Corporate taxes reduce not only executive compensation, but employee compensation and reinvestment into the business as well.
It is giving a black eye to employees and consumers in order to ensure the executives get one too. Corporate taxes are a stupid system built by stupid, greedy, envious, ignorant people.
Well, I ask again.
Since that hasnāt worked the last 26 times, why will it work this time?
But itās unfair that anyone has more than others, even if they work a lot harder and have made more sacrifices.
But seriously, social security isnāt a retirement plan, itās a safety net for people who didnāt plan for their own retirement. If someone canāt live off social security they can keep working or lower their living expenses, itās their choice.
And just to throw this in.
Means testing is ignorant too.
If I had a dollar for all the people and all the times that imminent/impending death of Social Security has been predicted, I might not need the benefits that this flawed but abiding program provides. Like ACA, the right wing will howl and whine incessantly with claims that there it needs to be illed and replaced, but offer no viable alternatives.
Lolā¦ Yep, lefties fuck something up and expect others to fix it and then whine when they donāt.
And if you followed the thread, I answered that question before you even asked it
And I said
And by that I mean, what he is owed. Because while 15 grand a month is a lot of money for most people, not all that many people have a salary of a millilon a year. And still, that is only 180,000 per year, which they would bitch about getting since it will all be taxed and they are forced to take it. Unless they opt out I guess.
Iām not emotionally invested into the outcome here, because I know that no matter what happens, nobody will be happy.
But I am curious, what do you believe is a workable solution?
I donāt know if means testing is likely to happen, but I do expect some form of greater taxation for dinkier benefits, which is a similar scenario to means testing in a lot of ways.
Again I say that I expect it, not that I prefer it.
Copy railroad retirement or the numerous education retirement systems that are out there.
I looked at my wifeās and HOLY SHIT!!! She had paid minimally into Social Security (part time as a kid and as a young teacher before we were married), but mostly the Missouri Teachers retirement system, there is no comparison as to the difference.
This isnāt brain surgery, that solution is readily available.
For what Iāve paid into social. I would have had a very nice retirement pension.
If they really want to keep it to help the poor, make it a pension but when you die, it goes back to the state
Clinton was actually looking into it.
But when Bush talked about it the economic illiterate retards started crying āthey want to give your retirement to Wall Streetā and nobody has had the balls since then to mention the only viable solution.
I asked ChatGPT to do the math. Donāt forget employers match the social. So 5k per year would be 10k
If you invested $10,000 every year from age 30 through 65 (35 years), and reinvested all dividends into a fund like the Vanguard S&P 500 ETF, hereās what history suggests.
Average annual return
Value at age 65
8%
~$1.72 million
9%
~$2.15 million
10%
~$2.71 million
11%
~$3.42 million
A few points:
So using a 10% historical average, you would retire with approximately $2.7 million.
If you then followed the commonly cited 4% withdrawal guideline, that portfolio could initially support about:
If youād like, I can also show what happens if you:
Obviously this is a highly superior plan.
Which means Congress will certainly decide on something else.
Thereās a flaw in your scenario. Unless compelled to by law via income withholding, nobody would force employers to make their contribution, and weād also have millions and millions of dumbasses that wouldnāt invest, or would invest poorly into bonds (which are about the worst choice at the moment, after almost 20 years of massive digital printing).
Then they would be voting themselves othersā money when they found themselves destitute in retirement.
Then lets use real numbers. The current maximum S/S payment is about $5,200/month, about $62K/year.. If you increase the maximum taxable salary to $1M (5x), the maximum benefit increased 5x is about $26K/month, about $312K/year.
There is no way Congress is going to do that. What they will do is artificially limit the max benefit, which creates essentially the same thing as imposing an added income tax on high earners and giving it to lower earners.
Bingo.
Iām not speaking for KC, who seems to either not understand how this works or is talking out of both sides of his mouth, but the situation you described is the only way raising the income limit on FICA taxes could possibly reduce the problem.
They have to steal more and give out the same.
The assumption is we take the money from social and put it in accounts. Itās to show how much better off we would be.
YOUR SOCIAL SECURITY AND MEDICARE EXPERT!
Retired District Manager, Social Security Administration
Former Family Services Specialist, Department of Welfare
Former Sergeant, United States Marine Corps
University Adjunct Professor of History
Nobody has said anything about imminent/impending death of Social Security has been predicted,
Payouts cannot continue at the current levels in about 6.5 years.
Math is hard.
Sounds great until you have to support those currently on the program. SS is a pay as you go program. Current workers support current retirees. Itās not an investment program.
The use of the word āexpertā to describe this twit is an affront to the English language.
17 minutes of pure, unadulterated, fact free drivel.