But he was making the argument that the SS contribution would be completely paid to the employees to make up for the contribution not being paid. They will only give increases that would be absolutely necessary.
Retirement Targets
- Thread starter yowza
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Not at all, I am saying, if it ever happened, they may not get a pay raise for 1-2 years since their pay level is now costing the company more money beyond the $160k they currently pay FICA on. I know, cry them a river since they are already over $160k. I am not close to that realm and am not worried about it, Like I said, just spitballing.
For SS, they need to basically eliminate the cap. They can't raise retirement age. Too many physically demanding jobs yet. May live longer, but the body parts still don't hold up. We also need lots of legal immigration since our birth rate is lower. We need the influx of people to help support the social programs.
I am a pretty conservative person and I would 100% support canning that cap. Haven't seen the numbers in terms of what kind of time that would buy until issues appear again.
The thing I hate about SS, and I know it's "insurance", is when someone pays in and then dies before receiving any benefit from it. I know there can be spousal benefits and benefits for young children, but you know what I mean.
I am a pretty conservative person and I would 100% support canning that cap. Haven't seen the numbers in terms of what kind of time that would buy until issues appear again.
The thing I hate about SS, and I know it's "insurance", is when someone pays in and then dies before receiving any benefit from it. I know there can be spousal benefits and benefits for young children, but you know what I mean.
Solution is to eliminate SS earnings cap for tax above $160k or everyone loses 36 monthly SS checks as we raise retirement age to 70. Everyone must work 3 more years or those making over $160k earned income pay more tax.
I want earnings cap eliminated.
I think qwerty was talking about the company having to pay more for those high income earners. That perhaps they would be less likely to pay those higher salaries as easily if they are also still paying the tax.
This is a serious question. Does it happen often that people are still doing physical labor at 65? I would think most would have transitioned into some sort of office job or supervisor position by then.
Very few, because their bodies have broken down by then and they just cannot do the labor that they were doing in their 20's and 30's. I have a friend that did concrete work, started right out of college, after 40 years, already has had one knee replaced, hips are shot. He still does some pouring of concrete but much more difficult that 20 or 30 years ago.
People like him are the ones that the right want to say, "you can work a few more years until you retire." It's a bunch of crap, but they truly could care less, it's all about paying less taxes for those on the high end of the scale.
Yes, it happens often. There are many people that don’t acquire the necessary skills to advance or transition into a less physical position. Many of these employees are forced to work beyond retirement age to continue on a health insurance plan to cover a spouse that is unable to work.
So everyone needs to work 3 more years to make sure those making OVER $160k do not pay more SS tax.
Do the math. Those making up to $200k per year would benefit more by just paying more SS tax and not losing 36 monthly SS checks. So the only ones really benefiting are even wealthier individuals and businesses that are paying their employees over $160k. Those are not Mom and Pop businesses. Just big businesses and conglomerates. It really is a no brainer. Eliminate earnings cap or everyone must work 3 more years. Just to benefit super rich.
Must work?
We GET to work.
Sadly no one wants to see Nana and Papa work anymore. America in decline
Continue to work past 67 if you wish while collecting full benefits and accumulate a little money as the SS checks pile up. 36 monthly checks averaging $2k each makes a nice little $72k pile.
Average age of farmers is 60 so there are quite a few old people doing physical work.
I taught school with a guy that was triple dipping, school salary, full IPERS and SS, since he was 70 years old, was not penalized on any of it. He was going to retire with me last year, but they talked him into coming back for one more semester while another teacher's wife finishes up her student teaching to take over the job the 2nd semester.
Sure - to be fair I wasn’t defending the businesses or even saying it was going to cause issues (and don’t necessarily think qwerty was), but I thought that original post was misunderstood.
If you wish is the key here.
Then again, Bezos has a super yacht to pay for and a trophy girl on his arm.
The guy is so rich he has the father of his girlfriend's kid working for him on Thursday Night Football.
The guy has overhead! The poors will never understand that. Get yer ass back in the field, gramps
Farming is not the physical labor it was 50 years ago, according to my relatives, the combine and tractors pretty much drive themselves with GPS, the most physical part is hooking them up and driving them to the field.
I would say livestock is a lot more physical than that. If just grain farming, it’s repairs, changing tires(duals), climbing bins and other stuff that is much more physical than what you mentioned.
Somebody strong enough to clear trees and heave bales, yet gentle enough to yean lambs and wean pigs and tend the pink-combed pullets, who will stop his mower for an hour to splint the broken leg of a meadow lark
