To: SamAdams76
Social Security benefit calculations heavily benefit lower income earners already. "High Earners" (those making over $85,000 annualy) receive far lower benefits for earnings in excess of $85,000 while paying full taxes. The current system of calculation is highly progressive. See:
https://www.fool.com/retirement/social-security/benefits-formula/#:~:text=Social%20Security%20benefits%20formula%202023&text=Multiply%20the%20first%20%241%2C174%20of,to%20the%20next%20lowest%20%240.10.
10 posted on
05/08/2024 6:49:06 AM PDT by
ExSES
(the "bottom line")
To: ExSES
True. My wife's Social Security monthly benefits are almost equal to mine and I outearned her during my career by about a 2 to 1 ratio.
We both haven't started collecting yet as I'm still working but can see what the benefits would be if we did.
11 posted on
05/08/2024 6:56:27 AM PDT by
SamAdams76
(6,575,474 Truth | 87,429,044 Twitter)
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