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Money and Finances
Reply to "High earners/savers: How do you feel about social security?"
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[quote=Anonymous][quote=Anonymous]I don't understand why people above a certain income must participate at all doesn't make sense [/quote] Because we pay 7% of our income (up to 184K) for 35-40+ years for the purpose of collecting SS at retirement. We didn't have a choice in that. Oh and we also pay 37% fed taxes on everything over $700K, 2% on entire income for medicare. At some point, the solution cannot be to simply tax someone making $1.5M at 75%+. At some point, people have to be responsible and save for their own retirement (or have their kids assist them) [/quote]
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