Will You Get Back Your Social Security Taxes in Retirement?

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We have plenty of money in the fund. Obama just cut payments into Social Security. CWH

Charles of FL 2:12PM January 18, 2011

When this was started and if the Government had not borrowed from Social Security and Medicare all would be fine. Do you realize where the real problem lays, Federal Employees, they work, they retire, their benefits remain the same just like Congress. We also allow Federal Employees to collect their retirement and go back to work as Contract employees making more than they did when they worked.

Julie of DC 12:13PM January 18, 2011

Apparently we are all supposed to be so stupid that we don't get to calculate interest on our lifetime investments into SS and Medicare. If only a modest rate of interest were accrued over the 40 years of work and the 20 years of payouts, we would be far, far underpaid, not overpaid.

William G. Barbour of NC 9:27AM January 18, 2011

It is time for everyone to awake and see the roses. Get rid of money all together and everyone can work for free? NO! they will work and receive all that is needed in every respect that one has needs. Food, Clothing, Medical, Homes, Fun all paid for just because they work or worked.
Clean up the earth as a unified global work force.
Poverty nations taught to take care of the self for everyone of that nation/country.
Medical problems disappear when good health is not on a pay basis.
If all can get just for working: robbers will disappear/deaths will be reduced immediately and jails will be reduced permanently as time goes by.
Avonael's vision of your future is yours to attend to: keep it as is and loose status as a strong nation or begin a new world of NO MONEY god and become the nation under GOD for the planet.

Avonael of Alpha & Omega of MI 9:20AM January 18, 2011

Social security taxes are not 7.65% - that's what the individual pays. Remember the employer pays this too. If the employer wasn't paying the tax the amount could go to increased wages. Please update your estimates for the true tax rate.

montego of IL 12:42PM January 11, 2011

FYI folks you can opt out of SS. It is a pain with forms etc but it is legal and do able.. G/L

judge of AZ 10:10PM January 07, 2011

And at 55, I echo Jeff of MN. Even in my 20s I suspected that SS was a pipe dream, and the reality is that you should never count on the government for your retirement. Look at SS as an additional tax, one that benefits current recipients only. Load up on your savings by taking 10% off the top of each paycheck and putting it aside, every single pay-period, invest in yourself.
I never anticipated drawing a dime from the ridiculous amount of money that I have paid in.
Let the bureacrats have it. I don't plan on begging them to send me a check when I hit 65. Don't ever trust a government employee whose sole stated purpose is to "help" you.

Scott of TX 6:19PM January 07, 2011

When Social Security reform legislation was signed in 1983, the contract between the people and their government changed forever. The plan that was suppose to fix the retirement program for 75 years, has practically destroyed the program in less s than 30 years. 78 million baby boomers are beginning to retire, the US economy is on life support, and Social Security is paying out more than it’s taking in; politicians have learned nothing. Just as in 1983 they’re having the wrong conversation about Social Security. It shouldn’t be about raising the retirement age for current workers. or lowering retirement benefits on those who’ve already sacrificed once by overpaying their Social Security taxes. It should be about those who’ve reneged, and benefitted from the political pilfering of the Social Security trust fund retirement dollars; 2.54 trillion dollars worth. Millions of middle class working Americans have made their investment, now It’s time for the other party to invest in them by restoring the Social Security trust fund retirement dollars; 2.54 trillion dollars. The people have kept their end of the deal, now it's time for politicians to “MAN UP by LIVING UP” and keep their end of the deal.
We’re drawing a line in the sand, not for the purpose of starting the negotiation, but for the purpose of letting politicians know where the people’s line is, and using Social Security to create another dollar of new debt on our children and grandchildren is crossing the line, and crossing the line will get you FIRED.
The People's Case: http://sobreport.com/?p=66 The People's Plan: http://sobreport.com/?p=70

pappyg of FL 5:02PM January 07, 2011

I am 27 and can almost guarantee that I will never see a dime of the money that I pay into social security. That money will be long gone far before I ever reach retirement age. That is why I don’t count that money towards what I will need to retire and I hope others my age will do the same for their sake.

Jeff of MN 7:21PM January 06, 2011