Quote:
Originally Posted by davem4616
"...after about 5 years" is not true...first that calculation doesn't factor in the impact of compounding interest on the monies that you actually paid in over a 40 - 50 year period of of continuous contributions...which is what most of us in TV have done
secondly, receiving more than what you paid in is no more of a handout than a monthly Annuity payment is once you've received more in payments than you paid in to fund it... lifetime payments was the contractual deal that was promised and agreed to.
at least with an annuity we had a choice to buy in...there was no choice with Society Security
|
No private insurance company would agree to a contractual deal where the benefits greatly outweigh the premiums. Over an average lifetime, one will receive much more in Social Security and Medicare benefits than is ever paid in; this a cold, hard fact.
For a group that likes to rail against socialism, benefits for the poor, welfare "queens", etc., nobody suckles more at the government teat than entitled villagers.