OT Social Security:
<<I just don't want to pay another nickel in social security for the government to invest and give me a return of 1-2%>>
It's worse than that. The money working people pay today, is used today, to send money to people currently retired. Nothing is saved. What they call the "saved" money, is just another example of Creative Accounting, it's just a mountain of IOUs, given by the government's left hand, to their right hand. When you retire, your check will come from money paid by your children and grandchildren, whoever is working then. It's an income transfer progam, not a savings system.
The only way they could stop taking out SS taxes, is to raise other taxes, run massive deficits (a temporary solution, with a bad ending), or stop paying benefits. I don't mean stop promising to pay you benefits in the future, I mean stop paying current retirees, today. |
