So you believe AARP versus the Social Security Administration (SSA) Trustees?
Maybe you should read what the SS trustees say:
As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037,
when the trust fund reserves are projected to become exhausted.1
At the point where the reserves are used up,
continuing taxes are expected to be enough to pay 76 percent of scheduled benefits.
Social Security Administration Research, Statistics, and Policy Analysis
www.ssa.gov
Will Social Security run out of money? Here’s what could happen to your benefits if Congress doesn’t act
A recent report found that starting in 2034 retirees will only receive part of their benefits.
Updated Sun, Jul 30 2023
However, the recent
2022 Social Security Trustees report finds that in 2034, retirees will start receiving a reduced benefit if Congress doesn’t fix funding issues for the social program. In other words, Social Security will exist after 2034, but retirees will only receive 77% of their full benefit starting then.
A report from the Social Security trustee board indicates that full benefits will no longer be available in 2033.
www.cnbc.com
“By 2034 (previously 2035), there will be
77.0 million (previously 78.0) people 65 years and older compared to 76.5 million (previously 76.7 million) under the age of 18."
The year 2030 marks an important demographic turning point in U.S. history according to the U.S. Census Bureau’s 2017 National Population Projections.
www.census.gov
VS today 2020 Census: 1 in 6 People in the United States Were 65 and Over
The older population reached 55.8 million or 16.8% of the population of the United States in 2020.
The U.S. population age 65 and over grew from 2010 to 2020 at fastest rate since 1880 to 1890 and reached 55.8 million, a 38.6% increase in just 10 years.
www.census.gov
NoW dummies like you obviously don't KNOW that if you are employed, almost all employers ALSO pay SS 6.2% of
employees salaries. So consequently they aren't working, they aren't paying 6.2% in SS AND MATCHED by employer 6.2%!
So dummy Dag... If there are 22 million MORE over 65 by 2034 and if there are more people getting SS, AND there are fewer people and employers PAYING the 12.4% in payroll taxes.... WHAT will happen?
Lower SS payments, more borrowing of Federal funds and our economy really in the crapper!