It wasn't a straw argument
Originally Posted by Longermonger
Hmmm, maybe Brome or Alfalfa then...
"Between December 1974 and her death in March 1982, Rand collected a total of $11,002 in monthly Social Security payments"
"Medicare was created in 1965. It's hard to tell if she took out more than she paid in. My guess is yes, considering the short time between when it was created and when she would have started drawing."
Nice
switcharoo....but lets keep the apples and oranges in different bowls.
Assuming the $11,002 (which is unsourced) is true, lets look at this using
Social Security. Is it possible that between 1937 and 1974 (37 years) she contributed more than $11k?
1937-1950 tax was 2%
1950-1956 tax was 3%
1956-1961 tax was 4%
1961-1972 tax was 9.2%
1972-1974 tax was 9.9%
A weighted average for her SS tax over her working life would be 5%. So, over a
37 year period, is it reasonable to assume she made $220,040...or less than 6k per year. I dunno. She was involved in books and movies, which tend to make one a little bit of money.
Of course its not quite that simple. If the government hadn't been confiscating her income, she could have invested it herself. How much would she have had to invest (at 3%) each month to accrue $11,002?
$13.55....per month....a total of $6,016 could have been invested, to get her back the $11k when she retired. $13.55 a month would be 5% of $120,320 over 37 years, or $3,251 a year. I think its likely she made that.
I don't see her as a hypocrite (and for the record, I haven't read her books).
But so what....is this bit of trivia supposed to make us forget that SS is now in the RED. Even if Rand had not contributed one red cent to SS, it would not change this. It needs fixing; and, it is tiring to see those with ideas on how to do that get branded as 'radical'....as Paul Ryan was just branded by our President.