THE ONLY THING WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!!
WHERE DID THAT MONEY GO?
Remember, not only did you and I contribute 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.
Read that again.
Did you see where the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to insure you and me that we would have a retirement check from the money we put in, not the Government.
Now they are calling the money we put in an entitlement when we reach the age to take it back.
If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (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.
THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.
Entitlement my foot; I paid cash for my social security insurance!
Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout!!
Remember the benefits for members of Congress?
* 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 payments entitlements?
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? It was supposed to be in a locked box, not part of the general fund.
WHAT CROOKS WE HAVE IN WASHINGTON
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Don't forget that Social Security ran a 50-100 billion dollar surplus for many years. The thieves in Washington stol that as well.
ReplyDeleteIt's called stealing and you and I would go to jail for that.
ReplyDeleteWhere do you think the bonus dollars for SS executives comes from?
ReplyDeleteSocial Security wasn't supposed to ever be touched by the government. This was the promise made by FDR to get it passed. In the mid-60s, LBJ opened up SS to be used as a push-key for government spending, theorizing they could pay current recipients with money being paid in by generations who weren't going to collect SS for decades. This is where the backlog began and its worsen ever since. In earlier times, most didn't live to 65 and that's why the original age was 62 Throughout the years the government continued to raise the age minimum to what we have now which is 70. Now, it's also abused by many who collect disability when they could hold a job but decide not to due to an illness which allows them to quit working if they choose. There are people now retiring in their early 50s due to some infirmary that keeps them from working their jobs of 'choice' or because they don't want to work any longer but not because of a physical inability to hold down any job. This is also abuse and unjustified draining and robbing the SS system too. If someone can jockey a PC 24/7 or stage and participate in protests, they are capable of holding down a job. Instead they opt to take disability which is your retirement money being paid out to a 40-something who is too lazy to work but not too lazy to start unnecessary trouble and be a drain on society.
ReplyDelete535 people who abuse the system by taking early disability when its unwarranted should be prosecuted and forced to pay every penny they got back through prison work.
ReplyDeleteWe all know of at least one disability abuser. What would happen if we all started reporting them? The new administration doesn't look like they would let it go unchecked. Just a thought.
ReplyDeleteOccurred under LBJ. Democrat of course.
ReplyDeleteEveryone pays into the system, moron, but money given to un-disabled people is robbing from the coffers to marked for real disabled people not the fakers.
ReplyDeleteFakers are disgusting pieces of sh%% and a waste of life.
ReplyDeleteThis was a very well written, logical thread from start to finish. So, don't expect a liberal or bureaucrat to understand it.
ReplyDeleteSince we're entitled to our own money, They're entitlements.
ReplyDeleteThis is why everyone should collect it at 62!
ReplyDeleteThe problem is that everything is a disability.. If you sneeze 2 times per day. Then you have a disability that disrupts your coworkers and could cause you to miss a key stroke while typing or veer off the road while driving, or drift off while using heavy machinery. Common sense says take a short break sneeze and then go back to work to prevent that. But the government doesn't see it like that.. it requires a check.. On and all of the new "hurt feeling" things will all be in the DSM-V creating more disabilities for transgendered (not sure if that is politically correct), or those who dress like other the sex that their outward appearance doesn't match. Oh its causing them anxiety, depression, etc.. and these kids being labeled with anxiety and depression at very early ages. Ho will they know how to function in society. Come on. As my grandmother used to say this world is going to hell in a hand basket. I just hope there is some sort of social security system around when I retire in 30 years or else I may have to Work myself in the grave.. because I would prefer to work instead of taking a hand out without earning it.
ReplyDeleteStart the dang hanging.
ReplyDeletePut it on TV.
Make their families attend and watch (so no of THEM thinks a "career" in politics might be a pretty good idea).
Leave them hanging for a few days and impose term limits on the new guys. Make them walk past the history lessons hanging from the lamp posts.
Cut their salary and put them under the same laws "we, the people" have been forced to adhere to and the same ones from which they exempted themselves.
That's just me. YOU can go ahead and ignore their lawless behavior and the Two Sets of Laws they throw right in your face. As a lesson to you.
And VOTE FOR THEM AGAIN.
Cheering wildly, of course.
Make Gov Pay Back All they Stole + Interest !!! Damn Them
ReplyDeleteLooks to me like the Benefits congress enjoys should be
ReplyDeletethe Ones We working people should have , Not them !!!!