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Post by birdgal on Mar 17, 2024 17:02:26 GMT
Social Security is not a handout. It's our money! I started working when I was 17. When I got my first paycheck (that was a very, very long time ago) I wondered why I did not get the salary I was offered and who took money out of my check without my permission. Nobody told me about that. Ah, the innocence of youth. Those were the good old days. Lol.
The only job I had before that was babysitting, and I always got
50 cents an hour. I told you it was a very long time ago.
I wonder if anybody still hires a teenager to babysit these days. Anybody know?
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Post by finreporter on Mar 18, 2024 3:43:28 GMT
Yes I know families who still hire teens to watch their kids while the parents go out for date nights. I don't know what the going rate is though! My friend and I once even paid a teen to watch our kids while we were there at the house! We just didn't want to have to worry about them (they were all really young at the time, all under 10 and one as young as 3) so that we could sit around in the backyard having wine. That was over 4 years ago now. I think we gave her $100 for the evening.
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Post by DotRen on Mar 18, 2024 12:00:22 GMT
The main problem is that the people who have control over SS won't ever need SS. They get their $200k a year plus medical coverage for life, so what do they care about people who actually need it?
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Post by lani on Mar 18, 2024 14:19:43 GMT
Wikipedia has a very good article on SS. It says SS revenue exceeded expenditures between 1983 and 2009. But all the Boomers retiring are depleting the fund, more going out than coming in. Yes, we all paid into it, but it is financed by current workers. The money we put in has all been paid out.
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Post by linda72 on Mar 21, 2024 15:28:43 GMT
I've read that SS would never have any financial problems if they took SS out of more earned income. There is talk of raising the limit to $250,000. For 2024, no SS payroll tax is taken on salaries over $168,600 so the limit for this year is $10,453. That's a lot of money, for sure, but I wonder if people earning over that much would notice the extra money paid to SS. There is so much lobbying to not increase the earning limits so I doubt that will ever change.
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Post by amyrs on Mar 23, 2024 13:43:18 GMT
I havre a story to tell you yes ssa is earned and also sometimes like I should not be on survivors I should be on my ssa that I earned
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Post by finreporter on Mar 23, 2024 20:31:18 GMT
Linda, likely they would notice but not feel it. I get to enjoy a higher paycheck during the year for the remainder of the year because I hit the cap but it also feels wrong. I was fine with the deduction and didn’t notice or feel it. I have no problem contributing to SS even if I won’t really be using it someday. I will gladly contribute to others especially since the deduction doesn’t affect my life nor does it affect anyone else’s who meet the cap.
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