Quote:
Originally Posted by Riot
SS isn't in trouble. That's just something that people who want to privatize it say. If nothing is done, it's fine until 2037, and after that, it can pay out at 78% of what it should. If nothing at all is ever done. A few small tweaks (raising the cap works very well) and that 78% payout is readily fixed, as has been done in the past.
|
For 2011, FICA is 15.3% up to $106,800 in wages - employee pays half; employer pays half.
Social security payments wouldn't be as high as they are IF the government hadn't frittered away endless amounts of taxpayer SS payments with no intention of paying it back, and IF there wasn't that "Earnings Suspense File" where billions of $$'s are supposedly languishing.
