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Re: CNN Poll: GOP would bear the brunt of shutdown blame [W:176]
People can easily live 25 to 30 years after retirement,
Contributions from 1970's were taken out at a rate of roughly 10% on max of $15,000 in income, roughly on average. That's $1500 per year like I said.
Social Security and Medicare Tax Rates, Calendar Years 1937 - 2009 | Tax Foundation
In the eighties it went up, quite a bit.
80's: $40K @ 14%, meaning an average of roughly $5.5K per year
90's: $65K @ 15%, average of $10K
Y2K's: $100K @ 15%, avg $15K
So, as you can clearly see, we who work today pay quite a bit to support those who retired years ago.
And when Medicare benefits are added to the mix, it's safe to say your retirement is being subsidized by roughly 10-20 times the amount you ever put into the system.
Engineering Graduate from Illinois, went to HS in Michigan and now financially contribute taxes to the great state of Ohio.You are incredibly naïve, gullible, or ignorant, maybe all three. Each of your posts gets absolutely dumber. You have no idea what you are talking about. Someone putting that same amount into a simple savings account would generate a lot more than that plus it would be your money when you retire or your family's if you should pass away. Someone with 361,000 in benefits at 1500 a month would take 12 years to get your money back and if you pass away during that period of time your spouse gets very little and none if you both collect SS.
You give the people of Ohio a bad name. I grew up in Ohio, graduated from an Ohio University, and I am embarrassed to read your posts. My wife worked, put money into SS, collected for one year, passed away and all the remainder of her money "contributed" goes to someone else, not her family. Only in the liberal world is that fair. Now stop making an ass out of yourself and the people of Ohio
People can easily live 25 to 30 years after retirement,
Contributions from 1970's were taken out at a rate of roughly 10% on max of $15,000 in income, roughly on average. That's $1500 per year like I said.
Social Security and Medicare Tax Rates, Calendar Years 1937 - 2009 | Tax Foundation
In the eighties it went up, quite a bit.
80's: $40K @ 14%, meaning an average of roughly $5.5K per year
90's: $65K @ 15%, average of $10K
Y2K's: $100K @ 15%, avg $15K
So, as you can clearly see, we who work today pay quite a bit to support those who retired years ago.
And when Medicare benefits are added to the mix, it's safe to say your retirement is being subsidized by roughly 10-20 times the amount you ever put into the system.