4 Rubio & SSI
A 2012 BLS avg. $42,537 wage @12.4% ($449.50/mo) annuity @5% compounded monthly over 46 years (18 to 65) with a 13 yr payback is ($8,221/mo) from 65 to 78. SSI was originally set up as an “earned right” based on secure investments (It’s in writing per FDR)! Today, wage earners are paying in enough for 6.7 average $1235/mo SSI pensions. Unfortunately, today it takes 2.8 current worker contributions to pay one average benefit because a “SSI trust” fund that should have over $100 trillion in it has roughly $2 trillion in bonds that are progressively devalued into pennies on the dollar over the 59 years from 18 to 65 & death at 78!
Simply stated our current government is in the business of counterfeiting currency and bonds which creates runaway inflation that devalues the currency basis! That disaster is compounded by linking benefit payments to inflation! Current conditions are far more volatile than the double digit inflation in the late 1970s.
Madoff’s Ponzi scam was a grain of sand compared to what our executive-legislative officials have and continue doing to us! Madoff is in jail for the rest of his life. Any “official” who continues this scam deserves the same or more punishment for literally stealing the nest egg of every citizen.
Annuities aren’t rocket science! Check out the SSI fund – it pretends to earn 5% & you might not know the difference if you don’t know how badly government is screwing citizens they’re sworn to protect! When one can counterfeit a bond, they can make it yield anything they want & if you want to cash it – they’ll be happy print some cash for you! IT"S A HEINOUS CRIME!
To Rubio & the gang of 8 - Are you going to explain to the amnesty hoard that their SSI deposits aren't going into a real trust fund & they, like all citizens will find the piggy bank empty when they get too old to work!
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