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JDPriestly

(57,936 posts)

49. Social Security is not directly means-tested, but because of our tax system, it

Mon Apr 30, 2012, 03:48 AM

Apr 2012

actually is means tested. If you make over a certain amount of money, you actually pay a lot of your Social Security benefits in income taxes.

Social Security does not pay a lot per month. The average is somewhere around 1200 per month. It may be a little more now. I think maybe one-half of the benefit received each year is tax-free for those over the eligibility age.

It's complicated, but means-testing Social Security really would not mean much savings in my opinion. It might appear to add up, but those who have a high income and are receiving Social Security already pay taxes on 1/2 of what they receive.

The best thing is to simply raise the taxes across the board for those who have an income of over one million per year.

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Krugman just shut down the "raise the retirement age argument" George Will said raise it [View all] Pisces Apr 2012 OP

Definitely not. Guys like Will have no clue what work is for some people. If you brewens Apr 2012 #1

My body conked out in my mid 50s Warpy Apr 2012 #3

The appropriate phrase her is "he doesn't think of it at all" JHB Apr 2012 #13

I'm convinced the whole thing is seriously planned to take us back to the 1800's. brewens Apr 2012 #17

Their actions on the education front show the same plan. No need to educate people whose only value freshwest Apr 2012 #19

Look at the increasing costs of post-secondary education. chervilant Apr 2012 #27

I read something some time back, that I think illustrates what you are saying, too. freshwest Apr 2012 #41

Depressing just doesn't cover it... chervilant Apr 2012 #43

Add in the massive numbers of people who will be displaced by climate change Lars39 Apr 2012 #44

Life expectancy is meaningless unless the quality of life is prolonged aint_no_life_nowhere Apr 2012 #2

For a short time, we actually did slow aging a bit Warpy Apr 2012 #4

Better food and medicine only allowed people to live out their full potetial life expectancy aint_no_life_nowhere Apr 2012 #7

Life expectancy does NOT equal ability to work ProfessionalLeftist Apr 2012 #5

I prefer means testing to help Social Security. DCBob Apr 2012 #6

While that does seem like a reasonable solution there is a danger hidden in it. Right now it is hard jwirr Apr 2012 #9

Yes, I see your point. Maybe it could be set up like a deferred payment.. DCBob Apr 2012 #16

ooh, you mean like a "personal account?" yeah, maybe everyone could invest their own, too. HiPointDem Apr 2012 #24

no, that is not at all what I am suggesting. DCBob Apr 2012 #25

If that happens they'll put pressure on to limit it to the "truly needy"... JHB Apr 2012 #15

All they need to do is get rid of the cap on SS tax groundloop Apr 2012 #20

Yes, that would no doubt help. DCBob Apr 2012 #21

No measures will help DocMac Apr 2012 #51

You'll also have to alter the benefits formula customerserviceguy Apr 2012 #33

Maximum payout per year is already capped eridani Apr 2012 #47

That cap is directly tied customerserviceguy Apr 2012 #54

Employers could pay a higher percentage, but this shouldn't go to infinity eridani May 2012 #58

helping the less fortunate is NOT what the RW wants. We are arguing from different premises. CTyankee Apr 2012 #52

You might like an idea I've suggested here before customerserviceguy Apr 2012 #31

That generally sounds more fair.. DCBob Apr 2012 #34

I suggest WC records customerserviceguy Apr 2012 #35

Probaby best not to mention a paper cut in a logger bar. DCBob Apr 2012 #37

You'll get beer bottles hurled at you! customerserviceguy Apr 2012 #42

I prefer not making republican arguments on DU. Warren Stupidity Apr 2012 #36

Why is that a Republican argument?? DCBob Apr 2012 #38

Effective reductions in benefits will target the middle class. Warren Stupidity Apr 2012 #40

Means testing would be the Kiss of death of Social Security happyslug Apr 2012 #46

Social Security is not directly means-tested, but because of our tax system, it JDPriestly Apr 2012 #49

It was a thing of beauty. Krugman was on a roll this morning. Gidney N Cloyd Apr 2012 #8

Where was this? eyewall Apr 2012 #26

ThisWeek with George S. on ABC Gidney N Cloyd Apr 2012 #32

Thank you eyewall Apr 2012 #53

I work with children, and adults, with disabilities HockeyMom Apr 2012 #10

I hear you. My back gave out at 62. I lifted my daughter and pushed/lifted her wheelchair etc. for jwirr Apr 2012 #11

It will work for George Will's target audience ... zbdent Apr 2012 #12

Life expectancy is longer sandyshoes17 Apr 2012 #14

+1 Gormy Cuss Apr 2012 #22

Life expectancy increased because the elderly no longer die from starvation and hypothermia fasttense Apr 2012 #18

I believe this is what they want. Cleita Apr 2012 #23

Useless eaters nobodyspecial Apr 2012 #39

Not quite true. Life expectancy FROM BIRTH increased because-- eridani Apr 2012 #48

If the retirement age is raised Mz Pip Apr 2012 #28

Exactly. And we already have rising unemployment for young workers. shcrane71 Apr 2012 #30

Life expectancy *at birth* has gone up, and that doesn't matter at all Recursion Apr 2012 #29

George Will has been WRONG on EVERYTHING for 40 years... lib2DaBone Apr 2012 #45

It's easy to work until 74... n2doc Apr 2012 #50

what a piece of crook that statement is Dokkie Apr 2012 #55

k&r n/t RainDog Apr 2012 #56

We are being manipulated and unrepresented fascisthunter Apr 2012 #57

Has pun-twit George "The Snore" Will had tsuki May 2012 #59