Over at his website, Ben Wright does some simple social security math. What did he discover?
"This must be the time of year when the Social Security Administration sends out its annual statement of estimated benefits; mine came in the mail yesterday. Usually I read it and am disgusted at how little I'll be receiving when I'm 67. Yesterday I did the math, and I was absolutely flabbergasted. You really need to do your own math for yourself. Here's why:
Based on the information in the statement, it will take me more than 11.5 years to receive Social Security payments that equal merely what has been paid into the system on my behalf! Let me say that again in a different way. If you add up all the money that I and my employers will have paid for my Social Security taxes over the course of more than 50 years of work, I will have to live until I'm 78 just to get back the principal! And when I die, nothing is left for my beneficiaries."
Posted by Chris Schrimpf
Comments
Considering how much Socialist Insecurity sucks, why the hell would you then want to "save" it?
It just goes to show how much S4 sucks and gives change.
SS Equity Funds Equal More Big Government and Corruption! S4 sucks and gives change!
