They now tax my social security and RAPE me on Medicare. I pay 4x as much as someone who did not save and does not work. I also get ducked by IRMAA Do they pay my doctor 4x as much? I am not bankrupting the budget. I want the money I paid in. It was never a welfare program but a retirement plan.
They now tax my social security and RAPE me on Medicare. I pay 4x as much as someone who did not save and does not work. I also get ducked by IRMAA Do they pay my doctor 4x as much? I am not bankrupting the budget. I want the money I paid in. It was never a welfare program but a retirement plan.
Actually, the Supreme Court rule in 1937 that Social Security was NOT a retirement plan but simply an excise tax.
In 1960 the Supreme Court ruled that workers have no legally binding right to their Social Security benefits, and that it can be cut or eliminated by an act of Congress. They further defined it as a payroll tax coupled with a welfare system.
It became a welfare plan. Btw, the reason there is a limit on the amount “ taxed “ is because the government was afraid that people would put more in and thus the government would be forced to pay more out at retirement age. Limited contributions to limit benefits. Want to tax all my income - increase my benefit.
They now tax my social security and RAPE me on Medicare. I pay 4x as much as someone who did not save and does not work. I also get ducked by IRMAA Do they pay my doctor 4x as much? I am not bankrupting the budget. I want the money I paid in. It was never a welfare program but a retirement plan.
Actually, the Supreme Court rule in 1937 that Social Security was NOT a retirement plan but simply an excise tax.
In 1960 the Supreme Court ruled that workers have no legally binding right to their Social Security benefits, and that it can be cut or eliminated by an act of Congress. They further defined it as a payroll tax coupled with a welfare system.
Unfortunately it was both a welfare program OR a retirement plan depending upon the particular argument of the moment.
It became a welfare plan. Btw, the reason there is a limit on the amount “ taxed “ is because the government was afraid that people would put more in and thus the government would be forced to pay more out at retirement age. Limited contributions to limit benefits. Want to tax all my income - increase my benefit.
For SS you are mostly correct.
For Medicare you are mostly incorrect.
And unlike SS, Medicare has not now for decades, if ever, been funded by its dedicated taxes.