Senior Sensation Whore

Are you one of those Seniors who is always bitching when Congress threatens to curtail Social Security (SS) benefits? As TAW would have it, you could be one of those Seniors who have outlived your SS benefits. So before getting too pissed off consider two things:

  1. What is the amount you contributed into the system, along with the roughly 2% earnings, annually on your money?
  2. How much have you received in benefits-and if you’re reading this, your future payments from the US Treasury?

Most people have received three times in benefits versus their contributions. Yes seniors, as being part of TAW regime want more. This is where most people are completely misled by Capitalism. It does not produce sufficient assets for the US standard of living. For each excess dollar received you have crossed the line from Capitalism into Socialism, yet most of TAW shall refuse to recognize this.

Now, do not stamp your feet and say, “I put into the system, so it is my money”. That is total BS. Consider this www.ssa.gov/OACT/STATS/table4a3.html on the SS revenues, expenditures and reserves. At the end of 2021 there was only about 2.5 years of funds left. So, all the Seniors getting benefits are in deep trouble. Now, the reality is they do not have to die in the next 2.5 years because our SS system is a farce created by Congress. The people now working are putting money into the system, so our Seniors do not become impoverished. But the reality of TAW is that most Seniors prior to 2022 have been well paid more than they contributed (unless of course they all do die in the next 2.5 years).

The 2.5 years of funds left is a far cry from the real destitute years of 1972 through 1990 where less than one year of funds were on hand at each year end. But the 2.5 years of funds is about 33% less than on hand at the end of 2008.

A normal funded retirement system does not rely on current workers to fund the retired workers. Essentially, if any private union retirement system had numbers like this, the trustees of that system would all be fined by the U.S. Government for not properly funding the private retirement system. Yet the ones in charge of the SS System (Congress) simply heeded to the decades of The American Whores who wanted embellished SS benefits, at the expense of others.

You may also want to read the below article:

https://www.politifact.com/article/2013/feb/01/medicare-and-social-security-what-you-paid-what-yo/