My point is to prove that the entire program is a rip off and that Elon and Doge are doing good work. If anyone here is on social security your input will be beneficial. This will all be done off national average and the results will be posted here once done. I hope it helps someone or at least opens minds to how Governments are not good at investing your money. Of the which, I am sure you already know. But this will be shared with libs too. Numbers are facts and do not lie. Thanks in advance.
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Do Medicare too…decades of paying Medicare taxes AS WELL your employer paying Medicare taxes and yet the monthly Medicare premiums are $185 plus Part D drug coverage for sub-par coverage. To get comparable medical insurance, my parents had to get a supplemental plan for $150+. Their first year on Medicare was $200 MORE than what they paid as employees AFTER PAYING MEDICARE TAXES FOR OVER 50 YEARS!
Numbers are PER MONTH!
My study will require the pay in from 1970 to current vs the payout and what one could expect if they did their own payment savings that the gov couldn’t steal from.
Great idea but one study at a time. It would require me a team of math gurus to do more than this right now and as I stated, this will take me sometime. Possibly months. I want it to be detailed and accurate. I’ll have graphs and facts to back it up and I’ll have to be able to give all my sources of which I plan on it coming from the government so there is no argument. I’ll be able to say the info came directly from the gov themselves.
My first response to this post was rather flippant, sorry. On further reflection, if it helps in your quest, I recall something I read a few years ago. The data might have slightly changed since I read it, or (thanks to the COVID shots) it might have changed drastically.
It goes like this: A major life insurance company (I can't recall which) had an actuarial table, deeply researched and quite thorough, and they found that of all people who retired, the average retiree lived long enough to collect 17 monthly checks. If you imagine a bell curve of time lived after retirement, the top of the curve would be at 17 months, with the X-axis going from 0 (died shortly after retiring) up to some higher number, which I cannot recall; it could have very well been a lopsided bell curve with a longer line to the right than the left.
Insurance companies live or die on accurate actuarial tables, so that they know how to price insurance policies. And as I said, that was before the COVID debacle jabs, also known in math as a "confounding variable."
Good luck with your search.
EXACTLY, they keep cutting back benefits & raising the tax, then crying the fund will out.
I was a Texas teacher. Sadly, Medicare with my supplement and drug plan gives me MUCH better insurance coverage than my BCBSTX insurance did and at a much better price.
$185? We were quoted over $800 + for really bad coverage. Went with private insurance.. We would have been ok, except obamacare kicked in and deductions and co pays went through the roof. Even with that, private coverage was cheaper.