Siete
Platinum Member
- May 19, 2014
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1.1% and SS nnnnnnnever rears its ugly head again ..
Workers and their employers currently pay 6.2 percent of earnings up to $106,800 into the Social Security system, or a maximum of $6,622 each per year. Self-employed workers are required to pay 12.4 percent of pay up to the same cap. If the contribution rate were increased by 1.1 percent to 7.3 percent of earnings, Social Security’s projected deficit would be eliminated. Using this fix, a worker making $43,451 in 2010 would face a tax increase of $478 a year, or $9.19 a week, and the employer would face an identical increase.
$9 a damn WEEK ... keep your ass out of Starbucks , end of problem.
Source? Because I have to believe that if it were this simple, we'd already have done this.
12 Ways to Fix Social Security - US News
Workers and their employers currently pay 6.2 percent of earnings up to $106,800 into the Social Security system, or a maximum of $6,622 each per year. Self-employed workers are required to pay 12.4 percent of pay up to the same cap. If the contribution rate were increased by 1.1 percent to 7.3 percent of earnings, Social Security’s projected deficit would be eliminated. Using this fix, a worker making $43,451 in 2010 would face a tax increase of $478 a year, or $9.19 a week, and the employer would face an identical increase.
theres your source and 11 other ways to solve the problem ... yes, its that simple. Unfortunately nobody gives a shit just like I said.
G'day.
This one won't work Decrease the cost-of-living adjustment
The cost of living adjustment is what pays for rising cost of their health insurance.
It still keeps them at the same monthly payment each year, so they never see that cost of living adjustment.
Take away that increase and each year they will get less and less each year.
They can barely make ends meet as it is.
of course it won't ... you're smarter than the economists that say it will work.