[quote=CA renter][quote=sdrealtor]Ummm…SS is essntially an entitlement program. Last time I checked the max benefits were around 20K per year and to get that you as an individual fund much more than that to support those on the lower end of the wage scale. I dont see people collecting better than 60% of pre-retirement income on SS. I dont see deep 4 figure monthly checks coming out of SS either. Apples and oranges.[/quote]
That’s because SS is an **entitlement/insurance program** vs. deferred **compensation** that was earned.
Not only that, but public employees (especially the public employees who get the “generous” benefits everyone likes to whine about) and their employers contribute **far more** to their retirement plans than SS recipients and their employers do.[/quote]
I contribute about 15% of my gross income. What do public employees contribute. The problem with their “employers” contributing far more than SS recipients is exactly the problem. We the taxpayers are their employers so not only do we pay for our retirements via Social Security but we pay for theirs too via taxes.
I would gladly give up SS if I could self direct the money I contribute every year.
