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  1. #1
    Join Date
    Sep 2005
    Location
    Atlanta GA area
    Posts
    21,159

    Where does your Social Security $$$ go?

    This came across my Email box... worth some thought:

    > Subject: Fwd: Fw: Who gets your Social Security?
    >
    > Passing this on for your info.
    >
    >
    > Who gets your Social Security if you are dead?
    >
    > KEEP PASSING THIS AROUND UNTIL EVERY SENIOR HAS READ IT.....
    >
    > 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 am forwarding it
    > because it does touch a nerve in me.


    > 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 $30K over your working life, that's close to $220,500.
    >
    > If you calculate the future value of $4,500 per year (yours & your
    > employer's contribution) at a simple 5% (less than what the govt. pays
    > on the money that it borrows), after 49 years of working you'd have
    > $892,919.98.
    >
    > If you took out only 3% per year, you'd receive $26,787.60 per year and
    > it would last better than 30 years (until you're 95 if you retire at
    > age 65) and that's with no interest paid on that final amount on
    > deposit! If you bought an annuity and it paid 4% per year, you'd have a
    > lifetime income of $2,976.40 per month.
    >
    > The folks in Washington have pulled off a bigger Ponzi scheme than
    > Bernie Madhoff ever had.
    >
    > Entitlement my ass, I paid cash for my social security insurance!!!!
    > Just because they borrowed the money, doesn't 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's welfare, and they have the nerve to call my
    > social security retirement entitlements?
    >
    > We're "broke" and can't help our own Seniors, Veterans, Orphans,
    > Homeless
    >
    > In the last months we have provided aid to Haiti , Chile , and Turkey .
    > And now Pakistan ...... home of bin Laden. Literally, BILLIONS of
    > DOLLARS!!!
    >
    > Our retired seniors living on a 'fixed income' receive no aid nor do
    > they get any breaks while our government and religious organizations
    > pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign
    > Countries!
    >
    > They call Social Security and Medicare an entitlement even though most
    > of us have been paying for it all our working lives and now when it's
    > time for us to collect, the government is running out of money. Why did
    > the government borrow from it in the first place? Imagine if the
    > *GOVERNMENT* gave 'US' the same support they give to other countries.
    >
    > Sad isn't it?
    >
    > 99% of people won't have the guts to forward this.
    >
    > I'm one of the 1% -- I Just Did.

    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  2. #2
    Join Date
    Mar 2004
    Location
    SE Michigan
    Posts
    17,948
    Makes ya wanna just FREAK OUT!
    Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people.

    Theodore Roosevelt

  3. #3
    Join Date
    Feb 2004
    Location
    New Mexico
    Posts
    5,530
    Why did
    > the government borrow from it in the first place? Imagine if the
    > *GOVERNMENT* gave 'US' the same support they give to other countries

    Regan, the conservatives sweetheart, borrowed SS money to balance his budget. Of course "Borrowed" implies paying back. Say what???
    When talking of misinformation or really disinformation SS has got the front seat. You'll have politicians say the system's broke and others say there's over a trillion $$ surplus. I believe a lot of very rich people would like SS $$ to go to the stock market instead where they could get their hands on it.

    The people that want to end SS began by taking the money and leaving a piece of paper called IOU. Calling SS a socialist system. Then calling SS an entitlement. Then saying SS is broke. Then they have a better plan.
    This is a monster con job and there is almost nothing being done to educate Americans to the truth. I know one truth. Someone wants MY money.
    It's a really crappy time to see pentions near failure, Job insecurity, investments down the drain and some politicans wanting to dump SS. What's your future like?
    It seems it's always the people that have it made that want to hobble the rest.
    Tracers work both ways.

  4. #4
    Join Date
    Dec 2000
    Location
    I'm an old cowhand from the Rio Grande
    Posts
    17,089
    Yeah, some folks break the gov. and then claim its broken.

    Sad, but these folks exsist.
    Gods are fragile things; they may be killed by a whiff of science or a dose of common sense.

    Chapman Cohen

  5. #5
    Join Date
    Jun 2001
    Posts
    3,910
    Where does your Social Security $$$ go?

    I know, I know.

    Governments don't tax to get the money they need, governments will always find a need for the money they get. Ronald Wilson Reagon

    Born Again KA

  6. #6
    Join Date
    Jun 2006
    Location
    SW MO.
    Posts
    5,212
    Huh. Reagan misspelled twice in this thread.
    Discipline your child so that other parents don't have to.

    We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.

  7. #7
    Join Date
    Sep 2002
    Posts
    2,735
    It's still better than keeping it in the bank,you need like 15 million to get 50k a year interest!

  8. #8
    Join Date
    Jun 2006
    Location
    SW MO.
    Posts
    5,212
    Social Security needs to changed so people that don't want to invest in it can put that money in IRA's that can earn 12%. It's my money, I should be able to invest where I want to.
    Discipline your child so that other parents don't have to.

    We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.

  9. #9
    Join Date
    Sep 2002
    Posts
    2,735
    Quote Originally Posted by chaard View Post
    Social Security needs to changed so people that don't want to invest in it can put that money in IRA's that can earn 12%. It's my money, I should be able to invest where I want to.
    Yea right,most people can't save a dime much less make anything near 12% on their savings.We can pay welfare instead of SS!

  10. #10
    Join Date
    Feb 2004
    Location
    New Mexico
    Posts
    5,530
    Quote Originally Posted by chaard View Post
    Huh. Reagan misspelled twice in this thread.


    Ya, spell check doesn't go back as far as him.
    But wait, I know who you really are now. Miss Rachett, my English teacher.
    Tracers work both ways.

  11. #11
    Join Date
    Jun 2006
    Location
    SW MO.
    Posts
    5,212
    Quote Originally Posted by coolperfect View Post
    Yea right,most people can't save a dime much less make anything near 12% on their savings.We can pay welfare instead of SS!
    Since our nanny state govt requires us to save some money we earn for retirement, does not necessarily mean it has to go to SS. It could go into a self directed IRA. Rules or laws stay in place to force us to save, but discretion is left to us where that money is invested. This was tried during the Clinton era, but the older Americans balked cause they believed they would lose their SS and the program would go away forever. They also believed they would lose their money in the Markets. But the Markets make a better % on avg than all govt programs combined.
    Discipline your child so that other parents don't have to.

    We're awl pawthetic and kweepy and can't get giwrls. That's why we fight wobots.

  12. #12
    Join Date
    Sep 2002
    Posts
    2,735
    Quote Originally Posted by chaard View Post
    Since our nanny state govt requires us to save some money we earn for retirement, does not necessarily mean it has to go to SS. It could go into a self directed IRA. Rules or laws stay in place to force us to save, but discretion is left to us where that money is invested. This was tried during the Clinton era, but the older Americans balked cause they believed they would lose their SS and the program would go away forever. They also believed they would lose their money in the Markets. But the Markets make a better % on avg than all govt programs combined.
    And we have it,I have an IRA.The old people were right the average person does not know how to play the market.And any one who can get me 12% year over year can have all my money and keep 4% a year!

  13. #13
    Join Date
    Sep 2005
    Location
    Atlanta GA area
    Posts
    21,159
    Folks will think I am cruel and heartless... however:

    If there was NO govt safety net for retirement (no SS, no requirement to save at all)... And folks were told clearly from the beginning they were on their own... might develop an attitude of thriftyness.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

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