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re: Now Social Security could be depleted this decade

Posted on 4/23/20 at 10:25 am to
Posted by Taxing Authority
Houston
Member since Feb 2010
57517 posts
Posted on 4/23/20 at 10:25 am to
quote:

They won't. They will raise the exempt number upwards and will raise the eligibility age.
Nah. They'll means test it first. Democrats have been dreaming of that for decades. More money to buy votes. They can tell the moochers "Look, we're taking from those greedy 'rich' people to help you".

And... it's a backdoor way to tax 401Ks. Raising taxes specifically on 401Ks is not politically pallatable. So instead they'll just cut your SS benefits if you have a fat 401K.
Posted by aTmTexas Dillo
East Texas Lake
Member since Sep 2018
15551 posts
Posted on 4/23/20 at 10:29 am to
quote:

They'll means test it first.

What about those of us who are retired and drawing benefits? I'd be means tested out but I get my mailbox money every month already. I took it as soon as I could.

I'd go with raising the taxable amount and raising the eligible age now that I'm getting my SS. I prefer to be grandfathered in to continuing benefits as I receive them now.

Signed,
Boomer
Posted by Keltic Tiger
Baton Rouge
Member since Dec 2006
19473 posts
Posted on 4/23/20 at 10:33 am to
An old timer here & am not embarrassed at all to finally be getting BACK my money that was taken out of my paychecks for 50 + yrs.What does piss me off is that Congress has its own, lots better, retirement program & those politicians could care less about both the mandatory payroll deductions & viability of SS in the future. They also have their own ,lots better, health plan.
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