They pay social security taxes on the first 184k/yr. They do not pay taxes on that part of their income above 184k.
They do, actually, receive social security checks, regardless of income or need, beginning at (or possibly before) the age of 70. Since they’ve been paying in the maximum, they are receiving the maximum benefit, $4152 per month, rather than the median benefit of $2083 per month.
You are wrong on both counts.
Further, there is a very strong correlation between income level and life expectancy. The median worker is typically collecting that $2083/mo benefit until age 76. But the median life expectancy of the wealthy is 9 years longer: They are typically collecting that $4152 benefit until age 85.
The people you are talking about are the ones posing the very highest drain on the system.
They pay social security taxes on the first 184k/yr. They do not pay taxes on that part of their income above 184k.
They do, actually, receive social security checks, regardless of income or need, beginning at (or possibly before) the age of 70. Since they’ve been paying in the maximum, they are receiving the maximum benefit, $4152 per month, rather than the median benefit of $2083 per month.
You are wrong on both counts.
Further, there is a very strong correlation between income level and life expectancy. The median worker is typically collecting that $2083/mo benefit until age 76. But the median life expectancy of the wealthy is 9 years longer: They are typically collecting that $4152 benefit until age 85.
The people you are talking about are the ones posing the very highest drain on the system.