General Discussion
In reply to the discussion: "I live on $710.00 a month, what exactly am I supposed to cut?" [View all]MissB
(15,806 posts)We are both Democrats. Dh is a private sector engineer and has worked for the same firm for 25 years.
I point the above out because we aren't Wall Street folk- dh is just fortunate to keep with the same employer over a long period and happened to get an engineering degree. We make under $250k/year, so we avoid some of the higher taxes. But we hit the SS cap on dh's salary each year. And each year it is earlier, because his employer gives him a raise each year. (I never hit the cap with my salary, because I'm a public sector engineer).
We think the cap is stupid. Those of us that earn more should pay more. We've been fortunate. It should be reflected in the taxes that we pay. How we treat the elderly (who worked hard but earned less because wages were smaller when they were in their peak earning years) and the poor should reflect that.