Editorials & Other Articles

Tomconroy

(7,611 posts)

48. The FICA is too low.

Sun Jul 4, 2021, 05:58 PM

Jul 2021

And the cap on SS taxes need to be raised. At heart I am a fiscal conservative. Programs should be paid for.
But few issues are as important as taking care of the elderly. In a just society everyone should be entitled to enjoy a financially secure retirement. Just as young families should be entitled to good child care. And yes, it will all take much higher taxes. We could all take a lesson from Europe. From cradle to grave, let's take care of our people!

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

63 replies

= new reply since forum marked as read

Highlight:

I can't live on $709 a month: Americans on social security push for its expansion [View all] jmbar2 Jul 2021 OP

Housing costs for seniors go up much faster than inflation RainCaster Jul 2021 #1

I was thinking of the movie Nomadland jmbar2 Jul 2021 #2

I see a lot of these folks every week RainCaster Jul 2021 #3

That book was NOT fiction. notinkansas Jul 2021 #5

Added for jmbar2 notinkansas Jul 2021 #6

I got what you meant... jmbar2 Jul 2021 #15

The elimination of fixed benefit private pensions Tomconroy Jul 2021 #4

Yes, we were told to relax on the three-legged stool of retirement; Ilsa Jul 2021 #8

401K's were supposed to take care of everything MiniMe Jul 2021 #11

It struck me at the time Tomconroy Jul 2021 #16

And blame all the employers who got rid of pensions because of 401K's MiniMe Jul 2021 #19

Could not agree more. Tomconroy Jul 2021 #22

a ridiculous notion from the start Skittles Jul 2021 #43

401k worked much better for me than a pension would have MichMan Jul 2021 #40

maybe you could pony up a few bucks for DU Skittles Jul 2021 #45

Ha! not fooled Jul 2021 #56

Pensions were never universal. Never. At best, maybe 40% of workers were covered by them. PoindexterOglethorpe Jul 2021 #46

Valid points. But 40 percent Tomconroy Jul 2021 #47

Agreed MichMan Jul 2021 #50

It might not be easy to do Tomconroy Jul 2021 #54

Biden mentioned tying minimums to poverty level bucolic_frolic Jul 2021 #7

I could live in bloody luxury on 1200 a month. n/t malthaussen Jul 2021 #12

Zero. madamesilverspurs Jul 2021 #9

Too, too true. quaint Jul 2021 #10

We get the "raise" in January leftieNanner Jul 2021 #29

I can't live on $709 a month either. panader0 Jul 2021 #13

yes older people and the disabled XanaDUer2 Jul 2021 #14

K&R Solly Mack Jul 2021 #17

If $15 is needed for minimum wage, shouldn't SS benefits match that sum? . . . Journeyman Jul 2021 #18

This is SO badly needed! ShazzieB Jul 2021 #20

We love you! Tomconroy Jul 2021 #23

You are the poster child of why the 401K trend was simply a ripoff! jmbar2 Jul 2021 #24

I just left mine alone after 2009 and they recovered MichMan Jul 2021 #57

When one spouse becomes deceased that SS payment should continue just as if s/he in2herbs Jul 2021 #21

Absolutely! jmbar2 Jul 2021 #25

I think that's the way it works. Tomconroy Jul 2021 #27

Sorry - Social Security for one spouse goes away when he dies leftieNanner Jul 2021 #30

I could be wrong, but I still think I'm right. Tomconroy Jul 2021 #34

I misunderstood what you were saying leftieNanner Jul 2021 #38

Now that I think about it Tomconroy Jul 2021 #52

As I understand it SteelReel Jul 2021 #41

Im 72 and disable Cryptoad Jul 2021 #26

This is an issue that needs to be brought up Tomconroy Jul 2021 #28

It can't come from the next generations though!! Jon King Jul 2021 #31

I disagree. Tomconroy Jul 2021 #35

The payroll tax didn't need to be raised. The income cap on the payroll tax needs to be eliminated. Sibelius Fan Jul 2021 #58

I live in one of 14 states that your SS gets "offset" if you can draw a state retirement. It is a Evolve Dammit Jul 2021 #32

Government Pension Offset? (GPO?) RVN VET71 Jul 2021 #36

You do get a reduced SS benefit of you had Tomconroy Jul 2021 #39

Mr. Bayard's parents both died within a few days of each other last year Bayard Jul 2021 #33

FYI, the so called "Full Retirement Age" for Social Security is now between 66 and 67 RVN VET71 Jul 2021 #37

Another Greenspan 'reform'. Tomconroy Jul 2021 #53

and passed by a Democratic House MichMan Jul 2021 #61

Let's pretend it's relevant! LanternWaste Jul 2021 #62

We need Liz Warren to speak out every day Tomconroy Jul 2021 #42

So where will the extra benefits come from? roamer65 Jul 2021 #44

The FICA is too low. Tomconroy Jul 2021 #48

I agree with you on the elderly. roamer65 Jul 2021 #49

Check out Japan to see what Tomconroy Jul 2021 #51

Sadly seta1950 Jul 2021 #55

now that Ronnie Raygun is dead mdbl Jul 2021 #59

Well he couldn't have done it without help MichMan Jul 2021 #60

Well what were they thinking? mdbl Jul 2021 #63