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Politics : Ask Michael Burke

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To: Freedom Fighter who wrote (84952)	11/7/2000 5:51:44 PM
From: Skeeter Bug	Read Replies (2) of 132070

wayne, do this simple, real life calculation. how much, in today's dollars will you put in each year on avg (assume 15% of wages for both ss and medicare - yes you pay the other half of ss even though the company sends in the check!)? how many years will you contribute? i came up with over $400k without interest - yes, in today's dollars! $400k smackers. that is $1667/mo w/o touching principle and it assumes i will retire around 65. add another $1200/month to get me near $4k/month and i'd have to live until i was 93 years old to run out of dough. $4k/month for 28 years at 65 or $1k per month for 28+ years at 65? not to mention the ability to pass down the lump sum should i not live to 93. please tell me how the freeloaders who voted this system into place can make a 75% reduction in value worse! wayne, 75% reduction - and that assumes no interest for 40 freaking years of investment! add in interest and you are now talking 85% reduction. i'll get 15 cents on the dollar, IF THINGS STAY THE SAME. it is GUARANTEED to get worse.

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