Prof G says 10% to 30% of those on Social Security don’t need it

[thegreatdane]

@Tamhas

merely taking off the upper bound on the salary susceptible to the tax would solve the problem.

BINGO! We have a winner!

[ges]

There is something in the psyche of certain people such that they NEVER can feel they have ENOUGH.

I know people like this. Not ultra-wealthy but well off and never satisfied.

Evolution has not given us the mental tools we need for this modern world…in so many ways.

[tjscott0]

@Tamhas

I seem to remember hearing that merely taking off the upper bound on the salary susceptible to the tax would solve the problem.

But their benefit is capped. So they make the charge that it is unfair to remove the cap on the tax. Thus the link between contributions & benefits is broken. Yes low-income earners may pay a greater share of their income in Social Security payroll taxes than do those who are wealthier, they also receive a disproportionate share of government transfer payments that are not subject to the tax.