@essmeir – if you took the amount you contribute to social security and invested it in, say, the S&P 500, then purchased an annuity at retirement, you’d almost definitely do significantly better than the amount you’d get in social security benefits.
As my accountant explained to me – someone who is not self-employed and works outside of the US CAN NOT pay social security, and will not get benefits – that’s how the system works. Having someone set up a non-US company so that one is an employee is a completely legitimate way to avoid the need to pay US social security – and for most people, the idea of paying an additional 15% of income for a potential future benefit, on top of the 15% paid as Bituach Leumi, is just unaffordable.
an Israeli Yid