Connect with us

Hawaii

Here’s How to Protect and Expand Social Security, According to One Hawaii Senator | The Motley Fool

Published

on

Here’s How to Protect and Expand Social Security, According to One Hawaii Senator | The Motley Fool


With approximately six years until Social Security benefits must be cut, one group of Hawaii legislators has come up with a simple plan to prevent a shortfall.

It’s no secret that Social Security, as we know it, is in a pinch. According to the Committee for a Responsible Federal Budget (CRFB), the Social Security and Medicare trust funds are six years away from insolvency.

The combination of more retirees, fewer people in the workforce, and the impact of President Trump’s big, beautiful bill (OBBBA) leads the CRFB to estimate a 24% Social Security cut in late 2032 if nothing is done. In addition, retirees could face an 11% cut in Medicare Hospital Insurance payments.

This isn’t the first time the trust funds have been in trouble. In 1982, the fund that helped cover the cost of monthly Social Security benefits faced a significant shortfall and was forced to borrow from other funds to pay benefits on time. Congress was able to work together long enough to raise taxes on some, adjust benefits, and prevent insolvency.

Advertisement

With a similar problem facing the trusts 44 years later, Hawaii’s Senator Brian Schatz and Representative Mazie Hirono (along with Rep. Jill Tokuda) believe they have a simple solution. Here’s what their proposal, called the SAFE Social Security Act, would do.

Image source: Getty Images.

Lift the payroll tax

To ensure payroll taxes apply fairly across the board and that the rich pay their share, the proposal includes a plan to phase out the payroll tax cap so that no one can stop paying into Social Security once their income hits $184,500.

Adjust benefit calculations

The trio suggests adjusting the way current benefits are calculated, a move that would increase the average monthly benefit by more than $150.

Update how cost-of-living adjustments are determined

As of today, cost-of-living adjustments (COLAs) are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the previous year to the third quarter of the current year. In theory, using inflation tied to CPI-W is supposed to help retirees keep pace with the rising cost of living.

Advertisement

For years, however, senior citizen advocacy groups have insisted that the wrong index is being used because working adults and retired adults spend money differently. For example, an older retiree is likely to spend more on medical care than a younger person still in the workforce.

The Hawaii legislator’s plan would address the issue by basing the COLA on an index that tracks inflation related to seniors’ spending. Specifically, they’re talking about the Consumer Price Index for the Elderly (CPI-E).

Sen. Schatz believes that the SAFE Social Security Act will expand Social Security and put more money in the hands of those who rely on it. It will also strengthen the program for the next generation of retirees, ensuring today’s workforce has something to look forward to.



Source link

Advertisement

Hawaii

Hawaii offers support after Gabbard resigns to focus on husband’s health – The Garden Island

Published

on

Hawaii offers support after Gabbard resigns to focus on husband’s health – The Garden Island






Source link

Continue Reading

Hawaii

Hawaii’s Carissa Moore celebrates comeback victory in Raglan | Honolulu Star-Advertiser

Published

on

Hawaii’s Carissa Moore celebrates comeback victory in Raglan | Honolulu Star-Advertiser


1/4

Swipe or click to see more

Advertisement

OSCAR HETHERINGTON/WORLD SURF LEAGUE

Five-time WSL Champion Carissa Moore of Hawaii surfs in the Final at the Corona Cero New Zealand Pro on May 25, at Raglan, New Zealand.

RAMBO ESTRADA/WORLD SURF LEAGUE
                                Five-time WSL Champion Carissa Moore of Hawaii surfs in the Final at the Corona Cero New Zealand Pro on May 25, at Raglan, New Zealand.

2/4

Advertisement

Swipe or click to see more

RAMBO ESTRADA/WORLD SURF LEAGUE

Five-time WSL Champion Carissa Moore of Hawaii surfs in the Final at the Corona Cero New Zealand Pro on May 25, at Raglan, New Zealand.

Advertisement
RAMBO ESTRADA/WORLD SURF LEAGUE
                                Five-time WSL Champion Carissa Moore of Hawaii, after winning the Final at the Corona Cero New Zealand Pro on May 25, at Raglan, New Zealand.

3/4

Swipe or click to see more

RAMBO ESTRADA/WORLD SURF LEAGUE

Advertisement

Five-time WSL Champion Carissa Moore of Hawaii, after winning the Final at the Corona Cero New Zealand Pro on May 25, at Raglan, New Zealand.

MICHAEL MADRID-USA TODAY SPORTS
                                Carissa Moore talks during the Team USA Media Summit, in April 2024, at the Marriott Marquis.

4/4

Swipe or click to see more

Advertisement

MICHAEL MADRID-USA TODAY SPORTS

Carissa Moore talks during the Team USA Media Summit, in April 2024, at the Marriott Marquis.

Advertisement

Hawaiian Carissa Moore and Brazil’s Italo Ferreira claimed wins in top-quality surf at the New Zealand Pro in Raglan on Monday, after a delay caused when an in-water photographer was injured by what was thought to be a shark or a sea lion.

Advertisement

Hosting a full world championship tour competition for the first time, Raglan’s famously long left-handers turned up in perfect form on Monday, with glassy, overhead green walls wrapping around the boulder-strewn point.

Olympic and five-times world champion Moore scored the highest two-wave total of the year, 19 out of 20, in her semi-final on Sunday.

She started strongly in Monday’s final against 20-year-old Californian Sawyer Lindblad, kicking off with an 8.50 out of 10 for a series of powerful carves on her backhand.

Lindblad kept in touch with a 7.67 for some speedy turns on her forehand on the wave behind and then took the lead with an even better 9-point ride on a clean, steep wall.

But Moore, making a comeback after taking time off to have her first child, fought back on a bigger wave and powered her way to 9.4 and a two-wave total of 17.9.

Advertisement

“When I walked away two years ago, I didn’t know if I’d ever get this feeling back or this opportunity to surf perfect waves with only one other person out, in front of a beautiful crowd and at a beautiful place, with my family on the beach,” said the 33-year-old.

“And in that process, you doubt yourself so much, so the win, it means so much to me.”

Advertisement

Ferreira’s final against Morgan Cibilic was an exercise in contrasts, with the goofyfoot Brazilian repeatedly taking to the air on the long left-handers, while the Australian employed sharp turns on his backhand.

Cibilic took the early lead, following up an early 7-point ride with an excellent 8.8 for a 15.8 point two-wave total.

Ferreira’s progressive approach and unmatched aerial assault, however, was favored by the judges as he racked up an 8.17 and a 9.33 for a 17.50 total as he spun and carved his way down the point.

“I knew this event would be sick because on the left-handers, we can do some different types of maneuvers,” said the Tokyo Olympic gold medalist, who moved to the top of the world rankings.

Earlier, during Ferreira’s semi-final against compatriot Yago Dora, a photographer suffered what organizers called a “wildlife injury,” forcing the event to be put on hold for a couple of hours.

Advertisement

The photographer was treated for puncture injuries but was in a stable condition and in good spirits, the World Surf League said.

WSL tours and competition vice president Renato Hickel told the event broadcast they were unsure what kind of animal had caused the injury.

“At this stage we’re not certain if it was a shark or a sea lion. The doctor that was here helping on the scene was inclined to think it was a sea lion instead of a shark,” he said.

“Nevertheless, very scary.”

Wildlife attacks during surf events are rare but not unprecedented. World champion Mick Fanning famously tussled with a shark during the final of a WSL event at South Africa’s Jeffreys Bay in 2015.

Advertisement

The 12-stop tour next heads to the steamy right-hand point break of Punta Roca for the Surf City El Salvador Pro.




Source link

Advertisement
Continue Reading

Hawaii

8 Reasons We Love Summer in Hawaiʻi

Published

on

8 Reasons We Love Summer in Hawaiʻi


From identifying changing constellations in the night sky to noticing when ʻamaʻama (mullet) spawn, ancient Hawaiians were incredibly observant of their natural surroundings and the shifts in seasons.

They used a sophisticated lunar calendar consisting of 12 months, which were marked by the appearance of different stars and constellations. These months were divided into two seasons. The cooler, wetter season is Hoʻilo, which runs from about October to April. Kau Wela is the warm, drier season, which runs from about May through September.

With warm and pleasant weather throughout the 12 the year, it sometimes feels like we live in a perpetual summer in Hawaiʻi. Fall and spring are simply terms used to describe school semesters. However, locals know there are subtle differences between the seasons.

These are just a few of the reasons we look forward to the summer months in Hawaiʻi every year.

Advertisement

1. Seasonal Specialties

A bucket of lychee plucked in Makawao, Maui.
Photo: Grace Maeda

It’s not just mangoes that grow in abundance during the summer. Lycheelilikoʻi, soursop and calamansi are just a few other favorites that locals often share with their neighbors. Across the Islands, farmers markets overflow with vibrant fruit stands, from the KCC Farmers Market on Oʻahu and Upcountry Farmers Market on Maui to the Grove Farm Market on Kauaʻi and Hilo Farmers Market on Hawaiʻi Island.

READ MORE: 9 Ways to Sink Your Teeth into Mango Season in Hawaiʻi

2. Shave Ice Season

Shave ice is the ultimate treat after a day at the beach.
Photo: Aaron K. Yoshino

Sure, you can enjoy shave ice at any point in the year. But for many locals, it’s the sweet nostalgia of indulging in the refreshing treat after a day at the beach that takes you back to your “little kid” days during the summer.

READ MORE: Why Waiola Shave Ice is an Endearing Favorite

3. Pua Bloom

Plumeria in bloom.
Photo: Grace Maeda

From pua kenikeni to plumeria, the Islands’ fragrant pua (flowers) often bloom in the summer months. It’s a great time of year to visit a botanical garden to see what plants are in season.

READ MORE: Escape to This Outdoor Oasis in Honolulu

4.Beach Days on the North Shore

Waimea Bay on Oʻahu’s North Shore on a summer day.
Photo: Grace Maeda

Some of the best beaches across the Islands stretch along their northern coastlines. From ʻEhukai Beach Park on Oʻahu and Hoʻokipa Beach Park on Maui to Kēʻē Beach on Kauaʻi, it’s easy to be captivated by these sandy shores. During the winter months, these beaches are known for their large waves and dangerous rip currents. Fortunately, the conditions are typically much calmer in the summer, making for long and beautiful beach days.

5. South Shore Swells

The south shores see more exciting swells in the summer.
Photo: David Croxford

While the North Shore is graced by calmer waters in the summer, the south shores see exciting swells generated by winter storms in the Southern Hemisphere. These swells typically peak between May and September, bringing fun waves that are often ideal for beginners and longboarders.

6. King Kamehameha Day

The King Kamehameha Statue in Downtown Honolulu adorned in lei.
Photo: Aaron K. Yoshino

June 11 is an official state holiday celebrating Kamehameha the Great, one of the most important and legendary rulers in Hawaiian history. The monarch united all the major Hawaiian Islands, establishing the Kingdom of Hawaiʻi. On Oʻahu, state leaders and community members gather in Downtown Honolulu to adorn the King Kamehameha Statue with beautiful lei. On Hawaiʻi Island there are two statues of the king, one in Hilo and one in front of the North Kahala Civic Center. Both statues are ceremoniously draped in lei to celebrate Hawaiʻi’s great king.

READ MORE: 3 Legends About Hawaiʻi’s King Kamehameha 

Advertisement

7. Summer Festivals in Hawaiʻi

Hawaiʻi hosts an exciting mix of annual events throughout the summer. Be sure to bookmark the Hawaiʻi Kuauli Pacific & Asia Cultural Festival on Hawaiʻi Island in early June, the Kapalua Wine and Food Festival on Maui at the end of June, and Duke’s OceanFest on Oʻahu in August.

8.Bon Dances

Obon festival in Hawaiʻi.
Photo: Hawaiʻi Tourism Authority (HTA)/Kazuya Kajita

When waves of immigrants arrived to work on sugar plantations in Hawaiʻi, they also brought many customs and traditions. Japanese plantation workers planted the seeds for Obon season. These festivals include Bon dances; a style of folk dance performed to honor ancestral spirits. Dancers circle around a yagura (tower). Across the Islands, Buddhist missions welcome everyone to participate.



Source link

Continue Reading
Advertisement

Trending