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Social Security Not The Deal It Once Was For Workers

Sunday, August 5, 2012 - 5:25 PM
According to an AP article, people retiring today are part of the first generation of workers who have paid more in Social Security taxes during their careers than they will receive in benefits after they retire. It's a historic shift that will only get worse for future retirees, according to an analysis by The Associated Press.
"For the early generations, it was an incredibly good deal," said Andrew Biggs, a former deputy Social Security commissioner who is now a scholar at the American Enterprise Institute. "The government gave you free money and getting free money is popular."

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3
pearlbrownpearlbrown1,356 posts since
Nov 2, 2010
Rep Points: 5,955
1. Sunday, August 5, 2012 - 6:06 PM
Maybe I missed something in the article but how much does inflation come into play here?
2
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
2. Sunday, August 5, 2012 - 8:22 PM
Nothing was said about if the SS worker died before retirement and had children under 18 or a low income wife with children under 18. All could collect benefits.
2
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
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