“More free stuff for EVERYBODY.”
Not necessarily true. I paid close to $50,000 in Medicare expenses (widowed so late wife paid additional $30,000) over the last 50 years. Add $180,000 in Social Security that should have been collecting interest.
Imagine how much my Social Security would be worth now if it could have collected 5-6% interest all these years.
But the point is... I doubt I will live long enough to collect a fraction of the money I put in even without it collecting interest. My late wife got zero benefit from these taxes.
Probably about a half a million. 7% interest will double the principal every ten years. 10% interest doubles every seven years.
I know what percentage of my paycheck went to 401k and what percentage went to SS. My IRA today would be triple it's size and the government wouldn't be accusing me of coming hat in hand each month for handouts.