Well that is wrong on both accounts, unless you assume SS will be bankrupt before you can collect anything.
Comment on Social Security can be saved. Scrap the cap!
musicalphysics@discuss.online 18 hours ago
If you make more than $184k you pay zero dollars into social security. The other part is you aren’t getting any benefits.
nop@lemmy.world 18 hours ago
musicalphysics@discuss.online 11 hours ago
Downvote reality all you like, it won’t make y’all any more correct. www.irs.gov/pub/irs-pdf/f1040es.pdf
musicalphysics@discuss.online 17 hours ago
Believe it or not it is true.
gartheom@lemmy.world 17 hours ago
Anybody making more than the cap still pays the tax. The cap just means as far as social security is concerned, you only are taxed and provided benefits as though you earned $184k.
musicalphysics@discuss.online 17 hours ago
Go through the irs form here, page 9. Self employed folks making more than the max put in 0 for SS. www.irs.gov/pub/irs-pdf/f1040es.pdf
DrPop@lemmy.world 14 hours ago
That’s the instructions for the 1040#es a voluntary form where you estimate you taxes you will owe and make quarterly payments. www.irs.gov/pub/irs-pdf/f1040sse.pdf look at line 8a of this form.
musicalphysics@discuss.online 14 hours ago
Yep. It also shows if you are making above the SS limit then people don’t have to contribute to SS.
GreyEyedGhost@piefed.ca 16 hours ago
The qualifier you put under here, which is not in your original comment, is if you’re self-employed. What if you aren’t? (Let’s ignore the question of if you should be at that i come.)
musicalphysics@discuss.online 14 hours ago
It is a qualifier. The tax code doesn’t exactly make sense but I’d expect if self-employed doesn’t have to contribute why would an employee. Self employed people have to pay both the employer and employee portion, while employees only pay to employee part.
JasonDJ@lemmy.zip 15 hours ago
Dude I’m a milennial, I already accepted the fact that I’m not getting any benefits.
I’m 41 now. I have a funny feeling that in the next 25 years, the retirement age will go up, and the number of people living long enough to collect it will go down.
Tollana1234567@lemmy.today 1 hour ago
we also have ton of old people that still need the young paying into the tax scheme. there already parents moving back with thier children to save money, and vice versa.
musicalphysics@discuss.online 14 hours ago
Yep. Same boat.
Aqivex@fedinsfw.app 17 hours ago
Absolutely true. Also just like, fundamentally bullshit, and perfectly reasonable to consider expansion of the cap.
Those currently over the cap reap outsized benefits borne from the labor of those who don’t make the cap. That’s how they fucking made it, above the cap.
There is no moral turpitude in taxing them to fund a social net they won’t directly use, because they’ve been indirectly benefitting from it all along.
The piddling argument I can already hear you making, gets even more ridiculous when you scale past the professionally licensed professions and get into pure capitalists.
This is a compromise being offered, in lieu of the buffet table, and of course they’re gonna be too fucking stupid to accept it because the morons forgot the bread part and all they got left is their shitty circus.
mirshafie@europe.pub 17 hours ago
I pay taxes knowing that I won’t benefit directly from many of my country’s programs. Free school lunches? New train lines? I drive. Free health care? I’m healthy. I’m not a child and I don’t have children. Social housing? I own my apartment.
But the thing is, I benefit directly. It means that everyone around me has a reasonable standard of living. I’m surrounded by healthy, literate people with clean clothes and full bellies. That pushes my standard of living up. I’m happy to be taxed.
13igTyme@piefed.social 15 hours ago
It also means when you do need them they are available. Car broke down, take the train. Get sick, hospitals aren’t backed up with people that don’t have preventative care and are more acutely sick than should be. This statement also includes homeless that get sick from living on the street and fill EDs.
musicalphysics@discuss.online 17 hours ago
What piddling argument do you think I’m making when I state facts about the tax code.
Aqivex@fedinsfw.app 17 hours ago
This implies preemptive assumptions on my part. I could be wrong. You stated facts, true.
If that is the extent of your stance on the topic, then that portion of my comment is irrelevant, and needlessly combative.
Not that I’m apologizing for it, these are not the times for that.