| Social Security: Social Security ? See how the government cheats the average American out of... |
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Scenario: Let?s say you begin working at the age of 25, and earn $40,000 a year. The government takes 12.4% of your income every year on social security alone. This is the actual percentage that they take. (Your employer will adjust your salary in order to cover his side of social security without spending additional money. The employer pays 6.2% for your social security and you pay 6.2% this will be explained below.) Let?s also assume you retire at age 65. That?s 40 years of contributing to social security. Let?s see how much you?ll get back in social security when you retire, and how much you'll get back if you invested the same 12.4% in the S&P 500 instead.
Social Security: *$696,699.17 S&P 500: $2,702,720.36
*The social security total is actually higher then it should be, because I used today?s social security yield, instead of the 50 year average, which is LOWER the today?s yield. See the beginning + rest http://thelibertarianforum.com… Read the full story |
