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it is a contribution as we get it back in the senior years.
But your proportion you get back is directly proportional to how long you live.
Social security isn't a good return on your investment. You could make more money easily through a CD at your local bank in fact.
But Social security is there, if the banks fail. Social security is there, if you live so long that you run out of those great CD rates. Social security is there, if you become disabled while in your working life and can't work anymore.
Its the security part you're paying for, not the interest rate.
A dishonest person would. Some people never live to e 68, and even the ones that do, some don't live to be 70 or 75, thus never getting the full amount back. In fact, people who earn very little have shorter life spans, so they are less likely to be living up to 80 + years
A dishonest person would. Some people never live to e 68, and even the ones that do, some don't live to be 70 or 75, thus never getting the full amount back. In fact, people who earn very little have shorter life spans, so they are less likely to be living up to 80 + years
All true. Some die at an early age and collect nothing, others pay less than they ultimately receive and some pay more than they ultimately receive. That's not any different than paying federal and state taxes. There's not a dollar in = dollar in services in those taxes any more than in SS taxes.
All true. Some die at an early age and collect nothing, others pay less than they ultimately receive and some pay more than they ultimately receive. That's not any different than paying federal and state taxes. There's not a dollar in = dollar in services in those taxes any more than in SS taxes.
So if SS and Medicare are taxes, and no one gets a refund on SS taxes at the end of the year, why do so many insist that half of Americans don't pay taxes??
Yes, just like the penalties for not signing on to Obamacare are now officially called a "tax". And with as much accuracy.
When SS was first enacted, it was billed as a retirement-assistance program, not a tax, since the last thing the people wanted in the middle of the Great Depression was a new tax they had to pay.
People sued immediately, and a case found its way to the Supreme Court. One Supreme Court justice actually took a Congressman aside and told him that the way to get SS to pass the Court, was to pretend it was a "tax" instead of what it really was, a Ponzi scheme. The government lawyers did exactly that, and the Supremes OK'd it.
All true. Some die at an early age and collect nothing, others pay less than they ultimately receive and some pay more than they ultimately receive. That's not any different than paying federal and state taxes. There's not a dollar in = dollar in services in those taxes any more than in SS taxes.
If someone dies at an early age their family often collect their father's or husband's Social Security as survivors to help with living expenses. Paul Ryan's has already collected monthly Social Security benefits as a survivor when his father died when he was 16. So basically he benefited from the very program he wants to dismantle.
So if SS and Medicare are taxes, and no one gets a refund on SS taxes at the end of the year, why do so many insist that half of Americans don't pay taxes??
You're correct. It's only correct if you say half of all Americans don't pay FEDERAL income tax.
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