tag:blogger.com,1999:blog-6359728848030519376.post8012558093080433667..comments2015-01-07T13:23:40.176-08:00Comments on Social Security Defender: The 2% (non) Solution: Part OneAnonymoushttp://www.blogger.com/profile/04849952583072660993noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6359728848030519376.post-88903095512970027272010-12-21T06:59:39.251-08:002010-12-21T06:59:39.251-08:00Another thing that the 2% cut in employee contribu...Another thing that the 2% cut in employee contributions does is open the door to higher taxation of Social Security benefits. If you don't earn over about $14K, half of your Social Security benefits are subject to federal tax. IF the 8.2/4.2 spread holds, look for 65% or so of Social Security payments to be taxed, even if you're retiring in a few years.Ripleyhttps://www.blogger.com/profile/09595852197755220694noreply@blogger.comtag:blogger.com,1999:blog-6359728848030519376.post-58511663897821158682010-12-20T19:43:26.997-08:002010-12-20T19:43:26.997-08:00Bruce
is correct. I hope people understand what ...Bruce<br /><br />is correct. I hope people understand what he is saying here. I have made a little study of Social Security finances, and up to this latest "deal" could have told people quite honestly that Social Security has nothing to do with the deficit, and the "projected deficit" in Social Security's own finances, caused by an increase in life expectancy, can be entirely made up with a tax increase that amounts to forty cents per week per year... paid by the people who will get the greater benefits.<br /><br />But now neither of those will be true. It's hard to predict what will happen when your "leaders" are either insane or completely stupid or evil.<br /><br />But the game has moved beyond me now. I could have told you how to "fix" Social Security.... before they wrecked it completely. Now, if it is to be saved at all, it will need the work of many people much more politically sophisticated than i am.<br /><br />coberlyAnonymousnoreply@blogger.com