So the average earner puts in $250,000 over 38 years.

if the interest rate for that money is averaged at 3.66% that would be $9150/year. If the average earner is bringing home $1800/month. That is $21,600/year. That would be a net loss of 12,450/year.

That means 250,000 would last about 20 years.

I will ask again. Where does the money come from for the ss recipient once the kitty is dry.

Socialism at its bestv

And where does SS disability money come from?

Just bringing concerns to light. Nice to have an enlightening discussion for those who think they pay into their own social security.

Actually it is the world's largest Ponzi scheme. But if a citizen does this, they go to jail.

I would much prefer what I pay in go into a personal account like a roth. That I can invest and pass down.

I make a lot more than 3.8% But then It would not be a slush fund for the government.

FDR mandated Ponzi scheme because the government knows best after all

The government wants you to die as soon as you're no longer productive.

Keith

GWB tried to give us the option for personal accounts but the voters decided they preferred the Ponzi scheme.

The county of Galveston, TX (along with Matagorda and Brazoria counties) actually opted out of Social Security in favor of private accounts, which they call the Galveston Plan.
https://www.ssa.gov/policy/docs/ssb/v62n1/v62n1p47.pdf

The US government changed the rules in 1983 so no new counties can opt out, but those three TX counties were grandfathered in.

If people paid into their own private accounts, that ends the Ponzi scheme, does it not? So why did so many people who pretended to care about the national debt oppose it?

Consider this as well you paid taxes on that SS when you were working and pay taxes on it again when you draw it.

Sounds like the healthcare system.

Not surprising or out of line to have COLA adjustments after starting your benefits. After all the initial payments were based on taking your 40 quarters over time and adjusting the income for inflation over those years. Also there are bend points that have different percantages at different income levels with the lower incomes getting the benefit of the higher percentages in the calculations.The system was created to be fraternal to an extent. If you have a private pension, most of those have adjustments as well so this is not just an SS thing.

Bryce

Where did you get the idea that your SS dispersement is your money? The dollars you pay in go into a general fund that is unevenly paid out to individuals as politicians have controlled. Some get more or less than they paid in and some get paid without having paid in at all(there are also survivor benefits for dependents of those who have died). Borrowing and investing that fund is where the extra money you are asking about is supposed to come from(as well as many more paying in that getting paid). If the fund runs out a lot of individuals will lose a lot. Increasing the SS payroll deduction, the pay in cap and age you can get it all have changed to keep it solvent. Increased life span were never really planned for either.

I can imagine the games Wall Street would play with all that money flowing in. It's bad enough with 401K and other such retirement dollars being there to play with. The somewhat imperfect plan was for the gov to force people to save for their old age and try to help protect it. But when money piles up anywhere it is very difficult keeping the hands of politicians out of it unless you have some that will pass you tax, breaks, loopholes, tax shelters, subsidies or other protections for you. It is now a program that is very mismanaged and used to buy votes like so many others.

Who is FICA and why did it get a percentage of my pay check before my Federal and States taxes?

They absolutely do not get a cost of living increase (raise) every year.
Most recently these years had no increase

The same way à person who has never worked gets a raise and "gets money back" when they file income taxes.