Teddy, I currently live on $2000 a month, with a house and car payment. While I do have to watch my money, it is enough. The difference in those that draw SS is that they are generally of retirement age and have the additional cost of medical needs.

It was meant to supplement what you did on your own.

You are right on that. But many don't have even that extra to fall back on. Now what?

I can always use the extra money but I wish soc security would have kept the money to reduce the federal deficit. gwk8845

Feel free to write a check payable to the deficit....

Let's be honest here. SS was NEVER meant to be your ONLY retirement plan. It was meant to supplement what you did on your own.

Let's use some numbers. Say the government takes $400/month from your salary (averaged over your career!). You start working at 20 and retire at 65. The interest rate has to be relatively low since it's the government after all (let's use 3%) and you draw from SS for 20 years.

The amount of money that you have at 65 is about $500,000. Divide that by 12 then 20. That means that SS would pay you $2000 per month. That sounds like a lot if your house is paid for and you live VERY frugally, but alas, in most cases that is not the case. Most of us could not live on that.

SS is just one of your retirement paths. You will need to invest on your own in addition to SS in order to survive in your old age....*IF* SS is around anymore!!!!

The payout should be limited to the amount paid in plus interest or investment return. Not sure why the government stepped in to get in the business of handling retirement in the first place.

I can always use the extra money but I wish soc security would have kept the money to reduce the federal deficit.

whatelseisnew, where should "the Feds" get the 10,000 per baby?

"These 47% of our citizens include our senior citizens, veterans, and persons with disabilities. "

OK.

So - do these 47% pay any federal taxes? (regardless of the reason).

No. They do not.

So Romney's statement was factual.

My retired parents pay federal taxes every year.

"my father receives social security, and I can assure you...his standard of living is really LOW. I think it's shameful the way we treat our elders in the United States. For all they have done for us, and this is the best we can do???"

Well... you are a lousy daughter.

Is that all he has? SS?

And you are not helping him for all he has done for you?

So... what do you want the rest of America to do... pay you father's way? (BTW - theirs is the generation that are receiving far more than they ever put into the system)

But why complain to us.. that we are mistreating you father? We are putting up our tax money to assist your father.... but it is not our responsibility to carry him fully. More of that responsibility belongs to YOU.

These 47% of our citizens include our senior citizens, veterans, and persons with disabilities. Use your common sense in casting your vote for President Obama." Tarheel7074

You need to check your facts, my parents are retired and they are all of these except part of the 47%.......they still pay taxes unlike the 47% you are talking about.

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