Lisa Larson
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In my wildest dreams I can't imaging making anywhere near $160,000/year.
Jeff @ItsJeff
Per Elizabeth Warren:
Right now, someone making $160,000/year pays the same amount into Social Security as someone making $16,000,000,000. That doesn’t make ANY sense. By raising the cap on payroll taxes for the wealthy, we can increase Social Security by $200/month and fund the program through 209
10:14 PM - Feb 25, 2023
10:23 PM - Feb 25, 2023
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Texpat Nutmegger
A
In response to Lisa Larson.
Warren used that particular figure for a reason; it's the current cap. People who earn more than that don't pay anything additional into #SocialSecurity . Her point is that the rich aren't contributing at the same percentage as everyone else.
https://faq.ssa.gov/en-US/...
10:40 PM - Feb 25, 2023
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Lisa Larson
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Thank you for that explanation. Of course, now I'm even more pissed off, but it's more clear to me why. ;)
In response to Texpat Nutmegger.
10:44 PM - Feb 25, 2023
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Texpat Nutmegger
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In response to Lisa Larson.
You're welcome. I only learned about the cap a couple of years ago. Imagine if top earners had to pay the same withholdings % as everyone else.
What makes me mad is the GOP calling it an "entitlement", like it's not OUR money. I've been paying in since age 16 & can probably never retire...
10:55 PM - Feb 25, 2023
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Texpat Nutmegger
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In response to Texpat Nutmegger.
...because I don't earn enough to live on my Social Security alone when I hit retirement age.

Meanwhile, Congress gets lot of perks.

https://www.forbes.com/sit...
11:01 PM - Feb 25, 2023
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