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by scarface_74 963 days ago
The social security tax id capped. But so are the benefits amount. If you increase one, you have to increase the other.

Also, with my 401k plan, the amount I accumulate can be inherited when I die. I could also take some of it as a lump sum at retirement to pay off my house (hypothetically, mine will be paid off when I’m 60).
2 comments
frumper 963 days ago
> If you increase one, you have to increase the other.

Why would you assume that? Social security has been changed since it's inception, it's not written in stone. Changing the cap would be a relatively minor change compared to any changes needed if nothing is done.

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PaulDavisThe1st 963 days ago
The 401k plan is basically just permission to defer taxes on your own personal investment strategy.

While that can work out as a viable retirement strategy for some people, it's not really the basis of a solid, dependable retirement system for a nation.

> The social security tax id capped. But so are the benefits amount. If you increase one, you have to increase the other.

I don't believe that the laws and regulations for SS require this.

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