A common motif on the American left is that Social Security is not an investment, it is insurance, as are pensions offered by the state to their employees. It sounds good, but it shows a deep misunderstanding of what insurance is. This mindset and lack of what insurance actually is probably also contributes to our …
Tag Archives: Social Security
The Future of Social Security
If you don’t know how OASI works, please read my first article in this series, How Social Security Works. It should be common knowledge by now that Social Security has a massive surplus. This money is borrowed by the government as one of the largest parts of our government debt, accounting for over $2 trillion …
How Social Security Works
Social Security Old Age and Survivors Insurance is a program which every American who makes wages pays into every year of their life. Social Security takes 12.4% out of every paycheck in the country, for the pinky promise that you will receive some benefits when you retire. There are a lot of myths on how …