Should rich people receive Social Security benefits?

[HiPointDem]

47. it was never considered an investment or a fund. it was set up as a pass-through, with each

generation paying for the retirement of the one before it. each generation, on average, got more than it put in because the economy expanded -- that doesn't make it welfare. and we don't continue paying for "the wealthy" long beyond their original contributions, because 'the wealthy' don't get any more than 'the middle class'. the payout is capped. currently the highest payout is about $2500 for a worker retiring at age 67 this year -- and 65% of SS is subject to taxation if you have additional income over limits:

if you file a federal tax return as an "individual" and your combined income* is:

- between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits.

- more than $34,000, up to 85 percent of your benefits may be taxable.

if you file a joint return, and you and your spouse have a combined income* that is

- between $32,000 and $44,000, you may have to pay income tax on up to 50 percent of your benefits

- more than $44,000, up to 85 percent of your benefits may be taxable.

http://www.ssa.gov/planners/taxes.htm

your scheme would be complicated & expensive to administer & would destroy support for SS. it's a dumb idea. SS is *already* means tested (more than it should be, in my opinion, and thank you bill clinton for increasing SS taxation, you stand in the big right-wing shoes of ronald reagan).