UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next
Author: BuildMWell Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76080  
Subject: Re: Social Security Tax Date: 8/27/2003 5:01 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
"I agree. I hate to see my SS money going into a endless pit that I may never see again." - David

But, have you done the math yet to check out what I have suggested? If I am right, once you retire, you can trade dollars with Uncle Sam and come close to breaking even each year. Meanwhile, you will not be a burden to Uncle Sam because the government will actually pick up a few bucks from you each year to pay for the slackers that you are also paying for today. But, if enough folks are like you and me, Social Security will be solvent forever. Everyone will just end up paying themselves!

The real questions are, "Why waste the effort sending the money to Washington in the first place? Why not just leave Washington out of the whole thing?"

Let me tell you what brought me to do the math for myself. I was talking to elderly lady number two and I was joking around. I said, "I have been doing your taxes for eight years and I just noticed something. You send almost precisely the same amount of bucks to Washington each year as they send back to you in Social Security payments. It is a wash. Why don't we write to them and just ask them to ignore you. Thus, you agree to pay no more income taxes while they agree to send you no Social Security. Think of the postage savings?"

If you work real hard and build yourself a fine personal retirement program, maybe you can make them the same deal. Of course, every dime you have paid in over your career is lost forever. Once enough of us do the math, maybe we can get the system changed so we can stop sending our money to Washington in the first place.




Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Macro Economics

Ringing the NASDAQ Bell
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement