THIS IS SOMETHING TO PONDER ... HOPE THEN & HOPELESSLY NOW ...
THE ONLY THING WRONG WITH THIS CALCULATION IS "THEY" FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!
WHERE DID THAT MONEY GO???
This was sent to me ... I'm blogging it because it does touch a nerve in me and I'm certain you also have the same tender nerve ... if so pass on the URL for this blog!
Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only $30,000 over your working life, that's close to $220,500.
If you calculate the future value of $4,500 per year (you & your employer's contribution) at a simple 5% (less than what our government pays on the money that it borrows), after 45 years of working you would have $892,919.98.
If you took out only 3% per year, you would receive $26,787.60 per year and it would last better than 30 years (until you are 95 years of age if you retire at age 65) and that is with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you would have a lifetime income of $2,976.40 per month.
The "pin heads" in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff (period)!
Entitlement my ass, I paid cash for my social security insurance!!! Just because the "pin heads" borrowed (more accurately absconded) the money, does not make my benefits some kind of charity or handout!
Congressional benefits --- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that is welfare, and they have the gall and nerve to call my social security retirement entitlements?
We the nation are "broke" and can't help our own seniors, veterans, orphans, homeless.
In past months we have provided aid to Haiti, Chile, Turkey, and Pakistan ... home of bin Laden, BILLIONS OF DOLLARS!!!
Our retired seniors living on a "fixed income" received no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of U.S. dollars and tons of food to foreign countries!
They call Social Security and Medicare an entitlement even thought most of us have been paying for it all our working lives and now when it is time for us to collect, the government is running out of money. Whey did the government borrow/abscond from it in the first place? The answer: To fund programs/earmarks to get re-elected ... the single most important objective of far too many elected officials! Imagine if the "GOVERNMENT" gave "you and me" the same consideration they gave to other countries and themselves.
The current bunch in control in DC see having us pay more taxes to "fix" the problem, which "they" created in the first place. Do many of us believe they would actually use additional funds to "fix" these problems ...? They will not ... they will find something else to spend it on AND others will inherit the mammoth increased debt while the perpetrators will be enjoying their obscene retirement benefits.
SAD STATE OF AFFAIRS FOR OUR REPUBLIC ...
