Quote:
Originally Posted by charlie g
Ya, but didn't these old timers pay into the system for 30-50 years before they got OLD?
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Doesn't matter. The money they paid in paid for the old people back then. Your FICA taxes don't go into some account with your name on in and is saved for when you retire. That's not how the system works. CURRENT workers pay for CURRENT retiries. So since I'm paying for grandmas medicare I think I get more of say. Grandma pays in by getting some money deducted from her SS check. Of course that money comes from me too. So I'm actually paying TWICE.