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re: Social Security and Medicare will be Insolvent in the 2030s
Posted on 10/5/23 at 8:38 am to BugAC
Posted on 10/5/23 at 8:38 am to BugAC
I suggested this a few weeks ago, what about an elective extra Social Security tax that could double your benefits if you elected to have the extra cash taxed and it would build a cash balance like an IRA and if you die before 62 the money goes to your heirs or can be used to start taking supplemental income before reaching full retirement age. Also eligible participants would be excluded from the government mandated cuts coming.
This post was edited on 10/6/23 at 10:25 am
1
Posted on 10/5/23 at 8:41 am to Tarps99
quote:
I suggested this a few weeks ago, what about an elective extra Social Security tax that could double benefits and build a cash balance like an IRA and if you die before 62 the money goes to your heirs or can be used to start taking supplemental income before reaching full retirement age. Also eligible participants would be excluded from the government mandated cuts coming.
Sounds like what Bush proposed (or close to it). A good idea, but doesn't solve the coming insolvency.
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