Nobody is going to be cutting SS benefits.
Hell, the Dems are out on the stump promising to INCREASE them.
They’ll tax anything and anything rather than get their political heads handed to them on this issue like GWB did.
worst political advice ever
I reach age 66 early next year. I have had a substantial income in IT so my benefits will be hefty, especially adding in my wife’s SS (half of mine). And it’s not taxable.
And living, now in Kentucky, with real estate taxes so low they are practically non existent, and the house and property paid off, we can live pretty comfortably on that. Absurdly so, actually.
But I am pretty adamant about beginning benefits while Trump is still president. Who knows what kind of crazy stuff his replacement will try.
1) Allow people to opt out. If you're still working you can opt out of paying into it from now on, knowing you'd have less SS benefits in the future.
2) Allow people who've already paid into it get their funds out, perhaps with some interest. Again, no future benefits.
Few people will stay into it, so nothing is "taken" from them. Most people will opt out/cash in. This will be a huuuuge cost up front, but it's do-able and IMHO a much more bearable pain than letting it get bigger & bigger forever and ever. The SS trust fund now has $2.9 trillion (as of end of 2018). How much is needed to payback to everybody who already put in?
Here’s an idea - why don’t we let in at least 100,000 unskilled, uncivilized, illegal parasites each and every month from anywhere in the third world?
That should make things better!
When an article starts off with a lie, the rest is suspect. Social Security failed to live up to its initial promises. It failed to live within its initial tax rates. The author must love give-away programs.
>>>Social Security is our nation’s most successful social program<<<
Flawed Premise in the very first sentence...
It’s not a social program.
It’s a vote-buying Ponzi scheme.
That, my FRiend, was only foreplay.
But, but we were promised! Way back in 1964!
https://www.ssa.gov/history/ssa/usa1964-2.html
Self-Supporting
“The program is designed so that contributions plus interest on the investments of the social security trust funds will be sufficient to meet all of the costs of benefits and administration, now and into the indefinite future—without any subsidy from the general funds of the Government.
Both the Congress and the Executive Branch, regardless of political party in power, have scrupulously provided in advance for full financing of all liberalizations in the program.”
And here is where your money went. Read and weep.
https://www.ssa.gov/OACT/ProgData/fundFAQ.html#n4
LOL! The next 75 years???!?
A lot can happen in 75 years:
“Social Security is our nation’s most successful social program...”
How does the author define “success”? What was supposed to be an investment has become a total Ponzi scheme and it’s going (gone?) broke. Hardly any of us will even recoup the money we’ve put into Social Security, much less reap any interest from our investment.
News flash: SS will not be fixed until members of Congress are in the SS system. Then, and only then will Congress end their partisan games and work on a solution.
Trump said he would NOT cut Social Security - and the Motley Fools are liberal democrats... so this is BS...
Trump doesn’t have the authority to make any changes to social security
This is being questioned by leftist mainstream media clap trap as part of an overall narrative
That said changes are a common just not in the Next decade
If there a short fall in funding we’ll MORE THAN MAKE IT UP BY DUMPING THE DAMN ILLEGALS OUT OF OUR COUNTRY.
We need to begin phasing out SS, the way to do that is to means test all current recipients and all new applicants for the next five years and then stop taking new applications after five years.
End the tax and shred the bonds in the “Trust Fund” and pay for those still in the program from the general budget until they all die.
When is welfare going to be bankrupt? Or refuge funding?
SS retirement age should be lowered because I look at it as a tax cut and not an income device. THE GOP has made it so it looks like I will have to work until I die.