Rush Limbaugh does not like social security. He thinks there is no reason that people shouldn't get rich like him and save money for retirement. Some of us have paid a lot of money into SS and the government has an obligation to pay. Limbaugh believes its an undeserved entitlement.
Limbaugh is the reason I became a conservative, but the more I listen to him the more I realize that he's not as smart as he think he is. He a lousy debater. Michael Medved is better. Hell, he can't pick a NFL payoff winner.
Rush Limbaugh, a legend in his own mind.
Wow, I used the social security calculator link that was posted and tweaked it to how I would advise my 20 year old son. It is really an eye opener.
You can expect to pay $676,864 in Social Security taxes over your working life for retirement and survivors benefits. For those taxes, you can expect to receive $3,361 a month in Social Security retirement benefits. Your rate of return under today's Social Security is -0.69%.
However, if you had been able to invest all of your Social Security taxes in a Personal Retirement Account (PRA), you would have had a total of $3,014,171 when you retired. Your monthly benefits would have been $24,553. You lost $21,192 a month.
Polish proud, no one has said that those of us who are upwards in age shouldn't get the benefits that have been promised. The only ones who I hear talk about reduced benefits are the liberals who think its just hokey dokey that benefits should be reduced when the system starts to go broke. To them there's no problem, the government giveth and the government taketh away.
But shouldn't we make it more fair for today's kids? And shouldn't we help develop our economy by building wealth? Read about Chile's social security reform. Its phenomenal.