All kinds of famous people have died since the beginning of this year, including actors and actresses whose movies I tend to connect with various stages of my own life. Now it’s gotten to point at which my age-peers are starting to add their names to the list.
Like Sandra Dee.
Look at me. I’m Sandra Dee.
No, not really. But I liked her anyway. Hell, she married Bobby Darin!
Sandra Dee. Dead at 63.
The following offered to you by non-blogger myrln:
Among Dumbya’s usual lies, half-truths, distortions, and scare tactics about Social Security is the point made about how in 1940 there were 40 people to meet Social Security payouts for 1 person but in 20xx, there will only be 2 for every 1.
“Horrors,” we’re supposed to think, “my salary will be cut drastically for these SocSec recipients (or sponges).”
Well, Dumbya’s 20xx number may be right, but you know what? There’s a simple explanation which demonstrates there’s no “horrors” necessary (save about his usual distortion of the facts).
Below is a breakdown of Social Security facts and figure in two columns. Column One lists figures for 1940; Column Two for 2002 (last year I could find complete figures for). Within each column are the numbers for the item listed at the left. So first, take a look at the info. (Some items have been rounded to whole figures.)
……………………………………………………….1940……………2002…………..
1) Average Annual Income………………..$1,299…………$36,764.
2) Average Monthly Income………………$108.25………..$3,063.67
3) SocSec Tax Rate…………………………1%…………….6.2%
4) Annual SocSec Tax……………………..$12.99…………$2,279.36
5) Monthly SocSec Tax……………………$1.08…………..$189.94
6) Avg Month Soc Sec Payout…………….$22.71…………$895.
7) Indivs. needed to meet payout…………..21…………….4.7
The point should be clear: yes, there are fewer workers meeting the payout in 2002 than there were in 1940 — not because the system’s in trouble but BECAUSE SALARIES ARE 28 TIMES HIGHER
Therefore, fewer input people are NEEDED per payout recipient. Granted, payouts are 39 times higher and the tax bite 6 times higher than in 1940, but there are still fewer people needed to meet the payout, and it will continue that way because, barring a depression (other than our daily one about Dumbya), salaries will continue upward (until they outsource all jobs). One would think Dumbya would be saying, “See, that’s a sign of a healthy economy,” but that’s another story.
One would also think the dimbulbs in the national media might have worked out the same numbers.
Any questions? See me after class.
Any holes in my analysis, please tell me. Otherwise, feel free to distribute material as widely as you like.
EDITOR’S NOTES:
1. As my dear departed Dad used to say “Figures don’t lie and liars don’t figure.”
2. If you find an errors in this assessment, please leave a comment here for myrln.