That’s a hard pass for me. I’d rather opt out of social security. It’s a ponzi scam. If the government had put that into a private account, I’d have millions of dollars in there.
Econnomic leftis get a bad rep when it comes to economics. When I read garbage like this, I am reminded that this is just a lie.
When the first “real” argument is to think of the Government as a business, you miss the point entirely.
The Government is not a business. And that is a good thing.
Not sure I even want to read further in, because it is, like always, just down the hill from there.
No wonder all the posts are downvoted so much, when this is the best that is offered.
glimse@lemmy.world 5 months ago
I assumed you started working in 1977 for $120k/year (that’s $630k in today’s value btw) and retired today, contributing 6.2% monthly from the start and put it in a 6% monthly compounding savings account, you’d be just shy of millions ($1.9m).
I did not account for raises because if you’ve made over $7m in your lifetime, you don’t need the cash payout from social security anyway. It’s a safety net for people who can’t afford to save for retirement - and they’ve been paying into it their whole lives, too.
I’m not a fan of how social security has been handled (or that I’m not going to benefit as much as boomers have) but social security for everyone benefits the country.