To me Social Security is a waste of my money. I cant retire till I am 70 and by then , there will be nothing left. If I invest or even bank that money, I will be getting a lot more productivity out of it. Are there any tricks to get out of the SSI system?
2007-08-29 05:05:44 · 10 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Only trick that will work would be to get a job with the federal, state, local government or certain religious organizations. They basically don't belong to social security, but have their own retirement system instead. My wife works for the State of Massachusetts, and contributes to Mass Retirement system instead of social security. She still has to pay medicare taxes though.
2007-08-29 05:19:34 · answer #1 · answered by Anonymous · 1⤊ 0⤋
As mentioned certain religious positions will get you an exemption.
Also, if you work for a railroad you are are not in Social Security but are in the railroad retirement fund. The rates are comparable.
So no, you can't get out of paying even if you never intend to collect.
2007-08-29 05:15:54 · answer #2 · answered by fredrick z 5 · 0⤊ 0⤋
Some fields of work do not have to pay into social security. My little brother works for the railroad and does not have to pay into it and my girlfriend works for a school and does not pay into it. They both have a different plans that pay a pension instead.
2007-08-29 05:15:16 · answer #3 · answered by A.Mercer 7 · 0⤊ 0⤋
No! With very few exceptions, mostly for religious reasons. How would you expect the government to pay for all of those Social programs if they didn't take your money.
2007-08-29 05:19:05 · answer #4 · answered by ? 6 · 0⤊ 0⤋
If you are on SSI then you could call and ask them how many hours you are able to work. You could get a job working for cash and just invest your checks like you suggested.
2007-08-29 05:16:30 · answer #5 · answered by Jullie F 1 · 0⤊ 0⤋
Nope.
Wayne Z is correct about a few exceptions for some recognized religious organizations, but those are nothing you can just tag onto.
2007-08-29 05:15:17 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
minister in some churches is exempt
some state employees in some states are also exempt, BUT have to contribute to the state's plan instead.
Of course, you could write your Congressperson and Senators. Organize with other people your age to fight this huge giveaway of your tax dollars.
GL
2007-08-29 05:11:18 · answer #7 · answered by Spock (rhp) 7 · 0⤊ 0⤋
Become a public school teacher. That is the major uncovered group at present.
2007-08-29 06:45:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋
No.
The are a few exceptions for the Amish, Menonites and certain pastors/ministers but for the rest of us......Nope.
2007-08-29 05:10:06 · answer #9 · answered by Wayne Z 7 · 0⤊ 0⤋
None. It is the law that your employer must deduct the money from your paycheck.
2007-08-29 05:10:31 · answer #10 · answered by Jessica 4 · 0⤊ 0⤋