Breaking News

Toronto Load More

OntarioLoad More

CanadaLoad More



Friday, May 10, 2013

THE FOLKS IN WASHINGTON AND OTTAWA HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.



Who died before they collected Social Security?




KEEP PASSING THIS AROUND UNTIL EVERY ONE HAS HAD THE OPPORTUNITY TO READ IT... THIS IS SURE SOMETHING TO THINK ABOUT!!!! THE ONLY THING  WRONG WITH THE GOVERNMENT'S CALCULATION OF AVAILABLE SOCIAL SECURITY IS THEY FORGOT TO FIGURE IN THE PEOPLE WHO DIED BEFORE THEY EVER COLLECTED A SOCIAL SECURITY CHECK!!! WHERE DID THAT MONEY GO?

Remember, not only did you and I contribute to Social Security but your employer did, too.  It totaled 15% of our income before taxes. If you averaged only $30K over your working life, that's close to $220,500.  Read that again. Did you see where the Government paid inone single penny ? We are talking about the moneyyou and your employer put in a Government bank to insure you and I that we would have a retirement check from the money we put in, not the Government.  Now they are calling the money we put in an entitlement when we reach the age  to take it back. If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5% interest (less than what the Government 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. Another thing - if someone died in their 50's or before, they never withdrew one cent of their social security money that they paid into all their lives - so that money just went up in smoke?

THE FOLKS IN WASHINGTON AND OTTAWA HAVE PULLED OFF A BIGGER PONZI SCHEME THAN BERNIE MADOFF EVER DID.

Entitlement my foot, I paid cash for my social security insurance! Just because they borrowed the money for other government spending, doesn't make my benefits some kind of charity or handout!! Remember 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 payments entitlements? We'r "broke" and we can't help our own Seniors, Veterans, Orphans, or Homeless.  Yet in the last few months we have provided aid to Haiti , Chile , Turkey , Egypt and Pakistan .   And they can't help our own citizens . 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 its time forus to collect, the government is running out of money.  Why did the government borrow from it in the first place? It was never supposed to be part of the general fund.

Sad isn't it. 99% of people won't have the guts to forward this. I'm in the 1% -- I just did .
Share This
Blogger
Facebook
Disqus

comments powered by Disqus

No comments:

Post a Comment

Subscribe
Stay Connected
Featured

Enter your email address:

Delivered by FeedBurner

© The Toronto Post All rights reserved