Thursday, May 17, 2007
Welfare for the Wealthy
More than 53% of the national budget (and therefore, our taxes) now goes to entitlements. The majority of that goes out in "welfare" checks to social security recipients. They HATE being told they are getting "welfare" but that is the fact. If someone retires at 65, he or she gets back ALL the money they put into FICA, in about five years. From then on, they get OTHER PEOPLES MONEY. They may need it. Many don't. My father-in-law retired at 65 as a millionaire. He died at 84. For his last thirteen years of life, he received about $312,000 of other people's money. He "bragged" that he never spent a penny of it. It went into investments. It's not complicated. It's time to MEANS TEST social security. We do it with almost every other entitlement. You get back all of YOUR money and after that, if you NEED other peoples money, you get it. If not, you don't.
Labels:
budget,
economics,
investments,
social security,
welfare
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