Shrinking Government sounds fine to me. It’s already bloated enough.
All the money comes out of the general fund now. I really doubt they will change it because so many use it. Not just American citizens. Illegals and so many minorities use it I can’t imagine they will cut it because so many on it vote dem.
bookmark
Two words for ya: Means Testing
I fully expect the GVT to eventually equate SS to military retirement limiting dual compensation.
But, but the Democrats PROMISED US back in 1964 that it would never go broke!!
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
Back around 2014 or so, AARP magazine had an interesting article on how the SS system was NOT a Ponzi Scheme.
A few pages on was an article by Jane Bryant Quinn on how the SS system was set up.
A simple reading showed the Social Security system was set up just like a Ponzi Scheme.
So why is Social Security the only self funded program in the US government? And is there a politician in the country who will run on not funding? Especially since it’s been raided umpteen times over the years and it’s funds given to people that never contributed.
I would like to see a breakdown by sex, especially never-married women. Women live longer and thus collect Social Security longer and women who never married are an especially impoverished group. No shared incomes to buy homes, no husband with potential pension.
Thanks for posting. The chart on social benefits vs disposable income is instructive. It quantifies the increase in socialism over time.
Instead of shrinking it I vote to collapse it.
Remove illegals from the country and get unemployed Americans to work so they can contribute and earn productive money for their families.
Many on S.S. might never make it through retirement, but they never really made it when they were working either because of poor paying jobs. Not all of these were unskilled type jobs, either. Some were rather highly skilled jobs, but the folks were just in a situation that they were never paid what they were worth; no raises to speak of, no benefits or pensions,etc. Under such conditions, there was nothing left to save & only left S.S. to depend on. Of course, the low wages were only half the problem. These people generally paid taxes like everyone else, but some of their taxes were not based on income or their ability to pay, such as property taxes. Add it all up & you can see that they now depend entirely on S.S. for “retirement”. Consequently many have already, or will, work well past their retirement age. Some may not live long enough to ever collect any of what they paid into all those years. We have the federal gov’t. primarily to thank for that for leaving insolvent what was to be a trust fund. Every time an announcement is made about S.S. funds, it seems this program is to run out of funds sooner than expected. Never hear much about Gov’t. pensions having to be cut....or spending cut for the various “pork projects” do you?