One of my readers sent me their thoughts about our current economic situation. I thought it was worth sharing so I hope you find it thought provoking.
Something to think about! Not only did you contribute to Social Security but your employer did too. The money totaled up to 15% of your income before taxes!
If your income averaged only $30K during your working life you paid close to $220,500. If you calculate the future value of $4,500 per year (yours and your employer's contribution) at a simple 5% (less than what the govt. pays on the money that it borrows), after 49 years of working you should have $892,919.98.
If you took out only 3% per year, you receive $26,787.60 per year and it would last better than 30 years, 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 Madhoff ever had.
I didn't try to clean up the language in this message. It makes a better impact as it is.
Entitlement my ass!! I paid cash for my social security insurance!!!!
Just because the government borrowed the money, doesn't make my benefits some kind of charity or a handout !!
Congress benefits! They get 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 retirement entitlements !!!!!!.....scroll down..............
What the HELL is wrong??? WAKE UP AMERICA !!!!
Tuesday's Daily Bulletin paper, ran two articles on the front page side by side :
1- Calif 's 20 Billion Dollar Budget Deficit
2- The Calif Supreme Court ruling that ILLEGAL IMMIGRANTS can attend college and get benefits. Why don't they just deport them when they arrive to register?
3- Last year they ran an article on the yearly costs to Calif Taxpayers from Illegals using Hospital Emergency Rooms for their general health care –At just one hospital the cost to tax payers totaled over 25 million a year
Someone please tell me what the HELL's wrong with all the people that run this country!!!!!!
We're "broke" & can't help our own Seniors, Veterans, Orphans, Homeless etc
In the last months we have provided aid to Haiti , Chile , and Turkey . And now Pakistan ......home of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors are living on a 'fixed income' and receive no aid nor do they get any breaks while our government and religious organizations pour Hundreds of Billions of $$$$$$'s and Tons of Food to Foreign Countries!
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 says it is running out of money. Why did the government borrow the money in the first place?
We have hundreds of adoptable children who are shoved aside to make room for the adoption of foreign orphans!
AMERICA: a country where we have homeless without shelter, children going to bed hungry, elderly going without 'needed' meds, and mentally ill without treatment -etc. Etc.
YET.....................
The Liberals have a 'Benefit' for the people of Haiti on 12 TV stations, ships and planes lining up with food, water, tents clothes, bedding, doctors and medical supplies.
Imagine if the *GOVERNMENT* gave 'US' the same support they give to other countries.
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