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| The Social Security tax that taxes SS benefits!! | |
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by tooldtocare
» Sat Oct 28, 2017 11:08 am
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tooldtocare
Posts: 44
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The Social Security tax that taxes SS benefits!!
I paid the SS tax & Medicare tax all of my working life and never expected what happened when I turned 67 and started receiving SS benefits. I have to pay an income tax on my SS benefits !!! This practice must STOP!!! Taxing me on my SS tax benefits is a DOUBLE TAX!!! We must get together and STOP this double tax !! Do you agree ? (:- |
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| Re: The Social Security tax that taxes SS benefits!! | |
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by Imaginos1892
» Sat Oct 28, 2017 12:08 pm
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Imaginos1892
Posts: 1332
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Right, let's make Social Security go broke even sooner.
Back in 1935, Social Security was intended to be a little supplement for those few people who lived a few years past 65. It was never intended to be everybody's retirement plan. Now you are expecting to get $2,000 a month for 25 years or more. Did you pay $600,000 into the system while you were working? You most likely paid around $200,000. So why do you think you are owed $600,000 now? Multiply that by 42 million and you might begin to see the problem. Social Security is unsustainable in its present form. Everybody knows it, nobody will admit it, and NONE of our chickenshit politicians will dare to even speak of doing what has to be done to fix it. No, they'll just sit back and watch it implode, protest that 'it's not my fault' and go collect the $80,000 to $140,000 guaranteed pensions they have voted for themselves. This probably belongs in Politics. ——————————— Why do so many idiots believe that the way to solve our problems is to go on electing the same shitheads that caused them? |
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| Re: The Social Security tax that taxes SS benefits!! | |
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by tooldtocare
» Sat Oct 28, 2017 12:32 pm
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tooldtocare
Posts: 44
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The social security program is the most successful government program ever created. It is so successful that our government has been borrowing from the Social Security trust fund to the tune of $3,000.000,000.000,000 dollars. That's three (3) trillion dollars and still today our government continues to "borrow" from the SS trust fund.
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| Re: The Social Security tax that taxes SS benefits!! | |
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by Imaginos1892
» Sat Oct 28, 2017 12:56 pm
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Imaginos1892
Posts: 1332
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Wow. I am damn near speechless. I don't know what you've been smokin' but it must be some REALLY good shit.
Oh, they've 'borrowed' far more than that. Problem is, just to pay the existing over-65 folks will take more than 15 trillion dollars, leaving an estimated deficit of over 9 trillion dollars. More old folks turn 65 every day, making the real long-term deficit closer to 30 trillion dollars. To be paid by a government that is already over 20 trillion dollars in debt and digging itself deeper every day. I will be applying for Social Security in a few years, and I will take what I can get, but I don't expect to live on it. I have saved money, made investments, bought property, and when Social Security implodes I won't be out protesting in the streets. I'll be watching the protesters, saying 'I told ya so'! This definitely belongs in Politics. ——————————— If you give politicians money to pay the government's debts, they will spend it and borrow more. |
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| Re: The Social Security tax that taxes SS benefits!! | |
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by tooldtocare
» Sat Oct 28, 2017 1:16 pm
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tooldtocare
Posts: 44
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It really is and now it is time to smoke some mooore!! later (:- |
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| Re: The Social Security tax that taxes SS benefits!! | |
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by Daryl
» Sat Oct 28, 2017 6:27 pm
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Daryl
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Many developed countries have an automatic aged pension for all citizens regardless of assets and income, after a qualifying age is reached. This used to be the case here in Australia, but changed back in the late 1940s. In the 1990s we brought in universal supperannuation paid by employers out of foregone wage rises. I'm retired but am fully self funded as I exceed both the income and assets cap.
Bugs me somewhat, as I'm still paying tax on income recieved from my investments, that were bought out of my after tax money, so yes it is double taxing. Meanwhile someone who has never worked gets subsidised housing, and a married pension of $34,000 a year. So I get no return out of many hundreds of thousands of tax I paid, while they get a free ride. |
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| Re: The Social Security tax that taxes SS benefits!! | |
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by Annachie
» Sat Oct 28, 2017 7:54 pm
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Annachie
Posts: 3099
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Nah, income on investments is still income, regardless of what paid for them, so yeah taxed.
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You are so going to die. :p ~~~~ runsforcelery ~~~~~~~~~~~~~~~~~~~ still not dead.  |
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