🚀 go-pugleaf

Ethan Dicks <erd@kumiss.cmhnet.org> writes:
>FICA payments come from employee "contributions" and from matching
>contributions from the employer.  "Self Employment Tax" is FICA, only
>you pay *both* parts.
>
>Take what ever you are paying (~7%-9%, I forget exactly what) and add in
>an equal amount from your employer.  Now kiss it goodbye, because anyone
>under 50 ain't gonna see it come back :-(
>
>-ethan

Unfortunately, I'm afraid you're right.  I have been going under the 
assumption that, when my time comes to retire, there will be no Social 
Security.  I will try to support myself with IRAs, investments, retirement 
funds, etc.  Don't expect your kids to take you in, they'll probably be 
living with you (and you will be supporting them).

And now we hear that the Clinton administration is proposing to push back the 
retirement age so that they won't have to pay out so much Social Security.  
If the trend continues, by the time I "retire", the retirement age will be 
90!

Rick Kitchen
kitchenrn@ssd0.laafb.af.mil