tileman1814
Kalispell, MT
64, joined Nov. 2007
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Federal Benefit Payment:
SOCIAL SECURITY NOW CALLED 'FEDERAL BENEFIT PAYMENT'/ENTITLEMENT!
Have you noticed, your Social Security check is now referred to as a "Federal Benefit Payment"?This touches a nerve in me, and I hope it will in you. The government is now referring to our Social Security checks as a "Federal Benefit Payment." This isn't a benefit - it's earned income! Not only did we all contribute to Social Security but our employers did too. It totaled 15% of our income before taxes. If you averaged $30K per year over your working life, that's close to $180,000 invested in Social Security. If you calculate the future value of your monthly investment in social security ($375/month, including both yours and your employer's contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment. Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month. That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - it's a fact). And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts. Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They "forgot" that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them. And they didn't pay interest on the debt they assumed. And recently, they've told us that the money won't support us for very much longer. But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a "benefit", as if we never worked to earn every penny of it. Just because they "borrowed" the money, doesn't mean that our investments were a charity! Let's take a stand. We have earned our right to Social Security and Medicare. Demand that our legislators bring some sense into our government - Find a way to keep Social Security and Medicare going, for the sake of that 92% of our population who need it and call it what it is: Our Earned Retirement Income.
Semper Fi !!!
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sureshot40
Drumright, OK
46, joined Apr. 2011
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The reason they did this was to lump senior citazens and welfare recipients together as voters. Social security is a paid for retirement, not a government handout. Have you noticed all the new disability claims, because some think its an entitlement.
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stargazzer
Creighton, NE
66, joined Feb. 2007
online now!
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This is not right period. You din't errn it now.
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twoletters
Overgaard, AZ
68, joined Oct. 2007
online now!
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It pisses me off when they call SSI and Medicare an entitlement. We had "no choice" except to pay into it our whole working lifetime. Santorum did that and it turned me off on him.
If the politicians put 300 a month into a bank and kept it going for 40 years as a retirement fund, then at the end of 40 years the bank told them "sorry we had to use YOUR money to pay OUR bills, so nothing is left for you, or here's a token monthly payment of what's left", isn't that be considered stealing.
And what about the monies paid in by a spouse that died before retirement.Where did that money go?
I have no use for any politician (R or D)that literally RAPED the Social Security fund.
And they tell me I'm "allowed" to make 1,000 a month before I get punished from SSI. I guess I'm supposed to feel bad if I work for cash and don't contribute to their slush fund for the rest of the world.
Dam, we need to revamp the whole political population. Throw out every one of them that has been there more than one term and make them subject to the same things we are.Retirement and medical.
Not a single one of them worked any harder or longer than we did in our lifetime. They are "not" the elite of society.
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