THIS IS WORTH THE FEW MINUTES IT TAKES TO READ IT AND DIGEST!
A woman dies at age 65 before collecting one benefit check. She and her employer paid into the system for almost 50 years and she collected NOTHING.
Keep in mind all the working people that die every year who were paying into the system and got nothing! And our governmental morons mismanage the money and steal from the system so that it’s now supposedly going broke. BEAUTIFUL! And they have the audacity to call today’s seniors “vultures” in an attempt to cover their ineptitude. DISGRACEFUL!
F.Y.I. The Social Security check is now (or soon will be) referred to as a “Federal Benefit Payment”.
This is NOTa benefit. It is OUR money, paid out of our earned income! Not only did WE contribute to Social Security but our employers did too! It totaled 15% of our income before taxes.
Changing the name of SS contributions gives them a means to refute this program in the future. It’s free money for the government to spend under this guise.
The real reason for renaming our Social Security payments is so that the government can claim that all those social security recipients are receiving entitlements, thus putting them in the same category as welfare and food stamp recipients.
If you averaged $30K per year over your working lifetime, that’s close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employer’s contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you’d have more than $1.3+ million dollars saved.
This is your personal investment. Upon retirement, if you took out only 3% per year, you’d receive $39,318 per year or $3,277 per month.
That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration. (Google it – it’s a fact). And your retirement fund would last more than 33 years (until you’re 98 if you retire at age 65)! How much better most average-income people could live in retirement if our government had invested our money just in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger *Ponzi scheme* than Bernie Madoff ever did (or Lyndon Johnson).
They take our money and use it elsewhere. They “forget” (oh yes, they know) that it is OUR money they are taking. They didn’t have a referendum to ask us if we wanted to lend the money to them … and they didn’t pay interest on the debt they assumed. And recently they’ve told us that the money won’t support us for very much longer. (They NEVER say this about welfare payments?)
Is it our fault they misused our investments? And to add insult to injury, they’re calling it a *benefit*, as if we never worked to earn every penny of it. This is outright theft!
Just because they borrowed the money, doesn’t mean that our investments were for charity!
Let’s take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government.
Find a way to keep Social Security and Medicare going for the sake of the 92% of our population who need it. Then call it what it is:
Our Earned Retirement Income.