I paid into SS for decades. There was no alternative, you paid into SS every paycheck. I could've used that money to raise a family but I had no choice in the matter.
Now I'm going to apply for my promised benefits.
We'll see how that goes.
My first job my take home pay went up in May. Why? Because I had maxed out the Social Security tax for that year. I think it was 3%, expiring in May.
Now it's about 8% and never expires for most people. (Doesn't count the 8% your employer pays either--it's really 16% but they fool you to think of it as 8%.)
At age 75 I think I've already gotten more out than I have put in. The kids will get cheated. Congress should be put in the same cell as Bernie Madoff
