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Fixing SS should be easy. Simply tax all payroll income, not just the first X dollars (this may actually lower the overall SS tax rate), and add a means test that would reduce benefits for wealthier retirees - e.g., phase it out for anyone whose annual income (including other retirement plans) is over 4x the poverty level.
I just need to know the rationalization, I work hard, educate myself and make something of my life, now the fix is to tax all my earnings and pay in thousands of dollars for SS yet when I retire, someone with rose colored glasses says I get nothing back of what I paid in, cause it's not fair? If that's the case, why work hard, as there's no incentive.
I just need to know the rationalization, I work hard, educate myself and make something of my life, now the fix is to tax all my earnings and pay in thousands of dollars for SS yet when I retire, someone with rose colored glasses says I get nothing back of what I paid in, cause it's not fair? If that's the case, why work hard, as there's no incentive.
Thus the modern view of the world and life as predicted by Ayn Rand.
Ok so the world can understand, I do but hopefully they do. You have a high skill set which is in demand. You have a high security clearance which is in demand so you have limited job competition and a much in demand skill set. It is hard to see the government doing much out sourcing overseas of work that requires a security clearance. Good for you and hopefully you will be career a model for others just starting out. Are you in the DC area if so finding decent housing there for 168K is a joke.
Those who have the skills and wisdom to develop in demand skill sets and continue to develop them. Also if he was a 1099 he was responsible for the full payroll tax and had no fringe benefits etc etc. you mention buying a nice house for 168k. You might want to ask him where in the country he was employed and what housing cost there were. That is the relevant reality not yours. Another question for you is why you think his working salary is tax free? Just inquiring because I didn't pick that up and want to.
I earned that salary training military and police forces in the middle east. Away from my family for 18 months, with 2, 30 day visits home. Some of it was tax free, some of it was not.
I did what I thought was necessary to provide the best possible life I could for my family, which was making enough money so that my son could graduate from college debt free. That was the only way I could see to setting him on a path to success without an enormous debt hanging over his head.
Ok so the world can understand, I do but hopefully they do. You have a high skill set which is in demand. You have a high security clearance which is in demand so you have limited job competition and a much in demand skill set. It is hard to see the government doing much out sourcing overseas of work that requires a security clearance. Good for you and hopefully you will be career a model for others just starting out. Are you in the DC area if so finding decent housing there for 168K is a joke.
I am not. I live in SC, where housing is actually affordable. We already had our home, so I did this for other reasons. See my other post.
I earned that salary training military and police forces in the middle east. Away from my family for 18 months, with 2, 30 day visits home. Some of it was tax free, some of it was not.
I did what I thought was necessary to provide the best possible life I could for my family, which was making enough money so that my son could graduate from college debt free. That was the only way I could see to setting him on a path to success without an enormous debt hanging over his head.
Your last sentence says it all. Says it all and thus you reaped the fruit of your choices. That's the problem after 30-40 years some folks who thought they were the king 40 years ago are finding out that they aren't. 99% of jocks at age 17 are ex jocks within 7 years. Most geeks are still geeky after thirty years and getting paid well to do so. You evaluated and made decisions others didn't and now enjoy.
You retired? If so congrats you have done it well. If not you have still done it well.
Yes, I retired. Working again at another government job. Thank you.
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