Government Says Social Security Is a Terrible Deal for Most

October 9, 2012 06:42

The fact is that SS is stiffing 80% of American workers.


By Bruce Krasting at


The key statement from the CBO report (link):


For people born in the 1940s or later who have household earnings in the second quintile or above, the present value of taxes will be, on average, more than the present value of scheduled benefits.


Got that lovers of SS? 80% of the people who contribute to SS get less than what they paid in. Only the bottom 20% of income earners have a chance of breaking even.





… SS is a very bad deal for you. Fully 80% of all workers will see a negative return on the money they are forced to put into SS.


… Both political parties want to keep SS as it is, or raise taxes further to “strengthen” it.But 80% are getting screwed.


12.4% of an individual’s compensation goes out the door to SS. If this burden were eliminated, the economy would thrive. Unemployment would drop as the extra take-home pay works its way through the economy. As the economy expands, tax receipts would rise.


From the CBO report:


Taxes are projected to be insufficient to pay for scheduled benefits


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