The previous post demonstrated that a husband and wife who never earned more than minimum wage could have amassed nearly one MILLION dollars in wealth if the Socialist “solution” (Social Security) had been replaced by a Privatized system.
Well, if they don’t have the money, where is it?
In their case, much of it was given to wealthier people. And in some cases FAR wealthier people. Multi-billionaires like Warren Buffet receive Social Security checks. The funds paying for Mr Buffet’s benefits is obtained from the pool of money confiscated from working people, like our minimum wage couple.
You see, Social Security is an “Entitlement”.
Sounds comforting, doesn’t it? YOU are “Entitled“!!!
But “Entitlement” means that EVERYONE receives the “benefit”. There is NO Means Test. Warren Buffet, by law, receives “his Entitlement”. To his credit, Mr Buffet donates any amounts he receives from Social Security to charity. But that does not answer the question, “Why is a multi-billionaire receiving ANY kind of government benefit check?”
In return for surrendering any and all claims to 14% of their gross earnings, our minimum wage couple will receive payments from the federal government until they die…….provided they meet the criteria of the federal government.
They can NOT choose when to retire. The government decides that.
They have NO input into their monthly benefit. Everything about calculating their “benefit” is dictated by the government.
They can NOT even work to augment their “monthly benefit” without government rules and restrictions applying, including the possibility of taxing their “benefits”!!
I’m waiting for anyone to explain to me how this is a good deal for the minimum wage couple.