SOCIAL SECURITY NOW CALLED "FEDERAL BENEFIT PAYMENT ENTITLEMENT"
DizziNY
2012/08/07 10:20:37
SOCIAL SECURITY NOW CALLED FEDERAL BENEFIT PAYMENT
ENTITLEMENT
Have you noticed, your Social Security check is now referred to as
a "Federal Benefit Payment"?
I'll be part of the one percent to forward this. I am forwarding
it because it touches a nerve in me, and I hope it will in you.
Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a
“Federal Benefit Payment.” This isn’t a benefit – its earned income!
Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes. If you averaged $30K per
year over your working life, that's close to $180,000 invested in
Social Security.
If you calculate the future value of your monthly investment in
social security ($375/month, including both your and your employer’s
contributions) at a meager 1% interest rate compounded monthly,
after 40 years of working you'd have more than $1.3+ million dollars
saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you'd receive
$39,318 per year, or $3,277 per month. That’s almost three times more
than today’s average Social Security benefit of $1,230 per month,
according to the Social Security Administration (Google it - it’s a fact).
And your retirement fund would last more than 33 years (until you're
98 if you retire at age 65)!
I can only imagine how much better most average-income people
could live in retirement if our government had just invested our money
in low-risk interest-earning accounts. Instead, the folks in
Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever
did. They took our money and used it elsewhere. They “forgot” that
it was OUR money they were taking. They didn’t have a referendum to
ask us if we wanted to lend the money to them. And they didn’t pay
interest on the debt they assumed.
And recently, they’ve told us that the money won’t support us for very
much longer. But is it our fault they misused our investments?
And now, to add insult to injury, they’re calling it a “benefit,”
as if we never worked to earn every penny of it. Just because they
“borrowed” the money, doesn't mean that our investments were a
charity!
Let’s take a stand.
We have earned our right to Social Security and Medicare. Demand
that our legislators bring some sense into our government – Find a way
to keep Social Security and Medicare going, for the sake of that 92%
of our population who need it.
Here’s a novel idea: Reduce the military budget to support our own
population. Get out of the countries who don’t want us there. Bring
our soldiers home and invest some of the $700B+ in giving them new
careers
building roads and parks, teaching our children, creating new
technologies, discovering cures for illness.
Then take the rest and begin to pay back Social Security, and call
it what it is: Our Earned Retirement Income.
ENTITLEMENT
Have you noticed, your Social Security check is now referred to as
a "Federal Benefit Payment"?
I'll be part of the one percent to forward this. I am forwarding
it because it touches a nerve in me, and I hope it will in you.
Please keep passing it on until everyone in our country has read it.
The government is now referring to our Social Security checks as a
“Federal Benefit Payment.” This isn’t a benefit – its earned income!
Not only did we all contribute to Social Security but our employers did too.
It totaled 15% of our income before taxes. If you averaged $30K per
year over your working life, that's close to $180,000 invested in
Social Security.
If you calculate the future value of your monthly investment in
social security ($375/month, including both your and your employer’s
contributions) at a meager 1% interest rate compounded monthly,
after 40 years of working you'd have more than $1.3+ million dollars
saved! This is your personal investment.
Upon retirement, if you took out only 3% per year, you'd receive
$39,318 per year, or $3,277 per month. That’s almost three times more
than today’s average Social Security benefit of $1,230 per month,
according to the Social Security Administration (Google it - it’s a fact).
And your retirement fund would last more than 33 years (until you're
98 if you retire at age 65)!
I can only imagine how much better most average-income people
could live in retirement if our government had just invested our money
in low-risk interest-earning accounts. Instead, the folks in
Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever
did. They took our money and used it elsewhere. They “forgot” that
it was OUR money they were taking. They didn’t have a referendum to
ask us if we wanted to lend the money to them. And they didn’t pay
interest on the debt they assumed.
And recently, they’ve told us that the money won’t support us for very
much longer. But is it our fault they misused our investments?
And now, to add insult to injury, they’re calling it a “benefit,”
as if we never worked to earn every penny of it. Just because they
“borrowed” the money, doesn't mean that our investments were a
charity!
Let’s take a stand.
We have earned our right to Social Security and Medicare. Demand
that our legislators bring some sense into our government – Find a way
to keep Social Security and Medicare going, for the sake of that 92%
of our population who need it.
Here’s a novel idea: Reduce the military budget to support our own
population. Get out of the countries who don’t want us there. Bring
our soldiers home and invest some of the $700B+ in giving them new
careers
building roads and parks, teaching our children, creating new
technologies, discovering cures for illness.
Then take the rest and begin to pay back Social Security, and call
it what it is: Our Earned Retirement Income.
It's there for a reason.
Reduce the military budget to support our own
population. Get out of the countries who don’t want us there. Bring
our soldiers home and invest some of the $700B in giving them new
careers
building roads and parks, teaching our children, creating new
technologies, discovering cures for illness.
Then take the rest and begin to pay back Social Security, and call
it what it is: Our Earned Retirement Income.