This is very interesting and something that even those of us not collecting now should
look at seriously.
Since many of us have paid into FICA for years, and are now receiving a Social
Security check every month -- and then finding that we are getting taxed on 85% of
the money we paid to the federal government to put away, you may be interested in
the following:
Immigrants moved into this country and at 65 got Social Security. The
Government gave that to them although they never paid a dime into it.
SOCIAL SECURITY: (This is worth the read. Its short and to the point.)
Perhaps we are asking the wrong questions during election years. Our
Senators and Congress men and women do not pay into Social Security
and, of course, they do not collect from it.
You see, Social Security benefits were not suitable for persons of their
rare elevation in society. They felt they should have a special plan for themselves..
So, many years ago they voted in their own benefit plan.
In more recent years, no congressperson has felt the need to change it.
After all, it is a great plan.
For all practical purposes their plan works like this,
When they retire, they continue to draw the same pay until they die, except it may increase from time to time for cost of
living adjustments.
For example:
Former Senator Byrd and Congressman White and their wives may expect to draw
$7,800,000.00 ( That's Seven Million, Eight-Hundred, Thousand Dollars), with their
wives drawing $275,000.00 during the last years of their lives.This is calculated on an
average life span for each. Their cost for this excellent plan is
$00.00. Nada! Zilch! This little perk they voted for themselves is free to them. You and I pick up the tab for
this plan. The funds for this fine retirement plan come directly from the General
Funds, our tax dollars at work!
From our own Social Security Plan, which you and I pay (or have paid) into every
payday until we retire (which amount is matched by our employer) we can expect to
get an average $1,000 per month after retirement. Or, in other words, we would have
to collect our average of $1, 000 monthly benefits for 68 years and one (1) month to
equal Senator Bill Bradley's benefits! Social Security could be very good if only one
small change were made.
That change would be to jerk the Golden Fleece Retirement Plan from under the
Senators and Congressmen. Put them into the Social Security plan with the rest of
us .... then sit back and watch how fast they would fix it.
If enough people receive this, maybe a seed of awareness will be planted and maybe
good changes will evolve.
PLEASE! PASS THIS ON! 2004 ELECTION ISSUE
This must be an issue in 04.
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