There is "Perception" and then there is FACT!
Perception and FACT
Why MIGHT you believe that the AARP is AGAINST Social Security reform?
The AARP Declares War on Younger Americans
What about the argument that Social Security is not meant to be for
retirement and is an "insurance" plan?
FICA is an acronym that means "Federal Insurance Contributions Act".
The name is deceptive on two MAJOR counts:
1) FICA taxes are not for "insurance"
2) There is NO CHOICE to "contribute". The government WITHHOLDS the Social Security "contributions" right
out of each and every one of OUR paychecks.
If 6.2% of your $40,000 salary is $2,480 per year and your employer matches the 6.2% (which really comes
out of YOUR salary and is counted as a "benefit" which you have NO CONTROL over...) of your salary for
another $2,480 per year; this means that if YOU earn $40,000 per year, you are
paying $4,960 per year for an "insurance" policy that returns a $1,000 or so
dollars per month after you turn 65 or 67...
VERY EXPENSIVE "INSURANCE", DON'T YOU THINK???
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