Social Security is a fradulent ponzi scheme that has robbed me of $369,568.39 in cash that could have provided a better life for my family since 1972 up until 2009. Since then I have been forced to make other generous “contributions” to the “fund” since I am both employer and employee. Invested on my own at a mere 6% simple interest compounded annually, my “contributions” could have provided a present value of $838,009.43. There is nothing in my account but a worthless IOU at this time.
I have at least paid in part for my parent’s benefits but also a whole lot of people I don’t know or even care about. Many of whom I would not walk across the street Pee on if they were on fire.
Is Vanity really serious to ask about SS?
A couple of weeks ago, I crunched the numbers of someone making $10/hr working 40 hrs per week. If that person was able to invest 12% of his income into an investment fund earning 6% until he/she retired, that person could draw a monthly check of $2300/month from age 65 through age 95. I don’t know a single retiree who draws that much from Social Security. And if the person dies, his family gets an actual inheritance so that future generations will not be born into poverty. There is no such inheritance with Social Security. The cycle of poverty is continued generation after generation.