- 18 Oct 2023 08:43
#15291650
Social Security Disability Insurance (duh, it's in the name) can be called insurance even though it's run through a benefits program because all working taxpayers pay into it through their paychecks. It's a shared risk pool, one every poster will hopefully never take advantage of, because every working person pays into it. It just so happens to cover people who may never be able to join the workforce.
SSI is more akin to an annuity. If you pay into it by working 20 years (or more accurately, 80 quarters) you are guaranteed a payout upon retirement. That payout is based on how much you earn (SSI is only taxed up to ~$250K in income per year, after which you do not pay any more) in taxable income subject to Social Security taxes.
But what would I know?
Wattam has learned Tsun Zu's most important tactic: Always attack the enemy where they are strongest.
SSI is more akin to an annuity. If you pay into it by working 20 years (or more accurately, 80 quarters) you are guaranteed a payout upon retirement. That payout is based on how much you earn (SSI is only taxed up to ~$250K in income per year, after which you do not pay any more) in taxable income subject to Social Security taxes.
But what would I know?
Wattam has learned Tsun Zu's most important tactic: Always attack the enemy where they are strongest.
WRITER 4 HIRE
WILL DO RACISM FOR BEER, CASH
HELP A PATRIOT OUT
WILL DO RACISM FOR BEER, CASH
HELP A PATRIOT OUT