Social Insecurity - now increased with Trump in office

[Luckyone]

How does that help SS?

Read the pdf file.

There is a table there that shows the following:

after you read the pdf on what is happening, you will see that in order to even keep the cut to Social Security benefits for the next 4 years to ONLY 22%, taxes have to be raised 5%. Trump is looking to lower taxes.

The PDF explains it all IN DETAIL!

 

[Luckyone]

How does that help SS?

 

[Hafar1014]

View attachment 1272383

SS is a ponzi and can never be solvent. It has to be phased out and replaced with a private plan

 

[WorldWatcher]

SS is a ponzi and can never be solvent. It has to be phased out and replaced with a private plan

Actually I agree, a private lockbox plan is preferable but the above is a bumper sticker.

Same idea proposed in Bush II a couple of decades ago, but the problem is there were no details to how to fund it and continute pay benefits to those that were already in the system and what kind of "grandfathering" schedule would exist for those with few and few years to retirement and unable tgo make signficant contributions to private lockbox account.

So what is your plan?

WW

 

[WorldWatcher]

This is truly scary for all, but more so for us who are now over 65. Social security is heading into bankruptcy within 4 years ...

SS is not going to go "bankrupt" that is scare language.

Is there a crisis? Sure.

SS will have exhausted the trust fund and reverted to Pay/Go meaning a reduction of about 25%. People will NOT be happy.

Yes my wife and I are both over 65, but have established multiple retirement revenue streams. I did the math and a 25% reduction in SS results in a 7% reduction in gross income for us in retirement. Not happy, not pleasent - but we will be in a lot better shape than some.

WW

 

[Luckyone]

SS is not going to go "bankrupt" that is scare language.

Is there a crisis? Sure.

SS will have exhausted the trust fund and reverted to Pay/Go meaning a reduction of about 25%. People will NOT be happy.

Yes my wife and I are both over 65, but have established multiple retirement revenue streams. I did the math and a 25% reduction in SS results in a 7% reduction in gross income for us in retirement. Not happy, not pleasent - but we will be in a lot better shape than some.

WW

I am happy for you, from the point of view that you have been able to "establish multiple retirement revenue streams". Few people are that talented or even have the vision to plan for their future. They are too busy trying to make ends meet every day of their lives (this is the largest portion of Americans).

A good friend on mine is 76 years old and lives off of his Social Security and is barely able to pay his monthly bills. When they cut the Social Security by 25%, he will be "up a creek", without a solution possible.

 

[late]

SS is a ponzi and will always run out of money.

This thread is mind numbingly stupid.

But I wanted to point out something so simple even you might understand it.

Once most of the Boomers are dead, SS will be running big surpluses.

Btw, learn what a ponzi is..

 

[late]

I am happy for you, from the point of view that you have been able to "establish multiple retirement revenue streams". Few people are that talented or even have the vision to plan for their future. They are too busy trying to make ends meet every day of their lives (this is the largest portion of Americans).

A good friend on mine is 76 years old and lives off of his Social Security and is barely able to pay his monthly bills. When they cut the Social Security by 25%, he will be "up a creek", without a solution possible.

He will die.

That's the idea.

 

[Hafar1014]

This thread is mind numbingly stupid.

But I wanted to point out something so simple even you might understand it.

One most of the Boomers are dead, SS will be running big surpluses.

Btw, learn what a ponzi is..

The age of our population is growing. People are living longer. Even you can understand that. Thats why SS will always go broke. Not enough workers to support those collecting.
A ponzi is new money paying old obligations with no internal investment to offset future increases.
SS is new money paying old obligations with no internal investment to offset future increases.
I love it when people think Im dumb and they post a reply like yours. Dumb is a reach up for you

 

[JohnDB]

What does this have anything to do with the fact that Trump is not addressing the running out of money issue to give to our elderly and retiring Americans and is actually making worse?

Actions have consequences....

Trump is tossing illegal aliens who got SS benefits as fast as they can but....
We have Democrats on ICE patrols....people blocking ice.

 

[late]

That's why SS will always go broke.

First it's a pay as you go system, if you ignore the dumbass politics.

The ratio will change dramatically, did you take high school math?

 

[Winco]

Eliminate the earnings cap. Problem solved.

I've been saying that exact thing for decades.
But still CAP the return.

Yeah, I know, it sounds so unfair to the rich.
So a Multi-Millionaire or Billionaire have to pay a bit more on every $100,000 they make.
I won't shed a tear if an increase of $100,000 in salary results in an additional $6.200. to the SS fund.
If they make another $100,000, then they pay in an additional $6,200 to the SS Fund.

That's not even gonna make a dent in their lifestyle.
If if somehow does, theyn they too can LEARN to cut down on their spending, like every other middle class worker.

 

[my2¢]

A few days ago I came across this article:

RFK Jr. Recommends Social Security Immediately
“Reduce Scheduled Benefits by 25.2%” as Insolvency Looms

As president, Bill Clinton wanted to address the situation as the deficit was narrowing. The Republicans opted for the tax cut route. Unfortunately for most those tax cuts didn't make much of a difference.

 

[Hafar1014]

I've been saying that exact thing for decades.
But still CAP the return.

Yeah, I know, it sounds so unfair to the rich.
So a Multi-Millionaire or Billionaire have to pay a bit more on every $100,000 they make.
I won't shed a tear if an increase of $100,000 in salary results in an additional $6.200. to the SS fund.
If they make another $100,000, then they pay in an additional $6,200 to the SS Fund.

That's not even gonna make a dent in their lifestyle.
If if somehow does, theyn they too can LEARN to cut down on their spending, like every other middle class worker.

Then people will pay more in SS taxes then they will get back. It isn't the responsibility of the rich to support everyone. Support your own damn self

 

[Luckyone]

Actions have consequences....

Trump is tossing illegal aliens who got SS benefits as fast as they can but....
We have Democrats on ICE patrols....people blocking ice.

Your answer is bullshit

 

[Luckyone]

This thread is mind numbingly stupid.

But I wanted to point out something so simple even you might understand it.

Once most of the Boomers are dead, SS will be running big surpluses.

Btw, learn what a ponzi is..

Wow, you are calling the thread stupid but "advocating" for the death of millions of Americans, simply because they are elderly.

Who is the stupid one here?

 

[Hafar1014]

Your answer is bullshit

We need to cut off all benefits deny them work and a place to live and starve them into self deporting. They are a threat to our democratic process as they alter the census and vote illegally.

 

[Hafar1014]

Wow, you are calling the thread stupid but "advocating" for the death of millions of Americans, simply because they are elderly.

Who is the stupid one here?

He has no idea what he is talking about. He forget we all age and as boomers die they are replaced by an even larger population that drains SS which has no way to offset the increased costs

 

[late]

Wow, you are calling the thread stupid but "advocating" for the death of millions of Americans, simply because they are elderly.

Who is the stupid one here?

I'm a Boomer, I am 74.

We're on the way out, not exactly my choice.

Death and taxes..

 

[Papageorgio]

This is truly scary for all, but more so for us who are now over 65. Social security is heading into bankruptcy within 4 years and there is little that can be done, especially with Trump being in office and caring so little for Welfare (and Americans in general) and not likely to do "anything" about it.

https://images.mauldineconomics.com/uploads/TFTF_Jun_20_2026a.pdf

after you read the pdf on what is happening, you will see that in order to even keep the cut to Social Security benefits for the next 4 years to ONLY 22%, taxes have to be raised 5%. Trump is looking to lower taxes.

This will affect all Americans at some point, even if you are not yet on Social Security (under 65 years of age).

One point made in the study that personally affects me is that life expectancy in the U.S. is now 83 years of age. I turn 81 in a few weeks, suggesting that I may only have 2 more years to live.

Having said all of the above.................we are on the road to being totally scr**ed

Dishonesty at its finest! The article says nothing about Trump and it says it has gotten worse every year and even if a Democrat wins it will get worse under them unless something changes and we all know it won’t. More scaring people, nore doom and gloom, this seems to be all Luckyone has. Stock market crashing, how many times since Trump was voted in, 6 or 7times now?