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Reply to "High earners/savers: How do you feel about social security?"
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[quote=Anonymous][quote=Anonymous]We pay significantly more in federal tax than most people make in a year so no we don’t feel like we need to pay more or that we are not paying our “fair share.” Our effective tax rate this year was 33% so it’s not like we are avoiding taxes. [/quote] Agreed! For those of us who are HNW/UHNW and our wealth is from Income, we pay more than our "Fair share" and changes like this would affect us greatly. Happy to pay taxes for society, but not at 60%+ (overall taxes). [/quote]
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