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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
Joined: Dec 2008
Eastern Shore of Maryland
HobbieTrapper Online happy OP
"Chippendale Trapper"
HobbieTrapper  Online Happy OP
"Chippendale Trapper"

Joined: Dec 2008
Eastern Shore of Maryland
Originally Posted by KeithC
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
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385175
04/11/25 06:12 PM
04/11/25 06:12 PM
Joined: Oct 2020
IL
I
ILcooner Offline
trapper
ILcooner  Offline
trapper
I

Joined: Oct 2020
IL
all their press releases now on X

Old people going to figure that one out in no time!

https://thehill.com/homenews/admini...ministration-social-platform-x-releases/

Last edited by ILcooner; 04/11/25 06:14 PM.
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385177
04/11/25 06:16 PM
04/11/25 06:16 PM
Joined: Oct 2020
IL
I
ILcooner Offline
trapper
ILcooner  Offline
trapper
I

Joined: Oct 2020
IL
Originally Posted by HobbieTrapper
Originally Posted by KeithC
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.
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385180
04/11/25 06:21 PM
04/11/25 06:21 PM
Joined: May 2009
Champaign County, Ohio.
K
KeithC Online content
trapper
KeithC  Online Content
trapper
K

Joined: May 2009
Champaign County, Ohio.
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

Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385190
04/11/25 06:29 PM
04/11/25 06:29 PM
Joined: Dec 2006
ND
M
MJM Offline
trapper
MJM  Offline
trapper
M

Joined: Dec 2006
ND
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."
Re: Social Security, Taxes, Then & Now [Re: KeithC] #8385193
04/11/25 06:32 PM
04/11/25 06:32 PM
Joined: Dec 2006
Oregon
beaverpeeler Offline
trapper
beaverpeeler  Offline
trapper

Joined: Dec 2006
Oregon
Originally Posted by KeithC
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!
Re: Social Security, Taxes, Then & Now [Re: ILcooner] #8385237
04/11/25 07:35 PM
04/11/25 07:35 PM
Joined: Dec 2006
Rodney,Ohio
SNIPERBBB Offline
trapper
SNIPERBBB  Offline
trapper

Joined: Dec 2006
Rodney,Ohio
Originally Posted by ILcooner
[
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.

Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385337
04/11/25 09:03 PM
04/11/25 09:03 PM
Joined: Dec 2006
williamsburg ks
D
danny clifton Offline
"Grumpy Old Man"
danny clifton  Offline
"Grumpy Old Man"
D

Joined: Dec 2006
williamsburg ks
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)
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385361
04/11/25 09:23 PM
04/11/25 09:23 PM
Joined: Mar 2012
Barbour county,WV
O
Oleo Acres Offline
trapper
Oleo Acres  Offline
trapper
O

Joined: Mar 2012
Barbour county,WV
6.2 percent is 6.2 percent whether you make 176,000 or 70,000. After 176,000 you don't pay any.


Otters everywhere ya look
Re: Social Security, Taxes, Then & Now [Re: Oleo Acres] #8385397
04/11/25 09:49 PM
04/11/25 09:49 PM
Joined: May 2010
MN
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
MN
Originally Posted by Oleo Acres
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
Re: Social Security, Taxes, Then & Now [Re: Steven 49er] #8385416
04/11/25 10:45 PM
04/11/25 10:45 PM
Joined: Sep 2011
sometimes PA ME or FL
E
ebsurveyor Offline
trapper
ebsurveyor  Offline
trapper
E

Joined: Sep 2011
sometimes PA ME or FL
Originally Posted by Steven 49er
Originally Posted by Oleo Acres
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.
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385653
04/12/25 10:41 AM
04/12/25 10:41 AM
Joined: Dec 2006
Oregon
beaverpeeler Offline
trapper
beaverpeeler  Offline
trapper

Joined: Dec 2006
Oregon
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!
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385658
04/12/25 10:47 AM
04/12/25 10:47 AM
Joined: May 2010
MN
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
MN
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
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385659
04/12/25 10:50 AM
04/12/25 10:50 AM
Joined: Aug 2010
Asheville, NC
C
charles Offline
trapper
charles  Offline
trapper
C

Joined: Aug 2010
Asheville, NC
Many of us forget that SS is more than a pension plan. It also protects the disabled, widowed, and orphans.

Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385661
04/12/25 10:51 AM
04/12/25 10:51 AM
Joined: May 2010
MN
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
MN
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
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385663
04/12/25 10:56 AM
04/12/25 10:56 AM
Joined: Dec 2010
Armpit, ak
D
Dirt Offline
trapper
Dirt  Offline
trapper
D

Joined: Dec 2010
Armpit, ak
You have got too much "ability" Steve. I'm sure all the people with" need" personally thank you every day. smile


Who is John Galt?
Re: Social Security, Taxes, Then & Now [Re: Steven 49er] #8385710
04/12/25 12:32 PM
04/12/25 12:32 PM
Joined: Dec 2006
Oregon
beaverpeeler Offline
trapper
beaverpeeler  Offline
trapper

Joined: Dec 2006
Oregon
Originally Posted by Steven 49er
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!
Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385723
04/12/25 01:14 PM
04/12/25 01:14 PM
Joined: May 2010
MN
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
MN
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
Re: Social Security, Taxes, Then & Now [Re: beaverpeeler] #8385725
04/12/25 01:17 PM
04/12/25 01:17 PM
Joined: Dec 2007
40 years Alaska, now Oregon
A
alaska viking Offline
"Made it two years not being censored"
alaska viking  Offline
"Made it two years not being censored"
A

Joined: Dec 2007
40 years Alaska, now Oregon
Originally Posted by beaverpeeler
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.

Re: Social Security, Taxes, Then & Now [Re: HobbieTrapper] #8385736
04/12/25 01:34 PM
04/12/25 01:34 PM
Joined: Dec 2006
Oregon
beaverpeeler Offline
trapper
beaverpeeler  Offline
trapper

Joined: Dec 2006
Oregon
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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