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Or, increase retirement age. Or, tax income over $130k. Or, reduce payments. Like I said, the plan only goes bankrupt if we allow it.
by alistairSH 4y ago
Or, increase retirement age.
Or, tax income over $130k.
Or, reduce payments.
Like I said, the plan only goes bankrupt if we allow it.
- jimbob45 4y agohttps://www.nerdwallet.com/article/taxes/federal-income-tax-brackets https://www.nerdwallet.com/article/taxes/federal-income-tax-... Income over $130k is heavily taxed at 24%. Retirement age can only be increased so many times before retirement is effectively gone for the lower class - I think I've heard the statistic that the majority of Americans will only ever collect on three social security checks.
- nradov 4y agoYou heard wrong. Full Social Security retirement age is 67. US life expectancy is 79. Social Security benefits are paid monthly. Do the math.
- alistairSH 4y agoYou do realize SS tax is a different line item on your taxes, right? Over $137k does not pay into the SS system.