Social Security New Math: Who Loses? Everyone Loses!

Filed in Politics, Tax, Savings by on July 12, 2018

Here is the story on Social Security New Math: Who Loses? Everyone Loses!

Social Security new math is why it is very misleading to say that the average person has less than $5,000 in savings. They have Social Security benefits, when are very valuable. The Social Security new math ensures that these benefits are worth far more than average payments into Social Security plus interest. This update mainly relates to added graphics and Yoast search engine optimizing.

I was one of many writing about Social Security new math – Who Loses? Everyone Loses!

I wrote about Social Security new math – Unlike others, I added to Social Security new math – Everyone Loses! I did so because Social Security and Medicare have always been Ponzi Schemes, far beyond anything even Madoff could envision. They never limit benefits based on income, assets and life expectency. Like Madoff, they simply use new money coming in to pay current benefits. Here is why we can now talk about Social Security New Math – Who Loses? Everyone Loses!

This is from the official 2009 Annual Reports of the Social Security and Medicare Boards of Trustees, “Social Security could be brought into actuarial balance over the next 75 years with changes equivalent to an immediate 16 percent increase in the payroll tax (from a rate of 12.4 percent to 14.4 percent) or an immediate reduction in benefits of 13 percent or some combination of the two… The Medicare Report shows that the HI Trust Fund could be brought into actuarial balance over the next 75 years by changes equivalent to an immediate 134 percent increase in the payroll tax (from a rate of 2.9 percent to 6.78 percent), or an immediate 53 percent reduction in program outlays, or some combination of the two.” That is why we now say, Social Security’s New Math: Who Loses? Everyone Loses!

Social Security New Math: Who Loses? Everyone Loses!

That means the total Social Security and Medicare tax should now be 21.18% of payroll, instead of 15.3% of payroll, This will simply to break us even on benefits elected representatives already agreed to pay. As a CPA, this makes me sick. It is one of many clear cases where we spent a lifetime legally stealing from our children and grandchildren. The saddest part is that the most important thing we stole from our children was an understanding of our theft and the obvious two-party government hypocrisy. The next time you see a problem that cries out for a government solution, examine it closely. You are almost sure to find that government caused the problem. Until we do that, we will keep discovering Social Security’s New Math: Who Loses? Everyone Loses!

Meanwhile, one Social Security planning benefit no longer applies. You can no longer pay to but additional Social Security benefits.

Social Security New Math

Social Security New Math

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