We all like benefits but look at the intervention required to provide those benefits. If you believe that intervention only applies to other people (i.e., rich people), let’s examine that assumption. Let’s make it personal.
Take a look at your last paystub. You know your “take-home” pay. Yes, that’s what you have to support your living. But, now look at the top line—gross pay. That’s not quite everything you should get. Add to that figure an amount equal to your FICA deduction (that’s the amount your employer must pay “on your behalf.”) You should also get the amount the employer saves by paying you with “benefits” rather than cash. We will ignore that amount for this example because it is too hard to calculate.
The cash you get paid should amount to your gross pay plus the employer’s portion of FICA (at least.) The difference between that amount and your “take-home” pay gets taken from you by force.
That’s right; by force. You cannot have that money paid directly to you.
On that list of deductions, you probably see deductions for items that you might pay for yourself. Even so, you have no choice. You cannot choose not to get the “benefit” if you don’t want it. You cannot acquire any of those “benefits” from another source if you wish.
Next, I will address what probably amounts to your largest involuntary payment — Social Security (FICA).
