Thirty-four percent of Americans think that the U.S. government spends more money on foreign aid than on Social Security. Actually, foreign aid totals about $48 billion a year and much of that is military aid. Social Security expenditures are about $808 billion a year.
3 comments:
Charles,
I am a big supporter of your blog, so please take this in the spirit in which it is intended.
When the statement is made that the "Government spends 808 billion" on Social Security, many people are not going to realize that a good portion (if not all)of that money came from beneficiaries that paid into the system (I'm excluding TXVI). I admit that I could be wrong about that, but that is my understanding and I am not looking to get into a pissing contest with someone over the source of each little penny.
The reason that I think that the distinction is important is because otherwise some people will start screaming about their taxes not realizing that SS is a one of the best investments for their older years that they can make.
Unlike tax dollars that go to corporate welfare, your SS taxes have the potential to come directly back to you should you live long enough. Your taxes that are spent on the various corporate welfare programs (including contracting out federal jobs)result in very little personal return to individual tax payers.
As for insolvency, raise the cap, DO NOT implement a means test and the problem will be solved.
Just my two cents. I could be wrong, I probably am wrong. But no fear because some one will set me straight.
I agree with 10:14 AM, October 05, 2014.
Accept,i suspect most people receive more benefits than their lifetime contribution in taxes.
I wonder how much foreign aid the U.S receive? U.S should decrease the foreign aid spent. I also believe SSA can find ways to make adjudication cheaper. Starting with ODAR and THE APPEALS COUNCIL.
Your headline "And Many Of These People Vote" - did you leave out that significant phrase at the end, "usually for democrats"?
Post a Comment