Let's assume a person began working in 1960, retired in 2005 and always earned more than the maximum taxable amount for social security. Based on the maximum taxable amount by year, the tax rate by year, and assuming a 7% yearly rate of return, by the time that person retires in 2005, he'll have effectively paid $255144 into social security. Assuming that person was 65, they will receive a monthly benefit of $2,249. Assuming that 7% rate of return continues, that person will be receiving benefits that outweigh their contributions in 15 years; and that number goes down for people that have been earning less started working and retired earlier.
In conclusion, anyone who lives 15 years past their retirement date is a freeloader and not a real 'merican.
I like how TFA calls the Democrats opposed to Net Neutrality "ConservaDems"; as if it had much of anything to do with being liberal or conservative, instead of how much money the telcos threw at them to vote on an issue that the American public at large doesn't understand.
I've been spreading the good word of Net Neutrality for the last five years. Why is it that now, after I've stopped caring since the FCC passed this non-functioning solution under the banner of Net Neutrality, do I actually see people talking about the issue?
Slashdot Mirror
Is it really a "Secret FBI memo" if I can get it on the FBI's website?
Haven't we learned by now not to call any sort of seafaring vessel unsinkable?
If I may play devils' advocate for a moment...
Let's assume a person began working in 1960, retired in 2005 and always earned more than the maximum taxable amount for social security. Based on the maximum taxable amount by year, the tax rate by year, and assuming a 7% yearly rate of return, by the time that person retires in 2005, he'll have effectively paid $255144 into social security. Assuming that person was 65, they will receive a monthly benefit of $2,249. Assuming that 7% rate of return continues, that person will be receiving benefits that outweigh their contributions in 15 years; and that number goes down for people that have been earning less started working and retired earlier.
In conclusion, anyone who lives 15 years past their retirement date is a freeloader and not a real 'merican.
Sources:
http://www.ssa.gov/oact/cola/cbb.html
http://www.ssa.gov/oact/ProgData/taxRates.html
http://www.ssa.gov/oact/cola/examplemax.html
*Note -- I ignored employer contributions which, in the case of determining if someone is a freeloader, don't count as your own contribution.
Think of it more as an exercise in dynamite testing, rather than hole digging.
They want limited government, in the sense that they want the government limited to the shit that benefits them.
--Shamelessly misquoted from The Daily Show
I like how TFA calls the Democrats opposed to Net Neutrality "ConservaDems"; as if it had much of anything to do with being liberal or conservative, instead of how much money the telcos threw at them to vote on an issue that the American public at large doesn't understand.
Public education.
Clarification: when I say 'people', I mean people outside of the internet.
I've been spreading the good word of Net Neutrality for the last five years. Why is it that now, after I've stopped caring since the FCC passed this non-functioning solution under the banner of Net Neutrality, do I actually see people talking about the issue?
Now my wallet can use an RFID reader to tell me it doesn't have any money in it? Fantastic.
The time for us to get behind Net Neutrality ended six months ago. Now there's nothing left to do but watch the world burn.