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I am so tired of people acting like those....sm

Posted: Apr 11, 2011

on Medicare are on the "dole" EVERYONE gets Medicare when they are 65, and it is not free, and there are deductibles that need to be met. I pay monthly for Part B coverage, suppemental insurance and pharmacy insurance, about $250 total. I have worked all my life and payed payroll taxes toward Medicare and Social Security for a good many years.

I do think that it is time to raise the ceiling on income that is subject to deductions. Any income avove $120,000 is not subject to SS and medicare deductions.

;

I so agree with you! - nm

[ In Reply To ..]
I've worked hard all my life too and Medicare is sometimes discussed as if it were some kind of undeserved Welfare. It isn't. It's a great program. Without it, I would not be able to get any kind of health care.

They paid into Medicare just like everyone else - sab

[ In Reply To ..]
With their higher tax bracket they probably paid more.

Good point! - nm

[ In Reply To ..]
nm

Misinformation - sm

[ In Reply To ..]
The income annual limit on which social security contributions are based is something like $106,800. So the "rich" do not pay more. . . as usual.

I definitely agree with you. - Backwards Typist

[ In Reply To ..]
I also think those who were self-employed for years and did not pay into the system (yes, remember the time you didn't have to contribute?) and now nearing retirement pumped in extra to get their quarters for SS should have to pay a penalty.

Case in point is DH's 2 friends who are 60 and 67 yo. Never paid in a penny until 4 years ago but paid in enough now that they will be getting more SS than DH, while DH paid in all his years, even when self-employed. Fair? Nope.

No, I don't remember that - qmxbpg

[ In Reply To ..]
I do, however, remember paying the entire amount since I didn't have an employer who kicked in half. "Self employment taxes," which include SS and Medicare, have always been more than actual income tax in my case. Now I can take half as a deduction, but I'm still paying my fair share.

Yeah - sm

[ In Reply To ..]
I was self employed and paid the whole amount of SS. Not sure what the other poster was talking about. I paid, I believe 15% being self employed and 7.5% being an employee. Sorry other poster, but your information is incorrect.

No, my info is not incorrect. It happened. - Backwards Typist

[ In Reply To ..]
I know they didn't pay into SS all the years they worked up to 5-6 years ago. The one friend was really complaining about having to pay but then they paid into it until they got their 40 credits.

illegal - cj

[ In Reply To ..]
If they weren't paying their self-employment tax, which is the SS and Medicare, then they were breaking the law or perhaps they did't even know what the SE tax was covering.

not according to SSA FAQ - ket

[ In Reply To ..]
I checked it out because I never heard of "buying" SSA quarters, although I do know that you can repay if you draw on government retirement plans and get credits back. I quote from SSA:

Can I buy credits if I do not have enough?
You cannot buy credits towards the 40 credits required for Social Security retirement. To earn credits, you must earn wages in a job covered by Social Security or have net income from self-employment.

to whom is this? - cj

[ In Reply To ..]
i dont think i said anything about buying credits. I said it was illegal not to pay the self-emloyment taxes.

Sounds like some farming sleight of hand shennanigans. - nm

[ In Reply To ..]
Seems the farmers collecting big subsidies were always doing stuff like this.

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