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skilliard7 t1_jc2g636 wrote

Reply to comment by warren_stupidity in [OC] US Social Security Fund History by PM_Ur_Illiac_Furrows

When social security was first created, the retirement age was later than the life expectancy. It was insurance against outliving your retirement savings, not intended as a primary retirement plan

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ktxhopem3276 t1_jc2hwnf wrote

But the tax rate used to be a lot lower due to that. We raised the tax rate form 3% to 12% bc people wanted longer retirements. Also, infant mortality plays a big role in increased life expectancy but doesn’t effect retirement

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warren_stupidity t1_jc3f0gf wrote

I’m so glad we improved the program back when we thought government ought to serve the people.

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skilliard7 t1_jc3g8gy wrote

Being robbed of 12.4% of my income for a ponzi scheme that will be insolvent in 10 years seems like it's really serving me /s

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