If we just uncapped social security contributions this wouldn’t be an issue. This is a manufactured crisis to convince people that socialism doesn’t work and we should go back to barbarism.
Exactly. SS is the easiest problem in DC to solve.
They don’t have to remove the cap, just raise it. Right now, it’s around $167K. Just raise it to $250K, or $500K, or $1 million. That would make it solvent again for decades.
we could just remove the cap and never worry about it again for as long as we can avoid dying from extreme weather
Perhaps, but I like the idea of raising it incrementally, because then we get the chance to watch the super-wealthy cry about how the poor get all the breaks.
Someone post the story so I can get around this paywalled bullshit.
Do I get to pay 24% less social security tax?
Hehe. You know the answer to that.
You need to be rich enough to qualify for the tax cuts I guess
That’s the shit that gets me riled up. Maybe it’s a bad take, but if social security is shrinking and won’t be there for us when we reach retirement age, government should get their fuckin hands off my paychecks. Why do we have to fund billionaires and their toxic yacht tendencies? Why the fuck do they need a dollar more??
The only reason SS wouldn’t pay out is if you don’t qualify or it is repealed (or they break the operations so it doesn’t work). It will be there when you retire at a reduced rate. If we uncapped the SS contributions the that problem goes away.
I wish that were true. But it’s getting sabotaged, one little bit at a time. Death by a thousand cuts.
That depends on when you’re retiring. The money is running out, period. The fact that its running out in the 2030s isn’t news (the article even states this hit to SS only changes things by a year), and that payments will be reduced is true. But a 50 year old will get that radically reduced rate, but get something. A 20 year old really doesn’t have that guarantee, especially with how freely the rules can change by the time they hit retirement age.
We’re at the tipping point, so of course there’s a lot of upheaval about it, but there really hasn’t been a definitive plan (let alone a good one) on how to change this predicament so that resting on “you’ll get something” seems optimistic at best.
The only way money is running out is if people stop paying into the system altogether. As long as people pay into SS there is money to distribute.
https://www.cnbc.com/select/will-social-security-run-out-heres-what-you-need-to-know/
https://abcnews.go.com/Business/social-security-fund-run-dry-sooner-previously-expected/story?
https://www.newsweek.com/social-security-running-out-money-trustees-report-2087749
I did a quick Google search, and this is just a random sampling of the results. What you are saying is false. Period. I don’t know if you’re intentionally lying or not, but it’s frankly embarrassing to see someone try to argue against reality.
From the first article:
Social Security will still exist after 2035, according to the report. But without congressional action, retirees will only receive 83% of their full benefits.
Insolvent doesn’t mean it goes away, it means reduced payment.
Please don’t attack my intellect without comprehending your own sources.
Lol
Whatever dude
if you did would it allow you to cover expenses in retirement?
Retirement… HAH!
(That’ll never happen for me)
Thats what I mean. Losing a quarter of what is inadequate to pay bills is going to be worse than the taxes on you job barely paying bills now being slightly lower.
I’m not disagreeing. I was adding my anecdotal example as agreement, with a side order of snark
Why do the rich want more money? What does it get them at this point?
It’s a mental illness, like hoarding. Most people know when to quit, but these people don’t, and that’s because they have an abnormal compulsion to keep accumulating more, even though they already have more than they or their descendants could ever spend.
We shouldn’t let our nation and planet go to Hell because everybody is afraid to force these Psychopathic Oligarchs to take medication for their mental illness, or even say No to their unreasonable demands. The result is that we end up with people so wealthy that they can finance their most psychotic fantasies.
I agree with all of this, just want to add a little bit: these treated fucks are literally offended that we have anything. Because then we don’t “remember our place” or whatever.
Anything we have, is something they don’t have, and their mental illness compels them to want to own EVERYTHING.
Let’s say you didn’t know you were going to be well off. You paid into SS like everyone else. Later in life you find yourself worth a few millions for whatever reason, maybe a lifetime of good jobs work and wise investing. You don’t get any money back? Unfortunately a lot of people will call a few million after a lifetime of work and investing “rich.”
Now if you’re worth many tens or hundreds of millions or more, or you were born into wealth, maybe getting SS shouldn’t really be on the table.
Psychopathy.
I’ve got a hot take, this is what happens when a country model itself to the Roman Empire. Yes, they have got civil codes and institutions impressive for “civilised society”, but the society is based on slavery, was well known for decadence and last but not least-- imperialism. Notice that countries that took inspiration from Roman Empire end up collapsing. Britain, Germany, France, Italy and Russia had empires and collapsed, and soon the USA. Imperialism carried over to these countries that tried to claim to be either the second or third Rome, or another “shining beacon on the hill”. What end up happening is bloated bureaucracy, growth of cancerous decadent oligarchy and overextending its power. Why not just try to be humble and be like small countries, such as Switzerland or Ireland? They have no rabid, overcompensating collective egoism that try to beat everyone else, and going on false pretense on “civilising” the natives to merely acquire resources. Or, try to be China in any form, just don’t expand and simply do its own thing by being the centre of trade and commerce by virtue of its own size and abundant resources.
Feel free to disagree, but growing up in post-colonial country, I can’t help but criticise the Roman Empire and the West’s obsession with it. I always think that the long dead nation of Rome is overrated for aforementioned reasons.
You’re probably correct in your assessment, but the bottom line is that ALL countries eventually collapse, no matter what model they adopt. Even those that claim an ancient lineage, like China, have reinvented themselves multiple times, just keeping the name.
Smaller societies tend to last longer and more peaceful. Switzerland and Scandinavian countries have been in any wars (barring with the exception for the latter of course during World War II) in 200 years because they have no appetite for it. Many other ethnic groups in South East Asia and Africa have not been in wars either for as long as anyone could remember (there are exception of course if they get caught in a wider conflict like World Wars, etc).
Fair point about China. But what is interesting is that their pre-20th century history and identity is tied to whichever was the ruling dynasty at the time, some of whom are not Chinese but adopt the overall Chinese culture, identity and institutions; although at times impose some of their own culture and customs to the locals but not so much. It isn’t the same as in Europe and elsewhere, where the cultural identity changes if foreign armies invade.
America’s fall isn’t too much different from the Roman Republic’s own fall. Trump wants to be Caesar and he will probably get betrayed pretty soon like Caesar considering all the Epstein stuff.
Brought down by his own allies. It happens more often than people think. Many world leaders have been assassinated by their own side, or even highly trusted associates.
Power.
The rich aren’t getting richer by not being handed over your money in the biggest transfer of wealth ever.
America got F-U-C-K-E-D over good by Trump. I’d expect nothing less from a vile human being that rapes 12 year olds, but that’s just me.
He said 12 is too young for him. Much more correct to say 13 year olds.
So suddenly I can’t check on ssa.gov because they’re “having problems” but the last I saw I had already contributed over $180,000 and I’m in my mid-40s. There’s a high probability I won’t see a dime. That’s $180K that I could have had in an IRA or other retirement account working to my benefit.
I was all for Social Security when I knew one day I’d be able to partake in it too, but with everything going on, fuck that and give me my money back.
I was all for Social Security when I knew one day I’d be able to partake in it too, but with everything going on, fuck that and give me my money back.
Mission accomplished. SS is one of the most successful government programs and we can’t have that!
That’s why the cons do everything in their power to call it into question.
Same thing goes for things like the USPS and public education…the cons keeping fucking with, and trying to demonize those as well.
Yeah checked mine as well, guess Big Balls broke the database while they were making copies for DOG-E.
Vote for republicans and suffer the consequences.
Magats will blame Biden and the MSM won’t say a word.
By the time I retire, social security will be negative. Turn 79.5, you pay them $500/mo.
I genuinely would like to know what portion of social security recipients voted for this or did not vote.
I guarantee a majority of them voted for this. Especially the retired portion
My parents did, are currently receiving SS checks, and are still in denial about *everything*
My father, who never saved a dime in his life and will be fully dependent on social security in retirement, voted for it and thinks this is the best thing to ever happen to America. Gonna be a wake up call when he can’t ever afford to retire.
Gonna be a wake up call
Sadly I don’t think that will be the case.
“Why did Hillary/Biden/Obama/Kamala do this to me?”
And don’t worry, it’s going to be your fault that this is happening to him.
4 years after he’s safely out of office, at which point they’ll blame the Democrats.
