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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (84952)	11/7/2000 12:11:26 PM
From: Tommaso	Read Replies (1) \| Respond to of 132070

I have never thought of SS as anything but a welfare program. But even for many of those who pay, there's the benefit of not having to feel as responsible for their parents, especially for their parents' medical expenses, as they might. Anyone who has had a parent or other aged relative in an ICU running up bills at thousands of dollars a day, or getting a knee replacement for who knows how much, knows what I mean. I really had planned not to get onto this topic, so now I turn to something else, and to give credit for finding it use the SI link: Message 14743002

To: Freedom Fighter who wrote (84952)	11/7/2000 5:51:44 PM
From: Skeeter Bug	Read Replies (2) \| Respond to 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.