SS as a %age of your income

[LARS]

As well as taxing high income people they could also start taxing high net worth people like some European countries. Wealth Tax

Anything is possible, but the complications of enforcement of a wealth tax make it highly unlikely in my view. Moreover, we cannot even gain consensus on estate taxes so it is hard to see how a wealth tax would fly.

 

[TromboneAl]

I tend to agree, but congress has rarely been held back by complexity. The AMT is a good analogy.

 

[samclem]

Anything is possible, but the complications of enforcement of a wealth tax make it highly unlikely in my view.

Perhaps. But there are a lot of ways to impact the ants without going to a wealth tax:
-- Higher tax rates on investment income (cap gains, interest, dividends)
-- ROTH IRAs/Roth 401Ks/ traditional 401Ks, traditional IRAs: While the annual increases in value would not be taxed, any gains would be included in determining the taxpayer's bracket. So, maybe the very first dollar of taxable income would be at the 25% rate.
-- ROTH withdrawals: tax 'em. ("They never paid taxes on these gains!")

 

[Hershey102]

I'd like to see more thought given to how these polls are grouped. The low end value in this particular poll should be 0%, not a pool of 0-25%.

That is statistically relevant, of special note, and is lost when grouped into a larger pool.

 

[REWahoo]

I'd like to see more thought given to how these polls are grouped. The low end value in this particular poll should be 0%, not a pool of 0-25%.

That is statistically relevant, of special note, and is lost when grouped into a larger pool.

If you are so inclined, feel free to do you own poll.

 

[militaryman]

If we get what the SS Statements indicate we will are supposed to get then I am in the 50%-75% of expenses --- This figures a modest lifestyle budget without extras of 30K per year. Realistically our expenses will be more because we will have more to spend but I am planning for LBYM and we will see how it goes. Also this does not consider my wife's SS which would cover another 25% of expenses should we actually get what is projected in 20 years.

My parents currently (and for the past 10years) do it on $27000/year and out of that comes $4800/year of health plan premiums and also the medicare premiums.