Paying tribute to those who made the ultimate sacrificeby Melanie Lekocevic / May 27, 2024Related Posts
Local business association sees record growth
By Marlene McTigue
For Capital Region Independent Media
Around 50 members of the Ravena Coeymans Selkirk Community Business Association (RCS CBA) and their guests gathered last Thursday at Patrick Henry’s Waterfront Grill in Coxsackie to network and celebrate the recent success of their growing organization.
Since 2016, the all-volunteer organization has sought to be a catalyst for growth and prosperity in the RCS communities and has seen a recent uptick in interest from many fledgling businesses.
The group is starting off 2024 with some big wins. Since their first event of the year, a marketing seminar held at the RCS Community Library in January, nine new businesses have joined the organization, an all-time high for one month since the group’s early days.
The association provides programming that informs and instructs membership, such as project management, insurance options for employers, getting to know your local school district’s budget and how it can impact your business, as well as tours of local member business in their effort to give members a greater understanding of the local business community. In the past, tours have included the Port Coeymans, TCI and Palliatech.
Though the event was all about getting membership together and having a good time, many local businesses volunteered their time and services to enhance the party atmosphere.
As attendees ascended the steps from the lower level of Patrick Henry’s to the second floor event space, they were greeted by a festive atmosphere.
In one corner near the bar, participants could don feather boas, hats and crazy sunglasses before they hopped up into 360 Photo Booth provided by 360 Photo Fun by R U Ready Events, free chair massages by Jessica Whitbeck of Body Balance Massage, and a chance to meet and have photos taken with Henry Bellagnome, the Capital District Tourism Gnome.
Aaron Flach, a CBA member and owner/developer of Patrick Henry’s, The Wire Conference Center and the James Newberry Hotel, led attendees on a tour of the campus’ properties.
Long-time members took part in the fun as well as some new faces.
Eric and Nadia Busuttil of Brooklyn were in the area for the NYS Legislative and Business Conference in Albany. The couple’s business, O’Rita’s Roasters, is considering opening a Greene County manufacturing facility and decided to stop in.
“This is a phenomenal event,” Eric Busuttil said. “We were happy to participate and be involved. The space here is phenomenal. Our tour with Mr. Flach was phenomenal as well.”
Local business owner Jessica Whitbeck, who provided free chair massages, said participating in events like this is good for her business.
“It’s a great opportunity to connect with the community and talk about the health benefits of massage,” said Whitbeck, whose massage studio is located on Route 9W in Ravena. “Being a member of the CBA has helped grow my business in the community and connect with others as well. It’s so important to get to know the businesses here and having an association like CBA is something I’m very grateful for.”
While CBA leadership is working on the school budget review session planned for the upcoming weeks they also have another reason to celebrate. March will mark the launch of Discover RCS, a community and business attraction program years in the making.
According to Vice Chair Rebecca Flach, who spearheaded the project, “The goal at Discover RCS is to showcase the excellence of Ravena-Coeymans-Selkirk, promoting its finest attributes to generate interest and investment in our charming small towns.”
A kickoff party where members and nonmembers alike will be the first to see the new website and accompanying hard copy of the community business map is planned for the upcoming weeks. Check back in with the News-Herald to learn more.
Social Security Matters: Why must I pay into Social Security when I’m collecting benefits?
By Russell Gloor
For Capital Region Independent Media
Dear Rusty:
I am collecting full Social Security benefits at age 72 and also working full-time. Why is the federal government still taking money from my paycheck?
I have written to Social Security experts on this issue, and they tell me “It’s the law.” That is not a good answer for me.
Approximately $4,400 was taken from my pay in 2023 for Social Security and, yes, I get a pittance of a COLA increase, but not equal to what I pay. No one has been able to fully explain the federal government’s thought process on taxing me for Social Security when I am getting full Social Security benefits. Can you?
Signed: Working Senior
Dear Working Senior:
Far be it from me to try to explain the federal government’s thought process on anything, but I can explain why those already collecting Social Security benefits must continue to pay Social Security payroll taxes while working.
It actually goes back to 1935 and the panel commissioned by President Franklin Roosevelt to create America’s Social Security program. Said panel determined how the program would be financed, Congress approved it, and FDR signed it. That methodology was essentially this:
Workers who earn (and their employers) must contribute to Social Security via payroll taxes to fund the program (we now know this as “FICA” for employees and “SECA” for the self-employed). When the program first started, certain employees and their employers were required to each contribute 1% of the employee’s first $3,000 of earnings. Obviously, those amounts have risen over the decades. And, for clarity, only certain workers originally participated in Social Security, which has also changed over the decades so that now nearly everyone who works must pay Social Security payroll taxes.
Starting in 1937 and still today, SS payroll taxes paid by those now working are used by the federal government to pay benefits to those who are currently receiving. Said another way, Social Security is a “pay as you go” program where income from those working (and their employer) is used to pay benefits to those receiving.
Payroll taxes collected aren’t put into a personal account for the worker; rather, they are used to meet current SS payment obligations. Any excess money collected is invested in special issue government bonds as reserves for future use (although current annual SS income is less than annual program costs – an entirely different topic).
So, the financing method enacted in 1935 and started in 1937 still applies — those who work and earn (and their employers) must pay into the system to fund benefit payments to those who are now receiving, and that includes those workers who are already collecting their Social Security. FYI, there was a time when, if someone worked after starting their SS benefits, they lost all of their benefits. Fortunately, that rule no longer exists, so those who are collecting SS benefits can now continue to get benefits if they work, but they must also still pay into the program from their work earnings to help pay benefits to SS recipients.
I hope this provides some insight for why you must continue to contribute to Social Security even after you have started collecting your benefits. It is a result of how the program is financed – predominantly by workers through payroll taxes on their earnings (and to a lesser extent from interest on Trust Fund reserves and income tax on Social Security benefits).
With very few exceptions, everyone who works helps pay benefits to those now receiving.
This article is intended for information purposes only and does not represent legal or financial guidance. It presents the opinions and interpretations of the AMAC Foundation’s staff, trained and accredited by the National Social Security Association (NSSA). NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (amacfoundation.org/programs/social-security-advisory) or email us at ssadvisor@amacfoundation.org.
