psychcaptain

psychcaptain t1_jbhg399 wrote

A widow only loses the benefits if they get married before age 60.

Do you know a lot of 50 year Widows living off their dead spouses Social Security Benefits?

We aren't talking about 75 year Meredith, we are talking about 50 year Sandra's, who should get a job.

And if they are disabled at 50, and getting DIB, they also keep their Spouses benefits.

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psychcaptain t1_jbhflr7 wrote

I am unsympathetic to Babies Boomers who voted GOP for decades, and now getting hurt by their own rules.

I do now a bit about Social Security Benefits though. As a widow, you get up to 75% of your spouses PIA as long as it doesn't exceed your benefits. Homemakers are screwed by this, but so is everyone without an income, whether you are married or not. God, if you have been disabled for a while, that's a lot of potential income you have lost for Social Security Benefits. You do get COLA.

But, I digress. As widow (er), you can get up to 75% of your spouses PIA, as long as it doesn't exceed your own Payments. Depending on the situation, that should be more than half the income people usually get, which makes some sense, because it's supporting half the people.

Here's the thing, if you remarry before 60, you might lose it (unless you divorce again), but if you remarry after 60 you don't.

If you remarry before 60, hopefully you are working and making your way in the world, and of reliant on your dead husbands pension.

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psychcaptain t1_jbhdj0l wrote

Ironically, I've worked in the retirement industry for over half a decade, and I do know the rules for 401(k) and Roth pretty well. I was talking about taxes per payroll.

Since we are talking about being dead, you aren't actually taxes on your 401(k). It can be passed on to your children and or spouse.

As for inheritance Taxes, I love it. It solves 3 distinct problems and no one suffers.

1). In a capitalist system, money should be earned. People should work for it. Competition should bring out the best. Generational Wealth distorts the system. It creates dynasties of people earning wealth on their wealth based on little or no input of the one holding it. It creates lazy lay abouts landless aristocracies and new version of feudalism. It breaks the system down.

2). The funding can be used for things that people care about, rather than statues, university wings of colleges you family will never attend, KKK groups or Libraries.

3). It helps people realize that they should spend their hard earned money and enjoy life. Accumulating wealth should not be something people do as an end goal Eye of a needle vs camels.

Now, I am happy to make exceptions for spouses and minor children, but outside of that, well, I hate the idea of creating more loop holes where none are necessary.

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psychcaptain t1_jbh9yqc wrote

Sorry, as a strong believer in Capitalism, and Earned Wealth, the idea of Generational wealth is horrifying.

You earn your own money, not get it past down to you. That shit is for pansy ass white lily aristocrat wannabes. This is the United States of America. You pull yourself up by the bootstraps, you work hard, and you get things done.

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psychcaptain t1_jbh9mhe wrote

Unmarried couples is a pretty easy problem to solve.

If they are unmarried for tax reasons than this is the risk they take.

As for the Fed, there is a lot they don't tax and a lot they do tax that is different from the state.

The Fed doesn't tax 401(k), but the State does. The State doesn't taxes 529, but the Fed does. It's not a serious argument.

Found families aren't taxed any different from regular families with kids over 21 so I don't think that works either.

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psychcaptain t1_jbh82j0 wrote

You mean pay for roads, police, hospitals and schools because Rich people do Fuck all with their money, except make sure their descendants stay wealthy, and give large endowments to build statues to their honor.

I have no interest in support somebody's Egyptian Pharaoh Cosplay, when the money could be better used in the Commonwealth.

If you don't like how the money is being used in the Commonwealth, do something about. Run for office and make a difference.

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psychcaptain t1_jbh4yxy wrote

Because it doesn't really matter to most people? Honestly, inheritance tax is still such a pittance, and does nothing to prevent the concentration of wealth into a new, crappy aristocracy.

The fact that people like Paris Hilton exist is a reason to support 100% I heritage tax when only adults are involved.

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