When Social Security started the avg. life expenctancy of white males was 68. The average person recoups everything they paid into SS in 3 years. You retired at 65, withdrew for 3 years then you were expected to croak. Nowadays you crackers (said lovingly) are living to be 80-90 years old and it's driving us to the poor house.
When Social Security started the avg. life expenctancy of white males was 68. The average person recoups everything they paid into SS in 3 years. You retired at 65, withdrew for 3 years then you were expected to croak. Nowadays you crackers (said lovingly) are living to be 80-90 years old and it's driving us to the poor house.
Life expectancy is what they tell you - that's actually not the whole truth.
The SS tax has more than quadrupled since inception. It was 3%, now it is 12.4%.
SS was designed to be a temporary measure that never went away, like affirmaitve action, ironically. (Said lovingly)
It;s time for it to go away, since it is currently delivering returns of 1 to 2% per American. (Note: that is slightly better than putting the money into a shoebox and burying it)