I wonder how much of my earnings have been taken out for SS over the course of my life. I should check that and see.Man, I’ve been told here numerous times that social security is sooo much better than investing privately. Who knew better meant less benefits laid out unless taxpayers got out on the hook for more money to fund it.
And to think, the other way of investing for retirement would double your money on average every 7 1/2 years.
I mean, I don't really care about kids that aren't in a career yet earning too little to contribute. I care about the earners over $176.1k who are contributing less of a percentage that the rest of us.
Equity vs equality
I like that idea!
See, I like that!
Or maybe those that don’t need a safety net could write a note and forego all their future benefits and put them back into the social security pot.
Here's one problem with that. Right now, you are living the life of luxury and don't foresee needing any SS. So, you sign the note turning it all back to the system.
Excellent question sir! I’ve had that same type of question with no answer (not to you cause you had the same thoughts as me) about wealth taxes and this type of scenario coming up.
Hmmm, that is a good question. I suppose they could set it up like disability where you could apply for it back???
There are lots of people who retire with, let's say, several million in retirement thinking...everything is great. They then live longer than expected...then end up in a nursing home for a number of years. After a while, all of it is gone.
