https://x.com/michellemaxwell/status/1951822943446614464?s=12
Michelle Maxwell ™
@MichelleMaxwell
*** begin quote ***
A woman dies at age 65 before collecting one benefit check. She and her employer paid into the system for almost 50 years and she collected NOTHING. Keep in mind all the working people that die every year who were paying into the system and got nothing.
*** and ***
The government is now referring to our Social Security checks as a “Federal Benefit Payment.”
This is NOT a benefit. It is OUR money , paid out of our earned income! Not only did we all contribute to Social Security but our employers did too! It totaled 15% of our income before taxes. (This should be enough for you to forward this message, If not read on.)
If you averaged $30K per year over your working life, that’s close to $180,000 invested in Social Security.
If you calculate the future value of your monthly investment in social security ($375/month, including both you and your employers contributions) at a meager 1% interest rate compounded monthly, after 40 years of working you’d have more than $1.3+ million dollars saved.
This is your personal investment. Upon retirement, if you took out only 3% per year, you’d receive $39,318 per year, or $3,277 per month.
That’s almost three times more than today’s average Social Security benefit of $1,230 per month, according to the Social Security Administration.
And your retirement fund would last more than 33 years (until you’re 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts.
Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did (or Lyndon Johnson).
*** end quote ***
I love beating a “dead horse” or in this case the BIGEST Ponzi scheme. Makes Ponzi, Made-off, and every two-bit fraudster look like a chump in the comparison.
Social Security “Insurance” is just a racist inter-generational wealth transfer (Ponzi) scheme that transfers wealth from poor minority men to rich white women. Note that if it was a privately held investment account, then upon the early death of the exemplar poor minority man, his heirs would receive his estate. Building capital formation with his family heirs. It could be to fund buying a house, getting an education, or invest in some productive asset. Anything like a substantial estate of some number of millions could fund multiple priorities.
Anything would be better that allowing the Gooferment to waste the blood, sweat, and tears of the working class.
Argh!
— 30 —
Posted by reinkefj 
Reinke Faces Life 