I was starting to think that you might have a point. Now I know that you are just another asswipe.
What you paid in is a fixed amount. It has nothing to do with what that money might have been worth.
Money today has a future value, based on an expected rate of return. It is the basis of private annuity contracts.
Money in the past has a present value as well. But, it's easy to determine what it's worth, based on historical interest rates.
If you think money in the past isn't worth more, just try to explain that to the IRS. If they audit your return and assess you for back taxes, you'll also be assessed for interest, at the published annual rates. You might be able to get the penalties waived, but you'll still pay the interest.
If you fall behind on a loan or mortgage, the bank will do the same thing.
Nice of you to lecture me on common knowledge. I understand present and future value of money.
However you’re assuming a lot of things. You’re assuing the government gives a damn about it when they have to pay out. I can assure you they don’t.
Your assumption also predicates that Social Security is some flavor of investment such as an annuity. It is not. It is a wealth transfer program. It always has been, and always will be. Watching people get on a high horse defending wealth transfer (from the present taxpayers to the past ones) by calling detractors ‘Marxists’ is the height of irony (not to say you did, but it’s pretty common so far in this thread).
But to get back to a rather important point which has been stated umpteen times, it doesn’t make any difference what you imagine the government owes you, or exactly how you might imagine your ‘contribution’ to be calculated, there is no money. There is only a claim on future taxpayers, and that claim will be appreciably worse than the claim that was on you.
I will acknowledge that you have been wronged. I’ve always thought Social Security was criminal. I’d love to see it killed right now. However we both know that won’t happen. Thus we are left with figuring out how to mitigate the mess we have.
I’m getting tired of restating why I favor means testing, and I don’t need to say again that I’m not in favor because of class warfare. It doesn’t matter if I do since someone will label me a Marxist anyway.