Social Security insolvency date move up one year earlier.

Brookswood

Brookswood

Senior Member
We have one year less than throught until SS payments will be cut by approximately 20%.

With an aging U.S. population and a smaller share of American workers who pay into it, Social Security could become unable to pay full retirement and disability benefits in 2034, one year earlier than reported last year, the program’s trustees said Wednesday
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Something has to give, with so few younger workers these days vs. the older workers who preceded them. Also, what happens to younger workers if/when AI starts replacing human jobs?

Hopefully SS will be restructured to avoid this but it won't happen until we have a Congress that actually gets things done, and I'm not pointing to either side. This has been a known issue during many administrations but they just seem to keep kicking the can down the road.
 
I seriously doubt I'll be impacted even though 2034 isn't that far in the future. . How about companies taxing the payroll pay that would have been done by a human that robots are replacing. No need to pay soc. sec. to a robot.
 
You do know the Government does not print money to cover the costs.
Its all digital, you get money in your account because the congrsss says thats what you get in your Closset.
Its Digital. No Gold. Each person would get around $1000 for all the Gold that exists so far. $$$10 Trillion or so.
Its all Digital numbers.

Knock offs a sure thing too.
 
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Knight said:
I seriously doubt I'll be impacted even though 2034 isn't that far in the future. . How about companies taxing the payroll pay that would have been done by a human that robots are replacing. No need to pay soc. sec. to a robot.
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The problem is the Robot should have to pay Social Security X 4 because thats the people it puts out of work.
You can see who needs to be made to pay $Trillions into SSN because of the unemployment they are causing.
It's so simple all that...

Autocrats crap and what it really means. Marrieds will have to work 4 jobs to survive next. All of business will need
12% taxation for SSN. They made Self-Checkout didn't they. U are doing the work a lil girl used to do 15 years ago.
 
The elimination of the the Windfall Elimination Provision (WEP) and GPO knocked a good 6 months off of the remaining time before SS runs out of money to pay full benefits. That's 1/2 of this one year reduction.
 
Wall Street, our elite wealthy class, and their army of puppet politicians and news media is the reason our capitalist without effective oversight society has reached this greatly inflated state of a stark unequal wealth. So yeah, this can all be readily fixed by the do nothing puppets, and it has to come from increased taxation of the wealthy class and corporations their puppets will resist until they cannot.

Don't absorb biased with agenda media narratives of how this is such a problem as they purposely avoid pointing towards those that deserve to pay more tax and can. Especially narratives about how we peon citizens need to have a higher birthrate or how we need to allow mass immigration. A fix our nation and the social fabric of our society is now struggling from results of years of.
 
I've been reading speculation about the proposed cut for years. If my memory serves me correctly, the first times mentioned 2034. Then I read 2033. The sort of good news is that the percentage keeps dropping. At first it was 25% across the board, then 24%, so now it's down to 20 (?). I've been warning the Gen-Xers about the proposed cuts. Those who are planning their retirements need to know that they'll have to consider that lost 25, 24, 23, 20% (or whatever) cut in their SS.

Being a "what if" person and one who micro manages my finances, I created a document with budgetary scenarios based on different reduction of percentages for SS and my pension. after reading about retirees whose pensions went bankrupt and learning of N.J. State's huge deficit.
 
Insolvent is only a BX line of crap. The government just mines Digital currency as it wants to.
Millions do not pay SS taxes on their completes income but they will then collect the highest amounts.

The Governments of the world operate on Digital Money that actually is trade stuff values.
There is only $11 Trillion in gold in the world. It's a complete line of crap. The Fed spent $50 million on a parade. JHC !
Old Solders / Wac's in power chairs, free parade. Vet's ridding lil electric bikes, no need for big guns. Couple Flags and party on dude.
 
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2025 IRS reports: $20 trillion in taxes to Congress, problem solved. Mine more!

By 2030 you will be making so much at your home office job it won't matter.
The other day I was notified that my job is finding other people to work jobs. Wanna help me?
U need a good gift for gab. Hands raised? Most employers believe it's in the Cloud.
Need Cloud fill ups and more Clouds. More Clouds to dream into. ... :ROFLMAO: ...
 

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