Unfortunately, Social Security is more a social insurance than a retirement plan. It came about because most people will not save for old age and we needed to prevent old age poverty. Also, over the last 30 years 4% would have been more realistic, and one must also include spousal benefits and any SS disability a family member may have got.
I don't think serving children coke is a good way to spend money regardless of the source.
Social Security is actually a legal Ponzi scheme; those working today are paying the money that I receive today.
In their future, the workers will be paying them, and so on.
The problems with Social Security are 1. the ratio of workers to retired is getting too low 2. retired are living too long 3. the crazy Congress passed a law providing "cost of living increases" to the money people are paid by Social Security.
This is so impossibly absurd and fucked up; no way in the world could a true pension give you an increase in monthly payment.
I have a friend on Social Security and she believes she "deserves" a "raise"; I know a guy who cheated the system and claimed "Lyme Disease Disability" and he complained he doesn't get a "raise" often enough (he actually is a gym rat, not disabled).
Like anything the government pays for, people game the system and cheat to get free money.
Some people by nature love free anything, and will go to great lengths to scam or cheat to get it.
Every April tax time I sent the US Treasury about the same amount of dough I get from Social Security; however, Medicare has removed $4,700 each year from my payments, so in a way I'm paying more money come to think of it.
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