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Joined: Nov 2018
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Campfire Tracker
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Campfire Tracker
Joined: Nov 2018
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Sorry Jim but you kind of remind me of some Indian buddies of mine. One day they started giving me crap about gov payments to farmers. I looked them in the eyes and said. So you guys are giving me Schitt about government freebies. Really?
Have a nice day and yes I will continue to take my well deserved SS check. If the feds had not stolen money from the fund it would be solvent. Edk
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Joined: Dec 2013
Posts: 13,068
Campfire Outfitter
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Campfire Outfitter
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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.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Nov 2003
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Nov 2003
Posts: 2,692 |
First of all I didn't make the rules and second of all they have had my money for up to 50 years, that's plenty of time for their investments to cover my retirement checks. Not to mention what about the poor bastards that paid in and died before they could start collecting or shortly there after. There is a serious flaw in your argument. They have not had your money for 50 years. That money was paid out to the previous generation (your parents). The money wasn't invested for the most part, it was paid out as per the original plan where each succeeding generation pays the elderly. The biggest flaws in the system was that it didn't take into account the big jump in life expectancy, or the fact that the boomers (that's me) would not have near enough children to keep the system going. Another huge issue is that almost all municipal, county, and state employees are not paying in, nor are the railroad employees. And when a persons income goes over a certain level the rest is not subject to a SS tax. ever And I personally know millionaires that collect maximum payments. There is no means test. That's what the article I read talked about. Specious at best. I see this all the time. Most folks that argue on these threads don't have a clue hpw the system works, but that doesn't stop the arguments! Understanding SS Trust Funds
You can no more tell someone how to do something you've never done, than you can come back from somewhere you've never been...
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Joined: Nov 2003
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Nov 2003
Posts: 2,692 |
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. Ummm...the benefits are also capped.
You can no more tell someone how to do something you've never done, than you can come back from somewhere you've never been...
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Joined: Dec 2013
Posts: 13,068
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,068 |
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. Ummm...the benefits are also capped. So?
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Nov 2003
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Nov 2003
Posts: 2,692 |
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. Ummm...the benefits are also capped. So? You can't be that dumb...?
You can no more tell someone how to do something you've never done, than you can come back from somewhere you've never been...
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Joined: Nov 2003
Posts: 2,692
Campfire Regular
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Campfire Regular
Joined: Nov 2003
Posts: 2,692 |
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...
You can no more tell someone how to do something you've never done, than you can come back from somewhere you've never been...
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Joined: Feb 2014
Posts: 4,617
Campfire Tracker
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Campfire Tracker
Joined: Feb 2014
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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... I think you had better check on those child tax credit numbers per child.....
"The Ballpark burgers were free, why not eat them?"
- Wabi-
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Joined: Dec 2013
Posts: 13,068
Campfire Outfitter
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Campfire Outfitter
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[quote=Hastings]Tell me again about young folks being sore... Why should they not be sore. I'm 71,I have 3 adult children that had nothing to do with this contract they are in. They are sending our generation including you a payment every month in a system that at best will be drastically curtailed when they reach retirement age. They realize it's a Ponzi scheme and when they get enough political clout they will cancel the contract. I don't blame them one bit for not liking the system.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Nov 2015
Posts: 14,535
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2015
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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... .Gov musta did some changes we got 2 kids and didn’t hardly get schit back this yr
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Joined: Dec 2010
Posts: 19,238
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
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A ridiculously low retirement age and constant increases in the payout.
I suspect the govt forced that on us? A lot of folks bodies are plumb wore out by the time they reach full retirement age. Particularly the ones who did physical labor all their lives. Of course you probably don't have to worry too much about that, seeing as how people as overweight as you tend not to live that long. Particularly ones with a drinking problem.
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Joined: Dec 2010
Posts: 19,238
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
Posts: 19,238 |
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... .Gov musta did some changes we got 2 kids and didn’t hardly get schit back this yr That's all based on income and how many kids you have. I know people who make 30k a year and get 10k back in earned income credit at tax time. Which is like 3-4 times more than they ever paid in.
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Joined: May 2016
Posts: 60,365
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,365 |
A ridiculously low retirement age and constant increases in the payout.
I suspect the govt forced that on us? A lot of folks bodies are plumb wore out by the time they reach full retirement age. Particularly the ones who did physical labor all their lives. Of course you probably don't have to worry too much about that, seeing as how people as overweight as you tend not to live that long. Particularly ones with a drinking problem. Poor triggered baby. Can't kick dogs and brambles now?
I am MAGA.
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Joined: Jan 2012
Posts: 67,016
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,016 |
A ridiculously low retirement age and constant increases in the payout.
I suspect the govt forced that on us? A lot of folks bodies are plumb wore out by the time they reach full retirement age. Particularly the ones who did physical labor all their lives. Of course you probably don't have to worry too much about that, seeing as how people as overweight as you tend not to live that long. Particularly ones with a drinking problem. Oh heyall
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Joined: Jun 2003
Posts: 42,614
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jun 2003
Posts: 42,614 |
Well it's just not so.... It's simple math. The return on your investment of what one puts into SS, is way under the average had one put the same amount into even Bonds, not to mention a 401K/
A good principle to guide me through life: “This is all I have come to expect, standard lackluster performance. Trust nothing, believe no one and realize it will only get worse…”
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Joined: May 2016
Posts: 60,365
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,365 |
Sorry Jim but you kind of remind me of some Indian buddies of mine. One day they started giving me crap about gov payments to farmers. I looked them in the eyes and said. So you guys are giving me Schitt about government freebies. Really?
Have a nice day and yes I will continue to take my well deserved SS check. If the feds had not stolen money from the fund it would be solvent. Edk Have you seen anything of this thread yet? Go back to the first post.
I am MAGA.
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Joined: May 2016
Posts: 60,365
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,365 |
Well it's just not so.... It's simple math. The return on your investment of what one puts into SS, is way under the average had one put the same amount into even Bonds, not to mention a 401K/ Been covered many times. But that's not the point.
I am MAGA.
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Joined: Jun 2003
Posts: 42,614
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jun 2003
Posts: 42,614 |
Well it's just not so.... It's simple math. The return on your investment of what one puts into SS, is way under the average had one put the same amount into even Bonds, not to mention a 401K/ Been covered many times. But that's not the point. Point being?
A good principle to guide me through life: “This is all I have come to expect, standard lackluster performance. Trust nothing, believe no one and realize it will only get worse…”
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Joined: May 2016
Posts: 60,365
Campfire Kahuna
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Campfire Kahuna
Joined: May 2016
Posts: 60,365 |
You will receive benefits and entitlements at a higher rate than you paid in.
I am MAGA.
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Joined: Dec 2010
Posts: 19,238
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
Posts: 19,238 |
A ridiculously low retirement age and constant increases in the payout.
I suspect the govt forced that on us? A lot of folks bodies are plumb wore out by the time they reach full retirement age. Particularly the ones who did physical labor all their lives. Of course you probably don't have to worry too much about that, seeing as how people as overweight as you tend not to live that long. Particularly ones with a drinking problem. Poor triggered baby. Can't kick dogs and brambles now? Hows that fatty liver holding up ? Hahahahahaaa ! Dope.
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