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Archived on: 2/17/2019 10:00:00 AM
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[–] 15109196? 1 point -1 points 0 points (+0|-1) ago
I am a boomer. I just retired last year and for over 45 years, I dumped (and my employer) over 150k into the social security system. I will get it all back after 110 monthly payments.
[–] 15110455? [S] 1 point -1 points 0 points (+0|-1) ago (edited ago)
At the bottom of my Social Security statements it says: "Please note: At current funding levels you will only receive 80 cents for every dollar indicated here." By the time I actually go to retire I expect that number to be $0. Because there won't be any more money in the Social Security system. It will all go to pay for the Boomers retiring now. So, be happy that you get the last of the money. They tell you it's a "lockbox" that safely stores your money. But, guess what? The Government has been spending that money. It's a Ponzi scheme propped up by people paying into the system currently.
[–] 15115445? 1 point -1 points 0 points (+0|-1) ago
Yes they have been spending and it's a ponzi scheme. But it's a system that I had to buy into if I collected a wage from a company. Other than putting money into another scheme (401k etc) There is not too many other choices. It's a system that has been in place long before I was born.