LMAO wrote:
"Show me were in the SS law that says you’re entitled to get back what you put in..."
I'm offering a "personal experience" post for your edification.
I stopped paying into Social Security in 1979 -- 43 years ago. Not one cent into SS since then. Every year I get a statement (I'll reckon you get one too), with almost nothing on it but "zeros".
Instead, I paid into Railroad Retirement -- which taxes the railroad employee at a significantly HIGHER RATE than people pay into SS.
Over my working career, I paid a little less than $67,000 in taxes to RR retirement.
I retired in 2012 (just having turned 62) and have been collecting since.
Since my retirement date, I've been paid in benefits nearly 8x the amount of my total contributions in my career. You do the math.
I'm 73. So... if I'm able to live a decade more, I'll get 'em for nearly TWICE that amount.
There is NO WAY that I could have made "private investments" under a "privatized" system that would equal this. I simply didn't have the investment savvy, and I doubt "the markets" would have provided in any case.
So... you'll get no complaints from me that the current retirement system is rigged against the worker. It's done well by me.
And most railroad retirees get MORE THAN I do.