Should wealthy old people...

spiderlashes5000spiderlashes5000 Posts: 17,793Registered Users Curl Connoisseur
receive public entitlements like social security checks, Medicare, etc.? Or should benefits like that all be means tested, to slow their expenditure so the programs don't become insolvent/drained so soon?

Comments

  • Corrina777Corrina777 Posts: 3,204Registered Users Curl Connoisseur
    I would rather raise the cap on SS taxes then eliminate benefits. This way if everyone gets it, no one can complain about the taxes being taken out.
    [SIGPIC][/SIGPIC]
    3a/f/iii
    Modified CG since 11/5/11
    CLEANSE: CJ Daily Fix, DevaCare No-Poo, CHS Treatment Shampoo
    RO: SS Caitlin's Conditioner, CJ Beauticurls Strengthening
    LI: SS Repairing Protein Treatment, CHS Silk Leave-In
    STYLE: Re:Coil, Curl Keeper, Deva Ultra Defining Gel, Curls Rock Amplifier,Sweet Curls Elixirs Okra Gel and Hard Hold Gel, SS Curl Enhancing Jelly and Firm Hold Gel
  • claudine191claudine191 Posts: 8,221Registered Users Curl Connoisseur
    Interesting idea. Initially my answer is yes, especially since so much wealth is earned by companies who avoid taxes.

    I'm sure someone else will have a good argument against it.
  • scrillsscrills Posts: 6,700Registered Users
    If they paid into like everyone else, they should get it
  • TRBLTRBL Posts: 5,294Registered Users Curl Connoisseur
    Who makes the call on "Wealthy"? How could it be done without loopholes? Those that have a lot of money generally have a team of lawyers and accountants that could make it appear on paper that they don't fall into the category.

    In my opinion it would only end up affecting people who end up in a slightly too high income bracket, that don't have the above mentioned resources.
    When I grow up, I wanna be a Jiujitsu Turtle!

    My british name, courtesy of Ninja Dog Shade Haven-Staffordshire: TRBL Hough Jewelstone Turtleneck

    Its chaos a few hairs at a time. ~Minxy

    "Dispute not with her: she is lunatic." -Richard III
  • TRBLTRBL Posts: 5,294Registered Users Curl Connoisseur
    Could there be an option for people to 'opt out' of receiving SS? (probably only a very few would take it, but still, a thought)
    When I grow up, I wanna be a Jiujitsu Turtle!

    My british name, courtesy of Ninja Dog Shade Haven-Staffordshire: TRBL Hough Jewelstone Turtleneck

    Its chaos a few hairs at a time. ~Minxy

    "Dispute not with her: she is lunatic." -Richard III
  • fraufrau Posts: 6,130Registered Users Curl Neophyte
    if you pay into social security you should get your social security back, right?
  • spiderlashes5000spiderlashes5000 Posts: 17,793Registered Users Curl Connoisseur
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    Well, ppl pay for all sorts of things they don't personally benefit from, such as public schools (if they don't have children or their children attend private), welfare etc, disability, tax exept status for churches/nonprofits, corporate bailouts, aid to foreign gov'ts, gov't waste.....

    And you don't just cash out what you do or do not pay into SS; it depends upon how long you live and other factors, how much your spouse paid in....
    TRBL wrote:
    Could there be an option for people to 'opt out' of receiving SS? (probably only a very few would take it, but still, a thought)

    Yes, anyone can opt out. But few choose to.

  • JosephineJosephine Posts: 14,301Registered Users Curl Connoisseur
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    Well, ppl pay for all sorts of things they don't personally benefit from, such as public schools (if they don't have children or their children attend private), welfare etc, disability, tax exept status for churches/nonprofits, corporate bailouts, aid to foreign gov'ts, gov't waste.....

    So basically another tax for making more money? I am totally not for that.
  • spiderlashes5000spiderlashes5000 Posts: 17,793Registered Users Curl Connoisseur
    Josephine wrote: »
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    Well, ppl pay for all sorts of things they don't personally benefit from, such as public schools (if they don't have children or their children attend private), welfare etc, disability, tax exept status for churches/nonprofits, corporate bailouts, aid to foreign gov'ts, gov't waste.....

    So basically another tax for making more money? I am totally not for that.

    It would go to social security for elderly ppl who meet the financial criteria.

  • Fifi.GFifi.G Posts: 15,490Registered Users Curl Neophyte
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    One would hope so, but it all looks doubtful.


    I think people benefit from several things they pay into. I might not have children but I have family in public schools, and education is important for the growing and functioning of society. Disability... You never know. Welfare (again, you never know) is another one that can be very beneficial. I know numerous elderly who live on small pensions and would not be able to make it w/o commodities and heating assistance in the winter. Screw bail outs, Government waste, etc...

    That said, I do have my issues with the incredibly wealthy getting things that are not needed and with the able bodied who have never paid a dime into anything screwing the system and getting benefits. My beef with that comes out when compared to those who worked all their life and have a hard time making ends meet and getting needed assistance.

    I do agree with TRBL. It would cause problems for those slightly above the line. Thats normally the ones who suffer most when it comes to benefits/making ends meet.
    When I hear terms like "hipster" I think, who told cliques they could leave high school??

    [SIGPIC][/SIGPIC]
  • curlypearlcurlypearl Posts: 12,156Registered Users Curl Connoisseur
    It's complicated. I'm not wealthy (Burberry coat notwithstanding) but I'm doing OK. Most of my life I've worked as a secretary, admin. asst., so you get the idea. My parents left their money to charities. I rent, don't have a car, only took one big vacation, always worried about $$, lived in a tenement for a while, etc.

    I worked since I was a teen, often under pressure for jerks and some years worked double shifts: night secretarial jobs for lawyers (ugh) as well. My sister, who by her own admission is lazy, only worked off and on. Consequently I end up having to support her along with my brother. It's frustrating. I struggle out of bed on freezing mornings to make ends meet, she sleeps late and expects everyone to take care of her.

    Also, I paid into Medicare my whole life only to find out that drs. won't take it. I don't have any answers. Good question, though.
    2/c Coarse hair med. density.
    Highly porous. Color over grey.
    I love all the Curl Junkie products. Still experimenting with gels and curl creams. Still hoping for 2nd day hair....
    Every day is a gift :flower:
  • spiderlashes5000spiderlashes5000 Posts: 17,793Registered Users Curl Connoisseur
    Fifi.G wrote: »
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    One would hope so, but it all looks doubtful.


    I think people benefit from several things they pay into. I might not have children but I have family in public schools, and education is important for the growing and functioning of society. Disability... You never know. Welfare (again, you never know) is another one that can be very beneficial. I know numerous elderly who live on small pensions and would not be able to make it w/o commodities and heating assistance in the winter. Screw bail outs, Government waste, etc...

    Right, and SS would be there if you ever needed it. But if you didn't need it, you wouldn't get it.

    Under the current administration (administration of the program, not meaning the Obama administration), ppl will be getting only a fraction of the benefits in a few years that they receive now, bc funds are being drained too fast. And that means ppl who desperately need them.

  • multicultcurlymulticultcurly Posts: 5,136Registered Users Curl Connoisseur
    Well I know the Social Security system needs to be restructured because those of us in our 40s and under may not receive any money, though most of us pay into it. Social security IMO is a socialist program but I think it's needed. I feel that the money should go to those that need it most and should be based on need - not on how much you paid onto it. It's a safety net.

    Sent from my SPH-L710 using CurlTalk App
    3b/c, medium-coarse, low porosity, high density
    HG: Jessicurl Too Shea and Kinky Curly Curling Custard
    Shampoo: nonsulfate shampoo and Suave Naturals sulfate shampoo when needed
  • multicultcurlymulticultcurly Posts: 5,136Registered Users Curl Connoisseur
    Fifi.G wrote: »
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    One would hope so, but it all looks doubtful.


    I think people benefit from several things they pay into. I might not have children but I have family in public schools, and education is important for the growing and functioning of society. Disability... You never know. Welfare (again, you never know) is another one that can be very beneficial. I know numerous elderly who live on small pensions and would not be able to make it w/o commodities and heating assistance in the winter. Screw bail outs, Government waste, etc...

    Right, and SS would be there if you ever needed it. But if you didn't need it, you wouldn't get it.

    Under the current administration (administration of the program, not meaning the Obama administration), ppl will be getting only a fraction of the benefits in a few years that they are receive now, bc funds are being drained too fast. And that means ppl who desperately need them.

    I was typing my reply and didn't see your post until after I posted. I agree with you. It's sad and scary. I don't want to see elderly homeless people whose only downfall is because they can't work anymore and they didn't work jobs that offered a pension or 401K.

    Sent from my SPH-L710 using CurlTalk App
    3b/c, medium-coarse, low porosity, high density
    HG: Jessicurl Too Shea and Kinky Curly Curling Custard
    Shampoo: nonsulfate shampoo and Suave Naturals sulfate shampoo when needed
  • Corrina777Corrina777 Posts: 3,204Registered Users Curl Connoisseur
    My biggest issue with the way SS is set up is that income is only taxed up to $117,000. While it's certainly a lot of money, nationally about 8-10% of the population earn more than that (in some cases, significantly more). How is it fair that someone making $117,000 a year (which isn't totally crazy in some parts of the country) pays the exact same amount in SS taxes as a CEO who earns $10 million a year? I wouldn't support benefit cuts to anyone unless the income cap is eliminated first, only because I think it's one of the most logical things to do to maintain The SS system.
    [SIGPIC][/SIGPIC]
    3a/f/iii
    Modified CG since 11/5/11
    CLEANSE: CJ Daily Fix, DevaCare No-Poo, CHS Treatment Shampoo
    RO: SS Caitlin's Conditioner, CJ Beauticurls Strengthening
    LI: SS Repairing Protein Treatment, CHS Silk Leave-In
    STYLE: Re:Coil, Curl Keeper, Deva Ultra Defining Gel, Curls Rock Amplifier,Sweet Curls Elixirs Okra Gel and Hard Hold Gel, SS Curl Enhancing Jelly and Firm Hold Gel
  • BluebloodBlueblood Posts: 1,748Registered Users Curl Neophyte
    @Corrina777 - don't you know the rich work extremely hard for their money? Why should they pay more tax?

    Sorry my arguments stating that point of view are weak because I live in a country with a similar tax situation.

    What you need to realise is that the top earners are very good at finding loopholes in tax systems. So increasing the ss threshold won't increase the ss take and could well decrease it, as they would take measures to avoid paying it at all. These measures would be both legal and illegal.

    So the government has to balance getting some money out of very rich people rather than no money.

    Also earning x million from such high paying jobs doesn't mean all the money comes in as that year's salary even though it is that year's income so it will be taxed in different ways.
  • Corrina777Corrina777 Posts: 3,204Registered Users Curl Connoisseur
    Blueblood wrote: »
    @Corrina777 - don't you know the rich work extremely hard for their money? Why should they pay more tax?

    Sorry my arguments stating that point of view are weak because I live in a country with a similar tax situation.

    What you need to realise is that the top earners are very good at finding loopholes in tax systems. So increasing the ss threshold won't increase the ss take and could well decrease it, as they would take measures to avoid paying it at all. These measures would be both legal and illegal.

    So the government has to balance getting some money out of very rich people rather than no money.

    Also earning x million from such high paying jobs doesn't mean all the money comes in as that year's salary even though it is that year's income so it will be taxed in different ways.

    No, this is not the case, as SS taxes are calculated differently and are an entirely different beast from regular federal income tax. The loopholes that exist and that you speak of are for federal income tax. SS taxes are also flat, and not progressive like federal income taxes.
    [SIGPIC][/SIGPIC]
    3a/f/iii
    Modified CG since 11/5/11
    CLEANSE: CJ Daily Fix, DevaCare No-Poo, CHS Treatment Shampoo
    RO: SS Caitlin's Conditioner, CJ Beauticurls Strengthening
    LI: SS Repairing Protein Treatment, CHS Silk Leave-In
    STYLE: Re:Coil, Curl Keeper, Deva Ultra Defining Gel, Curls Rock Amplifier,Sweet Curls Elixirs Okra Gel and Hard Hold Gel, SS Curl Enhancing Jelly and Firm Hold Gel
  • Fifi.GFifi.G Posts: 15,490Registered Users Curl Neophyte
    Fifi.G wrote: »
    frau wrote: »
    if you pay into social security you should get your social security back, right?

    One would hope so, but it all looks doubtful.


    I think people benefit from several things they pay into. I might not have children but I have family in public schools, and education is important for the growing and functioning of society. Disability... You never know. Welfare (again, you never know) is another one that can be very beneficial. I know numerous elderly who live on small pensions and would not be able to make it w/o commodities and heating assistance in the winter. Screw bail outs, Government waste, etc...

    Right, and SS would be there if you ever needed it. But if you didn't need it, you wouldn't get it.

    Under the current administration (administration of the program, not meaning the Obama administration), ppl will be getting only a fraction of the benefits in a few years that they receive now, bc funds are being drained too fast. And that means ppl who desperately need them.

    It's been on that track for some time. I can remember talking about how little to nothing would be left for a majority of Gen X and following generations when I was in high school. *It was called cynicism but was realism.* That was usually followed by a Bleep the Boomers!!! (Sorry, nothing personal. It's partly a population issue created by Boomer parents and continued by Boomers. The rest was teenagers being teenagers).

    It would be nice if people who did not need it opted out, but I seriously doubt many would do it. There are too many out there that just want to snatch and grab.
    When I hear terms like "hipster" I think, who told cliques they could leave high school??

    [SIGPIC][/SIGPIC]

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file