- Apr 1, 2011
- 170,117
- 47,274
- 2,180
There is no law which prevents every person in this country from making retirement investments. Paying into SS & Medicare is like buying insurance, with one very important distinction - the money you put in you will get back if you live long enough; and if you live to a ripe old age you will receive more.
All this crap about how great investments are, are predicted on best case scenarios. In October 2008 reality hit home for too many Americans whose plans went awry. That home worth half a million dollars was underwater because the financial services industry offered 'wonderful' second and third mortgages, with a "What Me Worry" guarantee; and others experienced more paper money disappear as the stocks they held lost value.
But, they didn't lose the insurance they held in SS and Medicare. I suspect that those above are solely interested in getting their greedy little hands on other peoples money to play with - for a fee of course. Concern for the working men and women is their last consideration, as can be seen in the disdain they hold for those who haven't planned ahead. Yes, some people are lazy, some wait until tomorrow (which never comes), some earned too little and some spend everything they have on necessities or toys. Many will need the safety net and it's not going anywhere soon.
More bullshit...Social Security is the same kind of "insurance" that businessmen in Boston bought from Whitey Bulger. I guess you might call it "fire" insurance. Like those people, my money is taken from me at gunpoint.
Someone (I think Androw) posted an analysis of the WORST-case...getting into the market just before the 1929 crash, and getting out just AFTER the most recent crash. Guess what: had you done that, you would still have MADE money! (I cannot link to the post because the board's search function hasn't been working for three days.)
Feel free to (try) and not pay into SS and medicare; the irony there is the government will feed, cloth, house and provide you with medical care.
I suppose (Androw's post) that would be true, if one invested in precious metals, especially gold. Waiting nearly 80 years for a pay off seems a bit silly (what was the life expectancy for someone born in 1929, in 1929? Answer: 58 years).
He knows you aren't free to not pay FICA taxes. That was his point, moron. That's what makes it the same kind of "insurance" you pay to Guido the Leg Breaker.