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Reply to "High earners/savers: How do you feel about social security?"
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[quote=Anonymous]This happens on every thread about SS. People think they have paid into some kind of savings account and they are owed the money back. THAT'S NOT HOW SS WORKS. The money that current workers pay in, supports current retirees (/disabled people). Your Social Security checks will be coming out of the deductions from paychecks of the people who are still working/paying in when you retire. There's not a big pile of money that you personally contributed to, tied to your SSN, waiting around 35 years for you to start withdrawing from it. The first generation of people to receive Social Security never paid a dime into it. It's not a return on investment, it's a social program funded by current workers to keep old people from living in poverty.[/quote]
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