First of all Social Security always was and always will be a “Ponzi scheme. When FDR started it there were 35 workers supporting every recipient. Now I think it’s less than 3. At some point there will be 2 workers supporting each retiree. If the average benefit is $1600 a month then each worker will have to kick in $800 a month (plus administrative overhead) in FICA. You may not care about that fact, but I assure you that those 2 workers will. And a little further down the road the ratio will be 1:1 and that worker is going to be REALLY concerned.
I’ve been retired 9 years and I figure I’m pretty close to having gotten back all the money I put into the system. If I haven’t already then I soon will be receiving checks on some poor working schlubb’s dime. You know it’s not like S.S. is taking your FICA ‘contribution’ and making wise investments with it. The lamestream media and the Democrats tried to crucify George W. Bush when he suggested that.
What happens is that the FICA comes in and is counted as ‘revenue.’ Then that money is used to buy invisible IOU bonds. What it really means is it goes into the general fund. BTW, when they do that, they count it as revenue a second time. So all the FICA money you ever paid has long ago been spent. All that remains of your money is Algore’s lockbox and it is chock full of worthless IOUs – period. So don’t blame Trump. Blame FDR and the Democrats. The one thing you must understand about Ponzi schemes is that they must at some point, by definition, COLLAPSE ! ! !

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s