Paying in 200 bucks a month for 45 years is 112.5K
and thats with no compounding
I want my 112.5K
23 posted on
05/20/2007 4:11:28 PM PDT by
mylife
(The Roar Of The Masses Could Be Farts)
And thats just SS and medicare. Take away pensions and your talking 300k in entitlements without compounding. thats 15 yrs worth of retirement for me.
I dont want to vote for throwing that away
24 posted on
05/20/2007 4:18:28 PM PDT by
mylife
(The Roar Of The Masses Could Be Farts)
To: mylife
I do sympathize. The problem is that your $112.5k is gone, spent. You money will be "gotten back" for you by taking it out of my paycheck and the paychecks of my generation.
By the time my generation is ready to collect, both programs will be insolvent, and we won't be getting a dime "back".
So someone is going to get screwed, because Social Security was a fraud from day one. If Social Security was a private pension plan, its authors would have ended up in prison.
Hopefully we can find a way to spread the pain so no one is hurt too badly. Otherwise, it's my generation against yours, and that won't be good for anyone, because I will vote to toss your money away to save mine. That's just the way it is.
32 posted on
05/20/2007 4:49:36 PM PDT by
The Pack Knight
(Duty, Honor, Country. Thompson/Franks '08)
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