Originally posted by SpeedoGuy+Feb 8 2005, 09:45 PM--><div class='quotetop'>QUOTE(SpeedoGuy @ Feb 8 2005, 09:45 PM)</div><div class='quotemain'><!--QuoteBegin-Pecker@Feb 8 2005, 03:09 PM
Um... deserve money from the government?
[post=281091]Quoted post[/post]
Well, I think we deserve to get back from Social Security at least what we put into it.
SG
[post=281280]Quoted post[/post]
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now- see- there's the problem debating social security... what you put into it goes (or went) to your Parents! What's due to come to you will come from your kids (or their generation).
why is it so few people Get this Simple concept?
The projected shortfall was being funded by excess contributions that bought OOODLES of US gov't bonds... that were redeemed to distribute the Bush tax cut to the rich. This was engineered in the late '70's by Sen. Patrick Moynahan with the help of responsible Republicans (a truly rare breed, these days)
So, does that $400 tax cut make you feel good NOW? You (American Public) traded a sound Social Security for $400 per year... and a widening weath-gap.
So, your kids will pay both Your social security AND the tax/inflation burden of 100 trillion in tax cuts over the next decade- All at the SAME time!
And if you add up ALL the FICA deductions taken from you all your life... invest it well, and take it back, you'll find NO compensation for inflation, and still generally more available to you after retirement than that investment would have made.
Bush has four years (too many) to do his last damage... the consequences of LEAVING things this way may well be unrest like we never foresaw.