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    caballo78's Avatar
    caballo78 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jan 17, 2009, 01:45 AM
    Will "social security" and "medicare" exist when I retire?
    Everyone that has an opinion on the subject says that it won't exist when I retire, in about 35 to 40 years. Do you think that is true? Does a university have to pay into FICA? Do I have to pay into FICA? If not, how do I get it to stop and possibly get backwhat I have paid in over the 15 years I have been working?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
     
    #2

    Jan 17, 2009, 03:45 AM

    You are paying FICA for those who are getting benefits now. So you must pay.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jan 17, 2009, 08:21 AM

    You are required to pay in, and can never get the money out , it is no longer "your money" it is the governments money now.
    So the next 10 years of your payments are most likely already spent. There is no bank or account where this money is setting. It is spent faster than it is paid in.

    So do you think our government will exist in 40 years, will it turn into a socialist state. When workers may have to pay 50 to 60 percent in federal taxes when will they revolt. When will they sell Mount Rushmore to pay off debts

    I see more of a future with nationalised medicine for everyone, medical treatments will be controlled by need and somewhat limited from getting to go anytime a person wants.

    So no one really knows, but you are stuck with what we have for now

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