Quantcast

SOCIAL SECURITY-NOW CALLED-FEDERAL BENEFIT PAYMENT ENTITLEMENT!

~ The Rebel ~ 2012/09/26 12:31:33
How cool, the government uses the IRS to extort money out of us to put it into a Ponzi scheme and calls it a federal benefit.

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)!

Read More: http://dancingczars.wordpress.com/2012/09/25/socia...

You!
Add Photos & Videos

Top Opinion

  • Sam W. Keenon 2012/11/21 00:23:37
    Sam W. Keenon
    +17
    It infuriates me that they refer to Social Security as an entitlement or a Federal Benefit. It is neither. All my working years my paycheck stub showed a deduction called FICA. FICA stands for Federal INSURANCE Contribution Act. So- Social Security is insurance, bought and paid for.

Sort By
  • Most Raves
  • Least Raves
  • Oldest
  • Newest
Opinions

  • Sam W. Keenon 2012/11/21 00:23:37
    Sam W. Keenon
    +17
    It infuriates me that they refer to Social Security as an entitlement or a Federal Benefit. It is neither. All my working years my paycheck stub showed a deduction called FICA. FICA stands for Federal INSURANCE Contribution Act. So- Social Security is insurance, bought and paid for.
  • MelissaBaker1029 2012/10/15 02:41:56
    MelissaBaker1029
    PLEASE DO YOUR RESEARCH BEFORE YOU POST JUNK LIKE THIS - IT IS NOT TRUE!

    The first part is true, but it's been called that since day 1 - no cause for alarm.

    The second part is WAY off. Our FICA tax was NEVER 15% "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."
    OUR CURRENT LEVEL IS 12.4%.

    http://www.snopes.com/politic...
    http://wiki.answers.com/Q/Is_...
    http://www.cleveland.com/busi...
  • MsTlynne 2012/09/26 18:30:42 (edited)
    MsTlynne
    Every sane person knows that social security is a benfit, not an entitlement. Don't get your panties all bunched up and spread false fear concentrating on the "entitlement" part. We all know it's something earned.
    http://www.snopes.com/politic...
  • none 2012/09/26 16:28:12
    none
    +2
    Unless you're completely ignorant you know that we've paid for SS in every paycheck we get. It's an investment we're forced to make so when the time comes to get the benefit at 62 or 66 or whenever it's not an entitlement, it's a return on our own forced investment.
  • PoliticalSanity 2012/09/26 14:34:56
    PoliticalSanity
    +2
    They shamelessly spent all the Social Security reserves and now have to budget for paying recipients out of revenue, so it could seem like they are providing a benefit, but only from the Congressional point of view.
  • Mr. T 2012/09/26 12:58:43
    Mr. T
    +2
    Federal benefit my ass. "The Government" are only trying to brainwash the younger generation into thinking "They" are so benevolent and caring so if you want to receive "Their" gift, you had better vote for "Them". And, "They" are wanting to raise the retirement age in hopes many more will die off before you can collect anything or for a much shorter period of time.

See Votes by State

The map above displays the winning answer by region.

News & Politics

2014/08/27 11:08:22

Hot Questions on SodaHead
More Hot Questions

More Community More Originals