JD, you are correct, self employed did not have to join, but I did say anyone that contributed on 40 quarters of income would qualify at 62 years old. Neverthless, I would have to ask why would, all those self-employed, farmers, ect that chose to never contributed to the system, believe they should collect anything from it ? When SS started out it was taxed 2% of income, half paid by employeer and half by employee. Now it is 15.5%, I think. You are correct that during the late 70s early 80s inflation was hi, but so were interest rates. SS contributions and benefits more or less kept up with inflation during that period. The biggest payroll tax increase ever was when they "saved SS" in the early 1980's. My grandpa, a farmer, retired in 1968 at 65 years old. He said it took him about 2 years to withdraw every thing he ever contributed to the SS system. He lived to be almost 98. He thought the inflationary period in the 70s and 80's were the good times. He had certificate of deposits paying 17 and 18%. e
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Today's Featured Article - Uncle Cecil's Super A Lives Again - by Mike Purcell. A week or so out of most of my childhood summers was often spent with my Uncle Cecil and Aunt Sissie in the small East Texas town of Maydelle on their 80 acre farm. Some of my fondest memories of these visits are those of learning to drive a tractor at the helm of Uncle Cecil’s 1948 Farmall Super A. Uncle Cecil was the second owner of this wonderful little tractor, but it was almost as though he had adopted an infant. The original owner was a man from Minnesota who bought her from a local dea
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