Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: calex59

The problem is that the money you paid in is probably only a mere fraction of what you have taken out. Social Security is nothing more than a wealth transfer system and onerous tax on those of us working idiots who pay into this sham.


11 posted on 03/04/2005 4:34:32 AM PST by chris1 ("Make the other guy die for his country" - George S. Patton Jr.)
[ Post Reply | Private Reply | To 9 | View Replies ]


To: chris1

Why would a person pay income taxes on the half that he or she put in. We did not get to deduct it from our income tax, the part the employer paid should be taxed.

Am I wrong?


22 posted on 03/04/2005 5:55:47 PM PST by frannie (don't worry about tomorrow -- God is already there)
[ Post Reply | Private Reply | To 11 | View Replies ]

To: chris1

If you're sick of paying into it, there are a few American government employers that will let you out. You have to work for the man, but it's worth it to know that your retirement money is yours, not the Democrats.

For instance, in a three-county area on the Texas coast, government employees' retirement benefits that do NOT come from SS, and they don't pay into it.

Knowing you'll get that money back instead of finding the government changed its mind and decided to pay off the guy who got to the cookie jar first, that's worth a lot.

You can also work outside the U.S. for a few years. All your extraterritorial income up to about 70K is tax free, and some countries have compacts with the U.S., compacts that will allow you to get any money you pay into their retirement systems as part of THEIR income or social security taxes back in CASH.


23 posted on 03/04/2005 10:48:30 PM PST by LibertarianInExile (The South will rise again? Hell, we ever get states' rights firmly back in place, the CSA has risen!)
[ Post Reply | Private Reply | To 11 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson