Power of Story Send a Tweet        
- Advertisement -

Share on Google Plus Share on Twitter 2 Share on Facebook 6 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 4 (12 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   8 comments, 2 series
OpEdNews Op Eds

Social Security? call it what it is: Our Earned Retirement Income.

By   Follow Me on Twitter     Message Susan Lee Schwartz     Permalink

Related Topic(s): ; ; , Add Tags  Add to My Group(s)

Must Read 3   Well Said 2   Supported 2  
View Ratings | Rate It

opednews.com Headlined to H3 2/18/13

Author 40790
- Advertisement -
An internet email that is making the rounds actually has some interesting FACTS.
The government is now referring to our
Social Security checks as a  Federal Benefit
Payment. This isn't a benefit, its earned
income! Not  only did we all contribute to
- Advertisement -
Social Security but our employers did too.
It totaled 15% of our income before taxes.
- Advertisement -
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 yours and your employers contributions)
- Advertisement -
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
(Google it - it's a fact).
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. They took our money and
used it elsewhere. They forgot that it was
OUR money they were taking. They didn't
have a referendum to ask us if we wanted to
lend the money to them.
And they didn't pay interest on the debt they assumed. And recently, they've told us
that the money won't support us for very
much longer. But is it our fault they
misused our investments?
And now, to add insult to injury, they're
calling it a benefit, as if we never worked to
earn every penny of it. Just because they
borrowed the money, doesn't mean that
our investments were a charity! Let's take
a stand.
We have earned our right to Social Security
and Medicare. Demand that
our legislators bring some sense into our government
Then call it what it is: Our Earned Retirement Income.


- Advertisement -

Must Read 3   Well Said 2   Supported 2  
View Ratings | Rate It


I began teaching in 1963,; Ba and BS in Education -Brooklyn College. I have the equivalent of 2 additional Master's, mainly in Literacy Studies and Graphic Design. I was the only seventh grade teacher of English from 1990 -1999 at East Side (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

"BAMBOOZLE THEM" where teacher evaluation is the key to reform

LEARN WHAT IS A CURRICULUM, even AS NY Times Opinion Piece Lauds Common Core

Social Security? call it what it is: Our Earned Retirement Income.

Magic Elixir: No Evidence required!

Learning not Teacher evaluation should be the emphasis of media

(4) RUSSIA TIES: A Randy Rainbow Song Parody (from GREASE!)🎶 - YouTube