tag:blogger.com,1999:blog-2182962435875556601.post5934098365459672222..comments2023-09-24T08:04:06.909-04:00Comments on FSK's Guide to Reality: Social Security CashflowFSKhttp://www.blogger.com/profile/11903396202330950362noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2182962435875556601.post-55304749254238248552011-01-22T19:35:31.208-05:002011-01-22T19:35:31.208-05:00FSK,
Great post! I also computed my SS taxes and c...FSK,<br />Great post! I also computed my SS taxes and compared to benefits that I may theoretically be eligible to receive. The conclusion is the same as yours. I will never be able to get my money back. Another interesting point is that the difference in projected benefits for somebody whose taxable income is $5000 and $100,000 is only ~$500 dollars per month. In other words, those who pay into social security 20x times can only expect their benefit be 20-30% higher. Roughly speaking I will be entitled only to benefits in the amount that I will pay in social security taxes during 5 years of work. The bad thing is that many people do not realize how Social Security taxes deprive them of their income and still think about government as if it was some kind of philanthropical uncle. I do not feel sorry for them - they deserve to be molested by Uncle Sam.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2182962435875556601.post-29308917686363149932011-01-22T13:59:43.505-05:002011-01-22T13:59:43.505-05:00This is interesting. One could test then, if votes...This is interesting. One could test then, if votes really matter in USA.<br /><br />Set up a website and sign up younger people to vote as one block for anyone who makes it possible for them to voluntarily leave social security. (I would immediately sign up, because I want to stop paying now.) They would sign a waiver that assures they are never to receive more than they paid in already.<br /><br />Such a block should have no success, no matter how many youngsters it has in it, - because, as you are pointing out, the existence of SS is for 1)cash cow 2)pork positions 3)inflation obscuring device (not true, because there are no funds, all funds are spent already).<br /><br />No politician will then be able to work-out a voluntary exit from SS for his constituency, which would confirm there is no democracy in US and votes do not matter.<br /><br />Any socialist system must necessarily collapse if there is voluntary exit from it, because those most abused (fed into the system) would be exactly the ones wanting out. No robbery or theft or slavery can exist if there is a voluntary opt-out. The only ones left are always robbers, thieves and masters themselves!Samminoreply@blogger.comtag:blogger.com,1999:blog-2182962435875556601.post-5511806194304635372011-01-22T13:28:32.623-05:002011-01-22T13:28:32.623-05:00I got injured at work to the extent that I needed ...I got injured at work to the extent that I needed months to heal.<br /><br />I went to the State funded doctor who out and out refused to get involved. Despite paying high taxes including social security, I got nothing back in terms of healthcare.<br /><br />My place of work could not fire me because of my injury and so a group of managers started to bully and harass me until the workplace came so unbearable I had to leave.<br /><br />Because my State funded doctor was useless I did not have a straightforward claim for government welfare benefits.<br /><br />So I got injured at work, lost my job and could not claim government benefits despite paying high taxes for many years.<br /><br />I had to live off my savings and pay private health care practitioners. My savings would have been much higher without the burden of taxes.<br /><br />What a complete and utter rip off?<br /><br />I paid taxes presumably for healthcare and benefits in the even of need, but I got nill back and have to use my own savings.<br /><br />Buy saving is hard and takes years given high taxes.<br /><br />Where did my money go?Anonymousnoreply@blogger.com