I didn’t do the math on this ... but sounds reasonable!
Some Truths About Social Security
Remember, you and your employer contributed to your Social Security. 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.
Do you now see how 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 $$$$$$'s and Tons of Food to Foreign Countries!
They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when it’s time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.
Sad isn't it?
99% of people won't have the guts to forward this.
I'm one of the 1% -- I Just Did.
If you calculate the future value of $4,500 per year (yours & your employer's contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working you'd have $892,919.98.
If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
Do you now see how the folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madhoff ever had.
Entitlement my ass, I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!!
Congressional benefits ---- free healthcare, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my social security retirement entitlements?
We're "broke" and can't help our own Seniors, Veterans, Orphans, Homeless
In the last months we have provided aid to Haiti, Chile, and Turkey. And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'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.
2 comments:
......part1/2. ..
.....(....) Imagine if the *GOVERNMENT* gave ‘US’ the same support they give to other countries. We are not saying we do not care about others but do not call our investment returns an entitlement and take it from US and give it to whom ever you please or to buy favors. WE the people are very kind and generous, we can decide what charity we will donate to, and We can spend our money as we see fit. OK, SO WHEN DO WE GET PISSED AND DO SOMETHING ABOUT IT?
Let’s reform the Congressional entitlements that they vote for themselves on both sides of the aisle. Throw the bums out – all of them- USACLEANSWEEP. Feel free to confirm the SS numbers, neither side cares about us, this is their career - think it over then forward this.
BettyJean Downingm, ARP National Vice Chair, ARP New Jersey Chair
Join the American Reform Party
The New Conservative Independent Party of Common Sense
http://www.americanreform.org/index.php/blog/comments/entitlement_my_ass_get_you_damned_hands_out_of_my_pockets/
http://denverdirect.blogspot.com/2011/08/whats-wrong-with-us.html
http://www.survival-training.info/articles30/WhatsWrongHere.htm
http://stevereports.com/2011/07/an-entitlement-what-the-hell-is-wrong-here/
http://webpages.charter.net/nvrpc/SS_and_Why.html
http://theerant.yuku.com/topic/43993#.TnIxnjDF_ro
https://forums.embarcadero.com/thread.jspa?messageID=370876
http://community.statesboroherald.com/blogs/detail/10175/
http://www.humortimes.com/1649/jamesisrael/we-paid-for-our-social-security/
http://www.impeachobamacampaign.com/cartoon-of-the-day-obamas-plan-to-grow-the-economy/
http://mkueber001.wordpress.com/2011/07/27/aphorism-of-the-week-5-lies-damned-lies-and-statistics/
http://picayuneitem.com/letters/x1443107531/Local-reader-is-part-of-that-one-percentile
http://www.politicalfray.com/showthread.php?t=2259
http://greybeard.igogg.com/2011/08/30/entitlement/
http://origin-www.congress.org/soapbox/alert/52631526
http://newsbleat.com/2011/07/13/terrorizing-the-retirees/
https://plus.google.com/102575115460616115465/posts/CDnNE4adUwk
22 July 2011, 02:44 PM overyonder Location: Charlotte, NC
The original post is the ponzi scheme...
Employee contribution: 4.2% up to a cap of $4,485.60.
Employer contribution: 6.2% up to a cap of $6,621.60.
So... NOT a total of "15%". And that also implies that you're making the max for social security ($106,000), which not a lot of people make. 49 years of working? That means you'd get benefits on the first year (67 years of age) and have worked since age 18. Not impossible but also not all that common. O_Y
http://message.snopes.com/showthread.php?t=74822 ..
..............part2.................
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An “Entitlement???” An “Entitlement???” What the “H#@ll” is wrong here?
Calling Social Security an “Entitlement” program, is like calling access to one’s own bank account an “Entitlement”!
It is nonsense and so is any plan which ties the Federal Deficit to Social Security.
The federal government now includes Social Security in its debt portfolio, not because the program is insolvent or ever was, and not because the Federal government has to fund it in any sense (Social Security is funded by YOUR investments) but because the Federal government has STOLEN so much money from the fund, then sold special treasury securities on those STOLEN funds to countries like China to finance the massive debt accruing across the board.
Since there is no chance the national debt can ever be repaid, the Fed is now in the position of finagling the discharge of internal debt from the books. Look at it as a form of back door bankruptcy.
In 1964 President Linden Johnson put Social Security into the General Fund and took it out of the LOCK BOX! Since 1964, the Social Secuity fund has been plundered and the surplus from the fund used to finance wars and the daily operations of the federal government. The STOLEN Social Security funds are now approaching $3 Trillion. That is $3 trillion dollars of FICA taxes STOLEN from generations of American workers for a specific purpose that the federal government STOLE and then sold special treasury notes on.
This is a debt owed by the federal government (USA Corp) to all American workers who had FICA taxes deducted from their paychecks, but which the U.S. Government never had any intention of paying back!
This is why Social Security is referred to as an unfunded liability. It is a massive cash liability for a debt owed to generations of working Americans.
As the amount STOLEN from the investments of workers grows, so does the unfunded liability incurred.
But there are a few people in Washington who "get it" and they have not been afraid to speak out. .... THE DEMONIC and SATANIC ANTI-CHRIST NEW WORLD ORDER, anti-American Skull and Bones, George Bush, Jr. had to cover up the loss of revenues from the welfare tax cuts to the upper 3% of Americans - all of the BILLIONAIRES and the MEGA MULTI-MILLIONAIRES!
It was imperative that his DEMONIC and SATANIC ANTI-CHRIST NEW WORLD ORDER, anti-American Skull and Bones Administration be able to cover up the loss by showing a presumed increase in revenues that was supposed to have resulted from this preferential treatment of the super wealthy.
Surplus funds were stripped from Social Security, along with any unused funding from any other program, then added to the general revenue column as though these increases were generated as an actual result of the welfare tax cuts!
These STOLEN funds with their new designation as revenue were then used as proof that these welfare tax cuts were beneficial. ....
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