Tuesday, July 28, 2015

Because it is making us all subservient to the government...

Ben Carson:
"You know Obamacare is really I think the worst thing that has happened in this nation since slavery," Carson, who is African American, said Friday in remarks at the Values Voter Summit in Washington. "And it is in a way, it is slavery in a way, because it is making all of us subservient to the government, and it was never about health care. It was about control."

Dr. Carson,
We are subservient to government when they take 3% of our pay from our employers and 3% of our pay from our paychecks and put them in a Social Security trust fund.

What I would do as President
End the Social Security Administration.  30 and under receive 90% of S.S. benefits that they paid in (lump-sum check).  30 and over receive 90% of S.S. benefits that they put in (lump-sum check). 
Instantaneous benefits for the Federal government: $12.3 billion saved in 2014 from the Federal Budget for running the Social Security administration. 
Benefits for the American people:

Few workers understand the tax burden of the Social Security system. On their paychecks, they see that 6.2 percent of their gross pay goes to pay for Social Security. What they don't see is that employers match this tax payment with an equal 6.2 percent payment. It may seem that employers are paying half of the Social Security taxes, but that's not the case. Even though the employers are legally liable for one-half of the tax, they shift the tax onto workers in the form of lower gross wages. Therefore, the Social Security tax burden, 12.4 percent of each worker's gross pay, falls on workers. Half of this burden is hidden from the workers.
As an example, suppose you make $40,000 a year (which is below the median income in America).  6.2% of your $40,000 salary is $2,480 per year and your employer matches the 6.2% (which really comes out of your salary and is counted as a "benefit") of your salary for another $2,480 per year.  This means that if YOU earn $40,000 per year, you and your employer are forcibly sending $4,960 per year to the government.  For someone making the median US income of $51,000 a year, that number balloons to $6,300 a year.

There are no deductions for the Social Security tax. All income is taxable income. Even those in the lowest income brackets have roughly one-eighth of their income taken from them to fund the Social Security system.  This is for an "insurance" policy that returns a $1,000 or so dollars per month after you turn 65 or 67. 


The government can CONTROL how much they want to provide to you every month when you retire.  You have no control over how much you get every month.  On top of this, the government controls how much your increase is every year due to inflation.  Since the government creates their own statistics for inflation (and since they grossly underestimate it), you are losing out.

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