Thread: the rich the disabled and disney

Originally Posted by moving-target

i been getting SS since i was a kid when do i put back into it ? anytime i buy something from a store pay a bill pump gas do i pay into social security directly not yet have i ever worked yes would work if i could hell yes do i collect welfare/food stamps no

I am not sure how you think you are paying into SS with your purchases, bills or fuel. SS is primarily funded through payroll deduction for all people that work. The same as medicare. Anyone with a job pays 6.2% of their earnings into SS up to an individual earnings of $117,300. Anyone with a job pays 1.45% of all their earnings to fund medicare. So a household consisting of a two partners can fund SS by as much as $14,545.20 per year. Those same two will pay an additional $3,401 into medicare if they just earn the $117,300 for a combined total of $17,855.90 per year. So in order for some people that are unfortunate like yourself to draw a monthly income and receive medical care as you do others have to pay and some have to pay big. The rich entitled assholes of the world all fund the program at the rates I mentioned. Not really any loopholes for this one. It is not so bad on households with single earners but really sucks for those that are dual income. Then on top of that we get to pay for our own medical care though continuous increase in premiums with reduced coverage. Any idea what type of insurance policy one could purchase for $17,855 per year? Any idea what a true retirement plan would look like if you funded it with $17,855 per year for 35 years?

So I am sitting on the couch last night reading this post in between catching up on work after already working a long day. My wife is on the other couch working frantically to solve an issue with her job and I get to read this post and get a peek at how some people view the world. I had to ask myself, is it worth it? Is it worth working nights, weekends, while on vacation or pretty much all the time to earn a level of income to be considered a rich entitled asshole? An asshole that on top of all that tries to help more by donating to the church, doing toys for tots, angel tree and just about any other seasonal deal that comes around. An asshole that never sells household items like refrigerators, TV's and cloths but instead always donates those items so someone with less can have more. An assholes that says yes most of the time when the cashier at publix asks if do you want to give to X, Y or Z. All of that even though that asshole is getting the dog shit taxed out of him and her and after you polish that turd completely you see about .65 cents for every dollar that you earn.

I am a little agitated this morning but need to get back to work.

Oh and Heavy, you are much more positive about seeing a penny of the money you are shoveling into SS than I am. I do not think you or I will ever see a dime if we make it to full retirement.

Originally Posted by HeavyG

Very nice. Too bad the rest of Alabama is a shithole...

Please don't murder me, Nuck. It was just a joke.

We put the worst of the worst on national news so people like you will stay where you are

Originally Posted by Alundil

Perhaps if you had used a cheapola phone instead of your richy rich elitist smartphone.....

You mean the one you can get for free from the Gubment with 200 minutes per month if you cant afford one otherwise?

Originally Posted by Nuckle

So I am sitting on the couch last night reading this post in between catching up on work after already working a long day. My wife is on the other couch working frantically to solve an issue with her job and I get to read this post and get a peek at how some people view the world. I had to ask myself, is it worth it? Is it worth working nights, weekends, while on vacation or pretty much all the time to earn a level of income to be considered a rich entitled asshole? An asshole that on top of all that tries to help more by donating to the church, doing toys for tots, angel tree and just about any other seasonal deal that comes around. An asshole that never sells household items like refrigerators, TV's and cloths but instead always donates those items so someone with less can have more. An assholes that says yes most of the time when the cashier at publix asks if do you want to give to X, Y or Z. All of that even though that asshole is getting the dog shit taxed out of him and her and after you polish that turd completely you see about .65 cents for every dollar that you earn.

As someone who's been in a lower tax bracket in the past, and is currently in the ".65 cents for every dollar" bracket, I can say, yes, it's way, way better.

Originally Posted by dex71

The money that you get from SS and Welfare/Food Stamps was most likely put there by a rich person. They pay most of the taxes.

That's going to depend a bit on how you qualify "rich".

Social Security taxes only apply to the first (as of 2012) $110,100 of income [1]. In 2000, the cutoff was $76,200.

For someone who has an income of, say, $500,000, I won't blame them for wishing they didn't have to give up 4.2% of the first 100k, but I will say that if they start complaining about it too loudly it's going to sound a awful lot like whining. Social Security taxes are regressive.

Compared to other modern countries (I looked at Gini coefficients for OECD countries [3], there are other ways to measure it), income in the US is one of the most unevenly distributed. But even though a large amount of income here goes to a smaller percentage of people, those incomes to NOT pay into the system proportionally. The vast majority of Social Security money comes from people earning less than the cutoff income (the cutoff is called the Social Security Wage Base).

Average income, as the Social Security Administration figures it, was something like $44,000/yr. I couldn't find a chart that broke down total contributions by income level [4], but if you're looking for where "most" of the money in the Social Security system comes from, that's a good place to start.

There are lots of people in the US who would give their right ball (or tit, or other metaphorically valuable appendage, or the left one of those for lefties) to be earning $40k - $50k per year, but I'm pretty sure no one here wants to call that "rich."

Cheers,


AetheLove


[1] in 2013 the cutoff is $113,700

[2] the 4.2% rate was a break for 2011, 2012. It goes back up to 6.2% this year.

[3] Gini coefficients for OECD countries: http://www.oecd.org/els/soc/49499779.pdf (we're second worst to Mexico, so that's nice).

[4] but if you want to pay me to do it, I'll build and run a model for you which will break it down however you like.

[5] ssa.gov has lots of good general info.