The Motley Fool Discussion Boards
Retirement Discussions / Retired Fools
|Subject: Re: Obama on payroll tax||Date: 6/17/2008 1:18 PM|
|Author: cliff666||Number: 13472 of 19577|
Seattle Pioneer continues to ask:
Why pay benefits to people who don't need them?
How much income does a person need? At what point do you cut off benefits? Is it the poverty line? Is it the $250k / year "middle class" cutoff? Is it $1M net worth? ...
It's easy to throw out the term "means testing". The question then arises, "How do we define 'means'?" Is "means" other outside income? Is "means" assets? How do we (they) know about assets? How about income from dividends and interest?
One of the stupidest things congress has done lately is to allow people to take SS at retirement age even if they still have large incomes. I know I did this, and I know several others who have. I used the extra income to pay down the house faster, but it is still silly to give working people social security. Social Security, to my mind, is retirement money, not an extra bonus for living to 65. This would be an easy leak in the system to fix.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|