Social Insecurity - now increased with Trump in office

[Luckyone]

Because of the ROI of Taxes....

Taxes have a dampening (cooling effect) effect on the economy.
Meaning that some taxes are necessary to have a government...and there exists a "sweet zone" of taxes that will have almost no effect on the economy and a Level where every one percent of taxes raised drops tax receipts by 10%.

As Mamdami in NY and California and Virginia are finding out rather rudely...freedom of travel exists in the USA.

And as Carter largely encouraged....the businesses can even move out of the country.

If they raise taxes....the economy will die. Which would make democrats happy. Because Democrats would rather all of America become a shithole than allow the people to be ruled by the Republicans they voted for.

But you aren't in charge are you....and you have lost everything but still want the whole world to revolve around you. Your narcissistic lifestyle is destroying the whole world but you don't care. It's all about you.

Guess what?
I'd watch carefully about what they put in your food, water, IV bags and etc....

Let me remind you of one of our best times for our nation and how the taxes were then!

Rich were taxes at 70%+ and now the top rate is 37%

 

[MarathonMike]

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

The Social Security Fund has been plundered for decades and the insolvency has been forecast since Obama was in office. You are truly a deceitful person.

 

[Concerned American]

If we allow people to divert current funds from SS to lockbox accounts:

From 1935 until 1955 people retired and paid nothing or virtually nothing into the system but collected full benefits. Someone paid those recipients. Here's a hint--the same people that will lose out when the system goes bust. A ponzi scheme gone bad. It has to happen at some point. The only way to have a system that works is 'if you didn't pay anything in---you don't get anything out.'

 

[JohnDB]

The Social Security Fund has been plundered for decades and the insolvency has been forecast since Obama was in office. You are truly a deceitful person.

Insolvency has been looming since before Clinton...

Bit the huge influx of illegal immigrants being given SS benefits....that's actually done in the program.
Before benefits were being cut by the two tier configuration of inflation. Real inflation vx what SS considered inflation.and the benefit increases to keep pace with inflation.
Benefits have been reduced to ⅓ of what they once were if true inflation is considered. And yet the Biden administration gave away SS benefits to everyone....as if they had payed into it.

That's stealing from every hard working American citizen of their money causing Real harm.

It's not faceless people....it's every aged person you see. They were robbed by greedy politicians who will pay all YOUR money to secure another vote to keep themselves in office. Literally that's what happened too.

 

[Concerned American]

If you/we can't answer those questions then the "portable private accounts to replace SS" is a bumper sticker not a solution.

I don't suppose you have made any plans to supplement your retirement beyond SS. People who pay attention have and are doing quite well. You've known of this problem for your entire career. Why didn't you protect yourself? Do you understand "pursuit of happiness?' That doesn't mean the gov't is going to provide for you---nor should it.

 

[Greenbeard]

Benefits have been reduced to ⅓ of what they once were if true inflation is considered.

Total bullshit. The current crop of luxury Boomer communists are getting the richest benefits of any beneficiaries in history.

 

[AZrailwhale]

We’ll see just how depraved Republicans are, if they’re willing to do nothing and let the System fail.

The system won’t fail. Congress will simply fund the IOUs it has put into the record since the seventies when it started looting the system. That’s always been the plan, push the can down the road until it has to be put into the budget.

 

[AZrailwhale]

I never said it was his FAULT. I said he is working to make it worse, He is not even "tying" to fixt it.

It’s congresses job to fix it, not the president’s.

 

[Toddsterpatriot]

Eliminate the earnings cap. Problem solved.

If someone pays twice as much, with the cap removed, they get twice the benefit.
Sweet!

 

[AZrailwhale]

No, it is NOT fear mongering as it is happening. Raising taxes on the rich would help but Trump is looking to lower them.

Raising income taxes on the rich will do nothing for social security.

 

[JohnDB]

Total bullshit. The current crop of luxury Boomer communists are getting the richest benefits of any beneficiaries in history.

Even though they CLAIM benefits are increasing above inflation....that's simply untrue.
The average check was $1,800/mo after TAXES (a sick joke if there ever was one)
Which is way below the poverty line of $40,000/yr for the current poverty line.

Doesn't even add up to a minimum wage salary for 40 hr work week.

And it used to be significantly more than minimum wage. The dollars bough much more.
But see, if you include Medicare benefits along with SS benefits....
A slightly different story.
However the Medicare system is also full of fraud as well. Hospitals have vastly increased administrative staff but not doctors or nurses....but costs have exploded. What once ran maybe 20k-40k now is 250k.
Look at "out the door" costs for childbirth these days to just run a comparison.
Million dollar babies are the norm.

Just saying.

 

[WorldWatcher]

From 1935 until 1955 people retired and paid nothing or virtually nothing into the system but collected full benefits. Someone paid those recipients. Here's a hint--the same people that will lose out when the system goes bust. A ponzi scheme gone bad. It has to happen at some point. The only way to have a system that works is 'if you didn't pay anything in---you don't get anything out.'

Platitudes.

Now get the votes to cut off Social Security so FICA taxes go to private accounts.

Bumper stickers with no plan is one reason we're in this problem.

WW

 

[WorldWatcher]

The Social Security Fund has been plundered for decades and the insolvency has been forecast since Obama was in office. You are truly a deceitful person.

Since Obama?

Dude, we knew Social Security was in trouble in the 70's as the boomers would age into the benefits realm.

Forecast since Obama was in office? LOL

Thats why the 1983 Social Security Reform Act signed by Reagan came into existance. It was supposed to increase the Trust in anticipation of the boomers and make SS solvent for 50 years and provide the time needed for really long term modifications and stability. Well the trust is going to run out circa 2033 or 2034 so they hit that nail pretty good.

Problem is this "fix" allowed false sense of "do it later" and it wasn't just since Obama was in office.

It included Reagans second term, Bush I, Clinton (2 terms), Bush II (2 terms), Obama (2 terms), Trump 45, Biden, and now Trump 47.

Now the piper is coming due and it's going to end up being raising taxes or allowing benefits to be cut by 25% - and voters already retired and those 40-50 and above are NOT going to be happy.

And no raising the retirement age isn’t really part of the "fix" this late in the game. Because people near retirement are going to be grandfathered just like the last time they raised the full retirement age from 65 to 67. So if we raise it to 69 and grandfather anyone over 50 before increases start that 15 years before they get to where they would have been able to retire and any savings are achieved. Does nothing for the shortfall that is going to hit in about 7 years. Oh, and as another factor, I'd bet you'd see a lot more people retiring before full retirement age, even at slightly reduced benefits instead of working additional years. And those benefits are payments made out of the system reducing to overall "savings" of moving FRA.

WW

 

[WorldWatcher]

Total bullshit. The current crop of luxury Boomer communists are getting the richest benefits of any beneficiaries in history.

I notice to get the impressive number the chart from the tweet uses a "couple" where BOTH spouses then worked and paid into the system.

The average SS retirement check in 2026 is $2081 a month ($24,972) a year.

For my wife and I? Ya, we will both draw SS that we've paid into. But one one dies, one SS goes away and that is what the surviving spouse gets.

So let's talk one worker and one benefit, not try to fudge the numbers buy using a couples number.

WW

 

[Concerned American]

Now get the votes to cut off Social Security so FICA taxes go to private accounts.

Who decides where those funds are deposited? US bonds? LOL, that could be a good idea. People might become supporters of this country. If it is the recipient who decides, what happens if he makes poor investment decisions and his account goes bust? It is all moot anyway--the swamp will never give up control of a pot that big.

Bumper stickers with no plan is one reason we're in this problem.

WW

LOL, I like private investment, but as I said above, Congress will never give up control of that cash.

 

[Papageorgio]

You didn't understand that?

View attachment 1272574

What we don’t understand is your constant lying, can you explain to us why you feel a need to lie to people? Do you do that in your newsletter as well?

 

[Luckyone]

Raising income taxes on the rich will do nothing for social security.

Read the article

 

[Luckyone]

It’s congresses job to fix it, not the president’s.

The Congress does what Trump tells them to do

 

[MarathonMike]

Since Obama?

Dude, we knew Social Security was in trouble in the 70's as the boomers would age into the benefits realm.

Forecast since Obama was in office? LOL

Thats why the 1983 Social Security Reform Act signed by Reagan came into existance. It was supposed to increase the Trust in anticipation of the boomers and make SS solvent for 50 years and provide the time needed for really long term modifications and stability. Well the trust is going to run out circa 2033 or 2034 so they hit that nail pretty good.

Problem is this "fix" allowed false sense of "do it later" and it wasn't just since Obama was in office.

It included Reagans second term, Bush I, Clinton (2 terms), Bush II (2 terms), Obama (2 terms), Trump 45, Biden, and now Trump 47.

Now the piper is coming due and it's going to end up being raising taxes or allowing benefits to be cut by 25% - and voters already retired and those 40-50 and above are NOT going to be happy.

And no raising the retirement age isn’t really part of the "fix" this late in the game. Because people near retirement are going to be grandfathered just like the last time they raised the full retirement age from 65 to 67. So if we raise it to 69 and grandfather anyone over 50 before increases start that 15 years before they get to where they would have been able to retire and any savings are achieved. Does nothing for the shortfall that is going to hit in about 7 years. Oh, and as another factor, I'd bet you'd see a lot more people retiring before full retirement age, even at slightly reduced benefits instead of working additional years. And those benefits are payments made out of the system reducing to overall "savings" of moving FRA.

WW

Obama, Clinton, Reagan, Carter pick your administration. The point is the OP putting the SS problems on Trump is absolute bullshit and that guy is 80 and he knows damn well what he was doing. That's the point.

 

[EdwinAMartin]

Wages are far behind inflation, hence the lower revenues from the payroll taxes. Thanks to off-shoring, gig economy and part time food service jobs are not a replacement for high productivity jobs, so obviously the revenue stream needs to be updated. This can be done any number of ways, and isn't rocket science, and to keep raising the percentages via payroll taxes on ever lower real wages is just stupid.