Should rich people receive Social Security benefits?

[HiPointDem]

72. 1% of wage earners? i doubt it, top 1% of income starts at $380K (2010) and the social security

administration's own analysis says that even completely lifting the cap would cover only 50% of the projected actuarial deficit over the 75-year window.

http://www.ssa.gov/policy/docs/policybriefs/pb2009-01.html

Just a hint: projecting funding into this 75-year actuarial window is somewhat akin to pre-funding post office retirements, which is why there's a huge surplus in the TF.

and according to the social security administration itself, neither lifting the cap entirely nor lifting it in increments would fix the actuarial balance in the 75-year window, and only lifting the cap entirely would fix the balance when calculated into 'infinity'.

the percent of workers affected, per the ss admin, would be about 23% at some time during their lives; 1.8% of workers would be affected for 30+ years. top 25% would see tax hikes.




as the untaxed window gets smaller, 100% of wage income becomes taxable. all the criticisms i listed apply to the plan except that it's not such a sudden huge tax hit.

Nevertheless, it means the upper middle classes will be paying *way* more in taxes than 'the rich'. and they won't like it.

'the rich' however, will like it, because their plan is to eventually get workers to pay *all* the taxes, for everything.