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Is Social Security Like Welfare? In a way, yes.
Social Security recipients often say, “I’m just getting back what I paid in.” But is that true? Patrick Watson explains most beneficiaries get back far more than they ever contributed in their working years (assuming they live to collect for seven years according to other studies). Essentially taxpayers are subsidizing the elderly because the program has scarcely been adjusted for increased life expectancy. Read more…
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