Quote:
Originally Posted by jc3900
This is exactly why SS is a scam. 5 people in the beginning support the first person who collects it. Then you need 25 people to cover those 5. Then you need 125 people to cover those 25. If I was running an annuity/insurance product like this I would be rich, only at the expense of the system crashing and average young person like myself losing out.
Anyway, this is another problem with SS. It FORCES people to join. What if I don't want to join and it is a really sucky return and a sucky program for helping the less fortunate. I can't do anything. SS works only by lifting up a very small minority at the expense of screwing everyone else. (hey that kind of sounds like socialism) Oh wait.... THAT IS SOCIALISM.
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I totally agree with you. SS does forces people to join. However, they are jobs out there (i believe over 2 million+ aren't covered by Social Security). For example, California teachers with credentials and employed in any K12 public system, or Community Colleges don't pay into SS. They have their own pension system (CalSTRS) Teacher's Retirement, and define contribution account 403(b) to rely on for their retirements. Also, all Correctional Officers that works for California Department of Corrections do not pay into SS. They belong to Public Retirement System (CalPERS) which is the largest public pension in the US.
You will also find many local governmental agencies or city governments throughout California that pays employees 100% share to portions of their SS contributions. Unfortunately for me, my BU and classification ain't strong enough to eliminate SS contribution. But at least I have both CalPERS, ROTH, 457, and little Social Security if not BK when I reach that "critical mass".
Bottom line: Not all jobs forces everyone to participate into Social Security. You just have to look elsewhere and be willing to relocate. California isn't a bad place to look for jobs either.