How's that Social Security working for you?
While this lady is miffed for what's happening to her SS and what she says is certainly valid...like so many others, she has the misconception that her employers paid into her SS. Since it was another false premise foisted on to the employees...that they paid in 1/2 and their employers paid in 1/2...the truth is, had there been ZERO payments by anyone, the employee could have bargained for another 15% income in EVERY paycheck.
Be that as it may, this lady has some very easy to understand numbers that everyone on SS should be aware of,...especially now since this current regime of corrupt Chicago henchmen want to call what those receiving SS checks, based on what they PAID IN to that retirement fund that was supposed to be a "lock box" for all working Americans, and provide some return on investment, albeit a pittance by any investment standard available to any intelligent worker.
But now, the Democrats want to rename these payments of earned income, into a form of subsidy...a gift from the all benevolent government...a way to shame those being reimbersed for their payments into that pathetically low interest savings account. It's now to be viewed as no different than those receiving food stamps, while standing in the welfare line. What a batch of weasely bastards you sorry-assed liberals have put in office to run this country.
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 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 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 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.
Another thing with me.... I have two deceased husbands who died in their 50's, (one was 51 and the other one was 59 before one percent of their social security could be drawn. I worked all my life and am drawing 100% on my own social security). Their S.S. money will never have one cent drawn from what they paid into S.S. all their lives.
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 of DOLLARS!!! And they can't help our own citizens in New York and New Jersey! They sure rushed to help Katrina victims in 10 days!!!!! I guess minorities have more clout!
Our retired seniors living on a 'fixed S.S. income' receive no additional federal aid nor do they get any financial breaks, while our government and religious organizations pour hundreds of billions of $$$ 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 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.