Social Security and Medicare rip offs.

Social Security (SS) and Medicare (MC) are both paid for by workers during their working life. They were not designed to be welfare programs. However, they are both being treated by the government as if they were welfare programs.

The government pays disability to people who have not worked or worked very little. The government gives MD coverage to people who have not paid into the program.

However, for the people who have paid into the program, the government tries to reduce or delay payment of their SS.

If you consider that SS and MD payment is about 15% of a workers salary and that amount invested at 6% for 40 years would amount to well over $1,000.000 even at minimum wage, you will begin to see how we are being ripped off. Now you can get 3% interest in most any bank with a CD. This would amount to $30,000 a year in interest. This is almost twice what a person would get with SS plus they would have 1 million dollars in the bank to leave to their heirs.

The government is also changing the age for retirement so that you have to work longer to get less. The government also increases the annual amount that you have to earn before you don't have to contribute any more that year. These are just ways to get more money and pay you less.

Another way that the government rips you off is that they look at the MAGI on your 1040 tax return. This is the amount your earned before deductions. We live is a gambling state. We have casinos everywhere. So we gamble. If you get W-2Gs for winning a big jackpot, you have to report all you winnings on your 1040 as income. The amount of W-2Gs is usually overstated because on machines, you put money in to play and what you are paid includes the money that you put in the machine to play.

The IRS (government) requires that you list all your W-2Gs and all you winnings which is OK for taxes because you deduct your losses or the money put in the machines to determine your taxable income.

However, you do not get to deduct the money put in the machine or money lost for SS and MC. You will have to pay extra for MC as you MAGI increases. You can pay as much as $341.82 extra every month.

Your SS and MC should be not be adjusted because you paid into it and you deserve to get what you paid for. In fact, I would guess that the higher income participants paid more and receive less than the lower income participants because the higher income are probably more healthy.