I am glad we read about social security. I had always known that most of the things the GOP and Fox News had said about it was just fear mongering. But I never truly understood how it worked. I had no idea my employer had to match my payment. And now that I have had some clerification I can finally shut up my friend Mitch when he always goes on rages about social security. I don’t think he even realizes that the 6.2% coming out of his paychecks, is helping keep his Grandparents stable, and then in turn his grandparents spoil him more. So Social Security actually benefits him right now. My only curiosity on it is, why couldn’t that 6.2% be put in a government savings bond for the specific person that put into the fund. Like if I made $100 a year, and the government took $6.20 of it every year, why couldn’t after working my life, I take the let’s say 50 years of money I put in back? I would have put $310 in total, why couldn’t my payment be that $310+interest.
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Stephen Shanahan
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Sam Tran is discussing.
Sam Tran 7:28 pm on April 4, 2016 Permalink | Log in to Reply
I maybe a little confused about your question in the end there. But the reason we can’t just have an individual bank is because social security is not just for those that have retired, it is also for those that have disabilities that make them unable to work. So say someone becomes disabled at 35 and has been working since 18 they are only going to have payed in to the system for a very short amount of time compared to what they are going to take from it. Or take my own brother for example. He is disabled, and special needs, my brother would never be a productive member of society at least not to a degree at which he can support himself. He has been getting SSI since he was a child when my mom had to quit her job to care for him and he has never payed into the system.
Sam Tran 7:30 pm on April 4, 2016 Permalink | Log in to Reply
I meant individual bond not bank