Half of the people that paid into SS didn’t live to be sixty, let alone make it to sixty-five. Life expectancy in 1935, when social security started was 59.9,for men and 59.7, for woman.
It looks to me, with the exception of people like Ida May Fuller, the first social security recipient, who paid in $24.75, retired in 1939, lived to be 100 years, retired in 1975, and collected $22,888.92 in SS benefits. She sure jumped on a gravy train, almost as good a return as today’s banksters.
But that wasn't what happened for the majority of people. Most worked their ass off in, polluted, unsafe, factories, worked six days a week, many as young as fifteen,punched a time-clock for forty years then died.
Looks to me once Social Security got rolling it was an INVERSE PONZI SCHEME.Looks like they worked in winger utopia eh?
Last edited by Donc; 09-10-11 at 07:15 PM.
The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say