WASHINGTON, May 14, 2013 /PRNewswire-USNewswire/ -- /EIN News/ In the 1980s Congress upped the ante on how much workers and their employers would pay into the Social Security Trust Fund. For most Americans, the bite since then has been 6.2%.
The Trust Fund's books now show a balance of nearly $3 trillion. The fund also strikes a fair balance between money an individual contributes and what he or she withdraws from it during retirement years.
A recent study estimates that the average single man, retiring at the age of 65 with estimated annual income of $43,500, would pay $294,000 into the fund during his working years and get back $265,000 over the remainder of his life time.
How can anyone reasonably call this system an "entitlement"?
To read the rest of EIN News' syndicated columnist Joe Rothstein's commentary go to:
- Defenders of Social Security: It's Time to Start Playing Offense - http://uspolitics.einnews.com/column/149891048/defenders-of-social-security-it-s-time-to-start-playing-offense
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