Reply to What Would You Be Willing to Do to Save SS?

Forum Index » Political Discussion

Reply to "What Would You Be Willing to Do to Save SS?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]OP here. Does anyone know how high up the income ladder we need to move the cap to keep the program solvent for the next 75 years? An increase to $200k would be around an extra $5000  - manageable at that level, and perhaps it could even be viewed  as a wise " investment"' to ensure the program is solvent when it's time to claim. (The other "half" would have to be paid by the employer, but again, not a deal-killer at that level.)

While I like the idea of raising the cap, for political purposes it would be easier to get through if changes are seen as a "shared burden." How high would the cap have to be raised if we ALSO moved the retirement age up by one year, gradually over time?

I ask because we seem to have some very knowledgeable people responding. Anyone know the numbers?

[/quote]

If you increase it to 200k that would be more than 5k additional, it would be double that. Which considering the cap on return, in other words, it very likely wouldn't give that individual any additional benefits under SS. The reason I point this out is because the employer doesn't really pay. The cost of an employee isn't what you pay them an hour, but rather what you pay them hourly, or in salary, is determined by the overall cost to the employer.

Then again, Medicare taxes don't translate into any additional benefit. In fact, not only does the higher earner pay more tax for the same benefit if the income is still higher they will also pay a higher premium for Part B.

As to inequity. Someone in California or New York shouldn't be paying the same for Medicare as someone in Mississippi but they do.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics