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This would be huge! No SS taxes?
#9001844
02/08/24 12:50 PM
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Joined: Jul 2013
Posts: 6,042
tlk
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Jul 2013
Posts: 6,042 |
You can't fix stupid
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9001852
02/08/24 01:11 PM
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Joined: Nov 2011
Posts: 9,935
unclebubba
THF Trophy Hunter
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THF Trophy Hunter
Joined: Nov 2011
Posts: 9,935 |
But it increases taxes on those that are still earning. (if you ear enough)
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9001854
02/08/24 01:14 PM
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Joined: Dec 2011
Posts: 14,281
Ramsey
Pepe' Le Pew
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Pepe' Le Pew
Joined: Dec 2011
Posts: 14,281 |
Flawed article, by raising the payroll tax limit to $250,000 they are simultaneously raising the earned benefit for those payees. The problem with SS fund is they extended its benefits beyond the original scope of the program. I predict no changes and this will become a yearly debate to fund the shortage ( Should start happening around 2,030) . Why would congress find a solution when they can make it a annual devicive issue and fundraise off it. I am probably over confident the program wont be cut by 25% by law when the fund runs out. Seniors are a voting block that cant be ignored.
Big Beckett!!
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9001858
02/08/24 01:22 PM
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Joined: Apr 2009
Posts: 3,239
blkt2
Veteran Tracker
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Veteran Tracker
Joined: Apr 2009
Posts: 3,239 |
Social Security is not a pension program. The money collected in the name of the program is simply an income tax that gets deposited directly into the general fund and is prohibited by law from being earmarked for any specific purpose. It is also not your money and you have no legal right to access it if the government wants to tell you to F off. The program was intended to last for about 15 years after it's inception because even back then actuaries understood that the program would not be sustainable. With very few exceptions there is no income that should not be taxed because if you don't have skin in the game then you don't care what rate the government taxes other people at.
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Re: This would be huge! No SS taxes?
[Re: blkt2]
#9001879
02/08/24 02:01 PM
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Joined: Jun 2015
Posts: 5,922
Jgraider
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jun 2015
Posts: 5,922 |
Social Security is not a pension program. The money collected in the name of the program is simply an income tax that gets deposited directly into the general fund and is prohibited by law from being earmarked for any specific purpose. It is also not your money and you have no legal right to access it if the government wants to tell you to F off. The program was intended to last for about 15 years after it's inception because even back then actuaries understood that the program would not be sustainable. With very few exceptions there is no income that should not be taxed because if you don't have skin in the game then you don't care what rate the government taxes other people at.
Spoken like a true libtard. It's dammm sure not the gov't's money, as they don't have any.
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Re: This would be huge! No SS taxes?
[Re: Jgraider]
#9001888
02/08/24 02:21 PM
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Joined: Apr 2009
Posts: 3,239
blkt2
Veteran Tracker
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Veteran Tracker
Joined: Apr 2009
Posts: 3,239 |
Social Security is not a pension program. The money collected in the name of the program is simply an income tax that gets deposited directly into the general fund and is prohibited by law from being earmarked for any specific purpose. It is also not your money and you have no legal right to access it if the government wants to tell you to F off. The program was intended to last for about 15 years after it's inception because even back then actuaries understood that the program would not be sustainable. With very few exceptions there is no income that should not be taxed because if you don't have skin in the game then you don't care what rate the government taxes other people at.
Spoken like a true libtard. It's dammm sure not the gov't's money, as they don't have any. I am simply quoting the law. Once the government takes your money it is theirs. If you think otherwise try withdrawing the money you've paid in the name of Social Security or better yet send the Social Security Administration a letter saying that you wish to withdraw from the system and expect your principal to be returned. They even have a system set up to take money before you have even earned it. They call it deficit spending.
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Re: This would be huge! No SS taxes?
[Re: Ramsey]
#9001896
02/08/24 02:34 PM
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Joined: Apr 2007
Posts: 60,483
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,483 |
Flawed article, by raising the payroll tax limit to $250,000 they are simultaneously raising the earned benefit for those payees. The problem with SS fund is they extended its benefits beyond the original scope of the program. I predict no changes and this will become a yearly debate to fund the shortage ( Should start happening around 2,030) . Why would congress find a solution when they can make it a annual devicive issue and fundraise off it. I am probably over confident the program wont be cut by 25% by law when the fund runs out. Seniors are a voting block that cant be ignored. This. It’s a way to take a shot on higher incomer earners that are above the yearly cap now. Gives them the ability to add +-80k to current cap. They will continue to raise income max on top of that for inflation adjustment.
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9001897
02/08/24 02:38 PM
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Joined: Jan 2007
Posts: 15,503
reeltexan
THF Celebrity
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THF Celebrity
Joined: Jan 2007
Posts: 15,503 |
They take it without asking and then decide how much you will get, if you live long enough. What would keep a corrupt government from taxing it again? Certainly not the royal subjects. They just say thank you.
"If we ever forget that we are One Nation Under God, then we will be a nation gone under." Ronald Reagan
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Re: This would be huge! No SS taxes?
[Re: Ramsey]
#9001909
02/08/24 02:58 PM
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Joined: Sep 2013
Posts: 485
Uncle Zeek
Bird Dog
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Bird Dog
Joined: Sep 2013
Posts: 485 |
Flawed article, by raising the payroll tax limit to $250,000 they are simultaneously raising the earned benefit for those payees. The sad thing for such earners is that the increase in benefits is not at all proportional to the increase in taxes. Meaning that if the payroll tax is doubled to $250,000, one's benefits will only increase by perhaps 10% or so.
"Decency is not news; it is buried in the obituaries - but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate, probate & taxes 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 work zac@artimlegal.com
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9002084
02/08/24 06:31 PM
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Joined: Mar 2010
Posts: 12,211
ntxtrapper
THF Celebrity
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THF Celebrity
Joined: Mar 2010
Posts: 12,211 |
A democrat introduced the bill so it has to be bad for middle class working Americans.
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Re: This would be huge! No SS taxes?
[Re: Uncle Zeek]
#9002090
02/08/24 06:46 PM
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Joined: Dec 2011
Posts: 1,933
gtrich94
Pro Tracker
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Pro Tracker
Joined: Dec 2011
Posts: 1,933 |
Flawed article, by raising the payroll tax limit to $250,000 they are simultaneously raising the earned benefit for those payees. The sad thing for such earners is that the increase in benefits is not at all proportional to the increase in taxes. Meaning that if the payroll tax is doubled to $250,000, one's benefits will only increase by perhaps 10% or so. Yep. Eventually they are going to pass a bill removing the tax limit and then they will simultaneously set a cap on the payout amount to something like what you would get if you made $250K. That's going to end up being the final answer, but neither side wants to get rid of the issue because it's great for spreading FUD and fundraising.
Thanks, Rich
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Re: This would be huge! No SS taxes?
[Re: tlk]
#9002230
02/08/24 10:56 PM
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Joined: Oct 2010
Posts: 2,871
topwater13
Veteran Tracker
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Veteran Tracker
Joined: Oct 2010
Posts: 2,871 |
Another way the govt can punish those pesky over-achievers.
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