Lifestyle > Train of Thought

entitlement programs..

(1/4) > >>

GoodLuvn169:
Entitilement programs:
What do you all think?  I think the government should get rid of them. 8)

Suffice:
altogether? how about social security programs for the elderly? many of them have no other source of income. I wonder how you'd react to your own quote if you were 65 years old.

GoodLuvn169:

--- Quote from: SnoopGogg818 on April 11, 2004, 07:28:08 PM ---altogether? how about social security programs for the elderly? many of them have no other source of income. I wonder how you'd react to your own quote if you were 65 years old.

--- End quote ---
Ill prepare for the future, when im 65 i wont need social secruity. ::)

Trauma-san:
Here's some simple, simple math to show why Entitlement programs suck.


Take Social Security, Snoop Gag since you're so hung up on it.


The government takes 6.2% of your check, for "social security benefits".  

If you made 6 dollars an hour, for the rest of your life, and worked just a regular 40 hour week... and took the 6.2 percent the government takes from you...and invested it.  At retirement age, just from the money the government takes from you for social security, you would have half a million dollars in the bank.  

That's at 6 dollars an hour.  

Same scenario, if you took the 24 percent that the government takes from you, total, including social security and taxes, at retirement age, 6 dollars an hour, 40 hours a week, you would have 2.2 million dollars in the bank, and that's not figuring in inflation, and that's not figuring in you *EVER* making more than 6 dollars an hour, your entire life.  


Think about that shit for a little while.  How good of a job is John Kerry going to do with your 2.2 million?  

Suffice:
Trauma, you're not even counting inflation. Minimum wage was like 1 dollar when peolple who are retiring now just started working. Also, the money u pay in social security tax isn't SAVED up for you at all. It is used by the government for all kinds of expenditures. In fact, the social security tax you're paying right now is going to pay social security benefits for the elderly. So it's not like money is saved up for you when u retire. When you're old, you won't get ANY benefits because old people are living longer, and still retiring at 65. Most of your points are invalid in this case, sorry. Also, what does income tax have to do with anything?

Navigation

[0] Message Index

[#] Next page