re: Sanders, set to run social security policy, says he plans to increase benefits by $2400

I believe this is the reason for the boomer hate. No remorse in ruining the generation responsible for every problem imaginable

quote:

---

Won't that piss off the boomer haters.

---

I don't need social security if they really want to take it. And I have to start taking required minimum distributions in a little more than a year. I can live on those. And if any is SS is left, I can give it to a charity.
What I'd advise to you is to try and make less money in your career so that your retirement savings fall short and you need social security. I'm sure you will be happy.

quote:

---

They will consider anyone with a 401k or net worth over a million a millionaire and take it from us.

---

That will raise some hackles considering they set up all the 401K and IRA shite so we'd have money in retirement.

Wonder if a conservative leader will rise up and build a movement to counter this? It would be nice if state officials ands politicians did their work to make life better.

Plus... means testing.

Because, sure you've paid in your entire life and likely paid more into the system than 90% of the people that will collect benefits, but you were too responsible in building assets and saving for your future so frick you.

Yes the Democrats are real concerned with eliminating fraud but your FICA tax will increase by that amount I can guarantee that much

How much of that increase will go into premiums for Medicare B, C, and D?

Probably all of it!

So In think the limit for SS deductions is $192,000. Social Security needs to be fixed. What's wrong with a payroll tax for SS say up to $400,000? AI says increasing the upper income limit beyond that generates far less income. I wonder why? But raising the threshold to $400K generates 120 billion a year with a 358 billion shortfall.

Beyond the current numbers, I guess they could enact a surcharge for SS above a certain amount.

If for example for every 10 million in income earners would have to pay a million or 10%. Well, that would raise another $54 billion a year so a 300 billion shortfall.
Beyond this extreme earners will likely have wealth tied up in stock and take little in the way of income. Government would have to go in and force Bezos and Musk to surrender part of their stock/wealth annually which would be turned into SS "lock box" money. If the government were to take 10% of the year over year wealth increase that would generate just under $500 billion. Billionaires would cover it. In fact Bezos and Musk could cover it.

You can see why Bernie likely wants to increase the threshold limit and tax the hell out of billionaires wealth. Billionaires will likely come up with some way to circumvent such a scenario.

Do I think this is fair? No. Do I think it will be discussed? Yes

If the majority rules can it happen? Yes.

Or, answering my own post, all earners and employers pay an additional 2% or an increase of 4%. AI says that will cover the funding.

If you want it fixed, you are going to have to accept higher payroll taxes.

I'm retired so I no longer pay that tax.

Increasing Social Security benefits should be a priority since it’s a tax placed on workers that they have no way of avoiding. You could easily pay for it if you greatly reduced the money that goes into funding programs for deadbeats like medicaid and welfare. There are millions of able bodied adults who could pay for their own shite if they got off of their arse and went to work. Instead, our politicians cater to them to buy votes every 2-4 years.