I make too much money? Really??? (Paris, Mart: low income, apartment, rental)

[marksmu]

Originally Posted by Dopo

I will feel bad for them when the government gets rid of the cap on social security tax.
They pay ZERO social security on anything over $113,000.

Its capped because the pay upon retirement is capped. Social Security is intended to be retirement pay b/c there are too many idiots in this country who think the government should provide for them upon retirement. Live check to check, zero personal responsibility.

I would be ecstatic if the government would allow me to opt out of Social Security with a blanket waiver of all government services now. I would even be happy to pay that with after tax money at my marginal rate...but then we could not redistribute the funds.

Social Security that I pay into wont exist when I am old....I feel ZERO obligation to provide for the generation that has so effectively destroyed so many of the principles this country was founded upon.

[Dopo]

Originally Posted by marksmu

I would be ecstatic if the government would allow me to opt out of Social Security with a blanket waiver of all government services now. I would even be happy to pay that with after tax money at my marginal rate...but then we could not redistribute the funds.

I wish I had a dollar for every person that has said that and ends up living off of social security.

[Dopo]

Originally Posted by PedroMartinez

Do you also want to raise the maximum benefit so those who put in 50 times more than others will also receive 50 times more when they retire?

The vast majority of people who make a lot of money also pay a lot more in income taxes, property taxes and sales taxes in order to carry a larger burden. If we cap how much they receive back in SS benefits when they retire, we should also cap how much they are taxed on for SS.

Ask Jesus, he's the one that told us that is should be that way


Mark 12:41-44 NIV - The Widow' offering

Spoiler

Mark 12:41-44
New International Version (NIV)

The Widow's offering



41 Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. 42 But a poor widow came and put in two very small copper coins, worth only a few cents.
43 Calling his disciples to him, Jesus said, “Truly I tell you, this poor widow has put more into the treasury than all the others. 44 They all gave out of their wealth; but she, out of her poverty, put in everything—all she had to live on.”

[marksmu]

Originally Posted by Dopo

I wish I had a dollar for every person that has said that and ends up living off of social security.

I max out my 401K, my wife's 401K, and I save 30% of all after tax income for retirement. I live way below my means because I do not want to work forever. I do not have a vacation home or fancy new cars, I do not have big TV's, I do not have fancy clothes, lots of toys, boats, RV's, or any of that junk...I carry zero debt. I have life insurance, disability insurance, and I am well diversified in just about every kind of investment possible, from stocks, CD's, real estate, private lending all the way to raising over 140 head of cattle...I am fiscally conservative, and I do not depend on any single sole source of income.

You would not receive a dollar from me, I am certain that I will never need to live off of social security.

[Lbjen]

All it takes is one serious illness and they'll take it all.

[trele6]

Originally Posted by Lbjen

All it takes is one serious illness and they'll take it all.

ObamaCare removes all of those risks...........

[marksmu]

Originally Posted by Lbjen

All it takes is one serious illness and they'll take it all.

I have health insurance with no maximum benefit, and a $2,000,000 annual limit, the difference between the cost of a serious illness and the inability to pay for it is why you carry disability, though there is no imaginable illness that could bankrupt me.

Even a terminal cancer would be managed through my health insurance and disability...life insurance would ensure that my wife/kids are left well cared for.

[hendersj31]

I am sure, but keep in mind the future of social security does not look good. The worker to beneficiary ratios are lower than ever and are expected to get even lower. This means , obviously that less money is going in, but population increasing means more is going out. Without an excellent reform program, people with a few more decades of work are not going to get back what would be considered proportionate for what they put in.
I doubt Social Security will collapse, but I don't plan on using it as a retirement vessel and am glad I don't have to.

Originally Posted by Dopo

I wish I had a dollar for every person that has said that and ends up living off of social security.

[smuggy_mba]

My friend makes 140K and pays 6K in taxes. He has a bunch of dependents though.

[PedroMartinez]

Originally Posted by Dopo

Ask Jesus, he's the one that told us that is should be that way


Mark 12:41-44 NIV - The Widow' offering

Spoiler

Mark 12:41-44
New International Version (NIV)

The Widow's offering



41 Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury. Many rich people threw in large amounts. 42 But a poor widow came and put in two very small copper coins, worth only a few cents.
43 Calling his disciples to him, Jesus said, “Truly I tell you, this poor widow has put more into the treasury than all the others. 44 They all gave out of their wealth; but she, out of her poverty, put in everything—all she had to live on.”

I missed the part where Jesus said that Caesar should dictate how much each person contributes to the temple treasury. Could you please underline that part for me?