Talk of The Villages Florida - View Single Post - What is a 'fair share'?
Thread: What is a 'fair share'?
View Single Post
 
Old 03-10-2024, 08:45 AM
Haggar Haggar is offline
Senior Member
Join Date: Mar 2020
Posts: 232
Thanks: 1
Thanked 177 Times in 96 Posts
Default
Quote:
Originally Posted by villager7591 View Post
Disagree. SS is a personal savings account for each individual paying into it. Signed into law in 1935, shortly after The Great Depression, our Gov't. assumed that citizens were too stupid to save 'for retirement,' so it created SS. If I live long enough, I will get about 1% on MY money.
SS is MY money, not an entitlement.
SSA is not a personal savings account. You're not getting back the money you put into it plus an earnings percentage. You're getting back money based on what current workers are putting it.

I've seen an annual rate of return on contributions from 2.4% to 5.7%. Earners with low income get a better return. High earners get a lower return. People who die early don't do well. But live to 102 and the return is wonderful.
__________________
Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passions, they cannot alter the state of facts and evidence. John Adams