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The Chip Board Archive 21

NCR Do you think social security is a entitlement?

Subject: Social Security is an entitlement ?

Entitlement???"

Remember, not only did you contribute to Social Security but your employer did too. It totaled 15% of your income before taxes. If you averaged only 30K over your working life, that’s close to $220,500. If you calculate the future value of $4,500 per year (yours & your employer’s contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working (me) you'd have $892,919.98. If you took out only 3% per year, you receive $26,787.60 per year and it would last better than 30 years, and that’s with no interest paid on that final amount on deposit! If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month. The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madoff ever had.

I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!! Congressional benefits, aka. free health care, outrageous retirement packages, 67 paid holidays, three weeks paid vacation, unlimited paid sick days, now that's welfare, and they have the nerve to call my retirement entitlements.

We're "broke" & can't help our own Seniors, Veterans, Orphans, Homeless etc.,

In the last months we have provided aid to many foreign countries. And now Pakistan home of bin Laden. Literally, BILLIONS of DOLLARS!!!

Our retired seniors living on a 'fixed income' receive no aid nor do they get any breaks while our government and religious organizations pour Billions of $ and Tons of Food to Foreign Countries!

They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives and now when its time for us to collect, the government is running out of money. Why did the government borrow from it in the first place? All in congress and the last 4-5 Presidents are the ones I blame.

Messages In This Thread

NCR Do you think social security is a entitlement?
They All Stink
Re: NCR Do you think social security is a entitlem
Re: NCR Do you think social security is a entitlem
Re: NCR Do you think social security is a entitlem
No, and it's messed up because..
Hmmm.....
Fred! No Soup For You! Next!!!

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