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From: devine@asgb.UUCP (Robert J. Devine)
Newsgroups: net.taxes
Subject: Re: Re: SS deduction
Message-ID: <668@asgb.UUCP>
Date: Thu, 2-May-85 14:46:56 EDT
Article-I.D.: asgb.668
Posted: Thu May  2 14:46:56 1985
Date-Received: Sat, 4-May-85 06:49:47 EDT
References: <5762@duke.UUCP> <121@pyuxh.UUCP> <632@ssc-vax.UUCP> <434@hou5h.UUCP> <2136@sun.uucp> <2377@mit-hermes.ARPA>
Organization: Burroughs Corp. ASG, Boulder Colo.
Lines: 16

> > In article <434@hou5h.UUCP> mgh@hou5h.UUCP (Marcus Hand) writes:
> > >Furthermore, these people have contributed to the SS pot through their
> > >working lives and have a RIGHT to expect the promissed payout. 
> 
> Another point that hasn't come up yet is that Social Security payments (and,
> of course, taxes) increased grossly in the 60s and 70s. The result is that
> retired people whose working lives were mostly earlier than that recoup their
> total lifetime payments in very few years--and they can expect to live for a 
> decade or two. After that it's all gravy.

  The person who got Social Security check #0000001 had made only one
month's contribution to the fund before receiving payments.  The numbers
I remember are:  contributions = $20 payouts =~ $20,000.  She lived to
collect about 15 years of Social Security checks.

Bob Devine