That's fine because cost of living keeps going down and we're all totally not going to get royally fucked up.
I'm sure it's just a coincidence that 2031 is the year the youngest Baby Boomers become eligible for full Social Security benefits, and this isn't yet another example of the boomer generation pulling up that ladder behind themselves.
Social Security is easily the simplest problem in the country to solve. Just raise the income cap. It's around $170K now, just raise it to $250k, or $500k, or whatever some smart statistician (not MAGA, they can't do math) determines.
It's really as easy as that. Some higher income people are going to complain, but who cares?
Even 15 years ago it was already predicted to run into the red by around 2030. I'm impressed it's still true and not gotten worse.
Fat-cat social security recipients won't be leeching off our hard-working millionaires and billionaires for much longer. Think of all the tax breaks we'll be able to afford to give to the wealthy with that kind of money!
Social Security would be the easiest thing to fix, and honestly, it'd be hugely popular, too.
That is, it will be hugely popular with everyone but the Epstein class and those that do their bidding.
Just raise the cap.
So they want to put all of our SSA money into the stock market and hope that it generates enough profit to cover the declining workforce... I'm sure that 401Ks, social security, and banking IRAs all being dependent on the same stock market not failing isn't a terrible idea.
If social security gets fucked by the time I need to start using it, I'm just going to go around lighting shit on fire. And I'm not exaggerating.
Just out of the Boomer demographic. Convenient.
The word you are looking for is DEFAULT. The ruling class if floating the idea of defaulting on social security in 2032.
They borrowed (stole) the extra that was paid in, with the promise of paying it back when needed. Now that the bill is due, they want to default.
They have money to bail out the rich to the tune of trillions, tens of trillions between it all not even including the fed and their hocus pocus to subsidize the richest. But they can't save the post office they sabotaged, nor do they have the cash to pay their debts to retirees, the ones that also paid those goddamned subsidies to the rich and corporate welfare and bailouts. The rich don't even pay taxes, and the corporations pay way lower rates than we do, even before their write offs which brings most of theirs down to 0%.
They sabotage it and use that as an excuse to privatize it.
Say no to the government DEFAULTING on America!
Lawmakers from both sides of the aisle have proposed solutions to the potential shortfall. The Fair Share Act, introduced by Democrats Senator Sheldon Whitehouse of Rhode Island and Representative Brendan Boyle of Pennsylvania, would strengthen Social Security and Medicare by requiring people earning over $400,000 to pay payroll taxes on all income above that level. Supporters say it could fund the program for 75 years, though high earners oppose it.
A bipartisan proposal from Republican Senator Bill Cassidy of Louisiana and Democratic Senator Tim Kaine of Virginia would create a new investment fund, allowing Social Security to invest in stocks and other assets, starting with a $1.5 trillion Treasury-backed boost.
These people in the bolded paragraph can be [redacted] .
The actual choices are to cut paments, lift the cap or divert other revenue (such as a wealth tax on billionaires) to the trust fund.
I want all my money back.
Gen X will have paid into the SSA all their lives, and they'll get nothing for it.
Gen X will spend their declining years working, to pay for the SSA benefits for the Boomers.
I know, I know what you're saying: "Gen who now?" And that's right, you've got it, that's exactly how it is.
Why do I feel this is just a ploy for boomers to take even more of my money and then never let me collect SS...
Soon there will be a critical mass of people who have nothing left to lose. Thats why the Republicans put a paramilitary army on the streets, and it’s also why the Democrats won’t stop them. They work for the same people.
Is that so, Newsweek? Well MYSELF I predict the fascists will be out and we'll have shaken out the billionaires upside down and picked up the coins and then we'll have plenty of money to keep our promises.
checks notes
Yup, first date of eligibility for drawing US SS checks is 2032....right on time
If you're new to this, know it's a tired Republican scare tactic/distraction.
You'll be evicted if you stop playing your rent. Same principle. We pay into social security and that's what keeps it going, always has been. Non story BS.
then what am I paying into it for?
A better frame for this is: full payments for social security guaranteed through 2032. The social security trust fund will only run out if congress doesn't budget for it, which is also true for every other government program. If the social security trust fund does run out (which would be political suicide), payments will go down to 80%. That people think social security is in crisis is an incredible work of propaganda. Nothing else in government is as secure as funding for social security.
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