tag:blogger.com,1999:blog-2471513656433144696.post4608681458555461825..comments2023-12-11T06:36:33.525-05:00Comments on NESARA- REPUBLIC NOW - GALACTIC NEWS: Who died before they collected Social Security?Unknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2471513656433144696.post-55722209196407022322013-03-08T19:01:39.463-05:002013-03-08T19:01:39.463-05:00Here is a critique of the logic, assumptions and m...Here is a critique of the logic, assumptions and math behind this letter. It is very flawed reasoning.<br /><br />First of all, insurance math whizzes have 100 years of figuring actuarial tables that can tell you averages for all factors...life expectancy, surviving dependents, death rates for different ages, etc.. It is very easy to figure precisely on average how many people die at what age and never collect a cent (although their dependents will, and they know on average how many dependents they have). So, that money is going out to people who live an extra long time or made very little money or who left lots of destitute dependents. <br /> <br />Now, second of all...he greatly overestimates the annual earnings by some clever math. Starting with that $30,000 average annual salary. I know you always identify with those rich fuckers who are hit so hard by taxes (and maybe you are even one of them ) But, for me, my first job out of graduate school in the late 1970s paid $5000/year. I didn’t make over $14,000 until I was thirty five and never made $60,000 in my entire career The money I was putting in for many early years was 15% of a pittance! <br /> <br />At $30,000/year average salary, the amount of principal he estimates in the early years is greatly increased because he AVERAGED the income. After ten years, he puts $4,500 x 10 =$45,000 in his fund. In reality, I would have put in about $9,000 ($750-$1000 x 10). And that is the amount that will collect 40 years of interest. The years of maximum income had the fewest years to collect interest. <br /> <br />So, I think his figure is greatly inflated. I suspect his estimate of total $$ over 49 years would be 4-5 times more than you would actually accrue. (I don't have the math skills to figure more than the logic of compound interest and take a rough guess.)<br /> <br />And thirdly, Social Security is not a retirement investment fund, it is an insurance fund that covers all for lots of things like disability, dependent support, and retirement. If you died at age 26 with a wife and 3 kids, they would get SS payments far beyond your investment, something a small stock fund would never do. <br /> <br />If you ask me, the way to fix Social Security is to raise the maximum contribution cap. Currently, that is about $113,000. That means that if you make more than $113,000, you don't pay any SS tax on it. Shouldn't people in the highest income levels pay the same Soc Sec contribution rate as the little guys? <br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2471513656433144696.post-32641184229353032462013-03-04T15:26:35.166-05:002013-03-04T15:26:35.166-05:00you really need to "google" "congre...you really need to "google" "congressional retirement plans".<br />it might help you to come up with a better argument when you have some facts.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2471513656433144696.post-19458075605505606042013-02-27T02:37:33.406-05:002013-02-27T02:37:33.406-05:00The nation is being destroyed, it is divided and r...The nation is being destroyed, it is divided and ruled by parasites, criminals and terrorists. Act now before it is too late.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2471513656433144696.post-5713506657740871682013-02-26T22:15:58.355-05:002013-02-26T22:15:58.355-05:00They are all criminals ! They live like Kings and ...They are all criminals ! They live like Kings and Queens on us and have the best health care and insurance money can buy (At no cost to them )! When they retire what is their pay ? The same pay that they got while in office ! They give themselves pay raises ! They don't have to answer to ANYONE ! They are all crooks !Anonymousnoreply@blogger.com