Thursday, April 21, 2005

Social Security: Scam of the Century!

I found this social security calculator from the Heritage Foundation's website, heritage.org. I entered my age, and it estimated that I could expect to pay $388,670 in social security taxes. I can expect to receive $2,629 a month at a rate of return of -0.69%. Were I able to invest all of my social security taxes in a Personal Retirement Account, I would have a total of $1,099,351 when I retire. My monthly benefits would be $8,955. $8,955 is better than $2,629. Now, granted, they have no idea how much money I make, or how long I will work, etc. They're probably just basing that on statistical averages. But it still begs the question: Why aren't the Democrats on board for privatization when they supposedly represent the working class who is being ripped off by social security? Because they're communists. Privatization means less power and money for the state, less opportunity for them to use it to line their pockets. They don't care if we don't get a red cent of our money back.

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