tag:blogger.com,1999:blog-6244999628674918029.post4510466914082273010..comments2024-03-29T06:30:37.772-05:00Comments on Bayou Renaissance Man: Why entitlement programs MUST be cutPeterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6244999628674918029.post-66439967573756351212011-01-22T14:33:34.151-06:002011-01-22T14:33:34.151-06:00I suspect that one's view of whether Social Se...I suspect that one's view of whether Social Security is an entitlement or not has some relation to where you are on the retirement spectrum. I do consider it an entitlement, and my 14 years of contributions to be a complete and total waste.<br /><br />If I were to become disabled and unable to work tomorrow, I would be able to cash-in on my Social Security benefits for the rest of my live, which quite likely would still be 30-50 years, taking out vastly more than I ever put in to the system.<br /><br />Conversely, if I am able to work another 37 years until I hit the age to receive the full benefit of my "contributions", well, at this point it's highly unlikely that I'll be receiving anything, since the system will have been bankrupt for over a decade beforehand.<br /><br />At least for this year, we got a 2% cut in our rate of forced contribution. That 2% went directly into my 401(k) account, where it at least has some chance of still existing when I'm ready to retire.Fly To Your Dreamshttps://www.blogger.com/profile/17672663720314040513noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-40579827152190013152011-01-22T13:58:22.891-06:002011-01-22T13:58:22.891-06:00Typo - The chart was for a 100 year period.Typo - The chart was for a 100 year period.Paul Campbellnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-63164698113330369002011-01-22T13:57:12.888-06:002011-01-22T13:57:12.888-06:00I don't consider Social Security to be an enti...I don't consider Social Security to be an entitlement program. I've paid into SS every year for the last 42 years and will continue to do so for about another 9. It is a retirement plan forced upon me. I do agree there are many entitlement program that need to go.<br /><br />A while back I saw a chart on the Internet. I don't have any idea if it is accurate. The chart presented the medical costs over about a 10 year period. Cost were relatively flat until the 1960's when Medicare was enacted - then the line shot up on a diagonal. The Federal Government is more than capable of messing up anything!Paul Campbellnoreply@blogger.com