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That is a bit misleading. Social security is distributed back to everyone. Although higher income earners pay more than what they get out. https://www.nasi.or
by aey 7y ago
That is a bit misleading. Social security is distributed back to everyone. Although higher income earners pay more than what they get out.
https://www.nasi.org/learn/socialsecurity/benefits-compare-earnings https://www.nasi.org/learn/socialsecurity/benefits-compare-e...
- jandrewrogers 7y agoPaying Social Security taxes does not entitle anyone to receive future benefit. Per the US Supreme Court (1960), Social Security taxes are no different than any other income tax. This is not a theoretical distinction, as the US can and has denied Social Security benefits to Americans that have paid Social Security taxes for arbitrary reasons. The Supreme Court ruling was based on one such case.
- aey 7y agoWhat percentage of the 900 billion per year has been denied?
- akvadrako 7y agoWhy does that matter? It functions just like a regressive tax and social program. It still contributes to the deficit and is money the government needs to take out of the economy.
- aey 7y agoIt’s money redistributed between consumers (progressively). Presumably the consumers will spend it on things they need, and capitalists will try to squeeze out a profit. Unlike bullets and bombs, which is money burned. And unlike Medicaid, which is money taken from consumers and spend specially on medical services. Which consumers may or may not need. Hence all the insurance fraud.