week 10 blog

1. Do you feel that our social security tax is a good tax to impose one everyone or do you think it would be better to drop the tax completely?
I think this is a good question to ask someone because there is a lot of money being put into social security each year and many people realize it won’t be there when they are going to retire and feel that they could make better use of that money if it was theirs to invest.
2. How do you think the government should resolve its problems with social security?
Many people think that the government should drop social security all together. Others feel that maybe it would be better to raise the tax, or just change it.
3. Do you think it would be safe to rely on your social security for retirement or do you think a separate retirement fund is needed?
Most people today do not even think of social security when planning for retirement because most people realize it probably won’t be around a whole lot longer and if it is, still around by the time they wish to retire, they probably will not get enough money back to live off of.
1. Do you feel the government is better at managing your money than you are?
Many people have a knack for not being able to manage money, while others feel the government has a knack for blowing money like it is nothing. I like this question because there are people who can relate to both sides.
2. Do you think it would be difficult for you to receive anything greater than a -1% return on your own retirement plan?
This question is pretty self explanatory, if you were to take the same amount of money the government deducts from your check, put it in a coffee can and bury in your back yard, you would get a better return on it than you would if you give that money to the government.
3. Will you rely on social security for your retirement?
Many senior citizens are relying on social security right now, unfortunately the money they are getting is barely enough to live off of anymore. Most people now do not plan on relying on their social security for retirement but I still thought it would be a good question to get people thinking.
4. Do you think that people should have an option of whether or not they want social security?
Some people believe it would be a good idea to revise the social security tax and give people the option of whether or not they want to be on it.
5. What percent of your income do you think social security takes out?
Most people believe that somewhere around 13% of your income is put into social security, you pay half and your employer pays half, however, when it’s an employer’s market like it always has been the tax is actually divided up unevenly and almost ¾ of the tax is paid by the employee… even though it looks like it’s getting divided evenly.