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Posted on 03/05/2022 4:16:53 AM PST by where's_the_Outrage?
Millions of seniors today rely on Social Security as a critical source of retirement income. And chances are, many future retirees will depend heavily on those benefits as well.
But Social Security is facing its share of financial challenges that could have devastating consequences for current and future retirees alike. And if lawmakers don't intervene, the results could be downright catastrophic.
There's a serious revenue shortfall at play
Social Security primarily relies on payroll taxes (the ones we all hate paying) to stay afloat. But in the coming years, that income stream is expected to shrink. That's because baby boomers are expected to exit the workforce in droves, and it's anticipated that the number of workers entering the labor force won't suffice in replacing retired boomers.
(Excerpt) Read more at msn.com ...
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You mean the jab didn’t kill off all the senior citizens yet. 🤔 it will in my opinion but only time will tell.
Won’t matter. See post #1.
Millions of useful idiots who put their trust in criminal government instead of themselves are about to suffer. No sympathies.
Our friggin’ low life government is giving all our Social Security funds to the friggin’ foreign freeloaders in America illegally. They turned it into “Refugee” Security for foreign nationals who hate America and show up at the border with their kids in shitty diapers for the border patrol people to change and carrying newly minted race cards.
The nursing home Wu-Flu fatalities were a temporary bubble burst...kicked the can down the road for a year or two.
No “/s” tag...I’m deadly serious.
And it would have helped if the Slimeballs in DC had not stolen the trust fund from AlGore’s “Lockbox…”
I just don’t understand how some immigrants are eligible to get SS.
I read of a Chinese woman who immigrated here and was able to get it after being here a few years. It was a few hundred dollars a month but more than my grandmother was getting at the time.
They’ll just keep increasing the age for full benefits (even as our life expectancy starts to fall due to Third Worlders replacing Americans); in conjunction with underestimating inflation, they’ll keep it solvent.
The $15 minimum wage push plays a role here as well; it will increase contributions from both workers AND employers.
Be an American. Sacrifice for the Ukraine!
Gubmint checks (from any source) are the lynchpin in setting up the pseudo-economy in many areas that would have been abandoned in the past (and have already been abandoned by most workers and employers); Pelosi said in 2013:
“Economists agree that unemployment benefits remain one of the best ways to grow the economy in a very immediate way. It immediately injects demand into our markets and increases employment. For every dollar spent on unemployment benefits, the economy grows by, according to one estimate, $1.52; by others, $2. So somewhere in that range, but much more than is spent on it,”
It is no coincidence that the stores in our worst dumps prominently display “We accept EBT” signs; the wealth transfers ARE the economy.
And paying Medicare supplemental right out of SS. lol
The data is here.
https://www.ssa.gov/oact/STATS/table4a3.html
Honestly keeping SS Income “Taxes” equal to “Benifitis” and not allowing a trust fund to be raided seems to make more sence. Yearly adjustments based on Income would be tightly coupled with income of the first 400,000 for the rest of the population. That would be a 7% increase next year. That lag is just a fact of life, we all deal with that gap.
At age 50, and 12% of my gross income, I could have already set aside 3 million dollars and SS payments. I will make 4 million at age 65 with a much higher savings rate at the end of my working life at zero change in my lifestyle.
Taxes on 20 year olds are regressive. Taxes on 50 year old are for the better part ignorable by the general population. The happiest check is retirement savings, the worse is the amount that goes to other people not to work at the same level I did for a lifetime.
I thought about putting something like that in my initial comment. Yup, the jab will probably result in more fatalities, but not just in seniors, seems active soccer players are especially vulnerable.
And don’t forget the whole COVID lockdown nonsense isolating seniors from their families at the same time putting them with infected carriers. Dems did not care if they die as they can still vote.
Don’t you remember the bleating a few years back about the noble immigrants paying into Ss but not receiving services?
I remember that.
“put their trust in criminal government instead of themselves”
Yup, I know many that only have SS as their retirement. All are staunch democrat.
Moreso the Dems have politicized fixing SS such that it’s almost untouchable with things like “Republicans are forcing grandma to eat dog food.” Dems only fix is to increase FICA taxes.
I was standing in line at my local SS office once. Two young Hispanic ladies were in front of me with small children. As they entered the building a lady asked what their visit was for. They said “disability”. I assume they were trying to get it.
The government doesn’t need to have actual money in order to create data files that are sent to banks to increase the recipients’ balances.
I am talking about some that have literally gotten off the boat but somehow were able to get monthly checks.
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