CNN: Taxpayers now pay more into Social Security than they'll receive in benefits, and the trend is worseningSubmitted by the clover helix on Tue, 04/16/2013 - 02:21
Libertarians have long known that Social Security was a scam in real terms, but now it's a scam in both nominal and real terms.
"A couple who each earned the average wage during their careers and retired in 1990 would have paid $316,000 in Social Security taxes, but collected $436,000 in benefits, according to data crunched by Eugene Steuerle, an economist at the Urban Institute.
Had that couple turned 65 in 2010, however, they would have paid $600,000 in taxes, but could expect to collect just $579,000. This is the first time in the program's history that taxes outweighed benefits for this group, a couple with average earnings."
The rest can be found at the link below: