Quote:
Originally Posted by GrumpyOldMan
I wish they would do that on a sliding scale and weigh it at the bottom income levels. We don't need it, just like we didn't need the COVID checks. I feel for those less fortunate than me, and would like to see them get more.
|
People do not seem to understand. Social Security, first of all is a graduated tax. People who earn more pay more per increasing benefit. Close enough numbers, social security was a 7% tax for people who worked for someone else. Your employer paid another 7% for you-essentially tax free income. I was self employed and paid 13%.
Many think there is an account, a pile of money that you paid in. I paid in for 45 years.
That is not the case, they use money coming in to pay the money going out. I did not have a choice. If, we think of social security as insurance, I/we who earned middle class income or more could have bought the same coverage as private insurance for less.
That covid check, first of all I did not qualify. I agree it was ridiculous. Retired people being paid for inability to work due to covid. Truth had I qualified for a check, I would have taken it and cashed it.