Social Security

[Bartruff1]

Originally Posted by Anthony

the major common lie about SS is the amount that each of us pay. 6.2% is often quoted, but in actuality, we all pay about 12.4%, as either our employer is paying that, or if you are self-employed, you pay the additional 6.2%.

What a great accounting scam.

Assuming , like health insurance, that you would get that money in wages. Like the poor, SS will always be with us because a significant number of people are not able to defer gratification and invest in their future. If you are 50 and you don't have sufficient wealth to quit working (if you want) you have made some very bad choices in the last 30 years. Of course, there are some victims of circumstances and/or bad luck but damn few. Like you, I know beer truck drivers and roofers and plumbers that are millionairs because they were honest and dependable and worked hard ..bought homes... and had the good sense to invest in their future when they were young and able to take advantage of compounding intrest and the tax code. Hell, I never bought a lunch for 30 years and drank coffee out of my thermos. I don't draw SS. Some of the kids I went to school with went into the Army right out of ROTC and retired as Captains, Majors etc..with a pension in their 40's...took a civil service job in Defense with a veterans preference and were eligible for another pension at 55 and then took another job to earn their quarters... I am likely wrong on the facts cuz Reagan put a end to some of the double and triple dipping...but those guys were smart !! Yes, they were all guys in those days..