Social security taxes

You are ignoring two important facts about the US social security system.

Current SS payments made by workers are mostly paid out to retirees within a few years. There is no big pot of money that these payments are going into where they can be paid back to you. The Social Security surplus is shrinking every year and will disappear entirely by 2018 at the current rate.

In fact, the projected Social Security's net cash shortfall over the next 75 years totals $25.33 trillion in 2003 dollars.

Most American citizens are in the same boat as an immigrant who pays SS and never gets to claim it. A 45 year old American citizen paying Social Security today will never recoup that money, because the Social Security system will be in a massive deficit by the time they retire. The money they paid in will have been paid to others many many years ago.

i.e.

SS 2004, worker retiring at age 65+4mos $1,825

SS 2020, worker retiring at age 70 will be lucky to get anything
 
all the more reason we should do something about it. we are NOT citizens and the system is making it extremely hard for us even to become permanent residents. as someone said immigrants are the step children of this country

morpheus12 said:
You are ignoring two important facts about the US social security system.

Current SS payments made by workers are mostly paid out to retirees within a few years. There is no big pot of money that these payments are going into where they can be paid back to you. The Social Security surplus is shrinking every year and will disappear entirely by 2018 at the current rate.

In fact, the projected Social Security's net cash shortfall over the next 75 years totals $25.33 trillion in 2003 dollars.

Most American citizens are in the same boat as an immigrant who pays SS and never gets to claim it. A 45 year old American citizen paying Social Security today will never recoup that money, because the Social Security system will be in a massive deficit by the time they retire. The money they paid in will have been paid to others many many years ago.

i.e.

SS 2004, worker retiring at age 65+4mos $1,825

SS 2020, worker retiring at age 70 will be lucky to get anything
Click to expand...
 
Hi

From this thread i Understood After getting 40 credits, if i go to India will get the retirement benfits from US.
My question is am I eligible to work in India? Is there any rule not to work like that?

Thanks for your reply.
 
LC2004 said:
Hi

From this thread i Understood After getting 40 credits, if i go to India will get the retirement benfits from US.
Click to expand...

Wrong. By the time you retire (I assume you aren't 50 yet), there will be no money left in the US social security system.

You will get them same thing all people currently paying into the system under 50 will get - probably nothing.
 
social security back payments

my employer recently discovered that SS was not been deducted from my pay check and he wants me to back pay my portion of SS taxes for the last 3 years ( which is quite a significant amount). Now I want to know that for my employer's mistake entirely am I legally liable to comply and pay back all that money? Why should I now suffer for a mistake my employer made 3 years back?
Any insights??
 
Last edited by a moderator:
Its better u do....

Well, in my case too, SS taxes were not getting deducted. So, first of all, I called my lawyer who had applied for my GC and asked if I should inform my employer and ask him to deduct SS taxes. She said, well if you want to be safe with ur GC, you should pay SS taxes. Its the law. Agreed, its your employer fault, but remember for GC to get approved, both ur employer and urself should be as "clean" as possible. At the I-140 stage you will be sending your W-2 forms to INS and it will clearly indicate that ur SS taxes deduction was zero. Especially, with the rules getting tougher, I would say you should pay SS taxes. I also checked with SS office and they said that irrespective or ur citizenship / status, u r liable to pay SS taxes. I researched a lot in this matter and figured out that if are not done with ur GC yet, just don't do it..........

dido said:
my employer recently discovered that SS was not been deducted from my pay check and he wants me to back pay my portion of SS taxes for the last 3 years ( which is quite a significant amount). Now I want to know that for my employer's mistake entirely am I legally liable to comply and pay back all that money? Why should I now suffer for a mistake my employer made 3 years back?
Any insights??
Click to expand...
 
$2000 per head, Hasband + wife = $4000 per month with negligible tax which is not even earned by H1B family.

Enjoy retired American at the Expence of Present Generation when after some years they will have no money to pay.
 
a clarification

So did you just start paying SS taxes when your employer discovered it or did you have to back pay your employer any tax which was owed by you during the time you did not pay the SS taxes?

ashishagl said:
Well, in my case too, SS taxes were not getting deducted. So, first of all, I called my lawyer who had applied for my GC and asked if I should inform my employer and ask him to deduct SS taxes. She said, well if you want to be safe with ur GC, you should pay SS taxes. Its the law. Agreed, its your employer fault, but remember for GC to get approved, both ur employer and urself should be as "clean" as possible. At the I-140 stage you will be sending your W-2 forms to INS and it will clearly indicate that ur SS taxes deduction was zero. Especially, with the rules getting tougher, I would say you should pay SS taxes. I also checked with SS office and they said that irrespective or ur citizenship / status, u r liable to pay SS taxes. I researched a lot in this matter and figured out that if are not done with ur GC yet, just don't do it..........
Click to expand...
 
ashishagl said:
Well, in my case too, SS taxes were not getting deducted. So, first of all, I called my lawyer who had applied for my GC and asked if I should inform my employer and ask him to deduct SS taxes. She said, well if you want to be safe with ur GC, you should pay SS taxes. Its the law. Agreed, its your employer fault, but remember for GC to get approved, both ur employer and urself should be as "clean" as possible. At the I-140 stage you will be sending your W-2 forms to INS and it will clearly indicate that ur SS taxes deduction was zero. Especially, with the rules getting tougher, I would say you should pay SS taxes. I also checked with SS office and they said that irrespective or ur citizenship / status, u r liable to pay SS taxes. I researched a lot in this matter and figured out that if are not done with ur GC yet, just don't do it..........
Click to expand...
 
I paid every penny

First of all my employer did not discover this. I did and then I told him after consulting with my attorney. I back paid him every penny of SS tax which I owed during the time I did not pay SS taxes.

dido said:
So did you just start paying SS taxes when your employer discovered it or did you have to back pay your employer any tax which was owed by you during the time you did not pay the SS taxes?
Click to expand...
 
About the Lobby

I did some research on this issue during late 90's when some one told me that the government gives you a one time opt-out option and found that it was completely wrong. So, if you ever hear anything like that, please do not beleive. just a heads up.

Coming to the lobby group, there was this Indian lobby group that was very active during past couple of years and slowly simmered down. No one really knows the status of that anymore.

Yes, everyone agrees that it is a stupid system to ask temporary workers to pay SST and I know it does not make any sense. Some one pointed out that when US gov does this, it is not in the person's individual interest. Wake up dude, since when did you ever think US gives a sh*T about what we feel and what we think. Wake up and look around, the NUMERO UNO priority of the US Gov is to guard its self intrest. And they do it in a variety of ways and under the disguises of fighting communism, war on terror, war on tyrrany and the latest trend, spreading democracy.

I know I am getting a little off-track here but just venting out my frustation along with others. The fact is, the first 87,000 dollars of your income is SST'ed. Like someone pointed out, you need to earn 40 credits to be eligible, immigrant or not.

I think, who ever started this thread, it was a very good idea and we should realize that there are about a million NRI's in US and the US cannot neglect voices from that many people. Let us frame up something and atleast give it a try. Who knows what happens.

Regards

A co-frustator :)
 
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