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Politics : Formerly About Advanced Micro Devices
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To: Daniel Schuh who wrote (125419)10/5/2000 7:06:33 PM
From: Jim McMannis  Read Replies (2) of 1570056
 
RE:"SS taxes top out at 60-70k, Jim. You didn't know that? Not the rate, you don't pay most of FICA on income above 70k. There's maybe 2% medicare tax above 70k, that's all."

So are you telling me that those who make over 70k are getting a better deal on SS and medicare. Are they getting better service, bigger SS checks?

Let's face it...SS should be made a welfare program, Gore would like that. That would take care any means tests. Those who don't need it could pay for those who do.
The argument against that is..."I paid in, I should get it"...unfortunately most people think the government has stashed their money over the years and don't realize it was a pay as you go system. The bigger problem is that when the boomers retire the system will be upside down....
I'm sure you're aware that those who retired only about ten years ago got all their money + interest back in a couple years. Since then they are lucking out where as the boomers have literally no chance of receiving what they pay in back during their retirement unless the live to 120 or so...
Problem is that so many extra benefits have been added over the years to get votes. The people have voted themselves all the money and their children will suffer...

Jim
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