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Thursday, July 31, 2014

Social Security reality..." Robert Bitos Gandia (Source)


 Guest-blogger,Robert Bitos Gandia.
Robert is an avid cook (ono gandule rice) and always laughing!!
He works at Syngenta as a Research Associate.
Robert lives in Kekaha on Kauai's west-side and loves football!!

Social Security reality

Prelude;
Who died before they collected Social Security? 
KEEP PASSING THIS AROUND UNTIL 
EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT...
THIS IS SURE SOMETHING TO THINK ABOUT!!!!
THE ONLY THING WRONG WITH THE 
GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT 
TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!!
WHERE DID THAT MONEY GO?


Remember, not only did you and I contribute to Social Security but your employer did, too.
It totaled 15% of your income before taxes.
If you averaged only $30K over your working life, that's close to $220,500.
Read that again.
Did you see where the Government paid in one single penny?
We are talking about the money you and your employer put in a Government bank to insure you and 
Me that we would have a retirement check from the money we put in, not the Government.
Now they are calling the money we put in an entitlement when we reach the age to take it back.
If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the Government pays on the money that it borrows).
After 49 years of working you'd have $892,919.98. If you took out only 3% per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit!
If you bought an annuity and it paid 4% per year, you'd have a lifetime income of $2,976.40 per month.
THE FOLKS IN WASHINGTON 
HAVE PULLED OFF A BIGGER PONZI SCHEME
THAN BERNIE MADOFF EVER DID.
Entitlement my foot; I paid cash for my social security insurance!
Just because they borrowed the money for other government spending, doesn't make my benefits some 
Kind of charity or handout!!
Remember Congressional benefits?
· free healthcare,
· outrageous retirement packages,
· 67 paid holidays,
· three weeks paid vacation,
· unlimited paid sick days.
Now that's welfare, and they have the nerve to call my social security retirement payments entitlements?
They call Social Security and Medicare an entitlement even though most of us have been paying for 
It all our working lives, and now, when it's time for us to collect, the government is running out of money.
Why did the government borrow from it in the first place?
It was supposed to be in a locked box, not part of the general fund.
Sad isn't it?



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7 comments:

Rick Comstock said...

I have trouble with those numbers. I've paid the max in for 40 years, max meaning upper threshold which I think is $110,000.00 per year today. Even a gross income of $30K will only reward you 30% of maximum benefit at 65. And I also never heard of a 15% joint contribution rate....it's more like 5 or 6% combined (joint) contribution rate. Today I'm allowed $2,800.00 per month at 65..... If I die before I draw on my account it opts to survivor benefits. The SSI fund has trillions in it, any overages the government borrows....Thanks George Bush! ..... With a slight of hand the GOP (Ryan) sees that the government is required to repay their debt. So by making you believe you need to pay their debt and cut benefits and increase age / contributions.... If this was a Al Gore locked box the funds would be plentiful. But once again real facts and figures can be obtained by watching your own account (free) by registering for this annual report from the SSI administration.

Chester "Unc" Lau said...

The Concept of SS is good,you got taking care for living & health care when you paid in the system while in the work force,it's force saving where many people are lacking,for people who died before collecting,the benefits should go the the next of kin ,when the next of kin dies,the surplus goes back to SS to keep it sovereign only for the one who paid in the system ,no borrowing from government to wage wars or empire building !!!

Chester "Unc" Lau said...

added note: I would like the retirement benefits of Congressional war mongers,hello George W.Bush & Dick Cheney ,how is your retirement life counting your war profits in the golden palaces in the Middle East ?

Robert Bitos Gandia said...

Both demoncrats and repubicans created this mess.........

Chester "Unc" Lau said...

yes,throw the bums out vote fot Ron Paul.

Rick Comstock said...

We the people created this mess. Now "we the people" are fighting for a voice at the table. We the people need to come out of our rabbit holes and take back our democracy. All politics start local. Vote the old plantation people out. Corporations are not people but they will control the "Privatization of SSI" and taxes....what then?

Chester "Unc" Lau said...

Lets have more VOICE OF THE PEOPLE ON TV,MOVIES,RADIO INTERNET WITH LIMITED DONATION FOR ANY CANDIDATES $ 50.00 per person per year,no corporation allowed,heavy penalty for fixing or buying an election,let freedom ring for FREE PEOPLE !!!