7 Sep 2022 3:08 pm
If you collect SS from age 67 to age 85 you will receive back what you paid in but less than the rate of inflation. In other words, you receive NOTHING as a return on what you paid in. You're purchasing power will be less than what you paid in almost without exception. You would have to live to 110 just to break even with inflation. Not what I would call an "investment".Buffalo » 07 Sep 2022, 2:58 pm » wrote: ↑ I disagree. It is a system you were forced to pay into in return for a promise of future benefits. WE are entitled to those benefits as we paid into the system.
Reagan and Greenspan **** the working class when he and Greenspan cooked up the scheme to raise the payroll tax by telling Congress and the working class that it would make the SS System solvent for retirees for generations. But in reality is was to make up for the budget shortfalls caused by Reagan's tax cuts for his rich buddies for helping him get elected. The new payroll tax revenue was simply put into general revenue and spent.
https://dissidentvoice.org/2010/04/how- ... an-people/
It is inexcusable for the fund to be deficient when you consider half don't even survive long enough to collect and get nothing. The ones who do survive the government doesn't even pay enough to beat inflation? Ridiculous! Of course the government doesn't invest the money at all. They use the profits (and they are large) to help offset what they tell the public is the deficit.