@biggsag What did this theoretical two-earner couple contribute to SS over their working years, and what is the resulting effective growth rate of their contributions to give them the $5000/month you reference.
@DominicJPino Are you considering that the OASDI taxable wage limit has grown 130% since 2001 while inflation has been 83%? Doesn't that translate to higher contributions from high-earners compared to 2001, and explains the higher benefits?
Questions - 1) In example 1, what about the effects of the OASDI taxable maximum increases since 1990 (approx 50% in 2025 dollars)? Shouldn't contributors receive more back since they are putting more in? 2) In example 2 are you saying that the person earning $225K (and contributing ~$21K/year during their working years) is getting too much (at $45K/year)?
@DominicJPino I don't know. Are you saying that a 65 year old with a $300,000 house and $100,000 in a 401k, that paid into social security for 35-40 years, should not receive a SS benefit?
Happy Independence Day! You won the lottery the moment you became an American, whether by birth or by choice, whether you like it or not.
Our founding ideals laid the bedrock of prosperity and wellbeing for every American, and for billions of people around the world. ๐บ๐ธ