ST Alpha - "Don't SS benefits phase out? SS, in theory, was supposed to be 'you pay in, you get back later'" (Reading a Post)

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In response to "Why? It should be even higher. There's no cap for Medicare so why is there one for SS? -- nm" by Krusty

Don't SS benefits phase out? SS, in theory, was supposed to be 'you pay in, you get back later'

Posted by ty97 Oct 13 '21, 07:59

So if benefits are capped, pay-in should be capped as well.

Of course, in reality, the 'you pay in, you get back later' approach was broken by Congress decades ago, if it ever even worked that way.

Responses:

When you say phase out do you mean that if you earned a certain amount you don't collect SS? - Krusty Oct 13, 08:06 2
- There's a max you can get per month, regardless of what the formula says you should get -- (link) - ty97 Oct 13, 08:28
- Means benefits are capped at a certain amount, so there’s no additional direct benefit to paying into the system above that threshold. -- nm - znufrii Oct 13, 08:27
You are not just paying for yourself, Mr. Moneybags! -- nm - Spawn Oct 13, 08:06 7
- That was the original concept of SS wasn't it? -- nm - ty97 Oct 13, 08:23 1
  - My mother had not been married to my father for 42 years when he passed away. She gets a monthly check as well as my stepmom (Survivor Benefits). -- (edited) - Spawn Oct 13, 08:31
- Actually, at his age, he’s just trying to make sure he gets made whole. -- nm - Will Hunting Oct 13, 08:18 4
  - I would smack you but I can't determine which cane to use for it -- nm - ty97 Oct 13, 08:23 1
    - *cues the Up Old Man Fight scene* -- nm - Will Hunting Oct 13, 08:27
  - How will he ever afford his three weeks in France?! -- nm - znufrii Oct 13, 08:23 1
    - Three weeks? I can only eat so many croques! -- nm - ty97 Oct 13, 08:24

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Don't SS benefits phase out? SS, in theory, was supposed to be 'you pay in, you get back later'

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