Here we go again. Like it or not, this impacts us all.
Your SOCIAL SECURITY check, has now become your FEDERAL BENEFIT CHECK . . . obviously our guvmunt “leaders” want us more grateful, thinking they’ve given us something . . . something we’ve earned!
This touches a nerve in me, and I hope it does in you.
Please keep passing it on; everyone in our country needs to read it. We need to keep a watchful eye on these Slimers of our tax monies … money which was to be saved, yet they looted . . .
This isn’t a benefit; it’s earned income! Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes. If your salary averaged $30K per year over your working life, that’s close to $180,000 Invested in Social Security. If you calculate the future value of your monthly investment in social security ($375/month, including both your and your employers contributions) at a meager 1% Interest rate compounded monthly, after 40 years of working you’d have more than $1.3 million dollars saved — your personal investment
Upon retirement, if you took out only 3% per year, you’d receive $39,318 per year, or $3,277 per month.
That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration. Don’t trust these figures? Google it!
And your retirement fund would last more than 33 years (until you’re 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the slimy thieves in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did.
They looted our money . . . our “savings” and used it elsewhere – – – mostly in ways to make them look good and get them re-elected so they could continue finding other ways to grow wealthy. They knew it was OUR money. They didn’t have a referendum to ask us if we wanted to lend the money to them. And they didn’t pay interest on what they stole. And now, they’re telling us that the money won’t support us for very much longer.
But is it our fault . . . And now, to add insult to injury, they’re calling it a benefit, as if we never worked to earn every penny of it.
They looked @ our investments as it were a charity to them! That’s called THEFT! We have earned our right to Social Security and Medicare. 92% of our population who need it.
Call it what it is: Our Earned Retirement Income. My suggestion? Throw ’em all out!