3 ms·
If you define baby boomers as born 1946 to 1964, that matches ages 57 to 75 so I'd imagine over half are retired already and we're already in the dying out stag
by zz865 5y ago
If you define baby boomers as born 1946 to 1964, that matches ages 57 to 75 so I'd imagine over half are retired already and we're already in the dying out stage.
The biggest problem isn't boomers but the life expectancy of gens X, Z. Luckily(?) they look less healthy than their parents.
SS can be boosted by charging SS on unearned income and income over the limit.
- RobRivera 5y agoplease define unearned income. afaik - other types of income ARE taxed ie. capital gains, etc. EDIT: Asking a question to be more specific is being downvoted leads me to believe there is a party that hates these particular questions being asked, and is antithetical to the idea of community dialogue and shared ideas. I really think the whole internet forum thing has much to be desired.
- zz865 5y agoYes they are income taxed but dont pay social security or medicare taxes. If you earn $100 wages you pay 6.2 percent SS taxes and 1.45% medicare (employer pays more than this too). If you earn $100 dividends you dont pay either.
- valleyer 5y agoNo, Social Security and Medicare (collectively, FICA) taxes are not levied on capital gains.