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- #181
You mean you be living off YOUR money, money that YOU set aside via your social security?
Not so.
"According to the institutes data, a two-earner couple receiving an average wage $44,600 per spouse in 2012 dollars and turning 65 in 2010 would have paid $722,000 into Social Security and Medicare and can be expected to take out $966,000 in benefits. So, this couple will be paid about one-third more in benefits than they paid in taxes.
If a similar couple had retired in 1980, they would have gotten back almost three times what they put in. And if they had retired in 1960, they would have gotten back more than eight times what they paid in. The bigger discrepancies common decades ago can be traced in part to the fact that some of these individuals working lives came before Social Security taxes were collected beginning in 1937.
Some types of families did much better than average. A couple with only one spouse working (and receiving the same average wage) would have paid in $361,000 if they turned 65 in 2010, but can expect to get back $854,000 more than double what they paid in. In 1980, this same 65-year-old couple would have received five times more than what they paid in, while in 1960, such a couple would have ended up with 14 times what they put in.
Such findings suggest that, even allowing for inflation and investment gains, many seniors will receive much more in benefits than what they paid in.
According to this calculation, past and current generations will pay $71.3 trillion in payroll taxes but will receive $93.4 trillion in benefits. Adjusting for past and future transfers from the federal Treasury, the difference between "paid-in" and "paid-out" works out to $21.6 trillion.
the exhortation that todays generations are just getting what they are due based on their forced past tax payments is incorrect. We are to get much more under current Social Security laws to the tune of $21.6 trillion than well pay into the system. The excess benefits are a return on past and current generations taxes of $71.3 trillion and quite a handsome return it is!"
PolitiFact | Medicare and Social Security: What you paid compared with what you get
It is the rich, the ones cursed up and down by the Liberal folk, who will not get back as much.
You really should stop believing government propaganda.
I have a suggestion: ask me when you need the truth.
SSI is/was a non-optional investment. Or a government run protection racket depending on how you want to look at it. Is there something wrong with a small profit on a longterm investment that might not even counter the effects of inflation much less equal actual voluntary investments? What about all the people who don't live long enough to withdraw a dime of what they put in?
"...the exhortation that todays generations are just getting what they are due based on their forced past tax payments is incorrect
Wrong.
Pleeeeezzze.....focus like a laser.
The post to which I responded said " YOUR money, money that YOU set aside"
Did I or did I not prove that this is not the case?
If you have some other issue to discuss re: Social Security, please state it as such.