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Social security payments expected to face ‘steep cuts’ in just a few short years
American Thinker ^ | 06/15/2024 | Olivia Murray

Posted on 06/15/2024 8:54:57 PM PDT by SeekAndFind

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To: rlmorel
Which will turn it into a giant wealth redistribution scheme.

It already is. I sat down and figured out the SS payments for two people, one who made the SS max income all of his career and a second who made exactly half of that so he paid one half the tax. When it came time to collect, the lower income person got three quarters of the payments of the higher tax payer. If the higher number served as the baseline, than means the lower paid one got a 50% bonus over the proportional payment.

I had planned to find the payment level which exactly matched the average tax and benefit and use that as the baseline to calculate all of the other tax/payment rates relative to it, but I could not figure out how to automate the entry of payroll data into the SS website so I only did two by hand.

21 posted on 06/15/2024 10:11:41 PM PDT by KarlInOhio (Democrats' version of MAGA: Making America the Gulag Archipelago. Now with "Formal Deprogramming")
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To: TexasFreeper2009
Neither party is going to CUT social security payments, period.

You're absolutely correct. I think they'll fund it with a VAT (value added tax). A national sales tax in use throughout most western countries. Everyone will hate it, but they'll do it.

22 posted on 06/15/2024 10:46:13 PM PDT by rexthecat
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To: SeekAndFind
1. Social Security needs to stop the extra services they've expanded to provide and stick with original intent and services.

2. All benefits to illegals need to stop with no exceptions.

3. Congress needs to pay back to social security funds that were diverted to non-social security programs.

23 posted on 06/15/2024 10:48:37 PM PDT by Reno89519 (Trump Please Build the Wall, And Deport Them All. No amnesty for anyone. End H1B!)
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To: All

Social Security cuts are very credible using the following—

First, if a certain number of dollars need to cut, that reduction won’t be uniformly distributed. Lower end recipients will get their full check. Higher end, less so.

You can do this explicitly, or more likely by adjusting the annual COLA differently by check size. Not net worth means testing. Rather, bigger checks get less COLA.


24 posted on 06/15/2024 11:25:50 PM PDT by Owen (.)
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To: SeekAndFind

Stop supporting illegals and foreign countries that hate us!


25 posted on 06/16/2024 12:43:04 AM PDT by TonyM (Score Event)
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To: TexasFreeper2009

Exactly right.


26 posted on 06/16/2024 12:51:31 AM PDT by caww (O death, when you seized my Lord, you lost your grip on me......)
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To: OakOak

“ Everyone knows that the Politicians in DC have more loyalty to Ukraine than US Retirees.”
*************************************

Well, the US government is ALREADY PAYING UKRAINIAN RETIREES … OUT OF “GENERAL” TAX PAYER DOLLARS. But paying American social security retirees out of “general” tax funds (instead of out of “trust”funds) is apparently AGAINST THE LAW. So your point has a lot of validity.

And ZEEPERS rejoice at this prioritization.


27 posted on 06/16/2024 1:05:43 AM PDT by House Atreides (I’m now ULTRA-MAGA-PRO-M)
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To: SeekAndFind

Defense...


28 posted on 06/16/2024 1:34:07 AM PDT by PghBaldy (12/14/12 - 930am -rampage begins... 12/15/12 - 1030am - Obama team scouts photo-op locations.)
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To: Rowdyone
And, the baby boomers will be passing on which should ease the impact on these programs.

Do you really think that will fix anything? The real issue is inflation. Our fiscal insanity at the wasteful Fed Gov is destroying the entire nation. It is going to get much worse since BRICS has had so many nations wanting membership. And Saudi Arabia has ceased renewing US Dollar as the oil exchange currency.

Still More #Dem_Insanity!

29 posted on 06/16/2024 1:42:00 AM PDT by Texas Fossil (Texas is not about where you were born, but a Free State of Heart, Mind and Attitude.)
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To: AnthonySoprano

Truth!


30 posted on 06/16/2024 1:45:38 AM PDT by antceecee ( )
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To: SeekAndFind

They’ll print it up before pissing off millions of voters.


31 posted on 06/16/2024 1:49:30 AM PDT by Buck-Toothed Knuckle Dragger
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To: SeekAndFind

Don’t be concerned - it is only Social Security that is intentionally going to run out of money.

The free stuff for illegals and slackers will continue to be fully funded with no upper limits.


32 posted on 06/16/2024 2:05:11 AM PDT by Iron Munro (Sun Tzu: An evil man will burn his own nation to the ground to rule over the ashes)
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To: SeekAndFind

OF COURSE its going to collapse in a decade.

Know how I know? I’m 54.

Therefore it is a metaphysical certainty to go bye bye just as I would collect my first nickel from it after having paid into it my whole life. Pretty much all Gen Xers like me knew this would happen and we all said so back in the early 90s. This is no surprise.


33 posted on 06/16/2024 2:22:58 AM PDT by FLT-bird
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To: TexasFreeper2009

I think they should revolt Reagan’s income tax on social security. That way the cut won’t hurt as much. I will finally get social security at age 70 in 2039 if it’s still around. I always thought waiting until 70 was best.


34 posted on 06/16/2024 2:26:33 AM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: SeekAndFind

everyone’s social security savings should be placed in a special personal account that would not be available for withdrawal until 63 at the earliest.

that account would then receive all standard contributions going forward.

also, the account should be either invested in long term CDs to receive at least 3%... or invested in the S&P index fund.

and upon death, the remains of the account would go to the person’s estate.

analysis of such shows such accounts being sustainable for the average person’s contribution from the time they’re 18 to retirement.


35 posted on 06/16/2024 2:31:56 AM PDT by sten (fighting tyranny never goes out of style)
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To: Reno89519

Congress needs to pay back to social security funds that were diverted to non-social security programs..

That will never happen...

But I agree with points 1&2 wholeheartedly.


36 posted on 06/16/2024 2:34:54 AM PDT by Adder (End fascism...defeat all Democrats.)
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To: SeekAndFind

100% of the Social Security Trust Fund has been loaned to the general fund and was spent.

There is no Trust Fund. Just a bunch of IOU’s.


37 posted on 06/16/2024 2:43:02 AM PDT by tired&retired (Blessings )
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To: SeekAndFind

Total US Government Revenues in the 2023 fiscal year were $4.44 Trillion from all sources. This includes Social Security and Medicare Taxes.

If you subtract the Social Security and Medicare Taxes, the remaining General Fund Revenue is $2.9348 Trillion.

Total General Fund Revenue of $2.9348 Trillion divided by our $35.6 Trillion debt is 8.5%. That means that if interest on the National Debt reaches 8.5%, it takes 100% of our General Fund Revenue just to pay interest with ZERO left to run the government.

Many of you remember rates of 15% to 20% in the early 1980’s thanks to Carter.


38 posted on 06/16/2024 2:49:45 AM PDT by tired&retired (Blessings )
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To: tired&retired

We are so far beyond bankrupt that collapse is inevitable no matter who wins the election.


39 posted on 06/16/2024 2:51:24 AM PDT by tired&retired (Blessings )
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To: tired&retired

“ Total General Fund Revenue of $2.9348 Trillion divided by our $35.6 Trillion debt is 8.5%. That means that if interest on the National Debt reaches 8.5%, it takes 100% of our General Fund Revenue just to pay interest with ZERO left to run the government.

Many of you remember rates of 15% to 20% in the early 1980’s thanks to Carter.”
***************************************************

Bears repeating… and repeating often.


40 posted on 06/16/2024 2:55:08 AM PDT by House Atreides (I’m now ULTRA-MAGA-PRO-M)
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