“This is no longer a discussion about what is coming down the road; it is here NOW.”
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That is the very reason I started my own business back in 1979. The money I made through those years has either been reinvested into the business or stashed aside for the future. I could not envision that when I reached 65 years of age that we would have (both in government and private) a viable and stable retirement system in place that would provide from that age on and into the future.
I am now starting to see the worst fears of those who have been duped by both the government and financial industry into paying all of their working lives into a system that has the actual potential of DEFAULT!
Through all of those years I’ve been forced to pay the government 100% of their demand for Social Security at an average 14% of net income while the “so called” poor pay nothing.
Now, we are faced with the very real possibility of total collapse of the financial industry along with total defaults of government promises in the myth of Social Security retirement.
It’s a very dangerous financial world out there today because real tangible wealth is rare but wealth on paper is rampant. I believe we will soon see that the whole retirement scam is a house built on shifting sand in the foreseeable future.
Here in NJ the retirement scam has already been exposed; people can’t afford to retire. Normally they would sell their home and move into something with much lower costs, but now they own homes nobody wants with high taxes (in part to pay for the government worker caste’s retirements). On top of that, the government’s manipulation of inflation figures prevents real cost-of-living adjustments while anyone who buys groceries watches prices climb. The retirement age has been pushed up, while the healthcare that would enable someone to reach retirement is being undercut. The borders are left open in the hopes that Third Worlders will voluntarily pay into the pyramid at the lowest tier, and instead they simply become untaxed wards of the state, devouring “services” while contributing nothing.
These are not prophecies of doom coming down the road; they are here; for example, the financial collapse already happened in 2007/2008; we are dealing with the consequences of the “rescue”.
Nice to see the 14% number. Must people think it’s 7% because the other 7% is hidden. Some people are dumb enough to believe their “employer pays it” and think it is free money. I get into that argument a lot.