If you think you paid for your Social Security benefits, here is a deal for you.
Do we have a deal?
Your Social Security benefit will not be taxable until you have received in benefits an amount equal to the payroll taxes you paid
then
100% of your Social Security benefits are taxable income.
Be careful what you wish for because 100% of your benefit will be taxable about six years or less after your first payment.
QUINNSCOMMENTARY 
Six years is obviously an average. Averages are deceiving. For some, like Ida Mae Fuller, she got all her money back in the first two checks (paid only $25 in taxes, but lived another 25 years after retirement and collected $22,000+) https://en.wikipedia.org/wiki/Ida_May_Fuller
Others, who paid in the maximum year after year after year after year might go 12 years before they got a refund.
But, sure, works for me, treat the monies you contributed as tax free until exhausted. I would take that anyday.
And, if you think someone else paid for your Social Security benefits, have the government change this entitlement into a contract that must be properly funded – whether through insurance (life insurance, annuity, etc.) or another funding vehicle where the refund of your contributions is a tax free death benefit.
Finally, don’t ignore the earnings on after tax contributions, which, if this were a Roth account, would also be returned to the taxpayer tax free.
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I think it is a useful exercise in helping people realize their hypocrisy when they complain about other welfare programs for the poor, not realizing that their social security benefit is a form of welfare as well. Advanced prosperous societies need safety nets for their citizens
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This is not welfare it is a giant Ponzi scheme where my benefits don’t come out of my contributions they come from my children and your children. Take a look at an old pay stub and you might see contributions from you to Social Security. At times the feds would “borrow” from SS Trust fund. Any other “welfare” program on your pay stub.
Welfare programs like WIC–Section 8–food stamps are meant to be temporary and a so called “safety net”. Last time I knew if you didn’t work and have 40 quarters of employment you got no benefit–you were eligible for welfare.
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Exactly, it is all socialism that fortunately America has adopted to make our lives better.
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Socialism is when the government owns, in all or part, the means of production–remember when the Brits had the government own airlines and steel mills? How did that work?
The welfare state is found in Europe with mixed success. Large safety nets–high taxes–many strikes especially in France.
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It’s not socialism. It’s not welfare. A break even wage is the same as a break even price. If a worker does not earn enough to cover his living expenses, he will die. Literally.
There are too many jobs that do not pay enough for a worker to survive, let alone support a family. But these jobs need to be done.
The “free market” is supposedly the most efficient way to allocate resources, but the market is never really free.
“Accordingly, Smith (Adam) believed wages should be sufficient to provide the ‘necessaries’, defined as middle-class comforts.”
Think of SNAP or other support as farm subsidies. They correct for market instability.
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Mr. Quinn
Please explain with specific details. I don’t entirely understand your writing:”Your Social Security benefit will not be taxable until you have received in benefits an amount equal to the payroll taxes you paid”.
Is this the result of new Congressional legislation?
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No, it’s just an illustration to show an alternative to the current taxation and to show people that they have not paid for their SS benefits, but only a minor portion of benefits most people receive.
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Ah Ha! This will never pass Congress! The glaring opposition will come from retirees who have been collecting Social Security benefits for a while. Imagine their outrage if they are now going to be paying even more taxes on their current S.S benefits since they have already reached that threshold of collecting what they have paid into it.
Fat chance!
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😳!!
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