Obama Jobs Plan Meets Early Resistance From Republicans

YoureWrong­Again is indeed Wrong again. It would help if he or she had a clue.



There are three levels of benefits that are based on your lifetime earnings. . Those with the highest lifetime earnings reach the top limit. Low income beneficiar­ies receive the biggest percentage of their life time earnings. Middle income folks get benefits based on a lower percentage of their earnings than the low income individual­s, and highly paid workers reach a top limit. Those with Average monthly $7579 and retire at 65 in 2011 will get the maximum allowable payout of $2249. That is the maximum but it is adjusted each year. No matter who you are, Warren Buffet or a high income worker will get the same benefit amount. People who retire at 62 receive less based on their full retirement age. Those who retire at 70 with an average monthly life time earnings of $6,683 and retired this year would receive the maximum benefit of $3,193. So, there is no need to worry that the rich would draw huge benefits just because the earnings cap was lifted.
Read the Article at HuffingtonPost