Dear Readers:
This was such a good article that I wanted to republish it. Note the highlighted areas.
I
know you should never assume things are correct, but I am passing this on as
received. Common sense says that most of it is correct. It is amazing how
the government can twist things to go in their favor and most people accept it
at face value.
The only thing wrong with the Government’s
calculation of available Social Security is they forgot to figure in the people
who died before they ever collected a Social Security check!!! Where did that money go!
Remember,
not only did you and I contribute to Social Security, but our employers did,
too. It totaled 15% of your income
before taxes. If you averaged only $30K a year over your working life,
that's close to $220,500 put into the fund. Read
that again. Did you see where
the Government paid in one single penny?
We are talking about the money you and your employer put in a Government
bank to insure you and I would have a retirement check from the money we put
in, not the Government.
Now
they are calling the money we put in an entitlement when we reach the age to
take it back. If you calculate the
future invested value of $4,500 per year (yours and your employer's
contribution) at a simple 5% interest (less than what the government 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.
Another
thing with me... I have two deceased husbands who died in their 50's (one was
51 and the other one was 59 before one percent of their social security could
be drawn.) I worked all my life and am
drawing 100% on my own social security. Their
S.S. money will never have one cent drawn from what they paid into S.S. all
their lives.
THE FOLKS IN WASHINGTON HAVE PULLED OFF A BIGGER
PONZI SCHEME THAN BERNIE MADOFF EVER DID.
Entitlement
my foot, I paid cash for my social security insurance! Just because they borrowed the money for other
government spending, doesn't make my benefits some kind of charity or
handout!!
Remember
Congressional benefits? --- Free healthcare, outrageous retirement packages
(after only one term in office), 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 payments
entitlements?
We're
"broke" and we can't help our own Seniors, Veterans, Orphans, or
Homeless. Yet in the last few months we
have provided aid to Haiti, Chile, and Turkey, and now Pakistan...home of bin
Laden. Literally, BILLIONS of DOLLARS!!!
And they can't help our own citizens in New York and New Jersey!
They sure rushed to help Katrina victims in 10 days!!!!!
Our
retired seniors living on a “fixed S.S. income'” receive no additional federal
aid nor do they get any financial breaks, while our government and religious
organizations pour hundreds of billions of $$$ 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? It was supposed to be in a locked box, not
part of the general fund. Sad isn't it?
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