Wednesday, June 29, 2011

You Get More than You Give

For all those grumbling about Social Security and Medicare, the fact is that most Americans will receive more in benefits from those programs than they paid into them. A dual-income couple with average wages ($43,500 each) who retired in 2010 at age 65 will receive $906,000 in Social Security and Medicare benefits, having paid $704,000 into the system over their working years. A couple retiring at age 65 in 2030 will receive $1,226,000 in benefits, having paid $971,000 into the system.

So shut up already.

Source: Urban Institute, Social Security and Medicare Taxes and Benefits Over a Lifetime

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