It is the millionaires on social security who cost the most, why don't they ever mention that?

it wasn't poor people who created credit default swaps and derivatives, it was extremely rich people.

It's not poor people who created all the national debt, it was when they bailed out all the rich people.

It wasn't the poor who shipped all the factories over seas to get cheap labor and make big profits off our honorable business system, it was rich scum who hate this country and hate people in general.

Are you drunk? A millionaire pays about $400,000 a year on every million. If he collects $5,000 a month he gets back $60,000 a year. It's even more lopsided if you take the case of someone who makes 20 million a year, pays 4 million or more in taxes and gets back 60k.

A retired millionaire as you put it has been paying into social security he whole life...possible 40 - 60 years depending at what age they started working. And they weren't millionaires the whole time they were paying in, so that was expected and promised to them to be their retirement. Most likey that era op retiree's were hard working, delayed gratification and saved...much better then your lazy generation who now just wants them all kicked off!

Get off your ass and get a job!

Did you know that you only pay social security on like
the first $120,000 of income and all above that is
not subject to social security?

People who are super successful, like having
more than $1,000,000 in assets at retirement
should get a numbered plaque called the
Winner Of American Life Award" and no social security.

it isnt an entitlement

its their money they paid in

It seems you don't understand how social security works, OP.

NOT true.
When you have wages or self-employment income that is covered by Social Security, you pay Social Security taxes each year up to a maximum amount that is set by law. That amount has changed frequently over the years.
For 2015, the maximum amount of taxable earnings is $118,500.
[link to www.ssa.gov]

Income Subject to FICA Payroll Tax Increases in 2015
Earnings up to $118,500 hit by Social Security FICA tax; revise payroll systems by Jan. 1

High-earning employees will find more of their salary subject to Social Security payroll taxes starting on Jan. 1, 2015.

Based on the increase in average wages, the maximum amount of earnings subject to the Social Security tax (the “taxable maximum”) will increase to $118,500 from $117,000 for 2015, the Social Security Administration (SSA) announced on Oct. 22. Of the estimated 168 million workers who will pay Social Security taxes in 2015, about 10 million will pay higher taxes because of the increase in the taxable maximum, the SSA said.

Social Security and Medicare payroll withholding are collected together as the Federal Insurance Contributions Act (FICA) tax.
[link to www.shrm.org]


Annual Maximum Social Security Tax
The Social Security tax is a federal tax imposed on employers, employees and self-employed individuals. It is used to pay the cost of benefits for elderly recipients, survivors of recipients, and disabled individuals (OASDI Insurance). Social Security tax is one of the payroll taxes paid by employees, employers, and self-employed individuals each year.The Social Security tax rate is 12.4 percent; 6.2 percent is withheld from each of the employer and employee. The full 12.4 percent is paid by self-employed individuals.Important Note: The "payroll tax cut" of 2% in the Social Security tax rate for employees (not employers) expired January 1, 2013. This cut was in effect for 2011 and 2012 payroll taxes.Social Security taxes are withheld up to a maximum amount, which changes each year. Here are the maximum wages subject to Social Security for the past few years:
2015 $118,500
2014 $117,000
2013 $113,700
2012 $110,100
2011 $106,800
2010 $106,800
2009 $106,800
2008 $102,000
To clarify, the maximum OASDI (Social Security) tax payable by an employee in 2014 would be $7,254 ($117,000 x 6.2%).
[link to biztaxlaw.about.com]

Learn some math.

Im sure you have sucked your fair share out of the system.what about all the money he has paid in to unemployment and never got back but then again youll take of that wont you. go back to playing with crayons you mouth breather.

15.3% of $118,500 is $18,130, while the low wage shlub pays what?

High earners can only collect on what they were taxed on, which now is $118,500 per year. Their social security payments are not based on what they actually earned, but what they were taxed on.

Uh OP, they paid in for years, now they enjoy the reward. Your liberal, victim like thinking is very Fergusonesque.

The drain on the government is the people who collect welfare and other subsidies who never contributed a dime.

Are you on any subsidies OP?


Make more money so your not so bitter. America is still a great place to make money. In fact, if you took most self made millionaires and made them change industries and give them 10 years, they'd be millionaires again.