The average SS check is about $975 per month or $11,700 per year.
There are about 50 million recipients.
That totals about $585 billion annual payout.
[Note that many of the beneficiaries/recipients have paid in to the system for decades.]
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Wall Street bail out $700 billion (2008). Add $150 billion in Congressional pork. Add AIG bailout. Add auto industry bailout. Credit card companies. Student loans. Yada yada yada.
Estimates are that these bailouts will be nearing $1.2 trillion (or more) by early next year.
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I continue to be surprised by how many “conservatives” cry rivers over things like Social Security and minimum wage increases which tend to benefit people, but they have no problem in the government subsidizing businesses by $billion, even $trillions.
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And contrary to rumors, SS/Medicare is still solvent for several decades.
And contrary to rumors, SS/Medicare is still solvent for several decades.
“That totals about $585 billion annual payout.”
With 15 million workers that averages out to $3,799 per working person each year in Social Security taxes.