re: The payroll income cap increases every year. Why is SS going broke?

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Because the Government runs it.

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Tied with.. Because they want it to.

Government isn't really worried about it, they can always magic more money into existence. They only fret over it during election cycles. It's a cudgel to used against political opponents AND taxpayers.

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1. Raise retirement age.
2. Cut benefits.
3. Raise payroll tax percentage.
4. Raise the rate of year over year payroll taxes on income caps.

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All of these are on the table, because who in DC doesn't love putting more burden on the citizens, but nothing that really fixes the problem will happen until the whole thing collapses.. and nothing will happen then either.
Because they hate you and don't care.