>>Maybe if the trillions that went to the COVID stimulus checks and the so called infrastructure plan and instead to Social Security this would not be happening. If the public employee pension plans were to go bust all hell would break loose.<<
I have spent my entire working life assuming there will be no SS available. FRA for me is a few years down the line but I think I will take it the moment I am eligible. I will just be using it for trips and stuff like that. But I paid in and I want what I was promised - or at least as much as I can.
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SS has been “going broke” for decades. The fact is it will always be with us and retirees will always get their checks for the simple reason it is political suicide to reduce payments in any way and for any reason.
The only change I believe will benefit both the program and the retiree is to allow (voluntary) investment of SS taxes collected into a selected portfolio of Stocks (mutual funds), Bonds (US Gov, Corporate also in the form of Mutual Funds) and MM funds).
I remember that Gen X was polled to see what we thought more likely, that UFOs are real, or that Social Security would still exist when we retired. UFOs won.
How many receive benefits that never paid into the system? Like illegal immigrants and refuges?
SS is real power for the political class. They use it to threaten, they use it to shore up power, but they will never, ever fix it. If they fixed it, they couldn’t use it as a club when they needed it.
I have a pension from the teachers’ retirement system in California - my family told me when I was in my 20’s that the system was no good, not to trust it and to diversify, diversify, diversify.
I’ve been warning colleagues about this for years - deaf ears, to say the least. Now they are at the mercy of a system that is going broke - or already broke. Some cashed in their 403b’s early - stupidly and foolishly - and don’t even have that. My agent told me this is a huge huge problem (they needed to buy a car, renovate their home, wanted the cash or something else just as foolish).
I now enjoy a comfortable retirement - if my pension goes (and I suspect it will given the affairs of this state) - at least I have other sources of income I can (hopefully) depend on.
And, uh, just how long have conservatives been warning against this?
Before that happens, eliminate the “crazy checks” that are sent to certain members of society as a pre-payment for reparations. Also, define what you want “permanent disability” to mean. Millions are getting this money and are perfectly able to work at some job.
Everything will be fine once the Biden/Harris administration seizes everyone’s 401K.
Hey, DC Dumbass! Look back at the original law: You weren’t supposed to be spending the SS funds on anything BUT SS payments. You’re so busy spending to get yourself reelected, you forgot who put you in office. When that stopped working, you passed new laws to make it easier to create fake voters. Time for us to kick your ass to the curb!
Of course Barry’s Obamacare czar, still on the scene, says nobody should live beyond 75. Just nudge retirement up a couple of years and the state will have the perfect SS solvency scenario!
Probably would never have been an issue if there were 70,000,000 more Americans instead of Marge Sangers Planned Parenthood eugenics. Seventy million more working. Instead America imports illegals for virtue signaling.
Commie thugs hate older white voters...
Blame it on the pandemic or climate change, but don’t dare blame it on poor governmental policies.
All the articles I see regarding when to retire and take SS benefits suggest waiting until later to get increased benefits. I haven’t seen one yet that acknowledges the elephant in the room, the upcoming insolvency of the system and the almost certainty of reduced benefits.
Never any talk of reducing welfare or foreign aid.
Unlike all other social program, Social security is an Earned benefits. People actually spend money to earn benefits!
And the benefits are not really that big. If you take a liberal mantra that $15 is the minimum living wage, (<=> $30,000/year) then almost all social security recipients live below living minimum. (SS average is below $20,000/year).
In Europe, the SS equivalent is a lot larger compared to average/minimum income. It bankrupts the European states, but it is.
What I want to say, that there are 1000’s of programs which deserve cutting before anybody should touch SS!
List of illegals with Social Security and Medicare still missing.