Reply #15: how bout this... [View All]

Currently, I pay 7.65% and my employer generously "matches" my contribution...meaning he factors it into my salary before I am even hired. In reality, I am paying 15.3%...So are you, and so is every worker in America.

What if I were willing to pay 10% to the current system, and you let me keep just 5% of my social insecurity taxes? Fair compromise? I would still be opting out of the system keeping just 5% of my taxes, while paying a full 10.3% to current retirees to keep the system solvent.

That 5% would go a long way for me. Let's say I earn $30,000 a year starting now, from age 25 to age 65...and I never get a raise...NEVER.

5% of 30k = $1,500

I did the math...and annual $1,500 contribution invested at 10% for 40 years comes out to $798,166.60

The stock market average over the past 70 years is 11.9% so I'm using a conservative growth estimate here. If these contributions actually earned the historical average of 11.9%, the personal account would be worth $1,386,992.60

How's that for some social security?

Just give me a third of my contributions...less than a third actually.
You can keep 2/3+ of the taxes and pay me NADA in return.

Deal?