How Much Would You Pay Into a Bogus Retirement Program?

Retirement

If you were born after 1966, you’ve been paying into one your entire life

If you were born in 1966, you hit the sweet spot because you will reach your full retirement age of sixty-seven in 2033, the year the Social Security Trust Fund is supposed to run out of funds.

If you are lucky enough to be born in 1966, you will have contributed 12.4 percent of your income for your entire adult working life into a program that Congress seems unwilling to save. Six-point two percent is deducted from your wages, and another six-point two percent is contributed on your behalf by your employer. That employer contribution could be paid directly to you. Instead, it is paid into the soon-to-be-defunct Social Security program.

As a current retiree, I appreciate your contribution to my retirement. You must understand that Social Security is a pay-as-you-go program, and you are funding my retirement with money that you should set aside for your retirement.

Twelve point four percent of your salary is hijacked to fund a program for current retirees while Congress all but promises the program will go belly-up by the time you need it.

Why is the theft of 12.4 percent of your earnings not worthy of protest?

Why are people born after 1966 not screaming their bloody heads off at the injustice of such a program? Instead, you sit idly by while a bunch of old men in Congress guarantees that you might as well be burning 12.4 percent of your income because the money will never benefit your retirement.

The future of Social Security rests in the hands of our very old and very wealthy representatives. Most of the people in Congress today will not be alive to witness the destruction of a venerable program that has served generations of Americans for decades. Nor do they rely on the Social Security program for their security — they have made up their own lavish retirement program, and they dare to ignore yours.

In the past, retirement rested on three pillars, Social Security, a private pension provided by your employer, and your personal savings. In 1970 forty-five percent of all workers were…

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