Sunday, February 27, 2011

Social Security and Why I Am Not Feeling Secure

I recently got a flyer in the mail from the Social Security Administration, and having recently entered my 30's, to get any correspondence from this entity seems a bit premature, although I have technically been receiving one ever since I entered the workforce.  Currently, I see so much of my earnings go into the following categories -
  • Federal Income Tax
  • Social Security Tax
  • Medicare Tax
  • CA State Income Tax
  • CA SUI/SDI Tax
I also have two other VERY important deductions from my earnings -
  • Life Insurance
  • 401 - K
Now, in the mail that the Social Security Administration decideis obligated to send to me, via US Mail, included a four page item titled "Your Social Security Statement", and a two-sided newsletter "What young workers should know about Social Security and saving".  My "Statement" which they refer to as being mine, only seems personalized upon looking to page 3... but then again, they did pay for six pages of printing, paper, envelopes, and postage. 

I have larger concern about the two-sided newletter... It contains a section in green-scale with the headline "Will Social Security still be around when I retire?"  The short answer according to the author is "Yes" but as one reads there is the following -
The Social Security Board of Trustees now estimates that based on current law, in 2037, the Trust Funds will be depleted...the taxes that are paid by workers will not be enough to pay the full benefit amounts scheduled.
I am sorry, but "Yes" actually doesn't seem like the right answer after I read further.  Should I feel like I was just lied to by the author or that the author doesn't know what he/she is talking about?  I am going with the former.  I am tired of feeling like I am lied to and mislead by our own government - our elected officials, and their appointed officials are disappointing at this point. 

So, is my Social Security flyer fuel to the fire for how I want to help protect my fellow Americans?  It sure is.  I am a planner, and I am being told by my government to not plan on Social Security which I pay into with every pay check... it doesn't seem right that I am funding something that I will not have the ability to use.  I believe that the voteers in the 36th District feel the same.  It is about time that we all get what we pay for.

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