12-10-2016, 10:37 PM
I should also add that, I suspect, a lot of people with other significant savings are already voluntarily taking cuts by opting for earlier distributions.
But at the end of the day, it's all just a shell game moving taxes around between distributions and collections. What difference is there, really, if my 6.2% SS contribution is capped, but then my marginal rates go up 5-10%? I'm still paying the same in taxes, it's just going to different buckets. And SS is supposed to be a separate bucket and untouchable, but that's not really true.
But at the end of the day, it's all just a shell game moving taxes around between distributions and collections. What difference is there, really, if my 6.2% SS contribution is capped, but then my marginal rates go up 5-10%? I'm still paying the same in taxes, it's just going to different buckets. And SS is supposed to be a separate bucket and untouchable, but that's not really true.
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