Why am I still paying money to social security out of my paycheck when it won't be around to actually pay for me when I retire. You all know it's gone in 20 years right?
The money that's been spent in the War (BILLIONS) could have kept us all more secure!
2007-07-28 14:50:27 · 7 answers · asked by floridacrain 4 in Arts & Humanities ➔ Other - Arts & Humanities
A friend of mine, a Ph.D. in math, who worked for Social Security Administration, assures me that the fund will be maintained by simply adding one % more to what's taken out of paychecks. The problem will seriously surface in about 20 years, and then the politicians will have to do the math. They're basically waiting for public opinion to be willing to accept the 1% increase.
In the meantime, it is well to invest 5-15% of one's savings in precious metals (goldline international is one reputable firm, everbank is another). This offsets inflation to the dollar. Since 1980 or so, the dollar's lost about 40% of its buying power, which is a real "hidden tax."
As to security, perhaps it would have been better to invest in border and port inspection. Half a trillion dollars buys a lot, even in today's economy.
Http://www.seandavidmorton.com is a "woo-woo" or intuitive whose track record on predicting things economic is very good.
regards,
j153e
2007-07-28 15:39:54 · answer #1 · answered by j153e 7 · 0⤊ 0⤋
I get your point; however, all who live in the USA have to comply with the laws of the land. These dictates are that money will be deducted from all paychecks for Social Security. Taxpayers should invest in Roth IRA and other retirement funds to provide for their future. No question at all that Social Security System is a disaster and needs to be seriously overhauled or taken privately, but until it becomes "official," John Q. Citizen has to keep paying. As "they" say, two things we can always count on are death and taxes.
2007-07-31 15:59:22 · answer #2 · answered by soupkitty 7 · 0⤊ 0⤋
The good news is, you may never be concerned about it because you may not be here to collect it anyway. You could devote 20 or 30 years to the military while paying into social security to only be told the retirement check you worked to earn will be offset by the amount you collect in social security. So, you can work to earn one of them, pay for the other and then be told you can't have both. Another benefit designed, and approved by the Democratic Party, the party of the 'working man'.
2007-07-30 16:57:46 · answer #3 · answered by closeout_guy 2 · 0⤊ 0⤋
Very true, but there are no provisions for opting out of the SS paycheck deductions. And who knows, something wonderful might happen, the money might stop flowing out of the Treasury and there could still be benefits for you when you are ready to retire.
PS - Is your name really Florida?
2007-07-28 21:59:47 · answer #4 · answered by old lady 7 · 0⤊ 0⤋
Because you're a good law-abiding American...with hope.
2007-08-01 17:21:39 · answer #5 · answered by sudsbud9er 3 · 0⤊ 0⤋
hmm my paycheck says that i am too... i think you are on to something!
2007-07-28 23:14:31 · answer #6 · answered by Go Mike 4 · 0⤊ 0⤋
this is a rhetorical question, right? LOL
2007-07-28 22:27:06 · answer #7 · answered by saddledheart 3 · 0⤊ 0⤋