West Coast Connection Forum
Lifestyle => Train of Thought => Topic started by: Machiavelli on February 03, 2005, 12:04:01 PM
-
What a fucking JOKE this program is.
O.K., they found the "Social Security" program, which is basically a way for the government to force you to save money, so you can have at least some income when you retire. I actually applaud that, because lord knows plenty of people don't plan for their future, so I understand the purpose and the need for the program.
Next, they start collecting 15.3 percent of everyone's paycheck, to fund it. They collect through the history of the program, much, much, MUCH MUCH more than they needed, in order to pay the folks at retirement age their check. No problem there.
The problem comes along when they spend the fucking extra money on other programs, instead of either saving it, or raising the checks for individuals.
Lemme explain to you how severe the problem is.
the government, like I said, takes 15.3 percent of your check.
Lessay you're a punk ass kid, flipping burgers @ McDonalds, for 7.00 an hour. You work full time.
If you were allowed, by the government, to invest 2 percent of that 15.3 into a private mutual fund; by the time you retired, at 70, you would have 950,000 dollars in that bank account. You could earn 6,400 dollars a month just off of interest, not even touching the principle.
So, with approx. 24 dollars a month invested in a mutual fund, you could be not only a millionaire @ retirement, but be earning 5 or 6 times what you earned your entire life. All of this, even if you never got a raise off of the 7 bucks you were making!
Now, the government doesn't take 2 percent. They take 15 percent! And what do you get at retirement? Do you get a million dollars in the bank? Hell no, you don't get shit. Do you get 6 times your pay, at retirement, every month? Hell no, you get at most 1100 a month, and that's if you had an amazing job and paid in hundreds of thousands of dollars.
The system is FUCKED. Those of you against letting people CHOOSE to privatize a portion of their social security money are crazy. I say bring it on before I get too fucking old to make some interest!
Argentina did this, btw. They let people choose if they wanted to privatize it. It's been a huge success, 98 percent of the public choose to privatize their retirement holdings.
Yet, I see people against it, I guess because Bush is for it. Run the numbers
Credit: Trauma
-
Credit: Trauma
I was like, "Damn he really stepped up his intelligence," then I read this part. LOL @ that.
-
Credit: Trauma
I was like, "Damn he really stepped up his intelligence," then I read this part. LOL @ that.
lol i thought something was funny because i read it before the modification....still an interesting post
-
LoL.... I miss Trauma :)
-
yeah I suggest you check the numbers... that whole analysis is way off, and i've already posted on this a few times.
-
so true.. even if numbers are off, it still proves a point.. casue its not far off.
-
I want to know Bush's motivation for pushing Social Security Reform :whistle:
http://www.cepr.net/publications/facts_social_security.htm
lol Trauma you were never good at math ;D
-
I knew right away that Machiavelli didn't think of that himself... the guy is as dumb as Rampant...
-
Im not dumb :P
-
Im not dumb :P
ur as cool as mauzip...
and that aint cool dude lol
-
Im not dumb :P
LMAO. Should I pull up that thread I made? LOLLLL You and Machiavelli are as dumb as they come