Wealth gap

Social security was designed to favor low income workers. At age 63 someone with a lifetime earnings of $30,000 per year would receive $900 per month and someone with earnings of $60,000 would get $1,300 per month. The earnings were 100% more but the benefit is only 50% more. This design to offer more to poor is offset by the fact that rich people live longer. A man whose lifetime earnings were $300,000 would get $2,800 per month. His income is ten times higher but his benefit is only three times higher but there is another side to the story. The rich man lives 15 years longer. Conclusions. It's not surprising that those with more wealth tend to live longer than those with less. If you have more money, you probably have access to better health care as well as more nutritious foods. You also have less stress from worrying about money, and stress is a factor in mortality, as well. The rich man lives to age 87 and will collect $806,000 while the poor man who lives to age 72 will collect $97,000. This evens out the design of paying more to low income workers. One way to close the wealth gap is to cut off social security payments for people over a certain lifetime income.