Consider this If you make $176,000 your SS tax is $10918. And if you make $5,000,000 you pay $10918. Remove the cap and SS will continue decades. - ThreadSky

timthomas1782.bsky.social • 5 days ago

Consider this

If you make $176,000 your
SS tax is $10918.
And if you make $5,000,000 you pay $10918.
Remove the cap and SS will continue decades.

Comments

natfinplan.bsky.social•4 days ago

Please don't just share on this forum. Get on the e-mail or phone and tell your reps in DC. They are the ones who can implement this. It only takes a few minutes and best of all..it doesn’t cost any money.
We don’t need money in politics. We just participate.

https://www.nationalfinancialplan.com

terribletommy.bsky.social•4 days ago

That extra $198,0000 buys a lot of wine or a Porsche Cayenne for their child.

germanshepherdfan.bsky.social•4 days ago

Only if we keep the government from raiding it for other projects.

sable204.bsky.social•4 days ago

Gov has tapped into USPS as well.

germanshepherdfan.bsky.social•4 days ago

Do you mean they raid revenue from the PO to ensure it’s perceived as failing to deliver a profit? Didn’t know about that one. Wow. Doesn’t that sound strange? Government as a profit-making entity. Yuck.

sable204.bsky.social•2 days ago

A 3 year cycle: increase stamp prices, revenue generated, Congress borrows funds; 2nd year revenue balanced; 3rd year revenue deficit. Start over again. Congress never repays what it borrows. @housegop.bsky.social @senategop.bsky.social @housedemocrats.bsky.social @senatedemocrats.bsky.social

capillariancrest.bsky.social•5 days ago

SS is going to majorly accelerate its slide into illiquidity once undocumented workers stop paying in. There are millions of people like this, they pay into a system from which they’ll never receive. And we are kicking them out of the country. Yikes.

cybexg.bsky.social•5 days ago

The Republican goal is to turn us (other than 1%) into permanent serfs, and just like them once we are no longer productive (old, injured, sick), we'll die quickly either from a lack of health care or starve. No, this isn't hyperbole (examine the Republican cuts/actions)

bronzergal.bsky.social•4 days ago

I always compare this to the slave days. They will soon get rid of birth control so they will never run out of workers (slaves).

jitterbugmom.bsky.social•5 days ago

So isn’t there a cap on how much you get out of SS? If I paid in $100k on $5 million, I don’t get any more than the monthly maximum that someone who pays $10k on $500k, right?

timthomas1782.bsky.social•4 days ago

I’m not sure. It depends on how much you made and for how many years.

dajody10.bsky.social•5 days ago

This is what happens the billionaire class writes the tax codes, and why they do everything in their power to consolidate more and more power….

bsarocket3.bsky.social•4 days ago

Not hard to see what the problem is ?
Wonder why we can't fix this???

captainobviousn132.bsky.social•5 days ago

If only Republicans in congress had some common sense, but that will never be a reality.

taylis.bsky.social•4 days ago

I’ve always advocated for a “donut hole” approach. Keep the cap where it is, return it when you make an income of 5million let’s say! So any Bubba who thinks he will win the lotto will be free! Gotta think at their level to win their votes

blazeon34.bsky.social•5 days ago

Biden has always said that, they need to pay their fair share.

jerryblue.bsky.social•5 days ago

Too logical for republicans

200brokenrecords.bsky.social•4 days ago

It’s not so much a “tax” as it is a forced “savings" on behalf of the worker. The Employer, however, might consider his matching $10918 contribution a forced “tax.” The worker would have $21836 saved into his record. The real issue is whether this trust fund can be managed by the government.

taylis.bsky.social•4 days ago

True, but the government has a heck of a better record than ANY business long term!

mmschubert.bsky.social•5 days ago

Easy peasy.

krisskidee.bsky.social•4 days ago

That is the Fix and always has been

mthrntr49.bsky.social•4 days ago

Just another way to keep the poor down. EAT THE RICH. BOYCOTT. RESIST.

sandyinrockville.bsky.social•5 days ago

Exactly!

bmcc724.bsky.social•4 days ago

businesses, who match the amount, will never allow this. The cap should be raised to keep up with COL and it never is.

lady1000.bsky.social•5 days ago

It's a simple fix. But, with the wealthy running the government it will never happen. Change needs to happen. We need to take the government back.

texasvulcan.bsky.social•4 days ago

YES!! THIS!!

sailor52713.bsky.social•4 days ago

Social Security brings in more money every year than it pays out. The biggest problem is Congress borrowed from it and now the largest creditor for the USA is SS. If congress did there job we may not have this issue.

tlcgwhatever.bsky.social•5 days ago

MAGAs don't do math.

sealblue.bsky.social•4 days ago

gop: 🤫

chelelea.bsky.social•4 days ago

Well SSI doesn’t affect the budget, but they know that. Where is all the alleged savings going?

vp68.bsky.social•5 days ago

Well I’m sure by paying that amount they are limited to the 1,800 or whatever it is a month if they paid more they may get more which they don’t need

dawnwilliamson.bsky.social•4 days ago

In 2025, the maximum SS retirement benefit is $5,108 per month for those who wait to claim benefits until age 70, while the maximum at full retirement age (66 or 67) is $4,018 per month. Spouses who claim against an account only receive up to the full retirement age. Most don’t get this. It’s a %.

hopewell64.bsky.social•5 days ago

Yes!

sclen.bsky.social•4 days ago

This is the easiest solution in the world. Both the Republican & Democratic parties have failed us.

mjkb16.bsky.social•5 days ago

Absolutely! Even if we lowered the percentage after $176k to 5% SSI would be well set and not understaffed. I know gop doesn’t care but hope that @senatedems25.bsky.social @housedemocrats.bsky.social do!