Copyright AmeriCareToday 2009 Lifted seniors out of poverty Takes more of workers paychecks The Good The Bad The Ugly Retirement assets into retirement debt www.aarp2.com AARP2 - All About the Rest of the People Too S o c i a l S e c u r i t y 1 G e n e r a t I o n a l C h a I n o f T r u s t The More You Make The Less Percent You Pay $106,800 12.4 % 2 % $3,000 $13,243 $60 Exempt from Social Security tax Subject to Social Security tax Every year a Social Security wage cap is established 15 % 20 % 30 % I ‘m Here To Help You Social Security - A Taxing Pacman $288 $2,631 $9,449 $13,243 $4,800 $25,900 $76,200 $106,800 Your wage, the SS wage cap, and your retirement check 1970 Greater by 20 % 2010 $39,423 $106,800 Only 37 % Average Annual Wages SS Wage Cap 1990 Only 56 % Social Security Retiree Benefits $9,350 $7,800 Average wages greater than Social Security wage cap Maximum Social Security benefits at retirement Diminished Social Security benefits at retirement time Your Social Security retirement benefits are diminished It’s The Plan 46% $28,930 108% 209% 558% $51,300 Wages up 322% Wage cap up 1269% 1983 – The Year Social Security Turned Ugly $1 Of SS Retiree Benefits Out $1 In $1 Out PAY AS YOU GO $1 Of SS Tax Money In The Retirement Plan Maximum Special Obligation Bond Debt Prior to 1983 35 Billion Dollars IOU Social Security Going Bankrupt $5 Of SS Tax Money In $4 Of SS Retiree Benefits Out COVER UP DECEPTION DECEIT Shown as an asset on the Social Security trust fund balance sheet Same retirement dollar shows up as income on the general revenue fund ledger PERCENT SOCIAL SECURITY GETS WAGES SUBJECT TO SS TAX They’re good as gol d Some Benefitted From This Financial Affair What about those SOBs? Wars Tax Cuts Earmarks Political Candy Jar Why did you take our money in the first place Because you weren’t watching Financial Affairs Are NOT Cheap It Sounded Fair We Stole The Money IOUs The wheels are coming off $2.6 Trillion Asset Finance Wars Fund Tax Cuts Pay For Earmarks $2.6 Trillion Debt Need Our Money Have NO Money WHO PAYS THIS TIME?? A 5 .2TRILLION DOLLAR NET LOSS Social Security Trust Fund Reserve General Revenue Fund Account 3,942,000 We Stole 2.6 Trillion Dollars There Is A Better Way www.aarp2.com A $26.95 Real Retirement Investment Radio show – every weekday morning 9AM (eastern) http://bit.ly/kAdSM0 All About the Rest of the People Too We can do something BIG We can do something HARD But only if we do something TOGETHER Won’t Back Down www.aarp2.com We are Americans