And for those depending on Social Security

[Yossarian]

Raising the earnings threshold is pretty much a catch 22. I guess it depends if your idea of social security is having everyone else take care of your retirement or if you want to be able to take care of yourself. I have been paying in the max. for some time now. Problem is I won't be getting it back. Seems a little inhumane to increase the amount I have to pay in even further. The idea I like much better is being able to opt out of it all together. I am pushing 50 and I would still elect to opt out if it meant they would quit taxing me for it. Let's give a lot more people some incentive to earn and leave their golden years security up to them. I could have one hell of a retirement package if I had all the SS taxes back that the government bilked me out of and pilfered.

 

The scary thing is the amount of money most everyone has paid in and the way they trickle it back to you. When you die, you're done. Seems the reserve fund should be growing exponentially simply from the difference of the large amount you have paid in and the small amount most people get back. They should probably think about capping a persons lifetime benefit at the amount they have paid in. I guess there is no easy answer when the desire is to redistribute income in a free society. I don't think you can do both without being unfair to one group or the other.

the bold part is true and interesting. either way, you would be a fool to depend on social security, which is tragic. however, the government turned a person's forced savings account (you get out what you put in) into a well of funds to borrow from (you put in, they take out, subsequently forget to replace), they have to pay it back somehow. so, theoretically, raising taxes could technically be construed as paying back the borrowed funds from past projects. also, i do not think taxes should just be raised, but the maximum rate on taxable earnings should (it maxes out at just over $100,000 right now. that means a person making $105,000 and $750,000 are in the same social security tax bracket).

 

Your post was pretty solid but not enough to read it twice.

[sd'sker]

Raising the earnings threshold is pretty much a catch 22. I guess it depends if your idea of social security is having everyone else take care of your retirement or if you want to be able to take care of yourself. I have been paying in the max. for some time now. Problem is I won't be getting it back. Seems a little inhumane to increase the amount I have to pay in even further. The idea I like much better is being able to opt out of it all together. I am pushing 50 and I would still elect to opt out if it meant they would quit taxing me for it. Let's give a lot more people some incentive to earn and leave their golden years security up to them. I could have one hell of a retirement package if I had all the SS taxes back that the government bilked me out of and pilfered.

 

The scary thing is the amount of money most everyone has paid in and the way they trickle it back to you. When you die, you're done. Seems the reserve fund should be growing exponentially simply from the difference of the large amount you have paid in and the small amount most people get back. They should probably think about capping a persons lifetime benefit at the amount they have paid in. I guess there is no easy answer when the desire is to redistribute income in a free society. I don't think you can do both without being unfair to one group or the other.

the bold part is true and interesting. either way, you would be a fool to depend on social security, which is tragic. however, the government turned a person's forced savings account (you get out what you put in) into a well of funds to borrow from (you put in, they take out, subsequently forget to replace), they have to pay it back somehow. so, theoretically, raising taxes could technically be construed as paying back the borrowed funds from past projects. also, i do not think taxes should just be raised, but the maximum rate on taxable earnings should (it maxes out at just over $100,000 right now. that means a person making $105,000 and $750,000 are in the same social security tax bracket).

 

Your post was pretty solid but not enough to read it twice.

i get cocky sometimes.

[KJ.]

It's the largest Ponzi scheme in the history of the world.