed.

This system, the Social Security system simply is broke. It is broke today. They are spending more money today than they're actually collecting way ahead of schedule. So the solutions to this are going to be painful and particularly painful the younger you are.

They're going to push out the age for retirement. We're hearing rumors it might go out to age 70. We're hearing who's even going to be eligible for getting Social Security. They're going to put income limits in place. So you have to take care of yourself. If you don't you really have nobody to blame but yourself.

Can you help us out?

For 16 years we have been exposing Washington lies and untangling media deceit. We work 7 days a week, 16 hours a day for our labor of love, but with rising hosting and associated costs, we need your help! Could you donate $20 for 2020? Please consider a one time or recurring donation of whatever amount you can spare, or consider subscribing for an ad-free experience. It will be greatly appreciated and help us continue our mission of exposing the real FAKE NEWS!

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team