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What About THIS "Retirement Plan"? -- Feedback/Discussion Appreciated**

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posted on Oct, 12 2007 @ 04:08 PM
Okay, so we all know that social security is a JOKE right? Seeing as how you pay into it your whole working life and then likely end up with 400 bucks or so a month from it when/if the time comes, it could hardly supplement ANY kind of income.

That being the case, how about this?

Since the government so adamantly requires us to pay them an illegal income tax, why not appease those of us who actually TRY to play by their rules and set each of us up with a legitimate "retirement" account?

How about this?

I received my check today and my gross was $721.16. Of that, $219.29 was federal income tax.

That being that, how about completely ABOLISHING social security, keeping fica and leaving the state taxes EXACTLY where they are. Then, take 40% of what the government takes from us each pay check and put it into a fixed interest baring account that is personalized for US. Then, the day you turn 60, you have FULL access to the account to do with as you please. The interest could be fixed at, say, 9%.

That way, the government is providing ABSOLUTELY NOTHING for us (which they HATE doing unless you don't deserve it) and we are providing totally for ourselves in our old age?

I think this could work very well as long as it was kept legitimate.

If we happen to die before we are able to collect, the balance could be passed on to our next of kin.

What do you guys think?

I know, if this were the case, I wouldn't be so mad everytime I see that that federal income tax line on my pay stub. If some of that money was going toward my future, I might actually grow to appreciate the federal income tax. I know one thing, I'm sick and tired of 20% of my check going to the Federal Reserve CROOKS.

What ya think?


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