Skull Pilot
Diamond Member
- Nov 17, 2007
- 45,446
- 6,163
Personally, I think we should do away with SS altogether and let people use that 15% of their lifetime income to save for retirement in an account that they own privately and cannot be pilfered by the government to run its "legal' Ponzi/ Madoff scheme.
Bite the bullet and everyone under 40 should be off SS. the government can cut spending somewhere else to pay benefits to everyone over 40 and when that last person croaks, that's it.
But hey, you already can choose to opt out of a large portion of SS if you want. I do.
Start your own business and incorporate. Now the government tells you that you have to pay yourself some sort of salary, so pay yourself the minimum you can legally get away with and pay your SS taxes on that small amount. take the rest of your income as a distribution and avoid, payroll and SS taxes on that money.
Bite the bullet and everyone under 40 should be off SS. the government can cut spending somewhere else to pay benefits to everyone over 40 and when that last person croaks, that's it.
But hey, you already can choose to opt out of a large portion of SS if you want. I do.
Start your own business and incorporate. Now the government tells you that you have to pay yourself some sort of salary, so pay yourself the minimum you can legally get away with and pay your SS taxes on that small amount. take the rest of your income as a distribution and avoid, payroll and SS taxes on that money.