I just now took a look at a U.S. News and World Report article from January 10, 2024 that states that any income over $168,600 is not taxable for social security. So by exempting almost all local, municipal, and state employees and not taxing the high salaried income earners there is a bunch of money not available to shore up the system.
I don't blame the young folks for being sore about paying into a system that is on the edge of collapse.
How's this for a discussion point?:
The average Social Security payment is $1,666.49/month before income tax. That's $19,998/year that they paid in years ago.
The average family has ~2kids and receives tax breaks in the form of deductions and credits of $9,910/child, or $19,820, on the back of the system.
Tell me again about young folks being sore...
