Quote:
Originally Posted by evil homer
this is incorrect. most people get far more out of the social security system than they ever put in. the money you contribute today is used to pay benefits for people receiving them now. it is not held aside in your name for when you retire.
example would be someone who starts collecting at age 65 a benefit of $1,000 a month ($12K per year. let's say they live to 85, so 20 years x $12K per year = $240K that they receive from the system. over that person's lifetime, they would have contributed far less than $240K to the system through payroll deductions.
|
What you're saying doesn't contradict what I'm saying, I don't believe. You get more than you put in, but in relation to someone that worked the same years you did, but paid more/less into the system, I believe it is proportionate, is it not? If Person A works from 20-65 and contributes $250k, and Person B works from 20-65 and contributes $500k (we're assuming they are the exact same age),t hen person B would receive a propportionately larger amount in retirement, would they not? (Let's also assume they both live to the age of 85).