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And someone at $250k is paying a far lower effective payroll tax rate than someone earning $50k.
by standardUser 5y ago
And someone at $250k is paying a far lower effective payroll tax rate than someone earning $50k.
- s1artibartfast 5y agocorrect. I am not talking about effective rates. SS was originally sold as a personal savings plan, not a wealth redistribution plan. This is why payout is tied to contribution, and elders who didn't contribute are left to suffer in poverty. If we want it to act as to redistribute wealth, we should simply scrap it and replace it with an income tax and means tested benefit.