A sad milestone: will anyone notice ?

[dogtowner]

It used to just me blacks, not its everyone

Privatizing starting to sound good yet ?

WASHINGTON (AP) - People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It's a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.


Previous generations got a much better bargain, mainly because payroll taxes were very low when Social Security was enacted in the 1930s and remained so for decades.


"For the early generations, it was an incredibly good deal," said Andrew Biggs, a former deputy Social Security commissioner who is now a scholar at the American Enterprise Institute. "The government gave you free money and getting free money is popular."


If you retired in 1960, you could expect to get back seven times more in benefits than you paid in Social Security taxes, and more if you were a low-income worker, as long you made it to age 78 for men and 81 for women.

 

[dogtowner]

Read um and weep

dontcha just love vote buying ?


If you turned 65 in 1960:
Lifetime Social Security benefits: $259,000.
Lifetime Social Security taxes: $36,000.
---
If you turned 65 in 1980:
Lifetime benefits: $452,000.
Lifetime taxes: $192,000.
---
If you turned 65 in 2010:
Lifetime benefits: $555,000.
Lifetime taxes: $588,000.
---
If you turn 65 in 2030:
Lifetime benefits: $699,000.
Lifetime taxes: $796,000.
---

 

[steveox]

This is why Blacks dont want a job instead they want welfare and food stamps from the government

 

[Cruella]

So SS could eventually turn itself around? (nevermind, the government would only spend it on something else anyway). People need to start investing their ss monies into private accounts, and that way they could even add more, if they wanted to and retire at any age they wanted. Government sucks.

 

[Gipper]

If you retired in 1960, you could expect to get back seven times more in benefits than you paid in Social Security taxes, and more if you were a low-income worker, as long you made it to age 78 for men and 81 for women.

Further proof that social security IS a welfare program. Just as medicare IS a welfare program.

It has been stated that the war on poverty has cost about $15 TRILLION since the butcher of Vietnam got it all started in the 1960s (and yet, we have more poverty today then we did then...funny how that happens). But, that HUGE number does NOT include social security and medicare, which some Americans like to think they PAID for. What a joke.

This is just another example of the heinous consequences of Liberalism. Once they pass into law a big new government program, it evolves over time into a huge and costly WELFARE program designed to enslave Americans to government handouts...Obamacare will be no different.

In the history of mankind, nothing has been more costly than the welfare programs instituted by stinking American progressive politicians.

 

[Johnny Tremain]

Perhaps--one day--people will find a way to have a savings account taken out in their name, untouchable until needed--and shitcan the SSA Ponzi Scheme. Even the mention of it sends leftists screaming--hair on fire.
Even FDR knew this was an eventual loser. The original "kick-the-can-down-the-road" guy.
It should NOT be in the stock market--a new security must be fashioned.

The Bill--has come due!

 

[Johnny Tremain]

Read um and weep

dontcha just love vote buying ?


If you turned 65 in 1960:
Lifetime Social Security benefits: $259,000.
Lifetime Social Security taxes: $36,000.
---
If you turned 65 in 1980:
Lifetime benefits: $452,000.
Lifetime taxes: $192,000.
---
If you turned 65 in 2010:
Lifetime benefits: $555,000.
Lifetime taxes: $588,000.
---
If you turn 65 in 2030:
Lifetime benefits: $699,000.
Lifetime taxes: $796,000.
---

Classic Ponzi Scheme.