What they won't tell you about Social Security...

Discussion in 'Economics' started by chaosclarity, Sep 9, 2011.

  1. http://www.ssa.gov/policy/docs/statcomps/supplement/2010/5a.html#table5.a4

    - Social Security is NOT an investment fund. It is a "pay as you go program" where today's workers pay the benefits of past workers. It has similarities to a Ponzi scheme. I tend to lean towards the concept that it is a Ponzi scheme where today's investors are paying off past investors.

    - There are approximately 307 million people who are in the United States. 52 million people collect Social Security at an average payment of about $1100 per month.

    - The workforce comprises 140 million people with a median income of $32000 per year. The payroll tax for social security is generally 12% combined employee/employer I believe.

    Lets stop to think about this for a second. On ET, you constantly have everyone discussing big money trades. However, in the real world about 1 in 6 people live off of about $1100 a month in abject poverty in the United States. That $1100 is what decides elections and gets people so riled up.

    Looking at the numbers, folks, I am not proud and hopefully I will never be in a position where I have to live on $1100 a month. I love to work, I love to think and I love to do...I would certainly not love sitting at the mailbox waiting for my $1100 check. I wouldnt be proud of that...
  2. emg


    who cares. just pay your ss and move on.
  3. I try to avoid my SS through my tax avoidance strategy...
  4. emg


    u ever thought that mcdonald pays more than small traders? The reason is:


    according to the article:

    Because small traders lose 75% on qtr basis, the annual is 98%. That means, of the total 615,000 accounts, 605,000 accounts lose annual basis

    More than 90% of small traders lose. They just lose!!
  5. the world is a ponzi scheme, why pick on SS ?