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JasonsMom2007
Social Security?
March 20, 2013 at 3:31 PM

I saw this on facebook and found it very interesting.  What do you think?


KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT... THIS IS SURE SOMETHING TO THINK ABOUT!!!! 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 THATMONEY GO?

Remember, not only did you and I contribute to Social Security, but your employer did, too. It totals 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 I 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. If you have a deceased spouses who died in their 50's -- their S.S. money will never have one cent drawn from what they paid into S.S. all their lives over the past 30 years!

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 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 payments entitlements?!?

We're "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless.
Yet in the last few months we have provided aid to Haiti, Chile and Turkey. And now Pakistan......home of bin Laden. Literally, BILLIONS... if not TRILLIONS of DOLLARS are unaccounted for!!! 

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.
Sad isn't it. 99% of people won't have the guts to forward this. I'm in the 1% --
I just did.

Replies

  • JasonsMom2007
    March 22, 2013 at 10:40 AM
    What about the surplus money? Yes there are more workers approaching retirement age but those workers spent years putting money in. If there weren't as many retirees to support then as there were workers what happened to what was left? They certainly didn't give it to the retirees!


    Quoting annelauer:

    The entire first generation that paid into it were paying for those who came before them.  The next generation then paid for the first generation that paid into it.  It began at one generation behind and has remained so.  



    Quoting JasonsMom2007:

    Social security started in 1935.  What happened to all of the money that everybody is on social security now paid in?  I mean, those who were born in 1935 are now 78 years old so pretty much everybody who is on it should have paid into it.  And not all of them even made it to an age to draw social security! 

    The whole idea behind social security is you pay in so you can get that money back when you are retired.  It's not to give money to the older generation.  



    Quoting conniejo75:

    The problem is that money each of us pays in now is paying for those already on SS... some of whom never worked. Each generation has to pay in more to cover those already receiving.... it's not your own benefits.








  • conniejo75
    March 22, 2013 at 12:39 PM
    You forget it's not just retirees that get soc sec... disabled adults get it and some have never had jobs. Disabled children can also get it. My ex who is "disabled" & never worked enough to get benefits gets his Dad's benefits since his Dad passed away. There are a lot more getting it than just those that paid in.


    Quoting JasonsMom2007:

    What about the surplus money? Yes there are more workers approaching retirement age but those workers spent years putting money in. If there weren't as many retirees to support then as there were workers what happened to what was left? They certainly didn't give it to the retirees!




    Quoting annelauer:

    The entire first generation that paid into it were paying for those who came before them.  The next generation then paid for the first generation that paid into it.  It began at one generation behind and has remained so.  




    Quoting JasonsMom2007:

    Social security started in 1935.  What happened to all of the money that everybody is on social security now paid in?  I mean, those who were born in 1935 are now 78 years old so pretty much everybody who is on it should have paid into it.  And not all of them even made it to an age to draw social security! 

    The whole idea behind social security is you pay in so you can get that money back when you are retired.  It's not to give money to the older generation.  




    Quoting conniejo75:

    The problem is that money each of us pays in now is paying for those already on SS... some of whom never worked. Each generation has to pay in more to cover those already receiving.... it's not your own benefits.











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