Posted on 06/15/2024 8:54:57 PM PDT by SeekAndFind
Welfare payments will be unaffected.
“Time to kill off some more of us seasoned citizens.”
Exactly. GMO processed food, the collapsed deadl corporatized healthcare system, engineered pandemics, criminals preying on the elderly, and compulsory euthanasia which is coming.
They will print all they need.
They reduce payments by allowing CPI adjustments to fall behind the actual inflation rate.
This has been known for decades and the subject of news every month. Unfortunately we do not have any leaders with cojones to do what is needed. One side thinks it should all be raise the retirement age and the other wants tax increase (only on “wealthy” of course). Reagan got it done in different era when people understood that compromise was needed to govern.
Personally I favor across the board tax hike of 1% plus retirement age increase, so that the libtard starbucks baristas understand this is not free. For 35 years I maxed out on SS tax so I will never get what I paid back. Already I essentially get $0 until age 67 because it all gets taxed back before that age.
Well, if the Demoncrats had not “raided” the trust funds all of these years we would be better off. When the Demoncrats rant and rave that the GOP wants to cut SS & Medicare, they should be mocked every time.
So not only will there be cuts—a guarantee if we simply don’t do anything different—but you’ll likely be taxed on it. In some cases, social security benefits are already taxed, a 1983 development signed into law by Ronald Reagan (I’m not a fan at all) with the help of a yes-vote from then-senator Joe Biden, but if you can count on a big-minded federal government to do anything, it’s raise taxes.
By then nwe’ll all be living under the expressway bridge
Notice that Social Security is the first(and often the only) thing spoken of when it comes to cuts. Not the funds send to foreign countries, or money spent to study the mating habits of quails hooked on cocaine. Nope, the narrative is always “we have to have more money” or we will have to cut social security.
Politicians have been robbing SS for years in order to fund other pet projects. Once the opened that “lock box” it was never locked again. They can rob from those projects to fund Social Security for a change.
When making projections experts always forget to include the “X” factor. X is the conditions or actions now unknown that would dramatically change the outcome. For instance, Trump is reelected, our economy gets rolling again, budget cuts are made, the drains on economy are deported, labor participation goes up, and suddenly SS funds are solvent once more.
Hahaha...so true.
When I posted, I re-read it, and thought the same thing and was going to post an addendum saying “it already is” and then decided not to...:)
But yes. It is.
for everyone except those who contributed, they should all be sent to the gallows
That's all I want. With interest would be nice but that's not happening.
Quit p*ssing away money on Ukraine and other countries...
Social Security is a Ponzi scheme with guns.
All the accounting talk makes it sound legitimate.
Cut off the millions and millions of wetbacks who are getting SSDI and the problem’s solved.Cut off the millions of citizens who are scamming the SSDI program and SS benefits to the rest of us can be increased by 10%.
Our $33 trillion debt will cause the financial collapse of our nation before this ever happens.
WWI Germany hyperinflation, collapse of the dollar, no longer able to pay the interest on our national debt.
Social Security has a longer shelf life than I do. I’ve drawn for seven years. It’s all gravy for me now.
There wont be cuts, there will be laws passed to move the retirement age to 70+ and there will be tax increases to fund it.
Social Security cannot fail! We were promised in 1964!
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.”
About twenty years ago AARP magazine had an article on the SS system. They said it is NOT a Ponzi scheme as Ponzi schemes always collapse when there are no new investors at the bottom.
AARP said “Social Security has not collapsed, therefore it is not a Ponzi Scheme.”
A few pages on Jane Bryant Quinn had an article on how the SS system is set up. Without saying the word “Ponzi” it is set up just like a Ponzi scheme with forced new members “contributing” at the bottom.
The SS system, when set up, allowed you to retire at 62 years of age. But the average lifespan back then was 57 years of age meaning most would never get to withdraw anything.
Then came Penicillin.
“AARP said “Social Security has not collapsed, therefore it is not a Ponzi Scheme.””
Lol.
As long as the .gov has guns to enforce tax collection everything is good.
:-)
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