Remember, not only did you 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 value of $4,500 per year (yours & your employer’s contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working (me) you’d have $892,919.98.
If you took out only 3% per year, you receive $26,787.60 per year and it would last better than 30 years, 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 had.
Entitlement … my ass, we paid cash for our social security insurance!!!! Just because they borrowed the money, doesn’t make our benefits some kind of charity or handout!!
Congressional benefits, aka. 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 our retirement entitlement!!!!!!
What IS wrong???
WAKE UP AMERICA!!!!
April 12, 2011 Calif. Daily Bulletin paper, ran two articles on the front page side by side :
1- California 20 Billion Dollar Budget Deficit
2- The California Supreme Court ruling that ILLEGALS can attend college and get benefits.
Why don’t they just deport them when they arrive to register?
3- Last year they ran an article on the yearly costs to California Taxpayers from Illegals using Hospital Emergency Rooms for their general health care –
At just one hospital the cost to tax payers totaled over 25 million a year
Someone please tell me what IS wrong with all the people that run this country!!!!!!
We’re “broke” & can’t help our own Seniors, Veterans, Orphans, Homeless etc.,???????????
In the last 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 income’ receive no aid nor do they get any 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 its time for us to collect, the government is running out of money. Why did the government borrow from it in the first place?
We have hundreds of adoptable children who are shoved aside to make room for the adoption of foreign orphans.
AMERICA: a country where we have homeless without shelter, children going to bed hungry, elderly going without ‘needed’ meds, and mentally ill without treatment -etc,etc.
They have a ‘Benefit’ for the people of Haiti on 12 TV stations, ships and planes lining up with food, water, tents clothes, bedding, doctors and medical supplies.
Imagine if the *GOVERNMENT* gave ‘US’ the same support they give to other countries.
Sad isn’t it?