re: 'You earned it, you keep it act' bill would eliminate taxes on Social Security

quote:

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You do realize that your benefit is paid on the wages you earned and social security taxes you paid in during your working years?

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I get this sentiment, but how is it going bankrupt then?

If it's how you claim - you're just getting what you paid in - then why does it matter if I pay? Your generation's pot of money should pay for you.

The reality is that workers surviving to retirement age has increased, extending survivor benefits for those that die before/after retirement, and people living to be older than the program intended are what is draining it. Politics prevents the above from being corrected.

Having more "workers" paying to cover the current beneficiaries only masks the problem; a sort of pyramid scheme. At some point you can't keep growing workers/population at which point that generation would be screwed.

Lastly, imo, SS is one of the easier problems to fix relative to the slew of government problems. Healthcare is a much more difficult problem, as is the expansion of government handouts.