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I was just having this talk with someone this weekend. The first solution is to lift the cap on Social Security taxation. Presently you’re only taxed for 2022 on the first $147,000 you earn. After that there is no Social Security tax so if you make $880,000 you only pay tax on the first 147. The original beliefs being that someone who earn so much money would never use Social Security, but we now pay for many things we never use. Childless people are taxed on their property to cover the cost of the school system. Arguments are made that a better school system help increase the value of the property but so does retired people having enough money to pay their bills.

 

There are several options.

My preference would be benefits calculated based upon pay-in woth no adjustments. No getting a good or bad deal. And an opt out option. Go ahead and uncap the tax if there's an opt out provision.

 

Opt out only on the >147k

We saw during the 'rona unemployment benefits run, when so many people were on UI that weren't before, who decided to opt out of deducting taxes in the immediate, and in turn ended up being surprised by their tax bill come April.

I can just see it now: 40 years of someone checking "opt out" and then being angry that they aren't getting anything out of SSI.

 

ya, the whole idea of ssi is you have to pay in (so you have to take it) to prevent people from fucking themselves and being a burden on the system later on in life. Ye

 

Nah. Opt out on everything.

There's no reason to create moral hazard for functioning adults. They need to endure the consequences of their actions.

Make em renew the opt out annually if you want.

Im interested in accountability and responsibility. A lot of our societal problems today stem from the idea that other people are responsible for person A's problems.

Adulthood consists of only two concepts:
- What is not your fault can still be your problem.
- The only person obligated to respond to your problems is you.

We need to get back to these core concepts with a vengeance.

 

Let's ditch that part too.

Keeping this economic:
Consumption without production is THE problem.

Didn't prepare for retirement? Clock in til you drop, or live like a destitute monk.

I'll fully back a societal support system for those who never had the opportunity to prepare (say, born with crippling cerebral palsy), but until you arrive at a level of permanent and complete disability (say, dementia or stroke later in life), you cope.

 

Adding here. I’m a shill.
Blowing some $GTii gains on a risky fortune 500 pharma with billions in profits and a new line of feline care drugs as innovative as apoquel for my itchy dog.
Solensia for cat arthritis.



got a nice gift box (not me but that lady I know )

 

NOPE.

 

Bank of England just said they're intervening until Friday, then pension funds are on their own.

Next week will be interesting to watch.

 

https://www.reuters.com/world/uk/ba...-funds-they-have-3-days-rebalance-2022-10-11/

 

That's why my mom took a buyout at retirement...no faith in the longevity in what they were promising even from a fortune 500...

 

Explanation of the U.K. Pension crisis

 

I wouldn't trust anything but US Federal. And even then, contingency plans.

 

Oh and this GEM

 

OOOOPS rug Pull

 

Inflation data in two days!

Prepare your buttholes because the housing component is just getting started shooting upwards

 

Thought housing prices were coming down. Should I sell?

 

When you snag 1 at IPO and then average down at $300