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They already DO get SS for fewer years, and are forced to pay into it for more years, because wealthy bankers can afford to retire earlier than people who live
by lr4444lr 11y ago
They already DO get SS for fewer years, and are forced to pay into it for more years, because wealthy bankers can afford to retire earlier than people who live paycheck to paycheck.
Social Security in its current formulation (not means-tested, cap on income which is taxable for it) is pretty regressive.
- emodendroket 11y agoMeans-testing would probably lead to Social Security being killed by the cap on income should go.
- pc86 11y agoCan you please explain to me what a hedge fund manager in Connecticut retiring at 35 has to do with a 60 year old Wal-Mart employee's social security?
- lr4444lr 11y agoAt 62, the hedge fund manager is eligible for social security, on top of the capital gains he's been living off of comfortably for the prior 27 years. The Wal-Mart employee may never be able to afford to stop working because of the penalty on income over the minimum. That's how the system is set up.
- pc86 11y ago> They already DO get SS for fewer years, and are forced to pay into it for more years, because wealthy bankers can afford to retire earlier than people who live paycheck to paycheck. The Wal-Mart greet is not forced to pay into SS because of the hedge fund manager's wealth. The fact that one person can retire early does not exacerbate the financial problems of someone else.