I don't want to pay Social Security. How do i stop?

Question

Some facts I know:
1. All Ponzi Schemes fail at some point.
2. There is no trust fund for this system.
3. People who pay into SS doesn't have an account building interest.
4. The government owes the SS with IOUs.
5. The system is NOT a contract (in other words it can refuse to reimburse me on my retirement).

I know that 50 years from now, I will not be getting paid from this idiotic government program.
Given my age it is actually riskier for me to be forced to pay this rediculous tax (aproximately 8.5% of my salary), than to do investments for myself.
In the long term, I will get better profits from investing this 8.5% of my salary. And it's far less riskier.

So how do I stop paying this crappy system when I know for sure that I will lose money in this system?

Answer 1

see about becoming illegal and start getting paid under the table. i don't see any other ways your going to get away with out paying SS

Answer 2

Social Security is not a pension system, it is a Tax to fund current operations. As so much that you have have no choice in paying Income Tax, you have no choice in Social Security Taxes. The math that many people tend to ignore is on the contribution paid by your employer, which is a match of the part you see. In reality, when you think you are earning $10.00, you are really earning $11.24, because this is what your employer is paying out for you. After SS is subtracted you get $8.76, SS gets $2.48 and that is 22%, add in Income Tax, and you are paying 38%on average! And you are not permitted to apply deductions like mortage intrest. Many pro SS people prefer the Employer contribution be excluded, but is money paid out on your behalf based on your work. The best you can do is to pay your Tax now, and vote for real reform of how we manage a public pension program. Sorry.

Answer 3

There are several way to opt of the SS system. I have several friends that do it. From what I have been told you also opt out of every Government system, (no food stamps, no dissability, no assistance of any kind) and this government opt out is nonreversable (you can never get back into the SS system).

Securing Your Retirement



Politicians in Washington are stealing your future.

Every year, they take 12.4% of your income to prop up their failed Social Security system - a system that is heading toward bankruptcy.

If you are an American earning the median income of $31,695 per year, and were given the option of investing that same amount of money in a stock mutual fund, you would retire a millionaire - without winning the lottery or a TV game show.

That million dollars would provide you with a retirement income of over $100,000 per year - about five times what you could expect from Social Security.

Even a very conservative investment strategy would yield three times the benefits promised by Social Security.

Libertarians believe you should be able to opt out of Social Security and invest your money in your own personal retirement account. An account that you own and control - one that politicians can't get their hands on.

Republicans and Democrats say it can't be done - that your Social Security taxes are needed to pay benefits to today's retirees. Instead of letting you invest in your own future, they want you to have faith that someone else will pay your benefits when it comes time for you to retire.

Although most won't admit it publicly, their "solutions" to the Social Security crises all come down to some combination of tax increases and benefit cuts.

Libertarians know that there's a better way.

Countries like Chile, Mexico, Britain, and Australia have successfully made the transition from their failed Social Security systems to healthy systems based on individual retirement accounts. In Chile, over 90% of workers have opted out of the government-run system. It's time America did as well.

The federal government owns assets worth trillions of dollars - assets that it simply doesn't need to perform its Constitutional functions. By selling those assets over time, we can keep the promises that were made to today's retirees, and to those nearing retirement, while freeing the rest of America from a failed Social Security system.

Libertarians will introduce and support legislation to give you that choice, and put you in control of your own retirement future.

Answer 4

Trust me there is no way out of it legally...
Yes, it will probally run dry by the time you reach retirement age. I`m 40 and have been told the same thing. Save your money wisely with a 401k or pension from your job. SS will not be there for the rest of us..

Answer 5

There is nothing you can do but quit working. You have no way to opt out of the system. Best idea is to get busy lobbying to change the laws that trap you in the situation you describe. This is essentially a political problem.

Answer 6

Go find a job in a country that doesnt have a social securtiy system in place.

Answer 7

You can quit paying Social Security by either going to jail, or dying.
The choice is yours.

Answer 8

Go to jail, and then you won't have to pay it, unless you get a job in jail.

Answer 9

u cant unless u get paid "'under the table" but that is illegal too

Answer 10

become a Priest