Hillary shrieks that she will FIGHT the Republicans on privatizing Social Security.... is this what you TRULY WANT????
~~~~~~~~~~~~~~~~~~~~
I’m gonna keep pounding on this…. Social Security is NOT a sacred cow! It was NEVER intended to be a person’s SOLE RETIREMENT INCOME. It was meant to be a SUPPLEMENT. It has to be eliminated! It’s the government’s way of equalizing everyone…. at the bottom of the income level! Consider this – and remember it and pass it along!
- A person making $40,000 a year pays $3000/year (7.5%) into Social Security
- A worker who AVERAGES $40,000/year for a 40-year working career, contributing 7.5% into S.S. will collect a maximum of $24,000/year for 15 years
- The Stock Market has an historic AVERAGE growth of 9%/year
- If that same employee invested that same 7.5% in the stock market for 40 years, he would accrue $1,880,000 in his ‘retirement’ account…. Or said another way $126,000/year annual retirement income
- ‘Means testing’ Social Security – a suggestion from Obama’s Debt Reduction Committee, means the government will determine who is ‘too rich’ to draw S.S. EVEN THO YOU MAY HAVE CONTRIBUTED TO THE SYSTEM YOUR ENTIRE WORKING LIFE AND EVEN IF YOU PLANNED ON THAT MONEY AS A RETIREMENT SUPPLEMENT! I sincerely hope the American people will find this unacceptable. If you paid in – you should draw out – PERIOD!
- If there are those, with great wealth, that choose to opt out of receiving S.S., they should be given a tax credit for all or part of the money they have contributed. This might encourage more of the truly rich to forgo S.S.
- • And there has to be a mechanism to permit young people entering the work force to fund a MANDATORY PRIVATE RETIREMENT THAT THEY – NOT UNCLE SAM - CONTROL. This would allow the current S.S. system to eventually go ‘out of business’ by attrition.
- And do NOT say: What if they refuse to fund a retirement plan? WE HAVE THAT NOW! It’s called ‘people riding in the wagon rather than PULLING it!’ And they not only aren’t funding a retirement, they aren’t even WORKING! The difference would be – you don’t save – you don’t EAT. It is obscene that able-bodied Americans are not MADE to work for their handout! If they are receiving government money, they can dig holes and fill ‘em up to ‘earn’ their subsidy.
If you want to read something really funny, check out this link:
http://usa.usembassy.de/etexts/soc/ssbriefhistory.pdf
It is the GOVERNMENT’S story of how S.S. began and how wonderful it is to this day.
My sister and her husband were 'means tested' last year and both their checks were cut. It is already happening.
ReplyDeletePaul
Update on 1/6/2020- It's been nearly 20 years since I originally wrote this blog, and reading what the government is doing to Americans makes me as furious as it did 20 years ago - especially when I look at where the market has gone under President Trump. The other thing that is infuriating, other than Americans not working but getting a reward for not working....is the number of illegals we have brought into our country who are LIVING OFF OF WORKING AMERICANS. Not sure if this will ever change, but it sure does make my blood pressure go up!!!
ReplyDelete