Have you noticed, your Social Security check is now referred to as a "federal benefit payment"?
Our Government gets away with way too much in all areas of our lives, while they live lavishly on their grossly overpaid incomes!
Remember, not only have we contributed to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500.
If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the government pays on the money that it borrows), after 49 years of working you'd have $892,919.98.
If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
Entitlement my butt, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!!
Congressional benefits ---- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my social security retirement entitlements? We're "broke" and can't help our own Seniors, Veterans, Orphans, and Homeless.
In the last months we have provided aid to Haiti, Chile, and Turkey. And now Pakistan ....... hideout of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$'s and Tons of Food to Foreign Countries!
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it’s time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.
Sad isn't it?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Google this and you will find Social Security has been "federal benefit payment" since the 1930s? As for the rest of the figures, googling will tell you this is another case of "figures never lie when liars figure, to suit their purpose".
ReplyDeleteI want my money back in one lump sum!
ReplyDeleteIf the government will simply give me back all the money they took from me along with the employer contribution they took, they can keep the interest money and we'll call it even. It is after all, my money, not theirs. Their money is the federal taxes they take from me every paycheck. They shouldn't get both. The hell with corrupt, over spending politicians.
ReplyDelete8:10 trying to defend the indefensible.
ReplyDelete8:10 is a goof and and a lackey. That latest "social security" increase? It is a tax increase, only CALLED something else. The extra billions they are collecting for "social security" is a scam. It is IMMEDIATELY (!) transferred by Congress into the general fund where they get their grubby, thieving, blood soaked hands on it and spend it like a drunken sailor. My God, we are so conditioned now. Time for REVOLUTION.
ReplyDelete