What Social Security Means To Me

taxes, welfare

The Social Security Administration sent me a mailing today entitled, “What Social Security Means To You“.

First they explained that the SSA is not going to give me enough money for retirement, “…Social Security was never intended to by your only source of income when you retire.  You will also need other savings…”.  Next they said that, “Social Security is a compact between generations,” but, “the Social Security system is facing serious financial problems”.  Apparently, the Trust Fund will start losing money in 2016 and be empty in 2037.  They make it sound like I am throwing money into a hole.

They estimate that the SSA be able to pay “about 76 cents for each dollar of scheduled benefits”.  That’s not a problem as long as there is massive deflation.  Then 76 cents will buy just as much as a dollar does today. It’s also not a problem because the, “estimated benefits are based on current law.  Congress has made changes to the law in the past and can do so at any time.”  Congress can just raise my benefits whenever they like.   Of course, the opposite of both of these is going to happen.

So what does Social Security mean to me?  Nothing.  It is totally irrelevant.  The Social Security tax is just the name that the government gives to a portion of my money that I am not allowed to keep.  The payments that I may or may not receive from the SSA are just a small part of the government’s campaign for legitimacy.  As with every other government action, they take my property, they make my life a little worse and they expect me to be grateful.

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