85% of Americans Willing to Raise Taxes to Save Social Security, Survey Shows

[Purdey]

https://www.selfemployed.com/news/social-security-payments-suspended-for-americans-abroad/

This should make some people happy.

[frank83628]

51 minutes ago, placeholder said:

Are you experiencing hallucinations similar to those of Frank83628? I'm going to try and offer you a little cognitive therapy here. I'm going to quote from the original post and then you can tell me where you see the bitching and crying.

 

"85% of Americans Willing to Raise Taxes to Save Social Security, Survey Shows

A new survey from the National Academy of Social Insurance, AARP, the National Institute on Retirement Security, and the U.S. Chamber of Commerce, in collaboration with Greenwald Research, finds that most Americans are willing to accept tax increases to prevent benefit cuts.

The survey shows that 85% of respondents believe Social Security benefits should stay the same or even increase, even if that means raising taxes on some or all Americans. It also found that only 15% of respondents preferred keeping tax rates the same, even if that means reducing benefits.

https://www.aol.com/85-americans-willing-raise-taxes-153018526.html

So its not a post relatng to possible SS cuts by the new administration?

[NoDisplayName]

14 minutes ago, pomchop said:

Or they could have the top wealthy people pay on all of their income and not be exempt after the first 150 k or so of income.... a guy making ten million a year pays same total amount into soc sec as a guy making 150 k...a guy making 100 million a year pays same total as the guy making 150 a year...therein is the rub...if the super earners paid the same percent into soc sec of their total income as the smaller earners with no cap it would go a very long way towards better funding.  But the rich have lots of congress in their pockets so that not likely to happen.

 

Cool beans. 

 

Make it a flat tax.  Everyone pays 10% of their income to sociable security, not capped.

 

But to be fair, the benefits are paid out in line with contributions, not capped.

 

The guy that pays $1000 into the system gets $1000 in benefits.

The guy that pays $100K into the system gets $100K in benefits.

 

What could be more fair?

[KhunLA]

30 minutes ago, pomchop said:

Or they could have the top wealthy people pay on all of their income and not be exempt after the first 150 k or so of income.... a guy making ten million a year pays same total amount into soc sec as a guy making 150 k...a guy making 100 million a year pays same total as the guy making 150 a year...therein is the rub...if the super earners paid the same percent into soc sec of their total income as the smaller earners with no cap it would go a very long way towards better funding.  But the rich have lots of congress in their pockets so that not likely to happen.

One of the more ignorant posts about taxation that I've read, since the last thread about a fair tax.

 

You might want to Google "what income brackets pay most of the income taxes in USA"

 

I know you won't, as ignorant people fear facts.  So have a quick read ...  Top 5% pay 66%

 

Half the people, only paid 2.3%, so not exactly a fair tax system.  

 

 

 

[John Drake]

14 minutes ago, Purdey said:

https://www.selfemployed.com/news/social-security-payments-suspended-for-americans-abroad/

This should make some people happy.

 

This is nothing new. Read the article link you posted. It's referring to Form 7162. We discuss it just about every year on AN, when they're mailed out in June.  

 

Quote

because they did not submit a required form called the Foreign Enforcement Questionnaire. The form is needed each year to confirm eligibility for payments outside the U.S.

 

[Lacessit]

A flat tax of 1.5 - 2% on revenue would probably fix every nation's budget.

 

Multinationals, corporations and billionaires can hide profits in a plethora of ways, they get a free ride compared to the average wage earner.

 

Example: Transurban in Australia had a net profit of $46 million. It paid $136,000 in corporate tax.

 

Its revenue was $4.6 billion. At a 2% tax rate, it would have paid $92 million.

 

Revenue can't be hidden, fudged, or shuffled off to a low tax environment.

 

One thing for sure, I would have been delighted to be paying only 2% tax in my peak earning years.

[Harrisfan]

3 hours ago, frank83628 said:

Jeez you're relentless with the bitching and crying. You must be having a really miserable retirement

Liberals start whining age 2 and stop upon death.

[Harrisfan]

3 minutes ago, Lacessit said:

A flat tax of 1.5 - 2% on revenue would probably fix every nation's budget.

 

Multinationals, corporations and billionaires can hide profits in a plethora of ways, they get a free ride compared to the average wage earner.

 

Example: Transurban in Australia had a net profit of $46 million. It paid $136,000 in corporate tax.

 

Its revenue was $4.6 billion. At a 2% tax rate, it would have paid $92 million.

 

Revenue can't be hidden, fudged, or shuffled off to a low tax environment.

 

One thing for sure, I would have been delighted to be paying only 2% tax in my peak earning years.

Probably because they lost money in prior years and carried them forward. Taxing revenue is not a bad idea though but it should be low for small companies and higher for large companies. Something like 0.1% per $10m in revenue sliding up to 2%.

[flexomike]

1 hour ago, pomchop said:

It is half of your social security plus any additional income like interest etcv...add the two numbers and if it is 14,600 or more you have to file fed taxes.  I believe that is correct according to irs site.

it is half if under a certain level of taxable income, if one penny over then the tax rate goes to 85 percent on your Social Security income, 

[blaze master]

2 hours ago, placeholder said:

While I don't ordinarily indulge in personal comments, I have to ask if you've gone off your meds. Are you hearing voices or seeing things not visible to most of us? All I did was quote a news article. Not a word was mine.  No "bitching" or "crying" in the text. That it could generate such an over-the-top response from you should be a cause of major concern.

 

Overall your posts have a bitchy whiny tone to them most of the time. Pretty sure thats what was meant. 

[placeholder]

Just now, blaze master said:

 

Overall your posts have a bitchy whiny tone to them most of the time. Pretty sure thats what was meant. 

Overall, your claims are rarely substantiated.

[blaze master]

Just now, placeholder said:

Overall, your claims are rarely substantiated.

 

What claim. Im sorry if the truth offends you. 

[placeholder]

Just now, blaze master said:

 

What claim. Im sorry if the truth offends you. 

Anyone who claims that they what they say is the truth without offering evidence to back it up is in effect offering evidence...that they are a simpleton.

[nomad22]

3 hours ago, KhunLA said:

One of the more ignorant posts about taxation that I've read, since the last thread about a fair tax.

 

You might want to Google "what income brackets pay most of the income taxes in USA"

 

I know you won't, as ignorant people fear facts.  So have a quick read ...  Top 5% pay 66%

 

Half the people, only paid 2.3%, so not exactly a fair tax system.  

 

That's income tax you're talking about.  None of that goes toward social security.  Social Security tax is different--it's an additional 6% taken from your paycheck that most people don't even notice or know about.  Social Security tax does indeed stop at 150k earned income.

[KhunLA]

1 hour ago, nomad22 said:

 

That's income tax you're talking about.  None of that goes toward social security.  Social Security tax is different--it's an additional 6% taken from your paycheck that most people don't even notice or know about.  Social Security tax does indeed stop at 150k earned income.

I knew that 

 

For 2025 ... 6.2%  &  tops out at $176,100

 

If intelligent enough to be self employed 12.4%

NO KISS  ... NO KY

[kwilco]

On 2/10/2025 at 3:20 AM, placeholder said:

A new survey from the National Academy of Social Insurance, AARP, the National Institute on Retirement Security, and the U.S. Chamber of Commerce, in collaboration with Greenwald Research, finds that most Americans are willing to accept tax increases to prevent benefit cuts.

The survey shows that 85% of respondents believe Social Security benefits should stay the same or even increase, even if that means raising taxes on some or all Americans. It also found that only 15% of respondents preferred keeping tax rates the same, even if that means reducing benefits.

https://www.aol.com/85-americans-willing-raise-taxes-153018526.html

I see that many poorer republican supporters are concerned about loosing welfare and healthcare - they didn't rea;ise it would happen so quickly. THey are also concerned about the increase in prices brought about by the new tarriffs

[HappyExpat57]

On 2/10/2025 at 10:27 AM, frank83628 said:

Jeez you're relentless with the bitching and crying. You must be having a really miserable retirement

No, those are "bitching and crying" glasses you see the world through. He's pointing out facts, you're the one bitching and crying.

[HappyExpat57]

On 2/10/2025 at 11:19 AM, KhunLA said:

If survey done by AARP members, why not, as most pay very little or no tax on income, if that's what is going to get taxes.

 

I get more than the average Soc Sec disbursement, and it's non taxable.

I don't know what planet you live on. Social Security is taxed.

https://www.irs.gov/faqs/social-security-income

[nomad22]

7 minutes ago, HappyExpat57 said:

I don't know what planet you live on. Social Security is taxed.

https://www.irs.gov/faqs/social-security-income

 

 According to the link you posted, if your only income is social security, the first 50,000 annually is tax free.  That's more the twice the average Social Security. 

[HappyExpat57]

8 minutes ago, nomad22 said:

 

 According to the link you posted, if your only income is social security, the first 50,000 annually is tax free.  That's more the twice the average Social Security. 

Oops - I have a civil service pension, COLA's directly linked to social security.

[KhunLA]

4 hours ago, HappyExpat57 said:

I don't know what planet you live on. Social Security is taxed.

https://www.irs.gov/faqs/social-security-income

 

A little reading comprehension goes a long way.

 

On 2/10/2025 at 11:19 AM, KhunLA said:

If survey done by AARP members, why not, as most pay very little or no tax on income, if that's what is going to get taxes.

 

I get more than the average Soc Sec disbursement, and it's non taxable.

 

If like myself, 65+ & married, under the threshold, no tax paid, or even have to file a 1040.

 

I get more than enough for 'retirement extension' but under the taxable threshold 

 

On 2/10/2025 at 1:04 PM, KhunLA said:

No, I don't even have to file a 1040, I'm so poor...

 

 

$1868 X 12 = $22,416

(source)