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We haven't paid nearly as much as the benefits cost, and most of the money we put in is immediately loaned to the federal government to support current spending: that's how we've been snookered. Most of the money we have paid has already been spent.

If Social Security were a real insurance policy based on actuarial data and not politician's promises, we'd probably have to pay 25% of our income (or more) into it to make up for missing contributions from those already enrolled.

In Singapore, which has a real forced retirement savings plan, the young pay 40% of income into it.