The Social Security Trust Fund

[mdbl]

So what is the trust fund? During the boomers working years, they paid more into the social security fund then was needed to pay out. The extra money went into the trust fund to use when payroll SSA taxes weren't enough to cover payments. Well that time did come and currently, a percentage of each social security check is being subsidized by the existing trust fund. The last time it became an issue before Congress, as a half-baked fix, Ronald Reagan and congress raised the full retirement age to 67. This pushed back the date the trust fund would run out.

Well, we're coming up on that date. Depending on payrolls, and we know how that has been going, the trust fund could run out in about 7 years or less. When the trust fund is depleted, federal law requires the SSA to only pay out what they collect in payroll SSA taxes, which is currently estimated will make the Social Security payments 20-30% less. Congress has never fixed this problem. Now would be a good time to start calling senators and congresspeople to get them working on a fix for this.

Raising the social security cap would be the quickest way to offset the coming losses. They would, of course, rather just see poor recipients suffer by either not doing anything or throwing around their privatization bullshit which will just cost more.

Also, if any of them give you bullshit about how the regular SSA money is gone, or taken by congress, that's not true. When Congress raided the trust fund they replaced what they took with IOU's in the form or treasury bonds - so it has been and will be paid back.

Everything else you hear about SSA not being around is pure bullshit as long as there are SSA payroll taxes being taken from each person's paycheck. Of course, Wall Street would love to get their grubby mitts on the 2 trillion social security fund right now so they could rip us all off. We can't let that happen.

[question everything]

1. Many jobs are lost to AI. Meaning lowering payroll contributions to SS.

I think that these organizations should fill in what the lost jobs would have.

[riversedge]

2. now that is a grand idea.

[IbogaProject]

3. This is the origional flaw with Social Security

The fact that those with income or gains from assets don't contribute is the origional flaw. Making workers pay their own way while exempting those with assets. There should be payroll comtributions to qualify for benefits but the wealthy need to contribute the same 15% of their unearned income.

[Jack Valentino]

4. "When Congress raided the trust fund they replaced what they took with IOU's in the form or treasury bonds -

so it has been and will be paid back."

MUCH of that stolen or 'borrowed' by Bush Jr. to pay for the Afghan-IRAQ wars,
as I recall......

NOTHING under this GQP Pedophile administration
will EVER be "paid back" !!!!! ----

since they would prefer that old people just DIE NOW!

[Jack Valentino]

5. And they mocked VP Al Gore for using the phrase "lock-box".......

[RainCaster]

6. Remove the SS limit.

Many of us paid into the SS fund all year long every year. That's because we earned less than the limit. Meanwhile, the billionaires pay into SS for less than a second on the first day of the year. Remove that limit and SS remains solvent.