@tom_barmadillo FYI
Total Combined Assistance: combining multiple safety-net programs (such as SNAP, Medicaid, housing subsidies, and tax credits like the EITC), total annual government support for a low-income family can range from $24,000 to over $40,000 per year depending on state & household
@MrsCMFrancis@brittilina Look beyond today. What happens in 30 years when millions of people with nothing saved start retiring? Do we now put them on welfare? Does that solve the problem or just shift the burden to a different agency.
@brittilina You have a choice you can fund someone on government assistance who hasn’t worked a day in their lives or fund someone who spent 40 years paying taxes. 30% of the population are on government assistance.
@SimpleThoosie@Create_Profit Social Security is operated like a not for profit charity. It’s about time this government look at some of these programs like a business and start making money with it like a bank or Wall Street broker.
@Fictionalathrty You don’t think 401k’s are taxed. At a certain age the government forces you to take money out even if you don’t need it. Now if that gets over a certain level your Social Security gets taxed.
@BumpkinEsq Great idea! Maybe you��ll get $100,000 cash back. Now your $50,000 salary that get 12% federal taxes taken out jumps to $150,000 and 24% tax is taken out. You lost $6,000 in salary and $24,000 from your money you put into Social Security. No, I’m wrong, you lost $36,000
@turnerrobert111@LeftyCrypto Interesting. I guess I hadn’t realized we are retiring faster than we are dying out. Maybe this problem is going to take a lot more than just changing how SS operates.
@TheJaredian Well we appreciate that you’re telling us we were lied to while we’re getting Social Security. It really doesn’t matter how we perceived the way the system was set up now does it?
@turnerrobert111@LeftyCrypto Well we’re not getting out of this hole with 47% of Americans not paying any federal taxes or 1 out of 3 Americans getting federal assistance. In ten years most boomers will be gone. SS and healthcare costs should lower as less people retire.
@turnerrobert111@LeftyCrypto What have you figured out? When people retire 30 years from now and they have no savings beyond a year or two what’s your plan? Say you saved $2 million dollars at retirement. How much will that be worth in 30 years?