[quote=CA renter][quote=sdrealtor][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.[/quote]
Public employees and employers contribute far more than 15%.
Again, even the “employer” portion of the contribution is considered a part of their total compensation package, and the pay/benefits of public employees are looked at as a whole during negotiations. Public employees give up certain pay/benefits in exchange for other pay/benefits. The truth is that the entire contribution amount is 100% paid for by the employees as it is ALL considered together as part of their compensation package.[/quote]
I asked what the employee pays not what the employer pays. I have seen tax returns from several public employees and was appalled what they were paid. If you add what the “employers” paid to these compensation figures and show me the numbers I would probably get even sicker. I dont have the stomach to see those numbers.
FYI, tomorrow I am picking up tax returns from another public servant I am doing a short sale for. I hope I can stomach them.
