Join Early Retirement Today
Closed Thread
Thread Tools Search this Thread Display Modes
Old 05-11-2014, 06:23 AM   #21
Thinks s/he gets paid by the post
Join Date: May 2014
Posts: 1,884
Originally Posted by samclem View Post
If social security is viewed as a social welfare program, I'm not seeing why it is inconsistent that those with higher incomes should take home less of it (via a higher effective taxation of the SS benefits--both through a higher %age being subject to taxation and the higher marginal rates that higher income brings).

But that's not how it was "sold". Let's forget for a minute that it's a giant Ponzi scheme and that at the outset citizens were promised that SS numbers would never become a national ID number. It was sold as "insurance" (if you remember when the description on your paycheck was "FICA", that stood for "Federal Insurance Contributions Act"). Now they give you a "benefit" with one hand and take part of it away with the other. DH and I have paid plenty on his SS because up to 2 days ago I was gainfully employed.

And yes, I suspect the "back door" taxation will expand. I haven't looked into it but I'm guessing that any use of Healthcare Spending Account funds for medical or dental expenses, for example, will end up in our Adjusted Gross and thus affect SS. Maybe the same for Roth withdrawals?

athena53 is online now  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-11-2014, 07:48 AM   #22
Full time employment: Posting here.
Join Date: Nov 2008
Location: Harrogate, UK
Posts: 836
Is there much of anything that stays as it was "sold" to us? SS.....Iraq......ACA......on and on and on......

F4mandolin is offline  
Old 05-11-2014, 07:58 AM   #23
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 39,196
Nothing attracts a pig more than the smell of political comments on the forum...
Numbers is hard.

Retired in 2005 at age 58, no pension

REWahoo is offline  
Old 05-11-2014, 09:41 AM   #24
MichaelB's Avatar
Join Date: Jan 2008
Location: On the road again
Posts: 21,121

MichaelB is offline  
Closed Thread

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
What you havenít heard before about the taxation of Social Security benefits Midpack FIRE and Money 91 12-24-2013 01:39 PM
Series EE Savings Bonds--Taxation RetireeRobert FIRE and Money 6 12-12-2007 12:35 PM
Trust Taxation - Canada My Dream FIRE and Money 32 11-08-2006 04:30 PM
What's more important, asset allocation or taxation nun FIRE and Money 3 04-07-2006 06:40 PM
State Taxation on Pensions and S.S. maddythebeagle FIRE and Money 5 07-25-2005 03:41 PM


All times are GMT -6. The time now is 11:22 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.