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.
be strategic. don’t get the restaurants and coffee shops please
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] .
“Lets tie more things to how the stock market is doing” is a crazy take for a fund that’s supposed to be stable.
Just out of the Boomer demographic. Convenient.
I cannot believe how many boomers I heard express doubt as to whether they’d ever collect it, since they thought it was going to be Greatest Generation/Silent Generation taking it all.
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.
Social Security would be the easiest thing to fix, and honestly, it’d be hugely popular, too.
Just raise the cap.
I would be “negatively” affected with the raising of the cap. I still support raising the cap.
It’s kind of insane to me that there’s an annual cap on social security payments. If your salary is high enough, you stop paying into it partway through the year. That’s ass-backwards. You shouldn’t pay anything for the first chunk of money, and then pay more as you make more.
Yup.
Social security is one of, if not the most popular, government program with Americans.
Looking at Social Security and the constant gaslighting about how it’s a “Ponzi scheme” and it’s “going to fail at year X” demonstrates not only how out of touch the Epstein class we have for politicians are, but also the extent they and the corporate media is willing to go to give a false impression about things.
It could easily be made solvent with just a few steps, all of them quite popular with the American people.
People already have a shocking lack of saving. We have had the cons trying to destroy Social Security since its inception, and now we get fElon telling people they won’t need to save for retirement, FFS:
If your salary is high enough, you stop paying into it partway through the year. That’s ass-backwards.
It looks ass-backwards when viewed in isolation and today’s tax policy. When the cap rule was put in place in 1937, the marginal tax rate was 79% and this would be for income over $5million ($115million in 2026 dollars). The cap was in place because the Social Security benefit doesn’t increase above the that income.
We broke the system by removing that large marginal tax, but leaving the Social Security income cap in place.
It’s exactly for these kinds of anachronistic things that when I see someone right now agitating to have some kind of age cutoff for people in office, I have a lot of skepticism.
It’d be ironic for government to put a cap into place for age of 65 (say) and then soon after, humans often start having longer and longer healthspans, extending over 100 and possibly beyond.
For that matter, it’d be interesting to see how the Social Security system responds to longer and longer healthspans. I have a feeling that cons would be quite quick to start agitating to raise the retirement age because they always seem very keen on having people working more, even when they don’t want to. They also love to take away services and benefits from the average American.
It’s easy to see how slow our system responds based on the realities going on around us.
It’s exactly for these kinds of anachronistic things that when I see someone right now agitating to have some kind of age cutoff for people in office, I have a lot of skepticism.
It’d be ironic for government to put a cap into place for age of 65 (say) and then soon after, humans often start having longer and longer healthspans, extending over 100 and possibly beyond.
I would certainly entertain an age cap on office holders. What we have right now with almost entirely geriatric leaders is the lack of representation of those not in the senior citizen demographic. Its a version of tyranny of the few. This is exacerbated by the voting power being focused in those that don’t have the suffer the consequences of their choices, and instead leave those for younger generations.
I’m open to other ideas about how to address this too, but I don’t dismiss an age cap on office holders immediately.
For that matter, it’d be interesting to see how the Social Security system responds to longer and longer healthspans.
You don’t have to wonder. We’ve experienced this already in the life of Social Security. The original blueprint wasn’t designed to have a large retired population. You were supposed to die before reaching retirement. Social Security was to support the aging survivors that didn’t die yet to keep them out of abject poverty.
Retirement age increase is only one of three or four big levers on how to alter how Social Security operates and is maintainable.
hey, when you study history you aren’t supposed to study economic and tax systems knock it off
If you were rich you would feel the opposite. You’d feel that you don’t/won’t need social security so you shouldn’t have to pay for a service you won’t use.
And those special snowflakes should be told: with great power, comes great responsibility.
I’m not sure about the rich, but most people don’t like being surrounded by homeless and starving people. They also don’t like seeing their extended family homeless and starving after working their whole lives.
They also absolutely do not want to pay for social services that would minimize those people being seen.
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 further sabotage it to privatize it more and charge us more for less. They did the same thing with social security.
Say no to the government DEFAULTING on America!
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.
Gen X here. You’ve nailed the aesthetic of being Gen X very, very well.
Pulling up the ladder behind them.
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.
Well, I saw fElon say people won’t even need to save for retirement, because, well, reasons. Because that dumbass can see the future.
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!
We should use all these savings on our tiny military.
We’ll just end the program and people will joonger have to contribute! Honestly the number of fuckwits who would be excited about this is the sad part. Then they’ll cry the leopards are their face when they are being forced into amazon labor camps at 83. Stupid people can’t keep nice things. They never understood their value and didn’t have to sacrifice for them. So the lesson will have to be learned again.
Nuh-uh, they’ll obviously be rich in the future and then people like them better watch their step!
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.
Anything to continue draining all possible dregs of M2 money supply into the stock market, artificially inflating it’s values. That’s why 401k’s exist and not pensions; the gambling machine only continues to work if there is effective infinite liquidity to continue pumping up it’s values. And scamming the working class into “saving” by dumping their cash into said gambling machine is just another way to do it.
eh, the idea is to pump it as high as possible so you can slam it down even harder. when you know how the casino works, you can make just as much (if not more) on the bust-end of the boom/bust investment cycle
That’s why 401k’s exist and not pensions
Honestly, pensions in the USA today are more risky than 401ks. Pensions require the parent company to still be solvent 30-50 years. A number of formerly bellwether companies with heavy pension burdens have gone under an the the pensioners only receive a fraction of the promised benefits.
Some of the public pensions look very worrisome too. As an example, I have no idea how Detroit is going to manage their pension commitments with its rising costs, declining population, and high number of pension members.
For all its faults, 401k money is the employee’s the moment its paid with no dependency of the employer to be around afterward.
Are we expecting the stock market of the crash any day now due to the AI bubble?
Doesn’t matter if it’s the AI bubble or something else.
It will crash.
It will hurt lots of regular people. Even some “rich” people.
It will not hurt the ultra rich, they’ve rigged the game so they always win. They’ll be able to hoard even more wealth.
Yup. AI, stock market, doesn’t matter. The next big pop is a tactical nuke to bring everyone but the ultra wealthy to their knees.
Except the stock market can’t crash if enough trillions of dollars are injected into rich folk’s pockets.
Whether that’s the reason or not crashes do happen.
*In the US
Yes, Social Security is a US retirement program.
