A new study shows how Social Security, designed to provide retirement benefits to elderly Americans, has been turned into a rip-off for taxpayers, courtesy of the contraceptive mentality.
People retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It’s a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.
As recently as 1985, workers at every income level could retire and expect to get more in benefits than they paid in Social Security taxes, though they didn’t do quite as well as their parents and grandparents.
A married couple retiring last year after both spouses earned average lifetime wages paid about $598,000 in Social Security taxes during their careers. They can expect to collect about $556,000 in benefits, if the man lives to 82 and the woman lives to 85, according to a 2011 study by the Urban Institute, a Washington think tank.
“Future generations are going to do worse because either they are going to get fewer benefits or they are going to pay higher taxes,” said Eugene Steuerle, a former Treasury official who has studied the issue as a fellow at the Urban Institute. (Source)
What’s the point of a retirement social program that gives you less money than you put in? You’d be better off stashing that dough under your mattress.
Why is this happening to Social Security? Because of “population aging”, of course, which is just a euphemism for the consequences of aborting away tens of millions of taxpayers and preventing tens of millions more from ever being conceived through birth control:
In 1960, there were 4.9 workers paying Social Security taxes for each person getting benefits. Today, there are about 2.8 workers for each beneficiary, a ratio that will drop to 1.9 workers by 2035, according to projections by the Congressional Budget Office.
Don’t you just love the emancipation brought about by birth control? More like emaciation of the elderly.