SOCIAL SECURITY it appeals to the rich don't you think? (read details)?

Question

Pretend you just bought 2 million worth or stock say 5 years ago in Exxon Mobile it would now be worth 4 million so you now have made 2 million if you sell you equity and if you did it's a profit so you don't have to pay ANY SOCIAL SECURITY becasue you didn't ACTIVELY participate in the income. Now pretend your like the 2 million people LITERALLY who work at wal-mart or the half million who work at Starbucks you will have to pay SS on your POOR PAYING JOB. Say you WORK HARD everyday trying to keep your family business alive STRIVING to make it well guess what your actively participating in your income so you have to pay Social Security. NOW PRETEND your rich and you own 3 FRANCHISE MCDONALDS and you have hired good managers at all 3, you love golfing in the warm whether so you spend all your days in Florida golfing getting the checks in the mail from Mcdonalds profits and you only check on them once a year. GUESS WHAT? No social security must be paid you didn't participate in it.

Answer 1

If you don't pay SS you don't collect any. If nobody invested there wouldn't be anyone to give you jobs. If you don't like it invest and reap the benefits.
Many of us working stiffs are investing and getting the benefits. Gains in investments aren't taxed until you sell and if you die before selling your heirs get a stepped up basis. If you had bought stock 5 years ago that doubled you may still own it and it may double again.
Work hard and save your money so you can get past the line where the rich get richer and the poor get poorer.
At least you were smart enough to know investing is the way out of being a working stiff.
Most of us will need to invest because we don't want to attempt to live on SS.
I don't think the rich care about it at all but for us hard working people who saved and invested it is a nice base that we paid for by working 30-40 years paying in increasing percentages over the decades.

Answer 2

First of all XOM has tripled in the last 5 years so you'd have $6 million. More importantly, where did you get the money to buy the XOM shares? Presumably from working, when you paid social security. Guess what else? When you work and pay Social Security tax you're making an agreement with the government to get that money back when you retire. That's the entire point, it's a forced retirement savings plan. Yes, you pay no social security tax on capital gains but you don't get paid social security on those earnings either. What's the problem?

When those hard working people at WalMart are 90 years old and are living off government checks because they weren't able to save any/enough money during their working years, they are going to be very happy Social Security was forced on them.

Answer 3

NO NO NO. When my Father died from a heart attack at an early age, my Mother received Social Security checks to keep us fed and housed.
You have to get your facts straight.
Social Security was originally designed to begin at age 65 when the life expectancy was 63. Do the math. Less than half of the people would qualify.
Today life expectancy is 77+ and Social Security benefits still are at 65. No wonder the system is going broke.
SS is based on ones employment history. That is the only fair way to do it otherwise we live in Cuba.

Answer 4

Learn to make money and you will not have to worry about any SS. Have you ever seen anybody getting wealthy on SS?

However if you are trading your time for money also known as being an employee, you do not stand a chance. Income tax, SS and all kind of social assistance was designed for those who depend on others to create the jobs for them, which is a majority.

The freedom rests in your choice as to where you want to be.

Answer 5

no person would desire to like social safety, in the event that they understand what they're conversing approximately. prosperous people dont like it by way of fact they arent going to % that funds while they retire. they might a lot extremely have it now of their verify so as that they might make investments it and strengthen into greater prosperous. unfavorable people would desire to hate it by way of fact, at the same time because it ought to look that they are getting help while they retire, its no longer that way in any respect. in the event that they have been waiting to have that funds and staggering make investments it in shares, mutual fund, bonds, or in step with hazard a freaking CD they might come into retirement with a multitude load of funds. the government. doesnt make investments the money they take from you, they in basic terms provide it to the people who're retired precise now. in case you ought to take that $2500 (common quantity) they take from you each year, and make a measely 5% a three hundred and sixty 5 days on it. you pop out with $239,590 after 35 years. Now in case you may make 11% on it, you will possibly have $950,411. Thats in actuality one million greenbacks. additionally, the money they provide back to you, has strengthen right into a sufferer of inflation. So its extremely worth much less after all those years. So tell me which might you extremely have SS or no SS. i think of the respond is an identical for prosperous and unfavorable.