VetOfTheSeas@discuss.online to Work Reform@lemmy.world · 14 days agoIt's riggeddiscuss.onlineimagemessage-square127linkfedilinkarrow-up11arrow-down10
arrow-up11arrow-down1imageIt's riggeddiscuss.onlineVetOfTheSeas@discuss.online to Work Reform@lemmy.world · 14 days agomessage-square127linkfedilink
minus-squarefizzle@quokk.aulinkfedilinkEnglisharrow-up0·14 days agoAre the benefits you might receive dependent on how much you contribute? This seems very “American”. As in, superior American-style-freedom because everyone pays for their own social security.
minus-squareFlexibleToast@lemmy.worldlinkfedilinkEnglisharrow-up0·14 days agoI’m pretty sure they are. The more you pay into the system, the more you get at retirement age. But, it’s also capped. I’m assuming that’s the rationale behind capping the tax.
minus-squareLastYearsIrritant@sopuli.xyzlinkfedilinkEnglisharrow-up0·14 days agoSocial security has a max payout, so it also has a cap on the taxes you pay into it. At a surface level, it makes sense, which is why it continues. Once you look into it even a little bit further, the max payout needs to stay, but the tax cap needs to be removed.
Are the benefits you might receive dependent on how much you contribute?
This seems very “American”. As in, superior American-style-freedom because everyone pays for their own social security.
I’m pretty sure they are. The more you pay into the system, the more you get at retirement age. But, it’s also capped. I’m assuming that’s the rationale behind capping the tax.
Social security has a max payout, so it also has a cap on the taxes you pay into it.
At a surface level, it makes sense, which is why it continues.
Once you look into it even a little bit further, the max payout needs to stay, but the tax cap needs to be removed.