SS is a TAX- I don’t know why people don’t realize this.....oh wait- yes I do. It’s because that is the lie they started with and it’s the lie they keep repeating.
It is NOT a “savings account”, it is NOT a “retirement account”...it IS a TAX on the generation behind you. If it WERE a retirement account, you would withdraw EVERYTHING you put in, plus interest, in something like 4 years. Now since people are living 20 years beyond retirement (with that number looking to grow in the next 10 years)- we can all do the math.
Let’s start calling SS what it IS- welfare for old folks. And let’s stop treating it like some sacred cow. And for crying out loud!- start MEANS TESTING!
Yes, folks, I know SS is all those things you say. But does anyone have any stats as to whether the “tax” they pay in over a lifetime is bigger than what they receive after retirement. That is my only question today.
More class warfare. You want to means test people who have paid the maximum amount every year for 30 or 40 years and did the best they could to save for retirement? Screw that! You're no better than the thieves that are stealing that money from me today.
Few people actually understand this fact and even fewer believe it.
Also, very few understand that as a "tax" the Federal Government has no legal obligation to return anything to those who paid into Social Security.
Wow...what do we have here? Michele Obama signed up on FR?
Absolutely. If you have the means to not need SS, then you are EXEMPT from PAYING as well as collecting. But I'm sure that is not what you mean, he asked testingly.