Social Security

Social Security operates much like a Ponzi scheme. Current recipients’ benefits are paid by new money from current workers.  You do not have ownership of your benefits, and the Government decides how much you are paid and when. Currently you pay 6.2% and the employer pays 6.2% for a total of 12.4% of your income. This is split, 10.03% goes toward The OASI (Old-Age and Survivors insurance) trust and 2.37% goes to DI (Disability Insurance) trust.  

• Current program, Tax exempt Social Security Income at all levels
• Transition the OASI trust fund to individual retirement account with owner property rights.
• Thrift Saving plan Life Cycle Fund as a framework
• The DI Trust would remain separate