''Lest we forget.''
Who died before they collected Social Security?
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 beforer 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.
Perhaps we should send them notice........Fess Up and Get Out. Turn the Government over to someone who knows how to run it honestly.
Notice.....former employees of the US Government not welcome within a country mile of any Government facility. Regardless what it is!! Stay Out or you will be arrested and put in jail. No more hanky panky or 'panky hanky'.
You can make of that last one whatever you opt.
I bet we could count the truly honest people in our Government on one hand, two if we are lucky.
I wonder if they ever feel even a bit ashamed of themselves or a little rueful.