The reality is boomers ( the ones i cross paths with, parents included) have a sense of entitlement as bad as any lifelong welfare recepiant. Everyone else be damned, they want their check SS check. Disregard the fact that future generations will have to face the debt legacy they leave behind due to their lack of prudence.
You do know that only a few years worth of the oldest boomers have even started to collect SS. Don't forget that when we started paying in to SS minimum wage was only $8-10 a day. Today minimum wage is that much an hour, so figure inflation into the scenario as well.
You should realize that us boomers gave the world the greatest advancement in technology and living standards ever seen. It just so happens that we were here at the right time and right place.
SS is not an entitlement, we paid into an insurance policy and now it is time to collect. If you paid an insurance policy for 50 years you would demand your rightful benefits as well.
LIVE WITH IT,,,,, or fix it.
This is from an e-mail that came around to me recently.
THINK ABOUT THIS AND LET IT SINK IN
OUR WASHINGTON TRIPE AT WORK?
KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS READ IT.....
SOMETHING TO THINK ABOUT
THE ONLY THING WRONG WITH THIS CALCULATION IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY COLLECTED THEIR SOCIAL SECURITY!!!! WHERE DID THAT MONEY GO?????????????
This was sent to me, I am forwarding it because it does touch a nerve in me.
This is another example of what Rick Perry called "TREASON in high places" !!! Get angry and pass this on!
Remember, not only did you 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.
If you calculate the future value of $4,500 per year (yours & 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'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 Madhoff ever had.
Entitlement my butt. I paid cash for my social security insurance!!!! Just because they borrowed the money, doesn't make my benefits some kind of charity or handout!!
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 entitlements?
We're "broke" and can't help our own Seniors, Veterans, Orphans & Homeless. We have provided aid to Haiti , Chile , and Turkey . And now Pakistan .....home of bin Laden. Literally, BILLIONS of DOLLARS!!!
Our retired seniors living on a 'fixed income' 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 is running out of money. Why did the government borrow from it in the first place? Imagine if the*GOVERNMENT* gave 'US' the same support they give to other countries.
Sad isn't it?