From: utzoo!decvax!decwrl!amd70!eager
Newsgroups: net.misc
Title: Social Security
Article-I.D.: amd70.1372
Posted: Thu Feb  3 18:46:19 1983
Received: Sun Feb  6 09:15:18 1983


There are some interesting features of the Social Security System:

	1.  Only earned income is taxed.  If you receive your income from
	    investments or anuities, there is no tax.  This is mostly of
	    benefit to the upper classes.

	2.  There is no trust, although there is a Soc. Sec. Trust fund.
	    No investment is done, all income goes to the Treasury and all
	    expenses are paid by the Treasury.

	3.  Soc. Sec. System tries to keep people out of the work force by
	    offering benefits at 65, and further by decreasing benefits 
	    dollar-for-dollar to offset earned income.

	4.  SSS is paid for by the middle classes.  With the top limit of
	    earned income somewhere about $30,000, the wealthy pay a small
	    percentage of income compared with the average wage-earner.

	5.  If I could invest 13% of my salary in a real investment, I would
	    be well prepared for retirement.  This is the amount the Feds
	    take (6.5+% from my paycheck, 6.5+% from my employer).  Just 
	    figure up what $4000 per year at 10% interest gets you after 
	    40 years!

	6.  Welfare is of benefit to the society as a whole.  SSS as a
	    retirement system (which it was never intended to be) is a
	    cruel joke on the people who expect it to support them in their
	    retirement and even crueler to those who will bear the burden
	    of this fiscally mismanaged system.

					-- Mike Eager @ amd70