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re: Now Social Security could be depleted this decade
Posted on 4/23/20 at 10:56 am to Indefatigable
Posted on 4/23/20 at 10:56 am to Indefatigable
quote:If you don't care about 15% of your lifetime earnings being taken from you with no return I have no idea how to help you.
I never expected to see one cent of SS, so I don't really care when it fails.
2
Posted on 4/23/20 at 11:05 am to Taxing Authority
quote:
If you don't care about 15% of your lifetime earnings being taken from you with no return I have no idea how to help you.
I did not say that I don't care that its being taken from me without any chance of my ever getting it back. I do.
But what am I supposed to do about it, exactly? I will never, ever see a dime of it and the same is true for most younger people. It will either fail completely or payouts will end up being restricted to the point that anyone who held a decent job and invested wisely will get nothing.
"caring" has nothing to do with it.
This post was edited on 4/23/20 at 11:06 am
Posted on 4/23/20 at 11:56 am to Taxing Authority
quote:
If you don't care about 15% of your lifetime earnings being taken from you with no return I have no idea how to help you.
That's why it will never be means tested. It makes no sense to give away another 15% of your income to someone else without personal benefit. In that case it becomes another form of welfare to the middle and below middle class. Take a 35% tax bracket person and then add another 15% to the tax burden? No way!
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