Social Security?
Some people need and depend on SS money to live on after they retire. Other, wealthy people do not have to depend on that money for retirement and they still receive the benefit of social security and the governement will not let them refuse. I someone wishes to refuse retirement benefit from social security, why can't they? and maybe help someone else who is in need or put that money back into to pot for us people that by the time we retire there will be no ss money left?
Public Comments
- I find it highly unlikely that anybody would refuse the money, but they always can burn the SS checks instead of cashing them in. you can also arrange with your employer to deduct SS money from paycheck than necessary.
- Stop and think about it. The wealthy pay the most in to the system so why shouldn't they benefit. Anyone that is wealthy would be paying in the maximum amount set by law. You have to apply to collect it so I expect that if a wealthy person did not apply they wouldn't get the money.As with most laws it applies to everyone so there is no discrimination in either paying in or drawing out. However those that make over a certain income when on Social Security do have to pay income tax on some or all of the payments they receive. Those that receive less do not have to pay income tax on their benefits.
- If you don’t want Social Security benefits, you don’t have to take them. One of the factors of entitlement is you have to file an application. If you don’t file an application, you won’t get benefits. Even if you have filed an application, you can withdrawal the application at any point or stop the benefits. My suggestion, if you are receiving benefits, is to accept the money and find a favorite charity or charities to donate it to. Here is a link to information regarding retirement benefits.
