Complaining about the amount received by the SSA is idiotic when contrasted with the millions of Americans who can't find even a DECENT job and who DON'T qualify for Social Security compensation.
Most people on SS get paid far more over the span of their retired lives than they EVER put into it.. Complaining about how "measly" it is is UNFOUNDED and outright GREEEEEEDY!
If you predate the baby boomer generation, that's true.
But for boomers and later generations, it's depends on your average lifetime income. If you are under the median, you get more than you contributed. If you are above the median, you get less than you contributed.
To clarify: this takes the time value of money into account -- i.e. if you were to invest your Social Security contributions into the equivalent of long-term Treasury bonds.
If you simply measure contributions to benefits, benefits will always be larger due to inflation over your lifetime, and your contributions being considered to be an interest-free loan to the government.
Then don’t apply for yours when you become eligible...
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Bullshit!
If I had the money that was contributed in my name, I could have over $2,000,000 in principle built up at this point.
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“Most people on SS get paid far more over the span of their retired lives than they EVER put into it.”
Think again. My brother died at age 58. He paid into SS from age 16 until he died and never got a penny. My husband died at age 64. He paid into SS from age 16 until he died and never got a penny. I also paid into SS from the age of 16, and I do not feel guilty getting a SS payment every month. I will never receive as much as my brother, husband and I combined paid into the system.
however, this govt has taken massive amt of money from the younger boomers...
this govt has a 0% interest rate on our savings (thru the banks)
this govt has allowed companies to do away with defined pensions while leaving the govt workers fully intact and growing...
so what the heck do you think we can do out here on a $3.92 raise a month?....
we're broke...and getting broker..