re: #142 lostlakehiker

As indeed they do, right now.

Today, the working poor do pay into social security, but they also get benefits at the other end. So that’s a wash, not really a tax. For the rich, social security is of little importance except if they hit a stretch of bad luck and become poor. If they remain rich into retirement, then some of their social security check will be taxed. For the rich, then, social security is not quite a wash, but it’s close. They lose just a little.

You forgot all the other taxes the poor pay. Social Security is paid with payroll tax, and many states have sales taxes, plus ‘sin’ taxes. Plus things like road tolls and transit fares.

The poor may not pay as much income tax, as they don’t have much income. But they pay a lot of other taxes.