Posted on 06/06/2026 10:17:38 PM PDT by MinorityRepublican
Social Security is barreling toward a 24% across-the-board benefit cut in 2032 that would slash roughly $500 a month from the average retiree's check — a hit that totals about $345 billion a year nationwide, according to a first-of-its-kind report from the Committee for a Responsible Federal Budget, a Washington fiscal watchdog.
Yet as that fiscal cliff draws closer, the Trump administration is simultaneously pushing Wall Street-style Trump Accounts and quietly reshaping the Social Security Administration in ways that already make it harder for millions to access disability benefits.
The group warns that without congressional action, "no state would be spared" from what it calls "potentially devastating" reductions, with roughly 60 million Americans — about one in six — directly affected. That includes 54 million retired workers and 9 million survivors and dependents.
(Excerpt) Read more at fortune.com ...
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Then what are immigrants for?
How about, right now, they stop giving money to people who never paid a dime into the system???
You know, stop using it as a slush fund to buy votes for the Dems....
They could start with cutting legislators’ pay. It’s a lot of money for doing nothing.
Idiot article is attacking Trump for trying to help people invest money for the future.
To vote for Democrats.
:rolleyes: Congress just needs the FICA tax rate by 1%. .50% for the employees and .50% for the employer. The sky is not falling.
Oh well. Eventually the bill comes due. Don’t depend on Uncle Sam to meet your monthly nut.
Socialism always proves to be a scam in the end.
Winner 🏆🏆🏆
Glad I planned my retirement so that I could survive without SS. I’ve known this day was coming for many decades now.
Did someone break into the Social Security Lock Box?
fix that and we people that worked for many decades wouldn't constantly be threatened.
No more crushing the young...stop paying illegals and fake disabilities.
F___ you, pay me!
I am 72 with bone on bone knees,diab,afib...I worked until I was 67...DO YOU WANT MY BLOOD?
Couldn’t we all claim to be Ukrainians?
How does your math work? The current rate is 6.2% on employers and 6.2% on employees. The 24% cut mentioned by the article is in line with other predictions for 2032 that I've seen. If keeping rates at 12.4% (total) will only get us 76% of what we need in 2032 when reserves run dry than my math says we need to bump up taxes by ((100/76)-1)= 31.58%. That means a total payroll tax of 16.32%, or almost 4% higher than the current rate.
And then it will need to increment higher every year as the sub-replacement birthrate means more retirees supported by fewer workers. Either that or promised benefits get cut.
It's interesting to consider how this plays out politically. Democrats tend to position themselves as the benefits party, Republicans as the party of workers; conversely older voters lean Republican and youth lean Democrat. So Democrats may use a platform of maintaining SS benefits to make a play for older voters, while Republicans could make a play for younger workers by trying to hold the line on taxes.
Nothing will happen to SS. It is a spending bill like any other passed by Congress. They will vote to fund it without any big changes. Period.
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