Been working fine for over 60 years. Far from the problem Medicare is but that they don't talk about. Funny our borders are wide open and are of more importance right now then S S. They skirt the border issue to. What good is any system if your not secure. And then as bush said in 1978 the SS system will be broke in 10years. Ya right. Nice try then Bush of of course wrong then and now. You want a retirement account Doc start one on your own as many of us did. Don't ask the government to do it for you. S S is back up insurance. If your counting on S S for your retirement plan your going wrong direction. For some it's all they will have. But for most it's not.
Clem D may change parties
- Thread starter Clem D
- Start date
Your numbers make no sense, Freeze...
BOTH you and your employer contribute 6.2% of your salary towards SS...
Thus, 50000 X .062 = 3100 from both you and your employer
unless you are self-employed, like I am..
then you pay both yourself and use some stupid formula to then deduct some of it BACK off your tax bill...the arguement should be for the overhaul of the tax code if you ask me....
3100 X 2 =6200 a year...times 40+ years of work..
still a significant amount over a lifetime....
Only problem I have with private accounts is who is going to run them?
Aprrox. 80% of investment managers do not meet the gains of the overall market every year.
If you require people to invest in Spiders and other index funds that basically track the markets overall performance.. that have llow yearly fees, then I'd have no problem with it...
But that would never happen, so leave the system alone....
BOTH you and your employer contribute 6.2% of your salary towards SS...
Thus, 50000 X .062 = 3100 from both you and your employer
unless you are self-employed, like I am..
then you pay both yourself and use some stupid formula to then deduct some of it BACK off your tax bill...the arguement should be for the overhaul of the tax code if you ask me....
3100 X 2 =6200 a year...times 40+ years of work..
still a significant amount over a lifetime....
Only problem I have with private accounts is who is going to run them?
Aprrox. 80% of investment managers do not meet the gains of the overall market every year.
If you require people to invest in Spiders and other index funds that basically track the markets overall performance.. that have llow yearly fees, then I'd have no problem with it...
But that would never happen, so leave the system alone....
There is no problem with SS if the pool isn't raided by Congress for pork.
It is a self-funding and I don't see the big deal if it does go in the red. Our whole budget drips with red ink anyway so why can't the ss portion of it?
Medicare/Medicaid is where the problem is.
It is a self-funding and I don't see the big deal if it does go in the red. Our whole budget drips with red ink anyway so why can't the ss portion of it?
Medicare/Medicaid is where the problem is.
Over time SS will correct itself just as the population inevitably will. The major goal of SS should be to protect the principal not beat the market. It is intended to provide a safety net for the elderly.
