Tuesday, July 19, 2011
Lately we have been hearing Social Security is a government entitlement program. Now that the Baby Boomers are hitting retirement the government won't have the cash to make good on the program and the program is not sustainable.
I have to admit, I am a more than a little bit confused about all the financial jargon floating around these days. However, I do remember "premiums" for Social Security were made palatable to all the workers of the country by telling us 50% is paid by the worker and 50% by the employer. Hogwash... it was all paid by forced withholding of nearly 15% of a workers income for the duration of his employable years.
I can remember in the 1960's I hit the limit or maximum that could be withheld and it seemed like a raise in pay. Over the years I know there was a cap on how much was extracted from a worker but I never hit the cap as the years rolled forward and I got older. 15% of my pay, some years less and toward the end of my working years it was more but we'll use 15% of our pay went into Social Security.
It is more than annoying to hear from our elected officials that Social Security is an ENTITLEMENT! Now that I have reached the age I can collect on the program I am told the program is a government handout? I beg to differ on this point, ever since the age of 16 Social Security withholding has been deducted from my pay. It is now time for me to get the money back. It was taken from workers and a good faith pledge it would be there when I and others retired. We are not parasites who have failed to pay our way. Republican and Democrat politicians who call Social Security a ENTITLEMENT PROGRAM surely need to think this over.
I would settle for the same retirement given to members of Congress and forego any further S.S. payments.
Posted by Paul Alldredge at 10:43 AM