4 ms·
$1400 a month is the average. I can start collecting that amount at 67, and will statistically die at 78. So 11 years of benefits is $185k. Meanwhile, if I m
by hiram112 9y ago
$1400 a month is the average.
I can start collecting that amount at 67, and will statistically die at 78.
So 11 years of benefits is $185k.
Meanwhile, if I make an average of $100k for just 12 years, then I will have paid that much into the system (15% contribution). And that's not even counting the massive amount of compounding that will have occurred as I've been contributing since I was 14 years old.
I know it's quite popular for the HN crowd to talk about raising taxes for things like universal health care, social programs, etc.
But when I actually do the numbers and look at how I'm already paying about 1/3 of my income to taxes, I'm beginning to see why many conservatives don't trust the government to be fair stewards of our money.
- icebraining 9y agoBut if you pay more, you also get out more. Not as much, since SS is redistributive, but certainly more than average.