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Hoyt

(54,770 posts)

5. That does help, but not as much as some think because benefits

Reply to slater71 (Original post)

Fri Sep 6, 2019, 02:43 PM

Sep 2019

go up too.

And, it is roughly a 12.5 percentage point increase in taxes needed for other things like healthcare, education, jobs, climate change, deficit and debt reduction, etc.

I suspect we will end up with some smaller increase in SS tax, with a compression of benefits, as a short-term solution.

Unfortunately, there are not a lot of simple solutions to our problems.

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We can stop the social security money problem. [View all] slater71 Sep 2019 OP

+1000 Meadowoak Sep 2019 #1

Yup. Tax those millionaires! Joe941 Sep 2019 #2

I believe the idea is that since there's a cap on what Social Security pays out when you retire mr_lebowski Sep 2019 #3

It's a bullshit argument, because plenty of people pay into SS their entire lives stopbush Sep 2019 #10

It does not favor the rich, because they get a much lower spooky3 Sep 2019 #4

That does help, but not as much as some think because benefits Hoyt Sep 2019 #5

The greedy will angleshoot whatever, and that is the real problem! Brainfodder Sep 2019 #6

As long as the rich run our government FiveGoodMen Sep 2019 #7

That's been my dream financial system fix forever. lark Sep 2019 #8

I think they've done analysis of this in the past NewJeffCT Sep 2019 #9

The cap should be raised, probably to about $250k or so... Wounded Bear Sep 2019 #11