Human Events -- 7/14/2011
But last Tuesday, President Obama said, “I cannot guarantee that [Social Security] checks go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do this.”
READER COMMENT: Let every SS recipient make the following calculation: 1) get from the SSA the complete list of your annual contributions; 2) add your company's SS payments made in your name (that is by how much your salary was reduced); 3) add income tax you paid in your personal SS contribution; 4) sum up the 3 amounts and invest the sum in the 5% tax-free municipal or state bonds; 5) repeat this process for all your working years until retirement. You will then have the real value of your payments. Compare now this capital to your miserable monthly SS payment. In my case the value after 33 years of work of this personal fund was $1,800,000, earning tax-free return of $90,000/year, or $7,500/month, without touching the capital which I could have left to my inheritors. Compare that amount with my actual payment of $1,400/month. The difference illustrates the amounts stollen from me by this gigantic, criminal Ponzi scheme.
Scroll down a bit to see Obama’s Lie: June Revenues ($248 billion) and June Expenditures ($213 Billion)
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