How much cash do you need

[eatshitndie]

Social security is income lah ...when you contribute to SS, it was using pre-tax income and you didn't have to pay tax for that amount.

both social security and fica are set aside from income earned, which means one cannot draw upon them for any benefit until 62 for social security and 65 for medicare. it's like a big chunk of your income taken away by the federal gov to do something else like feeding welfare programs, bloat the gov, and pay interest on the federal debt without you having the opportunity to touch it until old age. any income that's taken away from you for decades can be considered a tax if it's not paid back to you in full and with interest. while i contribute hundreds of thousands to both social security and fica over 3 decades, i'll only be paid less than $1500 per month starting at 65 and less than $1300 at 62. if it's equitable, i should be getting back over $2000 per month for 30 years. high income contributors are being taxed disproportionately to help subsidize the rest of the community.

 

[eatshitndie]

Then why you no want to move back?

i'm back in sg sharing a room in bedok.

 

[winnipegjets]

i'm back in sg sharing a room in bedok.

Why suffer? I can rent you a room in my HDB exclusive flat for $888 a month plus, plus, plus.

 

[winnipegjets]

both social security and fica are set aside from income earned, which means one cannot draw upon them for any benefit until 62 for social security and 65 for medicare. it's like a big chunk of your income taken away by the federal gov to do something else like feeding welfare programs, bloat the gov, and pay interest on the federal debt without you having the opportunity to touch it until old age. any income that's taken away from you for decades can be considered a tax if it's not paid back to you in full and with interest. while i contribute hundreds of thousands to both social security and fica over 3 decades, i'll only be paid less than $1500 per month starting at 65 and less than $1300 at 62. if it's equitable, i should be getting back over $2000 per month for 30 years. high income contributors are being taxed disproportionately to help subsidize the rest of the community.

High incomes are tax too low ...should be 60 percent.

 

[eatshitndie]

High incomes are tax too low ...should be 60 percent.

you'll fit right in the bernie sanders socialist re-education camp.

 

[looneytan]

take into account the possible need for sudden medical bills or unexpected expenses like needing to go overseas to attend a function.

for tonychat he only need to go JB to visit his sick mum