AS someone who has paid into Social Security since I was 16 years old, allow me to state that I greatly resent your clever asshole Republican plan to deprive me of the benefits that I was promised as well as all the money that I have contributed over the past 49 years. Not me, nor anyone, was given the option of selecting to contribute this money to any alternative plan.
When I retire, Social Security will pay me about $1300 per month, which is $15,600 per year.
If I could actually realize a return of 10% on my money, this would require me to have a net investment of $156,000. But this would be probably about twice what the average bank or insurance would pay, so I would need double that, or $312,000 to produce the same $1300 per month, and it is almost a certainty that there is NO bank or insurance company that would have guaranteed me even a 5% return since 1958. To date, I have contributed roughly $65,000 to Social Security.
My own actual investments have done far better than this, but this has entailed me taking a much greater risk than what I would say a prudent investor would normally take, and with absolutely no guarantees. I also have what I consider to be a much better knowledge of how investments work than the average consumer. The chances are that if all of everyone's SS money had been invested in the stock market rather than SS, the potential returns would be a lot smaller.
It is also quite likely that the government would never have been able to piss away such huge amounts on dumbass wars like Vietnam and Iraq, or on idiotic weapons projects such as Star Wars. But they would certainly have tried.
The worst enemies of the Social Security fund have been thus far Juniorbush and Reagan. Some of the Democrats have been more irresponsible than others, notably Lyndon Johnson.
It would not be possible for the average American to have invested as much as I have without causing serious problems for the economy. I have never bought a new car, house, refrigerator, or stove. I never buy anything in malls, and try to find good used items whenever possible, including clothing. I live in Miami, yet I use only one AC in my house, in a small bedroom. Lately, I fuel my ancient Diesel cars with biodiesel, so I am not benefitting Exxonmobil, Hugo Chavez or the Shieks of Araby.
If everyone lived as I do, the economy would be far smaller than it is.
I would not lament the assassination of any president that decided to deprive me and others of the Social Security benefits we have paid for. I would not bet on the life expectancy of such a vile scumbag, either.
