Part Two
By TomL
Information from the Internet & Myself
See part one September issue
Government at work with our money!! A person dies at age 65 before collecting one benefit check. The person and employer paid into the system for almost 50 years and collected NOTHING! Keep in mind all the working people that die every year who were paying into the system and got nothing. These governmental morons mismanaged the money and borrowed or stole from the system so that it’s now going broke. Now they have the audacity to call today’s seniors “vultures” in an attempt to cover their ineptitude. The Government has borrowed 3 trillion from the Social Security Trust fund, our money in holding for trust that we and our employers paid in.
The Government wants to rename the Social Security Benefits to “Federal Benefit Payment.” The reason for renaming our Social Security payments is so the government can claim that all those social security recipients are receiving entitlements thus putting them in the same category as welfare, and food stamp recipients. Changing the name of Social Security contributions, will give the means to refute this program in the future. It’s free money for the government to spend under Federal Benefit Payment….Not Social Security Benefits which was designed for seniors retirement benefits! The Social Security check will soon will be referred to as a Federal Benefit Payment? This touches a nerve in me. I have been paying into this for my retirement benefits, not a welfare fund…Not to pay illegal immigrants that came in to this country by breaking the law or people who just don’t want to work!
This is NOT a benefit. It is OUR money, paid out of our earned income! We all contribute to Social Security, and our employers did too! It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that’s close to $180,000 invested in Social Security. Calculate the future value of your monthly investment in social security ($375/month, including both you 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. This is our 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 three times more than today’s average Social Security benefit! according to the Social Security Administration. (Google it). 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 not used our funds for things they think are more important. Instead, the Government pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They did not have a referendum to ask us if we wanted to lend the money to them and recently they have told us that the money won’t support us for very much longer. (Isn’t it interesting they NEVER say this about welfare payments?) We will start a new fund and call it Our Earned Retirement Income. What Say You? I think we need Trump in office! All these problems would be better for the American people in one year. We would see comforts in our lives again! tloury@att.net
Put on your seat belts it’s going to be a bumpy ride!
