Fun With The Heritage Foundation Social Security Calculator

[wellst0nev0ter]

http://www.heritage.org/research/features/socialsecurity/welcome.asp

If you enter that you are male and in your early twenties, it will say that you will give an average of just over $403,000 in Social Security taxes. If the retirement age is 65 and if you do the math, that means you paid about $9,000 in SS taxes each year.

Think about it, never mind the fact that you have to be earning $144,000 in order to pay that kind of tax, SS is supposed to be capped at $90,000 which means a maximun of $5580 is supposed to be deducted from your paycheck

What's even more ridiculous is when you report that you are earning minimum wage of $5.15 an hour, 40 hours a week and no vacations ($10,712 a year). Heritage projects that you are earning $77,000 a year based on lifetime SS taxes of $236,000.

And here I am thinking conservative think tanks were set up as counterbalances to the stiflingly liberal academic consensus. Silly me.

More fun at the Cato Institute

[EVDebs]

1. They outsourced this programming job to India where they don't have SS

and you get what you pay for. They obviously wanted these erroneous results !

[SHRED]

2. Ha Ha

Dumbshits!

Fire them an email and question them.

[Old and In the Way]

3. This needs visibility.

Another example of cooking numbers to produce the desired political result. Nominated for homepage....hope someone posts this out on the blogoshere....I'd suggest sending this to Talking Points Memo.....I am so sick of Republican misinformation. This is black and white....and very, very deceitul.

[wellst0nev0ter]

4. Oooookay, now I see what's going on

Apparently the model the calculator game is based on is an annual real income growth of 4%.

So that means if you enter the workforce earning $38,000 a year when you're 22, you are going to retire with an annual income of 210 grand.







Maybe in Dumbfuckistan.