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I continue to be productive (as an author) but do not receive compensation for this. I publish just like I did 40 years ago but this was (and is) technical stuff that does not yield any money. Most people who support open source software do not receive any funds for their efforts. My...

I too have paid in a lot of money in FICA taxes. Between myself and my employers, over $250,000 went to the social security administration (or trust fund). In 1984, social security benefits became subject to income tax. This is a decrease in benefits. link

Slightly off topic. This video The Social Security Trap: When Waiting Until 70 Becomes a Huge Mistake is interesting but a bit misleading in my opinion. The video assumes a real (inflation adjusted) annual portfolio growth of 8.8% and does not seem to take risk into account. It also starts with...

How would this work? Short term capital gains, pensions and distributions from IRA, 401k, 403b, etc. accounts are taxed as ordinary income. No FICA taxes. Long term capital gains, distributions from Roth accounts and inheritances are tax advantaged. Apply FICA taxes. Remove the income cap for...

I agree that applying FICA taxes to long term capital gains would be a mess and even applying FICA taxes to short term capital gains would cause some chaos. Applying FICA taxes to all untaxed distributions from retirement accounts (IRA, 401k, 403b, 457, Roth or otherwise) should yield plenty of...

The money contributed to a Roth account is post-tax money but the gains in the account are not. Income tax and FICA are different animals and applying FICA taxes to untaxed Roth distributions is different than applying income taxes to these same distributions; I can see this as a possibility.

The fund receives FICA taxes on a regular basis and cannot "dry up." Additional FICA taxes can be obtained by removing the earned income FICA cap {around $160K in 2024) and possibly applying FICA taxes to Roth account distributions or taking other measures.

I am going to steal a line from an investing newsletter to which I subscribe: from an unwitting mentor who’d tell you that very much contrary to the old adage, it’s sometimes better to “give a man a fish” than to teach him how to catch fish on his own, lest that man should keep fishing from your...

Do the reasons include race or is it simply not being prepared? Can you explain your comment in a bit of detail?

When I see comments like this and I see data like Black families owned about 24 cents for every $1 of white family wealth, on average and Hispanic families owned about 24 cents for every $1 of white family wealth, on average link: Federal Reserve Bank of St. Louis it makes me wonder. Two of my...

I felt a need to comment here. Your characterization of life on social security benefits is misleading for some people. Many people can lead a rich life primarily or solely on SS benefits, especially if they plan correctly or are lucky. Although I did have rice and beans today, I also live a...

Will you hire me as a 74 year old electrician (after my four year apprenticeship beginning in 2024)? ;)

Going to sleep early and waking up early caused me to look at news on my phone. Two articles caught my attention. 1.The US GDP is growing faster than the rest of the world US economy grows 5.2% in third quarter; higher interest rates eroding momentum (The link is not to the actual article I...

All of us have a stake in this issue! I agree that a long term solution is needed but not one that cuts benefits or reduces COLA increases. An open debt commission might be a first step toward a solution but not a closed door commission followed by a lame duck vote! I don't think politicians...

As I have mentioned before, I have a personal stake in this. I waited from 62 until 69 to take social security benefits. My SS benefits are slightly higher than the "maximum" due to the 24% bonus from the delayed retirement credits I earned by waiting. Waiting only cost me over 2/3 of the value...

This is my point!! And if the process is not transparent (e.g. voting during a lamb duck session with a plan possibly not revealed until after the 2024 election), then we can NOT have effective input!!!

This is my point!! And if the process is not transparent (e.g. voting during a lamb duck session with a plan possibly not revealed until after the 2024 election), then we can have effective input!!!

There are additional "solutions" available. Apply FICA taxes to all earned income (rather than just the first $168,600 in 2024), apply FICA taxes to distributions from Roth accounts, give medicare more power to negotiate with medical and drug providers, tie benefits to each individual's expected...

I hope readers here will read the NPR article and reach their own conclusions, rather than rely on my characterizations or those of Carla618 or anyone else. However I will respond to the previous post. That article is about two people who want a commission: Peters and Huizenga. The current...

Driving a few minutes ago, I heard on NPR this As federal debt grows, a bipartisan push for another commission to address it article. There is an ongoing and increasing push to "fix" the debt. Is it a transparent and honest effort? This (boldface) line suggests (to me) that the answer is "No"...