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View Diary: Seriously, what the hell is Obama thinking? (702 comments)

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  •  They do, but not enough. (15+ / 0-)

    Why not just get rid of them for the sake of fairness and to keep the program solvent forever?

    "We the People of the United States...." -U.S. Constitution

    by elwior on Tue Apr 09, 2013 at 02:38:32 PM PDT

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    •  here is why (3+ / 0-)
      Recommended by:
      AkaEnragedGoddess, Pluto, gosoxataboy

      SS payouts to retirees (as I understand) are keyed to what they paid in during their working lives. So if the cap goes up, the people w/higher salaries get paid more from the trust fund when they retire.

      So more money comes in, but more will go out.

      I don't know how it balances out.

      An ambulance can only go so fast - Neil Young

      by mightymouse on Tue Apr 09, 2013 at 03:11:10 PM PDT

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      •  it goes up, but not as fast (7+ / 0-)

        and there's an upper limit on what they can get.

        I say that if they're going to claim that $250K annual income is 'middle class', then the cap needs to be $250k.

        (Is it time for the pitchforks and torches yet?)

        by PJEvans on Tue Apr 09, 2013 at 03:34:04 PM PDT

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        •  Why not go for no limit? (4+ / 0-)
          Recommended by:
          mightymouse, elwior, rhonan, gratis4

          See my comment above. A lot of the people making over 250k are the ones that are stealing retirements and earnings or they are helping do it. Put an SS tax on all income and tell those with much to pound sand when it comes time to payout. I'd also be happy if the benefit payouts were even across the board.  I feel like a lifetime of work should be valued the same, no matter what you were doing or how well it was valued when it was done.

        •  I agree and have thought so for (2+ / 0-)
          Recommended by:
          elwior, AkaEnragedGoddess

          quite a while.

          When someone is impatient and says, "I haven't got all day," I always wonder, How can that be? How can you not have all day? George Carlin

          by msmacgyver on Tue Apr 09, 2013 at 06:05:40 PM PDT

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      •  Nothing says we can't cap payouts (5+ / 0-)
        Recommended by:
        Pluto, mightymouse, Persiflage, elwior, gratis4

        They have a formula based on life expectancy and what was paid in, but there is so much variation on individual levels that no one gets what they paid in. Some people pay in their whole lives and collect nothing because they die early. Others pay in not much and collect early through SSDI. We can just limit annual payouts to a reasonable amount, like $40k. Most people get vastly less than that and it's more than enough for an average person to retire on. Boo hoo for the rich that they don't get what they paid in. My estimated monthly benefit, which according to the SS statement is calculated by assuming my earnings will stay more or less the same until I retire a long, long time from now, would net me about 15k a year, or half my current annual income. The max benefit amount is currently $30,156 annual so the people who were at the top of the contributions limit of $110k would get about a quarter of their income, which percentage wise isn't even near my benefit. There's a formula, but it's not the same at every level. There are diminishing returns. No reason we can't take on all money over $110k and give 0 back for each of those dollars. They'd still get a benefit.

    •  Employers match employee (0+ / 0-)

      contributions so any significant increase might be met with opposition from business.

      When someone is impatient and says, "I haven't got all day," I always wonder, How can that be? How can you not have all day? George Carlin

      by msmacgyver on Tue Apr 09, 2013 at 06:08:26 PM PDT

      [ Parent ]

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