Posted Sep 30, 2014 by Martin Armstrong
Before the government will pay you Social Security, they do a credit search and then if you owe anything – they deduct it. It has been a very rude awakening for a growing number of seniors: They file for Social Security, then suddenly discover that the federal government plans to take part of their benefit to pay off delinquent student loans, tax bills, child support or alimony. Anything they can find not to pay – they just do. Anyone who had a student loan 40 years ago and forgot about it – well Uncle Sam has not.
This US Government Accountability Office (GAO) has released findings on the issue of rising student debt burdens among retirees. Of course no one will address the fact that what Social Security now pays compared to what you paid in is nothing after long-term inflation. Nevertheless, the GAO has now reported on how the government goes after delinquent borrowers by going after wages, tax refunds and Social Security checks.
People are finding that their tax refunds are even taken to pay family member’s debts who may be dead. The latest clever move with creating databases and linking everyone together has been the trend to confiscate people’s assets based upon old debts owed by a relative as reported by the Washington Post. If your parents owed the government money, they are seizing your assets including refund checks.
This is just not the loving, caring government they pretend to be who cares about you and your family. This has become a plain adversarial relationship – you are the evil target who has money they need to fund their lavish pensions. DO NOT over-estimate your income to get a refund check for the IRS has been delaying refund checks for a long time as they search records to find an excuse not to give you anything.