But the withdrawal rate shouldn’t be based on contribution. A safety net that only provides for people who are already rich didn’t make any sense.
Comment on It's rigged
Ajen@sh.itjust.works 1 week agoAs long as the withdraw rate is based on contribution rate it doesn’t really matter what the cap is, because you’d be increasing withdrawal along with contributions. Social security income for someone who was making $185k/yr will be far more than enough to keep them out of poverty, which is the goal of social security. It’s not meant to be people’s only retirement account, it’s a safety net.
chiliedogg@lemmy.world 1 week ago
Sludgeyy@lemmy.world 1 week ago
Having rich people pay into a system and then die is just beneficial. Even if their withdrawal rates are based on contributions. They will leave money behind or they with be neutral.
Someone making $36k a year pays $4,464 dollars for SS.
12.4% is a good retirement fund.
So government takes what could be your good retirement fund so you can save another 12.4%?
If someone really could save 24.8% they would have a great retirement. Yet the retirement for someone making $36K a year is looking grim.
Ajen@sh.itjust.works 1 week ago
That’s all true, but I’m not sure if you’re disagreeing with something I said or supporting it?