The Congresscritters are exempt from SS. Not sure about the Prez.
Ping list for the discussion of the politics and social aspects that directly effects Gen-Reagan/Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
Neat! Now how soon can we rid the U.S. public of this sham called Socialists' Security?
It needs to have a stake driven through its heart.
If all dollars currently going to SS are placed in a PRA, how is SS going to be funded? I assume it would be out of the general fund, which would require either more taxes or more debt. I'm not saying that SS diesn't need to be overhauled, it just seems that the Heritage Foundation is leaving that part of the equation out of their analysis.
For any American the difference would be significant. Starting at age 25, making only $25,000/year and investing just the amount that goes into Social Security (roughly 15% or $3750/year) each year after 40 years a person would have $580,357.37 at a paltry 6% growth rate.
BTW, the Heritage.Org calculator showed me with a return rate of -0.52% using only age/gender criteria. NICE investment USA!
I know Sarah Yoest Pederson. I just can't remember from where. Any info on her?
From the retirement age of 67 until the average lifespan of 72 (only five years), you will draw a total of $87,408.00 from the $222,000 you paid into the Social Security system during your working life.
Are we brainwashed, suckers or what???