On 8/3/2011 8:20 PM, Han wrote:
wrote in
:

On 8/3/2011 7:38 PM, Han wrote:
z wrote in
:

The point that hasn't been raised is that the
low-wage earners will get a higher percentage out of SS, as well.
The whole plane is shifted away from the makers to the takers.

I thought that payments were based upon your earnings, and the number
of quarters you were employed. At higher (retired) income levels, SS
is starting to be taxed, I believe.

I believe it was that the lower wage earners will statistically take
out proportionately more than they paid in, versus the higher wage
earners.

I certainly pay taxes on SS, because I'm still earning ... and still
paying in.

I'd have to redo my taxes and see the differences with and without SS.
Oh, wait. This is what the IRS says. Basically, if you have SS income
plus other income part of SS may become taxable.
http://www.irs.gov/newsroom/article/0,,id=179091,00.html

What I said, eh?

AAMOF, the government conveniently sends me a SSA1099 form so I can
declare it as income ... and pay taxes on it.

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