Im 23 years old and pay over a hundred dollars per paycheck towards social security. The program is doomed and theres no way I will get a check every month when I retire so why should I be forced to pay? Should'nt we be allowed to opt out and put the money we save towards are own retirement plans or spend the way we wish?
2007-09-06 08:15:51 · 11 answers · asked by Steven Colbert 4 in Business & Finance ➔ Taxes ➔ United States
To everyone who gave some BS answer.... blow me. You only made those comments because your old and will be collection SS soon....which i will be paying for. Everyone knows the system is deaply flawed and in danger!
2007-09-06 14:48:54 · update #1
everyone of us is asking the same thing
2007-09-06 08:23:42 · answer #1 · answered by IT'S ME AGAIN 6 · 2⤊ 0⤋
First of all, you don't know that you'll never get any benefits. The system will probably be there when you retire, although most likely in a very different form, possibly means-tested so you'd only get benefits if you are very needy.
Your payments are also providing disability insurance for you now. You certainly hope you'll never need it, but you never know.
There could be good arguments made for letting people put away their own money toward retirement - but then what are you going to do with people who don't? Just let them starve? Not likely. And you heard the furor that erupted when G. Bush proposed that people be allowed to invest only a PART of their social security contributions themselves - what chance do you suppose there would be of dumping the whole ss payment system?
2007-09-06 08:23:18 · answer #2 · answered by Judy 7 · 5⤊ 2⤋
because you're paying for the people on social security NOW. that's how the system works. you can always move to canada where you have to pay for socialized medicine even if you don't use it or any other country that has high tax rates and a lot less of an opportunity for a good living. Even if you were guaranteed soc sec, it won't be enough to live on so you would still have to do your own investing to help provide for yourself.
2007-09-06 08:20:33 · answer #3 · answered by Anonymous · 3⤊ 1⤋
And what happens if you made to retirement age going bare? Do you have the discipline to provide for yourself with a 401(k) plan or IRA or would you spend it all and become a burden on society because you wanted out when you were young?
Unless you have a suicide in your long term plans, you don't know if you will get benefits or not. A certain number of people are going to check out of the world before they get close to retirement age so will end up with zilch. Others will live to be 100 and will clean up. Take care of yourself so you can be in the latter group.
2007-09-06 12:43:34 · answer #4 · answered by Anonymous · 1⤊ 3⤋
that's a non everlasting tax trip that can assist you you out. It wont decrease your retirement income lots provided you have countless years left to artwork. in case you're retiring in a year, it could make a distinction on your income. Obama don't have helped all of us.
2016-10-10 01:59:38 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Because, as of now, it is the law! Period.
The taxes you pay now are used to pay benefits to people now. Go tell a retired person that they have to stop getting a social security check so you can save a whole $100.
2007-09-06 08:23:26 · answer #6 · answered by Wayne Z 7 · 3⤊ 4⤋
Like all social programs, you are not putting away money for you, you are paying for others. Your money is covering the payments for those currently in retirement.
2007-09-06 08:24:23 · answer #7 · answered by Anonymous · 0⤊ 3⤋
its a faulty system. simple as that. the new president better make retirement & welfare a priority. and what i mean by welfare is, they are giving away too much. people need to be drug tested and certified to receive payments. millions go to drugs and booze when it should be going to food and rent. .
2007-09-06 08:27:12 · answer #8 · answered by Anonymous · 3⤊ 1⤋
I agree with Dr Deth. However, you are also accumulating insured quarters for your own coverage in case you become disabled before the age you can draw Social Security.
2007-09-06 08:23:48 · answer #9 · answered by curiositycat 6 · 0⤊ 3⤋
Because the amounts I have contributed paid social security to your parents and grandparents.
2007-09-06 08:31:48 · answer #10 · answered by waggy_33 6 · 1⤊ 2⤋