18% payroll tax----------

[madrchsod]

that`s about what the railroad retirement fund members pay in. guess what they get back--about twice as much as regular ss. poor george ,the truth is so elusive

[elehhhhna]

1. GW to young workers: "BOO!"

[Dr.Phool]

2. Not quite.

Railroad Retirement Tier 1 is the same as Social Security. Tier 2 is an additional 4% on the employee and 16% on the employer.

Benefits are more than double that of SS, and they have an excellent disability program. I'm currently on "occupational disability", meaning due to arthritis in my lower back, I can no longer perform my duties as a locomotive engineer. The SS standard is much stricter, as to being unable to perform ANY work.

[bahrbearian]

3. So did you decide to take the Job they offered you or

did you Retire early?

[Dr.Phool]

6. They don't offer you another job.

You have to be certified to be unable to perform YOUR job. Unions have seperation of crafts, so if I had to take a new job, I'd be a new employee. And lose 31 years of seniority. I retired at age 49, and I get about $2600 per month, after taxes, and another $1000 per month company pension.

[whistle]

4. What, there are different rates of social security deductions....

...and therefore higher benefits? How so?

[Dr.Phool]

7. No, only with Railroad Retirement

It was the forerunner of Social Security. And the additional rates for it are paid by all Railroad employees, and Rail Union Employees.

[Kansas Wyatt]

5. What difference does the payroll percentage make,

When Bush continues to blow all of the payroll taxes as though it were revenue from income taxes?

That is his real problem with Social Security, Bush does not want to put payroll taxes into a Trust, he wants to continue to blow it like it were revenue from income taxes and cut out the intended purpose for payroll taxes.