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|  Re: Social Security, Taxes, Then & Now
[Re: KeithC]
 #8385172 04/11/25 06:09 PM
04/11/25 06:09 PM
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| Joined:  Dec 2008 Eastern Shore of Maryland
HobbieTrapper
  OP "Chippendale Trapper"
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|  OP "Chippendale Trapper"
 
 Joined:  Dec 2008
 Eastern Shore of Maryland
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There's got to be a better way to protect old people, who can no longer work, who don't have family, who will help them. 
 Keith
With all the warnings 40 years ago I find it hard to believe folks approaching retirement don’t have a plan B. 
 -Goofy
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385177 04/11/25 06:16 PM
04/11/25 06:16 PM
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| Joined:  Oct 2020 Southern Indiana
IN cooner
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 Joined:  Oct 2020
 Southern Indiana
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There's got to be a better way to protect old people, who can no longer work, who don't have family, who will help them. 
 Keith
With all the warnings 40 years ago I find it hard to believe folks approaching retirement don’t have a plan B.pensions...but those are ancient history now.  SS is a safety net and we need to support it.  need to eliminate the max income range that it's withheld on -- $176K in 2025 and $168k in 2024.   High earners need to pay their share....
Last edited by ILcooner; 04/11/25 06:17 PM.
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385190 04/11/25 06:29 PM
04/11/25 06:29 PM
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| Joined:  Dec 2006 ND
MJM
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 ND
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 How high would SS payments be and how low taxes be if it wasn't being used by our representatives as a slush fund?    
Last edited by MJM; 04/11/25 06:30 PM.
 
 "Not Really, Not Really"
 Mark J Monti
 "MJM you're a jerk."
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|  Re: Social Security, Taxes, Then & Now
[Re: KeithC]
 #8385193 04/11/25 06:32 PM
04/11/25 06:32 PM
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| Joined:  Dec 2006 Oregon
beaverpeeler
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 Joined:  Dec 2006
 Oregon
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High earners pay much more than their share to subsidize all the losers. Equal under the law should mean no one should have to pay more taxes than anyone else. 
 I don't believe anyone should starve or be denied basic medical care, but everyone should have to contribute. Those that won't contribute should not be living in comfort.
 
 Keith
I'm doing my part not to be too comfortable in my old age. 
 My fear of moving stairs is escalating!
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|  Re: Social Security, Taxes, Then & Now
[Re: IN cooner]
 #8385237 04/11/25 07:35 PM
04/11/25 07:35 PM
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| Joined:  Dec 2006 Rodney,Ohio
SNIPERBBB
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 Joined:  Dec 2006
 Rodney,Ohio
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[High earners need to pay their share....
Or maybe get rid of payroll taxes and let companies or the employees drop that savings into a tax free,truly tax free not just deferred ,retirement account.  If you make 50k gross a year, that's putting 650o or so dollars into a retirement account. If that's ilvested into almost anything that gets any kind of positive return, you'll get way more money to live on than you would of off SS. |  |  |  
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385337 04/11/25 09:03 PM
04/11/25 09:03 PM
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| Joined:  Dec 2006 williamsburg ks
danny clifton
   "Grumpy Old Man"
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 Joined:  Dec 2006
 williamsburg ks
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Anybody else wonder why its so complicated? 
 Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
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|  Re: Social Security, Taxes, Then & Now
[Re: Oleo Acres]
 #8385397 04/11/25 09:49 PM
04/11/25 09:49 PM
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| Joined:  May 2010 MN
Steven 49er
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6.2 percent is 6.2 percent whether you make 176,000 or 70,000. After 176,000 you don't pay any.That is true but the return on investment isn't the same. Social security is a scam to high earners.  If I make $50,000 a year and Danny Clifton makes $100,000 a year, he's not going to draw twice as much as I will. 
 "Gold is money, everything else is just credit" JP Morgan
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|  Re: Social Security, Taxes, Then & Now
[Re: Steven 49er]
 #8385416 04/11/25 10:45 PM
04/11/25 10:45 PM
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| Joined:  Sep 2011 sometimes PA ME or FL
ebsurveyor
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 Joined:  Sep 2011
 sometimes PA ME or FL
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6.2 percent is 6.2 percent whether you make 176,000 or 70,000. After 176,000 you don't pay any.That is true but the return on investment isn't the same. Social security is a scam to high earners.  If I make $50,000 a year and Danny Clifton makes $100,000 a year, he's not going to draw twice as much as I will. Or if you have averaged something less the $160,000 for the best 35  years you worked, you could collect as much as $5,108 per month. average a million a year and you could get the same $5,108 per month. In short: The average Social Security benefit was just $1,979 per month for retired workers in January 2025. But Social Security's wealthiest beneficiaries get the max monthly benefit in 2025 of $5,108 per month. 
Last edited by ebsurveyor; 04/11/25 10:47 PM.
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385653 04/12/25 10:41 AM
04/12/25 10:41 AM
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| Joined:  Dec 2006 Oregon
beaverpeeler
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 Joined:  Dec 2006
 Oregon
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I don't think the goal was to be fair to every taxpayer.  If I made a 100,000 a year I may be OK with some of my FICA contribution going to a disabled vet that mostly just sold stuff at flea markets during the productive years of his life. 
Last edited by beaverpeeler; 04/12/25 10:44 AM.
 
 My fear of moving stairs is escalating!
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385658 04/12/25 10:47 AM
04/12/25 10:47 AM
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| Joined:  May 2010 MN
Steven 49er
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 Joined:  May 2010
 MN
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A disabled vet is one thing, but people that are Hi, they're too lazy to work muchor . Want to live a simple lifestyle. . It isn't hard to make $100,000 in this day and age and relatively easy to make 50 or 60,000
 
 "Gold is money, everything else is just credit" JP Morgan
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385661 04/12/25 10:51 AM
04/12/25 10:51 AM
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| Joined:  May 2010 MN
Steven 49er
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 Joined:  May 2010
 MN
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I got to ask Carl, have you ever made $100,000?
 If not, you should try it sometime. It's really fun seeing the amount of money they take out of your check.
 
 "Gold is money, everything else is just credit" JP Morgan
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|  Re: Social Security, Taxes, Then & Now
[Re: Steven 49er]
 #8385710 04/12/25 12:32 PM
04/12/25 12:32 PM
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| Joined:  Dec 2006 Oregon
beaverpeeler
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 Joined:  Dec 2006
 Oregon
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I got to ask Carl, have you ever made $100,000?
 If not, you should try it sometime. It's really fun seeing the amount of money they take out of your check.
 
 
My gross income is generally over 100K but never had a net anywhere near that.  I get it...not fun to see how much money is taken away.
Last edited by beaverpeeler; 04/12/25 12:35 PM.
 
 My fear of moving stairs is escalating!
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385723 04/12/25 01:14 PM
04/12/25 01:14 PM
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| Joined:  May 2010 MN
Steven 49er
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 Joined:  May 2010
 MN
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Not fun?
 It's criminal
 
 And then to top it off one hopes he can get some of it back with almost zero ROI
 
 "Gold is money, everything else is just credit" JP Morgan
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|  Re: Social Security, Taxes, Then & Now
[Re: beaverpeeler]
 #8385725 04/12/25 01:17 PM
04/12/25 01:17 PM
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| Joined:  Dec 2007 40 years Alaska, now back to O... 
alaska viking
   "Made it two years not being censored"
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|   "Made it two years not being censored"
 
 Joined:  Dec 2007
 40 years Alaska, now back to O...
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My wife did not work enough quarters (for others) to qualify for benefits but she does get half of what I would have received at my full retirement age even though i waited some.  If I croak before she does she will no longer get half, she will get my whole SS monthly benefit.
 Also, if my ex wife would have been a big wage earner (and we were together at least 10 years) I could have opted to take half her SS benefit instead of my own if it was more.
 My understanding on "Survivor Benefits" is the surviving spouse will receive 70% of the benefits the deceased received before death. A pretty significant hit. 
 Just doing what I want now.
 
 
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|  Re: Social Security, Taxes, Then & Now
[Re: HobbieTrapper]
 #8385736 04/12/25 01:34 PM
04/12/25 01:34 PM
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| Joined:  Dec 2006 Oregon
beaverpeeler
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 Joined:  Dec 2006
 Oregon
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I just did a quick check to make sure I'm right, but the survivor gets 100% of the deceased spouses benefits if they wait until they're at full retirement age. 
 My fear of moving stairs is escalating!
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