ArcticCrusher Posted December 30, 2019 Share Posted December 30, 2019 15 minutes ago, racer254 said: Why do they put a cap on the contributions? Why would anyone want to put more into a program that gives you less than the return on a GIC? Far better places for that. Quote Link to comment Share on other sites More sharing options...
1jkw Posted December 30, 2019 Share Posted December 30, 2019 2 hours ago, ArcticCrusher said: Aren't you a bit pissed when these are the idiots the government ends up having to lend a hand. The only difference is poor choices. No because just like me they can only collect an amount based on what they paid in. Quote Link to comment Share on other sites More sharing options...
f7ben Posted December 30, 2019 Share Posted December 30, 2019 23 minutes ago, ArcticCrusher said: Why would anyone want to put more into a program that gives you less than the return on a GIC? Far better places for that. It's a societal safety net you brain dead fucking moron. Kill yourself Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted December 30, 2019 Share Posted December 30, 2019 1 minute ago, f7ben said: It's a societal safety net you brain dead fucking moron. Kill yourself It's to force savings for those who can't help themselves, not for those who are doing fine. You want to be brought down a few notches, go ahead. Anyone wanting to put more in than the minimum should kill themselves and the entire gene pool. Quote Link to comment Share on other sites More sharing options...
1jkw Posted December 30, 2019 Share Posted December 30, 2019 1 hour ago, racer254 said: Why do they put a cap on the contributions? I think this came about because the rate was based on your last 3 years average SS payments, businesses especially DRs offices would pay in as little as possible for all the early years then load up in the last 3 to get the max allowable. Quote Link to comment Share on other sites More sharing options...
1jkw Posted December 30, 2019 Share Posted December 30, 2019 26 minutes ago, ArcticCrusher said: It's to force savings for those who can't help themselves, not for those who are doing fine. You want to be brought down a few notches, go ahead. Anyone wanting to put more in than the minimum should kill themselves and the entire gene pool. You don't pick how much you pay in it is a flat rate based on income up to the capped amount. Quote Link to comment Share on other sites More sharing options...
Anler Posted December 30, 2019 Share Posted December 30, 2019 2 hours ago, racer254 said: Why do they put a cap on the contributions? So rich people dont pay too much... Quote Link to comment Share on other sites More sharing options...
bussman Posted December 30, 2019 Share Posted December 30, 2019 4 minutes ago, Anler said: So rich people dont pay too much... Bingo Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted December 30, 2019 Share Posted December 30, 2019 1 hour ago, 1jkw said: You don't pick how much you pay in it is a flat rate based on income up to the capped amount. Why would anyone want to volunteer more? Quote Link to comment Share on other sites More sharing options...
1jkw Posted December 30, 2019 Share Posted December 30, 2019 7 minutes ago, ArcticCrusher said: Why would anyone want to volunteer more? I don't know, and I don't think you can. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted December 30, 2019 Platinum Contributing Member Share Posted December 30, 2019 1 hour ago, 1jkw said: I don't know, and I don't think you can. No but some can adjust their income. My paycheck is only $800 a week. The rest I take as a profit check. Quote Link to comment Share on other sites More sharing options...
racer254 Posted January 2, 2020 Share Posted January 2, 2020 The cap on contributions is based on your wages. Social Security taxes are assessed on all wages earned, up to a capped maximum. In 2018, the cap is $128,400. Employees are taxed at 6.2% of wages earned, so if someone earned the maximum taxable wages of $128,400, they would pay $7,960.80 So once you make over 128,400 the government stops taking that tax out of your earnings. Lets recap some Q and A about SS. Q: Which Political Party took Social Security from the independent ‘Trust Fund’ and put it into the general fund so that Congress could spend it? A: It was Lyndon Johnson and the democratically controlled House and Senate. Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding? A: The Democratic Party. Q: Which Political Party started taxing Social Security annuities? A: The Democratic Party, with Al Gore casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US AND MY FAVORITE: Q: Which Political Party decided to start giving annuity payments to immigrants? A: That’s right! Jimmy Carter and the Democratic Party. Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it! Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 2, 2020 Share Posted January 2, 2020 Lots of selfish pricks here these days. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted January 3, 2020 Share Posted January 3, 2020 14 hours ago, Mainecat said: Lots of selfish pricks here these days. How much did you contribute to OASDI during your working years? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 3, 2020 Share Posted January 3, 2020 1 minute ago, AKIQPilot said: How much did you contribute to OASDI during your working years? You just got yourself on MC's "I can't see you list." 1 Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted January 3, 2020 Share Posted January 3, 2020 14 hours ago, Mainecat said: Lots of selfish pricks here these days. More hypocrisy Quote Link to comment Share on other sites More sharing options...
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