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To: DannyTN
If Trump promised to recalculate the inflation indexes that Social Security increases are based on, and to pay retoactive adjustments for the amount the indexes were understated, he’d make a major hit in the democrat’s base.

If Congress did that without a substantial increase in the payroll tax, you would see a 20% cut in your benefits within 10 years.

Even if nothing is changed at all, you can expect a 20% cut around 2034. That's when the Trust Fund is expected to be exhausted and by law, Social Security benefits must be lowered to what can be funded by the payroll tax.

28 posted on 10/19/2016 11:33:00 AM PDT by justlurking
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To: justlurking

If Trump gets the economy going again, and brings back jobs from overseas, you’ll see a big rise in the amount of payroll tax brought in because more people will be working. \

That was one of Trump’s early claims that he would save the benefits programs by getting the economy going so that we could afford to pay for them.

Cheap imports that only pay 1% tax or less don’t fund social security even as they the coffers by putting Americans out of work.


39 posted on 10/19/2016 11:40:39 AM PDT by DannyTN
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To: justlurking

If Trump gets the economy going again, and brings back jobs from overseas, you’ll see a big rise in the amount of payroll tax brought in because more people will be working. \

That was one of Trump’s early claims that he would save the benefits programs by getting the economy going so that we could afford to pay for them.

Cheap imports that only pay 1% tax or less don’t fund social security even as they the coffers by putting Americans out of work.


40 posted on 10/19/2016 11:40:42 AM PDT by DannyTN
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To: justlurking

“around 2034. That’s when the Trust Fund is expected to be exhausted”

True, but there’s a serious immediate problem: the government will start selling bonds to ‘pay back’ the SS fund much sooner- maybe this year, not sure.
Those bond sales will be in addition to the bonds the government sells for it’s usual reasons and will increase the government’s interest costs because of the increased supply.

I just don’t believe the actuarials have accounted for the effect of this.


43 posted on 10/19/2016 11:45:21 AM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
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