Social Security for Me

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So, I actually took the time to read my Social Security Statement. In that document, there are wonderful bits that I thought others might find interesting. (Emphasis mine.)

Social Security is a compact between generations. For deca, America has kept the promises of security for its workers and their families. Now, however, the Social Security system is facing serious financial problems, and action is needed soon to make sure the system will be sound when today’s younger workers are ready for retirement.

In 2016 we will begin paying more in benefits than we collect in taxes. Without changes, by 2037 the Social Security Trust Fund will be exhausted and there will be enough money to pay only about 76 cents for each dollar of scheduled benefits. We need to resolve these issues soon to make sure Social Security continues to provide a foundation of protection for future generations.

I’ve barely begun my career, but I already have earned well over half a million dollars. (College pays—if you study the hard sciences.) I don’t know exactly how much I’ve paid into Social Security, but 12.4% of my salary (half by me, half by my employer) accounts for roughly $80,000.

My retirement is well after the 2037 D-Day for Social Security. My money is not going to return to me in proportion of my donation.

Needless to say, I am pretty upset. I spent $80,000 on something that I will probably never see again. I should’ve kept the money for and put into a halfway decent investment. Or, I could’ve bought 2 mini vans with that money and had them paid off. Or, I wouldn’t be paying so much in house payments right now because my loan would be for $80,000 less than it is now.

For me, and pretty much everyone my age, Social Security isn’t. I don’t know how far up the spectrum the equation is negative for, but I know that my dad, who has just retired, freely admits he would’ve been better off not putting a dime into Social Security and keeping the money for himself. The pittance of a check he receives isn’t even enough to cover the house payment — a house he could have bought several times over had he simply kept the cash.

To me, Social Security is Bernie Madoff times a billion. Just because crooks wear suits and ties can go by the name of “Senator” doesn’t make them any less crooked. It doesn’t leave their victims feeling any better.

My vote is to abolish Social Security, the Bernie Madoff Generational Theft Act. We are, as a people, better off keeping our own money and choosing whether to spend, save, or invest it.

Instead, Social Security has been a major scam. The way it works is this. Each year, they draw in more cash than they pay out. Congress wastes that cash on their pet projects.  Then, when the chickens come home to roost, congress will have to defund some other budget item because they no longer can take cash from the Social Security system. And eventually, not even Social Security will pay for itself.

I wish I had something nicer to say about Medicare, but Medicare makes the Social Security scam seem like a white lie. The sums of money involved in Medicare are horrifying, and the policies that the executives of that system have inflicted upon patients and doctors alike are indescribable.

Unfortunately for the Greatest Generation, their folly in adopting pyramid schemes to bring about fascism in America is going to override their fighting prowess of World War II. Someday, some history book will be written describing these great heroes as idiots when it comes to self-governance.

Now, where is that check box where I opt-out of Social Security and forfeit all my benefits?

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