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Subject: SOCIAL SECURITY REFORM Author: Richard Anderson [ Next Thread | Previous Thread | Next Message | Previous Message ] Date Posted: 19:24:53 02/06/05 Sun If a young person started to work today and earned $30,000 per year(in today's dollars)for 40 years he would pay $310 each month in social security taxes and $72.50 in medicare taxes. According to the Social Security Administration this person would be paid less than $1,000 per month in social security benefits at age 62. At 65 he would be eligible for Medicare at a rate of about $60 or $70 per month. Of course, he will have to supplement Medicare at about $200+ per month. When he dies, his family will get nothing. Had this young person had invested his social security deduction each month and earned on average 6%, he would have over $600,000 in 40 years. These savings would pay him $36,000 per year for the rest of his life, and when he did die, his family would receive the money. Had he invested his medicare taxes, he would have $140,000 after 40 years. This investment would produce $8,400 per year and when he died his family would get the money. Please give me one good reason this system should be saved. [ Next Thread | Previous Thread | Next Message | Previous Message ]

Replies:

Subject Author Date Re: SOCIAL SECURITY REFORM No name 12:48:19 02/07/05 Mon Re: SOCIAL SECURITY REFORM -- Richard Anderson, 14:04:46 02/07/05 Mon Re: SOCIAL SECURITY REFORM -- No name, 14:58:54 02/07/05 Mon Re: SOCIAL SECURITY REFORM -- Richard Anderson, 17:41:39 02/07/05 Mon Re: SOCIAL SECURITY REFORM -- No name, 02:16:45 02/08/05 Tue Re: SOCIAL SECURITY REFORM -- Richard Anderson, 10:54:12 02/08/05 Tue Re: SOCIAL SECURITY REFORM -- No name, 12:24:49 02/08/05 Tue Re: SOCIAL SECURITY REFORM -- Richard Anderson, 13:30:53 02/08/05 Tue Re: SOCIAL SECURITY REFORM -- No name, 01:28:36 02/09/05 Wed Re: SOCIAL SECURITY REFORM -- No name, 10:48:00 02/09/05 Wed Re: SOCIAL SECURITY REFORM Richard Anderson 10:11:15 02/09/05 Wed Re: SOCIAL SECURITY REFORM -- No name, 11:32:44 02/09/05 Wed Re: SOCIAL SECURITY REFORM -- Richard Anderson, 13:00:44 02/09/05 Wed Re: SOCIAL SECURITY REFORM -- No name, 22:24:01 02/09/05 Wed Re: SOCIAL SECURITY REFORM -- Richard Anderson, 22:51:34 02/09/05 Wed Re: SOCIAL SECURITY REFORM No name 11:00:05 02/09/05 Wed