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.
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 govt. 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 Madhoff ever DID.
Entitlement my ass, 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.
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 govt. 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 Madhoff ever DID.
Entitlement my ass, 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 of DOLLARS!!!
Our retired seniors living on a 'fixed SS income' receive no additional federal aid nor do they get any financial breaks, while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it's time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? It was supposed to be in a lock box, not part of the general fund. Sad isn't it?
We're "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless
Yet in the last few months we have provided aid to Haiti, Chile , and Turkey . And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a 'fixed SS income' receive no additional federal aid nor do they get any financial breaks, while our government and religious organizations pour Hundreds of Billions of $$$$$$'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? It was supposed to be in a lock box, not part of the general fund. Sad isn't it?
Let's clean house in November 2012 and get folks elected that respect Seniors rights.
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