I and my employers paid about $285,000 into Social Security.
I started drawing mine this year at age 62. If I live to be 85, assuming a 3.5%
cost of living increase each year, Social Security will pay me around $945,000.
That's an increase of 232% over what was paid in.
Now...tell me why some people think that no changes need to be made to Social Security.
When Social Security was started, the average male life expectancy was 60 years.
The retirement age for Social Security was 65.
The assumption THEN was that many people would DIE before they could get their Social Security.
Male life expectancy now is 82 years.
NOW, most people are expected to draw Social Security for 20 years or more.