Forwarded to me by friends. Merle
Subject: Social Security Have you noticed, the Social Security check is now referred to as a "Federal Benefit Payment"? I am forwarding it because it touches a nerve in me, and I hope it will in you. Please keep passing it on until everyone in our country has read it. The government is now referring to our Social Security checks as a Federal Benefit Payment. This isn't a benefit. It is earned income! Not only did we all contribute to Social Security but our employers did too. It totaled 15% of our income before taxes . If you averaged $30K per year over your working life, that's close to $180,000 Invested in Social Security . If you calculate the future value of your monthly investment in social security( $375/month, including both your and your employers contributions) at a meager 1% Interest rate compounded monthly, after 40 years of working you'd have more than $1.3+ million dollars saved! This is your personal investment . Upon retirement, if you took out only 3% per year, you'd receive $39,318 per year, or $3,277 per month . That's almost three times more than today's average Social Security benefit of $1,230 per month, according to the Social Security Administration (Google it - its a fact). And your retirement fund would last more than 33 years (until you're 98 if you retire at age 65)! I can only imagine how much better most average-income people could live in retirement if our government had just invested our money in low-risk interest-earning accounts . Instead, the folks in Washington pulled off a bigger Ponzi scheme than Bernie Madoff ever did. They took our money and used it elsewhere. They forgot (Knew) that it was OUR money they were taking. They didn't have a referendum to ask us if we wanted to lend the money to them . And they didn't pay interest on the debt they assumed . And recently,they've told us that the money won't support us for very much longer . But is it our fault they misused our investments? And now, to add insult to injury, they're calling it a benefit, as if we never worked to earn every penny of it. Demand that our legislators bring some sense into our government and find a way to keep Social Security going, for the good of all.. and then call it just what it is. â€œPersonal Earned Retirement Income.â€ If you agree forward.