The DOGE effect. Social Security payments just saw the largest single monthly drop in history

[leftwinger]

Same goes for emiyers offering $15 per hour and complain they cant get workers. Pretend to pay i pretend to work.

Let's give everyone in America $100/hr flat rate for any job from CEO to road kill picker upper!

 

[Concerned American]

Trump campaigned on not taxing SS bennies, but I haven't heard anything about it since he was elected. However, if high earning retirees weren't taxed the SS Fund would go broke years sooner. The system didn't anticipate retirees living as long as we do.

Seems like I read someplace that the BBB was going to increase the standard deduction for retirees by $6K. Could be wrong.

 

[initforme]

Let's give everyone in America $100/hr flat rate for any job from CEO to road kill picker upper!

Lol. Let's tell companies that tell us how american labor costs are too high they are liars.

 

[leftwinger]

Lol. Let's tell companies that tell us how american labor costs are too high they are liars.

Do you want the USA to be Globally competitive or just sell locally?

 

[Concerned American]

Do you want the USA to be Globally competitive or just sell locally?

He hasn't got a lick of common sense re: economics.

 

[initforme]

Do you want the USA to be Globally competitive or just sell locally?

We are competitive. Do you believe american business is entitled to a workforce?

 

[Concerned American]

We are competitive. Do you believe american business is entitled to a workforce?

We would not be competitive at the wages and benefits that you are advocating.

 

[westwall]

I've heard of this type of thing and it was a consideration when I was asked back as a consultant. I chose the same way as your wife. Another thing to consider though is why does that five year hole make a difference when at 70 you can earn however much you want?

Because most people either die before 70, or are to broken to work past 70.

 

[initforme]

We would not be competitive at the wages and benefits that you are advocating.

So if a Chinese worker makes a product for $10 youd be against a person here at $20 per hour? If thats the case please stay overseas.

 

[Concerned American]

So if a Chinese worker makes a product for $10 youd be against a person here at $20 per hour? If thats the case please stay overseas.

That isn't what you're advocating, init. Please don't be dishonest. You've made it very clear on this board in multiple posts that you believe every American worker should make at least $30/hr.

 

[Admiral Rockwell Tory]

Bull hockey!

The drain comes from giving the SAME paycheck to a schmuck who barely pulled off ten years working as a person working 40+ years. The calculations come to the exact same....magically.

Everyone gets roughly 1900 whether they worked ten years or 40+....even illegal aliens who never paid taxes in their lives (and never will)

And the Government takes the money from you AND YOUR EMPLOYER at the point of a gun and threat of imprisonment for the money. AND if it was just put into a simple index fund that would pay miltiples more and leave something for their heirs.

But somehow....it doesn't work that way with the Government. They have OVERTAXED everyone to the point we live off crumbs and they expect us to be grateful for it.

Where did you get this bullshit? I worked 40 years and I got over $2000 a month. My wife worked 30 years and got $1500. You are so full of shit I bet you have brown eyes.

My social security was reduced because I did not contribute for 10 years because my state had a separate retirement plan. Where was this threat of a gun when the state did not take out my FICA taxes? You simply are talking out of your ass! Lots of people do not even contribute to SS and Medicare. I was initially denied Medicare disability because I worked outside the system.

 

[Admiral Rockwell Tory]

That isn't what you're advocating, init. Please don't be dishonest. You've made it very clear on this board in multiple posts that you believe every American worker should make at least $30/hr.

Yeah, but he has dementia like Biden, so we need to cut him some slack,

 

[Admiral Rockwell Tory]

In General Admiral I would agree sir.

But, it is money taken from your pocket. It may arrive as SS then goes out TAX. Almost the same effect as receiving less.

There is bigger old age deduction in the new plan. $4000? In the 22% bracket you could save over $800 in tax owed?

If you are drawing SS, you will never be in the 22% tax bracket.

 

[leftwinger]

Concerned American

If you are drawing SS, you will never be in the 22% tax bracket.

With all due respect, if a person has a big IRA or 401K imagine they pull $100K-$250K annually (to be taxed as income) to cover living + help relatives or fun. The $40K (85%) Taxed SS becomes just a nuisance atTax filing sir. You may reach 3rd or 4th bracket.

 

[Woodznutz]

Seems like I read someplace that the BBB was going to increase the standard deduction for retirees by $6K. Could be wrong.

That'd be nice but what has the BBB to do with tax policy?

 

[leftwinger]

That'd be nice but what has the BBB to do with tax policy?

Huh? An increased TAX deduction to elderly in the BBB is new Tax policy?

 

[Woodznutz]

Concerned American


With all due respect, if a person has a big IRA or 401K imagine they pull $100K-$250K annually (to be taxed as income) to cover living + help relatives or fun. The $40K (85%) Taxed SS becomes just a nuisance atTax filing sir. You may reach 3rd or 4th bracket.

I haven't rented out my upstairs apartment for years, losing $8,000/yr. in rent, because it became a nuisance. Between that and taxes on SS I lose $12,000/yr.

 

[Woodznutz]

Because most people either die before 70, or are too broken to work past 70.

85 and still getting a paycheck and SS. I have given some thought to retirement however.

 

[Concerned American]

85 and still getting a paycheck and SS. I have given some though to retirement however.

Yep, I'm well into my 70s.

 

[westwall]

Yep, I'm well into my 70s and still tending to 20 acres in snow country.

I'm 80, and live above 7,000 feet in the Sierra Nevada Mountains.

I'm noticing a pattern developing....