WTF ... IS WTF!?
We are a collective of people who believe in freedom of speech, the rights of individuals, and free pancakes! We share our lives, struggles, frustrations, successes, joys, and prescribe to our own special brand of humor and insanity. If you are looking for a great place to hang out, make new friends, find new nemeses, and just be yourself, WTF.com is your new home.

Headlines Social Security

8
0
0
#1
Myth No.4: Social Security will run out of money in 2042. Social Security will still be receiving payroll taxes from workers in 2042. What may have disappeared by then are the assets in the Social Security trust fund.

Even that isn’t cast in stone, however. The Congressional Budget Office in June projected that the trust fund wouldn’t dry up until 10 years later, in 2052. The CBO used different assumptions than those used by the Social Security Administration, projecting faster growth in worker earnings, higher interest rates and lower inflation.
WTF so basically by the time we retire we will get no benefits? Also we will have paid more into it then previous years. This really aggravates me, i could make alot more money if the money went into a 3% intrest account.
Social Security and Medicare
tax rates since 1937
Years Rate
1937-49 1.00%
1950] 1.50%
1951-53 1.50%
1954-56 2.00%
1957-58 2.25%
1959 2.50%
1960-61 3.00%
1962 3.13%
1963-65 3.63%
1966 4.20%*
1967 4.40%
1968 4.40%
1969-70 4.80%
1971-72 5.20%
1973 5.85%
1974-77 5.85%
1978 6.05%
1979-80 6.13%
1981 6.65%
1982-83 6.70%
1984 7.00%
1985 7.05%
1986-87 7.15%
1988-89 7.51%
1990 and later 7.65%

*Medicare taxes were first collected in 1966.
Source: Social Security Administration
What are your thoughts on this also here is the link http://moneycentral.msn.com/content/RetirementandWills/P73718.asp
 

UberSkippy

a.k.a. FuckTheBullShit
7,529
63
142
#2
You need to reread the rules for this forum. The first post can't contain quotes... it fucks up the front page.

You need to edit that to use " characters or something.