Friday, February 02, 2007

Social Security ripoff – Coyote Blog does the math and finds that if Social Security taxes were placed into a very conservative account with a 5% return, it could purchase an annuity at retirement that pays four times what Social Security offers. “Fine, let's call it a retirement program. Well, as a retirement program, it is a really, really big RIPOFF.” (Hat tip: Willisms)

1 comment:

Anonymous said...

When I worked for Travelers Insurance Co of Canada we provided PRIVATE PENSIONS to cover the Canada Pension Plan. The Canadians got a lot more bang for their bucks.