A definition might help some:

en·ti·tle·ment

noun
the fact of having a right to something.

the amount to which a person has a right.

the belief that one is inherently deserving of privileges or special treatment.


Seems to fit since there is no mention of how much.

:mornincoffee:

Social Security is skewed in favor of low income earners. They will get a good rate of return, while high income earners will get no return on their "investment".

I certainly don’t feel entitled to expect to get back a small fraction of what I have paid into the system after considering the time value of money. I feel like it is money that is owed.

Doesn't ACA make adjustments based on COLA?

You may be fine and not go to the next level.

I believe ACA subsidies are based on 400% of the federal poverty guidelines, which do change and generally increase every year. There is also an expansion on top of these limits through 2025 for some people that was part of the COVID relief bills.

Social Security is a program that was enacted by Congress in 1935 (amended and expanded several times) to provide for the basic needs of individuals and families; to keep families together and to give children the opportunity to grow up healthy and secure.

Paraphrasing the social security system’s purposes. It’s a “social program” and not a “retirement program” as such.

After taxes the average recipient will lose 1 to 2 % in purchasing power. Could be worse.

They could have a 10% raise and my check would be $128 they could have a 40% raise and my check would still be $128 the good news is no matter how much Medicare goes up my check will still be $128

We paid into it so I feel we are supposed to get it back.

IMHO FICA is money confiscated from our wages yet we pay tax on it as if it was income we actually received and pocketed. Then four or five decades later when we receive promised payments many of us have to pay tax on those payments. In addition if we have sufficient income our social security payments are significantly reduced by the notorious IRMAA which radically increases our medicare premium at no additional benefit whatsoever.

And to add further insult, there was no cap on our wages for the Medicare taken from our hard earned paychecks.

And...don't forget the outrageous 3.8% Net Investment Income (NIIT) medicare tax!

Questions and Answers on the Net Investment Income Tax | Internal Revenue Service.

more than insult, it's salt in the open wound

Has anyone done the math.........with time-value of money, how many years do you need to draw on SS (full SS) in order to get your & your employer's dollars back???

Too much fun for me to do.

I think it's about seven years without time-value.

Jus wondering.

I think that rule only applies in states where it was approved because the states had to participate in the subsidies after a few years. Florida was one state that rejected the rule.