Don’t worry, all the illegals and migrants will come to our rescue. They love us!
I got mine.
- They will extend the FICA tax to every last penny of income.
- They’ll impose a Tobin Tax on Wall Street transactions to supplement Social Security.
Those are the only two “fixes” that are politically palatable. They call it the Third Rail for a reason.
I’ve believed for years that social security needs to be privatized. Keep those 55 and up on the old system as they phase it out, and start the younger ones out with private accounts. The younger ones will be far better off and get a lot more in the long run.
It is relatively easy to figure out how to fix Social Security.
It is a political minefield, to actually implement needed changes. But as far as figuring out a plan, all we need to do, is set up spreadsheets. And then, plug in numbers showing “what if”, we raise the tax, what if we raise the retirement age a bit, what if we trim benefits payments, etc.
I know it’s a political powder keg to actually vote on anything in Congress. I’m just saying, it’s not too difficult to come up with some balanced choices of changes to the taxes, benefit payments, and full retirement age.
Political will is lacking.
Every two years, raise the retirement age by one year until it hits 80.
The average lifespan, when SS kicked in ate 65, was lower than 65. SS was for people that had the misfortune of living longer than everyone else. As with most socialist programs, it was fatally short sighted.
Meanwhile, I turn 66 in early 2020 and am taking full retirement benefits. It’s all I have. After moving to rural KY it’s also all I need.
Millennials. All are under age 36 I believe. Make them start their own mandatory system and pay everyone else’s benefits out of the general fund. Let it wither on the vine. Eliminate welfare, send all illegals home.
Algore said he’d put it in a ‘lockbox’..................
Won’t be any changes till a full blown crisis is imminent, which will be when the fake trust fund balance approaches zero around 2034 .
Dems will insist on raising taxes starting with the cap on income.
Republicans will want to raise the age again as under Reagan in the 1980s.
Given its a Ponzi scheme actions like those would just repeat the phony ‘saving for the trust fund’ scam again.
More terror marketing from the left.....
They took our money, telling us that it was placed safely in a “lock box.” A lie, of course.
Once they get ahold of our money, they start to dole it out in return for votes. They do not keep promises.
It was all predictable.
Medicare goes belly up first.
Something that is just wrong.
You earn your salary then they take out income tax and then FICA.
When you get old enough to claim SS benefits. They take income tax out of it a second time.
That’s double taxing.
The ultimate Ponzi scheme, but nobody goes to jail.
Meh, nobody’s going to fix it. If my money isn’t there when I retire, I’ll just have to rob some federal banks or something to get it.
If I get caught, well, they’ll have to send me to federal prison and pay my room and board and medical bills anyway. Win-win.
Obesity will save both social security and medicare.
Obesity is a governor, a damper, on prosperity
These ‘social security fails’ articles are about as ridiculous as the ‘climate change’ fear articles.
Claims that Social Security has been running out of money have been going on since I was in high school — 50 years ago.
It is a political football. It is sort of like the Race Card. It elicits anger and keeps ‘journalists’ in business writing articles about how it is running out of money.
Then, as if almost miraculous, Congress finds a way to save the system and kick the can down the road — again.
Levy a $.01 fee on all HF trading transactions on Wall St. Problem solved.
“Social Security hits its wall in 15 years.”
Which is the year I’ll turn 67. nice
Ponzi scheme , pyramid scheme nothing but a political scheme for stealing.