Are you willing to pay a little more to keep SS solvent (social security, state)
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The last governamnt hearing from experts on SS were the breaux commissio and it wasn;t jusapyg alittle more from their conclusions.Plus the fact that SS isn't the onl;y problem program and is easy compared to medicare and medicaid which will have increased roll numbers with new healthcare law.
As someone eligible now to file for SS but who won't probably do that for three years more .... my thought is I've paid my 'dues' already. Let those who follow contribute more or reasonably change the eligibility requirements for them.
No, because whatever money we pay in "to Social Security", like our most recent 2% increase, I don't really believe it is going toward SS. The government took all the money in SS fund before, so why should I believe that they aren't going to continue doing that. Please don't get sucked into believing this new tax money is being stored in a SS lockbox somewhere!
Congress TEMPORARILY reduced the employee side for 2011 and 2012 to keep the economy going during the recovery. They've now been reinstated. Interestingly, the economy showed a slight slowdown in Jan., although I don't hear my son/dil complaining about anything, yet.
Yes, the government needs that money to pay current SS benefits AND its other bills.
Yep it just a temporary holiday that was used to get people to spend the money as stimulus. It was not renewed and we are back to rate previous to the holiday.SS has never been i a lockbaockas by law the governamnt can borrow what doesn't go out and give a IOU of rit at arted of interest they decide.
I think the younger folks would have good grounds for complaint if the payroll tax rate were to be raised again, even though it hasn't been raised for a long time. They could say, with justification, that we older generations got a better deal than they are getting because their retirement benefits will not go up but they will be paying more for them. Already, their SS full retirement age is set at 67 and could possibly be raised again before some of them reach it.
Yet all that was not a conscious attempt to discriminate against the young. It is the result of demographics (birth rates). As a nation we are all between a rock and a hard place here. For one, I would be glad to give up my small SS retirement benefit ($149 gross per month) if it would help keep the system solvent, but I would fight tooth and nail to keep my Medicare eligibility.
No, at least not with the way the system is set up now. Ask me when it's set up in individual accounts that the politicians can't touch. Ask me when Congress doesn't exempt itself from participating.
No, at least not with the way the system is set up now. Ask me when it's set up in individual accounts that the politicians can't touch. Ask me when Congress doesn't exempt itself from participating.
Why does this stupid rumor never go away? Congress is not exempt!!
They way I look at it, I am already doing that..85% of my SS income is being
taxed because I make more than 34K investment income:
"Your Social Security benefits are subject to taxation if your income exceeds certain thresholds. In general, one-half of your Social Security payments plus all of your other income from other sources, including investment interest income, must not exceed $25,000 if you're single or $32,000 if you're married. If this threshold is exceeded, then 50 percent of your Social Security benefits are taxable as ordinary income, at the time of publication. If your income exceeds $34,000 as a single person or your combined income exceeds $44,000 when you're married, then 85 percent of your Social Security benefits are taxed as income."
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