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View Diary: "Saving" Social Security (46 comments)

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  •  CrashingV - why cap gains, interest and dividends (0+ / 0-)

    are not included in SocSec withholding taxes.

    The entire foundation of SocSec is wage insurance, insuring a portion of your wages so that when you reach retirement age you have a reliable source of income. Capital gains, interest and dividends don't stop when you reach retirement age and are income streams unrelated to work, therefore you don't need to "insure" them.

    I do favor raising the annual salary amount subject to withholding to $150,000 and raising it annually until it reaches $200,000 and allowing proportionally higher SocSec payments based on the higher contributions. I do not favor removing the cap or capping the benefits, both of which would end SocSec as we know it and violate every principle upon which it was established.

    "let's talk about that"

    by VClib on Tue Oct 02, 2012 at 06:40:49 PM PDT

    [ Parent ]

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