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Reply to "High earners/savers: How do you feel about social security?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We are high income and I think we should pay a social security tax on ALL of our earnings, plus have a cap. Why? I'm from a lower middle class background and have many elderly relatives who only have social security to support them on old age.[/quote] So why don't you help them personally if you feel the need? I came from LMC/MC background and somehow my parents managed to save for retirement. They lived frugally and kept a budget and got a 2nd job if needed. But they now have a decent retirement. Just don't get how you can expect to only live on SS in retirement. It was never intended for that. It's SUPPLEMENTAL, not "your only retirement plan"[/quote] It literally was intended for it for poor elderly people.[/quote]
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