Nearly every working American pays into the Social Security program, but not everyone understands the benefits they qualify for due to their contributions. And most workers will no longer get paper statements that explain how much they have paid into the system and what benefits they are likely to receive in retirement. Here are 10 things everyone should know about Social Security: You contribute 6.2 percent of your income. Workers pay 6.2 percent of their earnings into the Social Security system, up to $113,700 in 2013. Employers pay a matching 6.2 percent for each worker. Self-employed workers must
The money is stolen by congress and there is no lockbox, just worthless IOU´s!
There would be no issue if these were privately invested. Search on google about Galveston, TX that went private.
Other countries get great returns. In short you could be getting 3 times the money or more if it wasn´t for the criminals in congress who of course exempt themselves and give themselves very generous pensions after just 6 years.
Fact #11...SS was never intended to be your retirement. It was created as a supplement to the funds you had already set aside and as a way so that seniors wouldn´t starve. It´s basically a welfare program.
Government misinformation has led people to believe it´s a real retirement plan, causing them to undersave.
For those of us that understand Socialist Security(Ponzi scheme), this is more like 10 things everyone should know about their lottery winnings. One of us is going to be real lucky. The rest of us are out of luck and money.
When you are 65 the Medicare monthly premium deduction is taken off the top of your SS check. Since I was a homekeeper with four kids I didn´t receive a salary for my work and so now as a widow I get what my husband got. Since he was a farmer and didn´t always make much profit in those days he didn´t pay in much, so my SS check is about $530.
Another important fact left out: SS is already paying more out in benefits than it takes in with payroll taxes. Since it is a "pay as you go" scheme that means it is collapsing. There is no trust fund.
all you need to know is IT IS A PONZI SCHEME if it had invested your money everyone would retire a millionaire and the kids would inherit instead they steal your money and make it that much harder to save for retirement
Here is an additional bit of information. The congress established something called ´end points.´ (google for a full explanation.) Bend points are applied to the earnings record to overpay low wage earners at retirement, and to underpay high wage earners at retirement. So a mechanism already exists to expand means testing, and zeroing out high earners social security check. Who would complain? Just the ´rich´ people...
#5, that´s correct. But it´s pretty hard to put anything away when the government is taking 12.4 percent for social security, and about 50% for federal and state taxes, not to mention your property taxes, which in the case of most people around here come to about $12,000 for a tract house.
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New York — The anchor who might beat Bill O’Reilly gets her eyelash extensions applied one at a time, with tweezers and dabs of glue, about 90 minutes before showtime, right after a motorized gun sprays foundation over her face, neck, shoulders, collarbone and sternum, wiping out a galaxy of light freckles that spreads across her — Let me stop you right there. Photos of the day Uruguay legalizes marijuana, Kiev police pull back from protesters, aging U.S. prison population and more. Tuesday´s Photos of the day Would you write this way about a man? About O’Reilly himself? At least that’s what Megyn Kelly might ask at
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When I was a kid, I knew two different Santa Clauses. The first had a fat belly, rosy cheeks, a long white beard, and skin as pink as bubble gum. He was omnipresent, visiting my pre-school and the local mall, visible in all of my favorite Christmas specials. Then there was the Santa in my family’s household, in the form of ornaments, cards, and holiday figurines. A near-carbon copy of the first one—big belly, rosy cheeks, long white beard: check, check, check. But his skin was as dark as mine. Seeing two different Santas was bewildering. Eventually I asked my father what
Johannesburg - A man who provided sign language interpretation on stage for Nelson Mandela´s memorial service, attended by scores of heads of state, was a "fake," the national director of the Deaf Federation of South Africa said on Tuesday. Asked about the claim by The Associated Press, South Africa´s government said it was preparing a statement. Three sign language experts said the man was not signing in South African or American sign languages. South African sign language covers all of the country´s 11 official languages, according to the federation. It wasn´t immediately clear if the unidentified man was using a
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