How long, and under what conditions, do you think SS will last?

Congress has been using the s.s. Trust fund as it’s own petty cash reserve for years. The trust fund was originally set up for it to be invested WISELY. Never done. It became Congress slush fund instead.
 

Can somebody just ask Siri?
I'll ask ChatGPT...
Here's what it gave me...
  • Increase revenue: Increase the Social Security tax rate or consider other revenue-generating options.
  • Reduce benefits: Consider reducing future benefits, such as raising the retirement age or changing cost-of-living adjustments.
  • Increase efficiency: Implement cost-saving measures and reduce administrative costs.
  • Invest in alternative revenue sources: Consider investing a portion of the Social Security Trust Fund in alternative revenue-generating investments.
  • Address immigration: Address the issue of undocumented workers who pay into Social Security but do not receive benefits.
  • Consider privatizing some aspects: Consider partial privatization, allowing individuals to opt into private investment accounts while still receiving a basic level of government-funded benefits.
You can tell it has a right-wing bias. It doesn't say anything about means testing for those collecting SS, or for basing SS taxes on a person's entire salary instead of having a cut-off point. And it has several proposals that will lead to privatization of SS.
 
And it has several proposals that will lead to privatization of SS.
Yeah. I bet it does. One can only imagine how much fresh lobbying money would get spread around Washington. When a slick Bernie Madoff clone steals assets entrusted to him, then what? Seniors starve? Or does the government do a bailout?

If SS is privatized, massive thieving will abound. No thanks.

Individuals have ample opportunity to put money into private investment accounts. How foolish we'd be to entrust SS to private companies.
 
Yeah. I bet it does. One can only imagine how much fresh lobbying money would get spread around Washington. When a slick Bernie Madoff clone steals assets entrusted to him, then what? Seniors starve? Or does the government do a bailout?

If SS is privatized, massive thieving will abound. No thanks.

Individuals have ample opportunity to put money into private investment accounts. How foolish we'd be to entrust SS to private companies.

My thoughts exactly.
 
I'm in favor of simply raising the $150K cap. As it is today if you're making 100K per year you pay 6% of your entire salary to SS. If you're making $500K you will pay 6% of 20% of your salary. I understand that means high earners will pay more for the benefit but high earners will also receive higher payouts.
 
I'm in favor of simply raising the $150K cap. As it is today if you're making 100K per year you pay 6% of your entire salary to SS. If you're making $500K you will pay 6% of 20% of your salary. I understand that means high earners will pay more for the benefit but high earners will also receive higher payouts.
Sad to say, members of Congress are highly focused on keeping their wealthy friends and donors happy. They'll only raise the cap if and when their fear of being voted out by their constituents is stronger than their fear of losing those campaign donations.
 
Sad to say, members of Congress are highly focused on keeping their wealthy friends and donors happy. They'll only raise the cap if and when their fear of being voted out by their constituents is stronger than their fear of losing those campaign donations.
Agreed.
 
In regards to the comment by StarSong "
Picture the political ads featuring real-life stories of suddenly destitute grandmas and grandpas whose government didn't deliver on its promises, that then shift to photos of lazy, uncaring, do-nothing politicians who made sure they'll get generous government pensions that are unaffected by SS cuts. but couldn't be bothered to take care of this vulnerable group?
Memes of Chris Christie on the beach would be child's play compared to what would be hurled at them."

Although I completely agree with this comment about the reaction of the citizens towards politicians, I have to say that based on the behavior we're seeing from politicians these days I have to assume they really don't care about what we think of their behavior. Moreover, we continue to elect many of the most ill-mannered, obnoxious, and abominable candidates to office. I'll not mention names to avoid turning this too political. I refer to them as the crazy train.
 
Although I completely agree with this comment about the reaction of the citizens towards politicians, I have to say that based on the behavior we're seeing from politicians these days I have to assume they really don't care about what we think of their behavior. Moreover, we continue to elect many of the most ill-mannered, obnoxious, and abominable candidates to office. I'll not mention names to avoid turning this too political. I refer to them as the crazy train.
Agree most politicians don't particularly care what we think of their behavior. However, they do care about what policies will preserve or flip voters. Indeed, it seems that's what they mostly care about.

Explains all the recent chatter and backpedaling in DC. After dancing close to it for a few minutes, they've learned (once again) that even stepping near the SS third rail brings swift, loud condemnation along with immediate distancing from members of their own party.
 


Back
Top