Booster4324 Posted March 15, 2009 Share Posted March 15, 2009 True, but here's the deal with SS. There is a cap on the benefit too. I know you're not talking about that but if you compare the percentage benefit to someone who made $250k all their life to someone who made $65k it's a lot smaller. That's why it's capped. And there are an awful lot of self employed people making good incomes that have to pay the full 15% where the W-2 employee pays only half. I understand the benefit is capped too (I was unaware about the self employed bit) but when we are unlikely to ever receive a single benefit from it, it simply becomes another tax. There are tons of taxes that impact the poor and middle class more than they do the well off and above. Only as you grow wealthier, you tend to make more money off your investments than your actual income. So it isn't as simple as you guys try to make it, and it isn't as one sided either. Link to comment Share on other sites More sharing options...
finknottle Posted March 16, 2009 Share Posted March 16, 2009 The payouts on SS are 'progressive.' They take your contributions and assign you an interest rate based on how much you contributed. For the bottom contributors (you know who you are), I think it is something like 4%. For people who max out, the return is something like negative .2%. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 16, 2009 Share Posted March 16, 2009 The payouts on SS are 'progressive.' They take your contributions and assign you an interest rate based on how much you contributed. For the bottom contributors (you know who you are), I think it is something like 4%. For people who max out, the return is something like negative .2%. That's why I whis they'd just let me keep my 15% and invest it where and how I wish. I'm a little bit better at it than they are. Link to comment Share on other sites More sharing options...
manateefan Posted March 17, 2009 Author Share Posted March 17, 2009 If it means that little to you, please feel free to return to the person who actually earned it for you. Who earned it for me? AIG whose officers got a bonus after their bailout. Citibank? Their bigshots got their bonus. I have worked for 34 years and $27 every two weeks won't help. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 17, 2009 Share Posted March 17, 2009 Who earned it for me? AIG whose officers got a bonus after their bailout. Citibank? Their bigshots got their bonus. I have worked for 34 years and $27 every two weeks won't help. You're getting money that will ultimately be funded by the top 5% of wage earners in this country. Those bad wealthy people will soon get less by year's end so you can get more right now. If you don't like the money, send it back. It's just that simple. But continue to rail against those big, bad AIG/Citibank/corporate America bullies. Because that's precisely what this administration is counting on you doing. After all, aren't they the reason that $54/month means nothing to you? Link to comment Share on other sites More sharing options...
manateefan Posted March 18, 2009 Author Share Posted March 18, 2009 If it means that little to you, please feel free to return to the person who actually earned it for you. I earned it with my 40 hour work week. Nobody earned it for me. It doesn't help a lot. Especially when you learn that you will pay for it come April 15. Any CPA can explain iit to you. That $27 every two weeks can make the difference between a refund or owning on April 15. I also want to let you know that I have not had a raise in wages in 2 years. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 18, 2009 Share Posted March 18, 2009 I earned it with my 40 hour work week. Nobody earned it for me. It doesn't help a lot. Especially when you learn that you will pay for it come April 15. Any CPA can explain iit to you. That $27 every two weeks can make the difference between a refund or owning on April 15. I also want to let you know that I have not had a raise in wages in 2 years. If you think the government is giving you that extra fifty bucks a month out of the goodness of its heart without taking it from someone else, then maybe you should call the White House and tell them it's not enough. Let us know how that works out for you. Link to comment Share on other sites More sharing options...
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