It’s our Social Security, not the goverment’s

Ever consider those who died before they collected Social Security? This is certainly something to think about. The only thing wrong with the government’s calculation of available Social Security is they forgot to figure in the people who died before they collected a single Social Security check. Where did that money go?

Remember, not only did you and I contribute to Social Security, but your employer did, too. It totaled 15 percent of your income before taxes. If you averaged only $30K over your working life, that's close to $220,500. Read that again. Did you see where the government paid in one single penny? We are talking about the money you and your employer put in a government bank to ensure you and me that we would have a retirement check from the money we put in, not the government.

Now they are calling the money we put in an entitlement when we reach the age to take it back. If you calculate the future invested value of $4,500 per year (yours & your employer's contribution) at a simple 5 percent interest (less than what the government pays on the money that it borrows), after 49 years of working you'd have $892,919.98. If you took out only 3 percent per year, you'd receive $26,787.60 per year and it would last better than 30 years (until you're 95 if you retire at age 65) and that's with no interest paid on that final amount on deposit.

If you bought an annuity and it paid 4 percent per year, you'd have a lifetime income of $2,976.40 per month. Entitlement my foot; I paid cash for my Social Security insurance. Just because they borrowed the money for other government spending, that doesn't make my benefits some kind of charity or handout.

Remember Congressional benefits? Free health care, outrageous retirement packages, 67 paid holidays, three weeks of paid vacation, unlimited paid sick days. Now that's welfare, and they have the nerve to call my Social Security retirement payments entitlements? They call Social Security and Medicare an entitlement even though most of us have been paying for it all our working lives, and now, when it's time for us to collect, the government is running out of money.

Why did the government borrow from it in the first place? It was supposed to be in a locked box, not part of the general fund.

The folks in Washington have pulled off a bigger Ponzi scheme than Bernie Madoff ever did.

Larry Westbrook Newnan



More Opinion

Georgia Says

Albany (Georgia) Herald on ISIL: It seems our Washington leadership has found something it can agree on — national defense. Since the ... Read More


It’s show time, er, fair time

With cooler weather starting to move in, you know it’s time for the Coweta County Fair. The annual event kicked off yesterday and will ... Read More


Enough with domestic violence

It started with a clip of a football player pulling his unconscious fiancee out of an elevator. Recently released additional video shows the ... Read More


Rants, Raves & Really?!?

A look back at last week’s highs, lows and whatevers: REALLY?!? Some members of the East Coweta High School Marching Band were burned ... Read More


Georgia Says

The Augusta (Georgia) Chronicle on unswerving ideals: He epitomized the expression "doing well by doing good." His chicken sandwiches made ... Read More

The president and ISIS

The greatest threat facing America is terrorism. Today, that terrorism shows its face through ISIS. They rape, torture and kill men, women a ... Read More