A study by The Senior Citizens League (TSCL) finds that older Americans who retired before 2000 would have to earn an extra $516.7 more per month or $6,200 more this year than what they are currently getting to maintain the same level of buying power as in 2000. Many retirees have accrued debts which cannot be …
Category: Social Security Impoverishes
Dec 29
An average worker pays $216,000 into Social Security and receives about $300,000 after retirement. This is a 1 % return on investment.
Learn Liberty calculated average likely “returns on investment” upon retirement from Social Security. The Social Security program was launched by the U.S. government during the 1930s with millions of dollars of pro-government propaganda. (Criticism of the program within the federal government was censored.) During the 1980s, Harvard economist Martin Feldstein found that Social Security DECREASED …
May 16
Half of Americans are one paycheck from financial disaster
Government policies such as progressive income taxation, central banking and Social Security aggressively punish savers. And year after year, Americans reluctantly submit by saving nothing and investing very little. Now a new Marketwatch report shows that 50 percent or more of Americans are just one paycheck away from serious financial disaster. Roughly two-thirds of households …
Oct 13
Government programs will push millions into poverty in old age
A new study predicts that 40 percent of “middle class” Americans will likely live in poverty in their later years. Social Security and Medicare both incentivize Americans to save less, work less, and invest less. Harvard studies (which are likely quite conservative) suggest that Social Security alone caused the U.S. to be at least 3 …
May 18
Social Security impoverishes: One-third of Americans have less than $5,000 saved for retirement.
A new study by Northwestern Mutual finds that one-third of Americans have less than $5,000 set aside for retirement. 21% of Americans have no retirement savings at all. SOCIAL SECURITY TO BLAME Many workers don’t save for the future because they assume they can live on Social Security. But that’s a dangerous, misguided assumption. In …
May 03
New Report: 1 in 6 seniors are millionaires
An astounding new report about American demographics has been summarized by Bloomberg News service. See here. Average wealth for retirees has risen more than 100 percent since 1989, to $752,000, and the share of those who are millionaires has doubled. Also, more retirees—62 percent—are enjoying life without physical or cognitive limitations, according to the data. …
Feb 04
Tens of Thousands of Seniors Now Live as Low-Wage Nomads in RVs, Vans and Trailers
If you save anything in modern America you are an utter fool. Near-zero interest rates, high taxation, central-banking-driven inflation and other government policies have robbed an entire generation of wealth in their later years. Social Security further robs the poor of their nest eggs, incentivising people to save less, invest less, and work fewer total …
Oct 23
U.S. Life Expectancy Declining under Cradle-to-Grave Government
by Roger Roots, founder of Lysander Spooner University Governments want their subjects sick, weak, scared and dependent. Every generation of Americans has seen its life expectancy improve. Until now. A new Bloomberg News report finds that Today’s Americans are retiring later, dying sooner and sicker in-between. Social Security alone has incentivized millions of Americans to …
Jun 20
24 % of Americans Do Not Have a Single Dollar Saved for Emergencies
Study upon study shows that the American people are increasingly saving little or nothing in response to government policies. If you save anything in modern America, you are an utter fool. Near-zero interest rates, Social Security and Medicare incentivize Americans to save nothing. “About 1 in 4 literally have no emergency savings. A survey released …
Jun 02
Almost half of Americans die broke in response to government policies
Years of government policies which punish saving, investing and working have taken their toll. USA Today reports that 69% of adults have less than $1,000 in the bank, and 34% said they actually don’t have any savings at all. And a study by the National Bureau of Economic Research found that almost half of Americans …
