My dear mother, who raised 6 productive, law-abiding Americans, worked about 10 years after the last of us were in our teens
I estimate she paid in about $5000-$8000 into Social Security.
She died at the age of 94 just a few years ago. I estimate she must have rec’d $200,000+ from the same system.
Granted, my father also paid in, as have we - her children.
But I can’t see how such a system is sustainable
Hence the need for illegals since the white folk ain’t reproducing.
The social security your mother paid went to pay the seniors who were drawing social security entitlements in that time frame she was in of working and paying. It was not going into a personal account maintained for her future benefit when she became elegible for ss benefits and started receiving benefits.
The benefit dollars your mother and other ss beneficaries received did/does not come from the dollars they paid in while working. The benefits I am currently receiving from SS at age 89 are coming from the currently employed folks, like you, working and having the social security tax withdrawn from their earnings and sent to DC by their employer. You got that... my and other folks SS benefits I am currently receiving monthly are coming from the ss contributions that you and other wage earners are making currently.
This should be taught to high school seniors on their way to the work force along with other meaningful subjects such as what a FELONY is.
Most SS payouts are covered by SS collections, cash basis.
SS is just recently falling behind in payout vs collections.
So the Ponzi scheme is still more or less viable, on a cash basis. Cash basis is the only reasonable way to view these things, btw, not as long term liabilities. Governments arent normal economic players.
The trouble is that the cash balance will continue to deteriorate over time.
Millions of persons have paid into Soc Sec & died before they collected a thin.
NO refunds of those payments paid in.
Also- IF you are on Soc Sec—you are getting a check this month for LAST month...
If you die on the 1st—or the last day of this month-—there is NO payment next month.
feds retire very early...often they 'll double or even triple dip...
and how many guys do you read about in the obits that retired after 20 yrs at the age of 38 and rec'd military pensions until their death 50 or more yrs later?....how in any world can that be sustained....50 yrs of military pension?.....
things will change because they have to....and even with the cabal stealing money left and right, we still should never be engaging in insane pension schemes..
It isn’t.
In order to keep up the façade of solvency, like any Ponzi Scheme, they have to have a continuous influx of new YOUNG workers to pay into the system.
That’s the reason for the OPEN BORDERS, unlimited immigration from anywhere, letting in every person possible so that they can get work and start paying into the system...................