How, when your Social Security check could be cut by $500 a month: Report [More]
Noting all the waste, fraud and abuse, and money spent on illegals…
I sure wish I’d had the money they took from me all my working life (and forced my employers to cough up, thereby lowering my wages) to invest. Instead, we’ve been coerced into dependency by a government that presumes to be more responsible with our money than we would be, and which, despite denials, was the long-term plan all along.
Theoretically, who should be hanged?
Not sure we have enough rope.
On that rope, didn’t they sell that to us on Friday so that they could hang us with it on Monday?
BTW the link; “Trust fund.” Right.; isn’t working, at least for me.
I just tested it and it worked fine for me. Try copying and pasting the url in your browser: https://www.cato.org/policy-analysis/social-security-trust-fund-myth
Just don’t call it “welfare for the middle class”. You think “Second Amendment remedies” gets the pearl clutching started? You ain’t seen nuttin’!
Mr. Codrea:
I’ve run multiple spreadsheets using decadal ROI’s on the money stolen from me at gunpoint (government guns) for “Social Security”. I based them on the money “withheld” from my paychecks and didn’t include employer “contributions” using the data provided by SocSec itself in statements to me. I then looked at the offer of a full-survivorship annuity from the company for which I worked when I retired based on a cash-balance pension (which had been killed shortly after I started and replaced with a 401(k) plan).
With absolutely ZERO return on investment I would be making about 20% more than I’m getting monthly from SocSec. Even a modest 4% return over the years (from 1974 to 2018) yields a DOUBLING of my monthly income. Using various decades of higher and lower returns based on decadal S&P 500 returns gives me a cash balance at the end that would TRIPLE my income.
Had I been allowed to retain that money and invest it we’d be far, far better off than we are with a non-existent “trust fund”. And if someone tries to claim that I’d have just spent it, I’ll point to the maxed-out contributions I made to my 401(k) that allowed me even greater returns.
Heck, right now, today, I’d settle for just getting my money back in cash with zero interest on the amount…I could STILL get a better annuity (with full survivor benefits) than I’m getting from SocSec.