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re: Social Security has 6 years left, cut benefits or raise taxes?
Posted on 3/20/26 at 2:59 pm to TigerintheNO
Posted on 3/20/26 at 2:59 pm to TigerintheNO
Ya'll act like boomers have had power for a century. At the same time, Gen X and millennials are still too young to do anything. Your middle-of-the-road boomer was still in their 40s in the 90s. Most didn't even reach an age of "power" until the 2000s.
1
Posted on 3/20/26 at 3:05 pm to Cosmo
quote:
Bless your heart if your retirement plan includes social security
FML
Posted on 3/20/26 at 3:05 pm to rob0710
quote:
SSDI is processed through Social Security office but it's totally different funding.
I thought this as well until I checked. But 0.9% of the 6.2% of FICA tax is allocated to pay SSDI recipients. OTOH, SSI, which is administered by the SSA, comes from Federal income tax, that is, the general fund.
Posted on 3/20/26 at 3:10 pm to Tiger in NY
quote:
Penn Wharton is a completely left leaning outfit. Of course they want to raise taxes
Penn Wharton is saying raising taxes would be the worst option. They believe the best option would be to raise the age and cut benefits.
Posted on 3/20/26 at 3:15 pm to Colonel Angus
Yes, but now 2032 is only six years away. Which is three years earlier that what had been forecasted.
Posted on 3/20/26 at 3:15 pm to back9Tiger
quote:
If it was never brought up for a vote, how could they have reformed it?
I'm talking about boomers also. the govt has seen this coming for over 25 years. There were plenty of politicians who brought up reform that were portrayed as "stealing old people's money"
Posted on 3/20/26 at 3:15 pm to TigerintheNO
The country is going bankrupt. Fraud, laziness, multiculturalism, endless wars, corruption.
Buy ammo and precious metals. It’s going to get ugly in the next decade or two as a smaller and smaller percentage of producers carry a heavier and heavier load for a ever growing larger percentage of takers
Buy ammo and precious metals. It’s going to get ugly in the next decade or two as a smaller and smaller percentage of producers carry a heavier and heavier load for a ever growing larger percentage of takers
Posted on 3/20/26 at 3:18 pm to TigerintheNO
SS was sold as an insurance program by FDR… denoting a system thats only paid under certain circumstances… but immediately became a universal retirement program. If it’s retirement, then its going to cost more and they need to be honest about that. We’re not having kids. No kids? No future money. Immigration wont fix this, as it would require so many that we would essentially cease to be real country anymore. Most wont stand for that.
If its an insurance program, then fewer people will draw it, and we meed to be charged less for it. We as a nation need to make up our minds about what it is.
If its an insurance program, then fewer people will draw it, and we meed to be charged less for it. We as a nation need to make up our minds about what it is.
Posted on 3/20/26 at 3:19 pm to Scruffy
quote:
Kill it entirely. If the older generations didn’t plan well enough to survive without that Ponzi scheme, too bad.
Pay out the benefits to those over 55. Kill the program for those under and just refund what they already paid in over the next 20 years through a tax deduction
Posted on 3/20/26 at 3:22 pm to TigerintheNO
Offer a lump sum to opt out for anyone going forward
$15-$20K lump sum payment, you won’t receive any benefits later in life, no longer have to pay in though.
The majority of the leaches will take the short sighted payout.
Those that don’t need it will take the exemption to continued payments.
Require an annual contribution threshold for anyone remaining in the program. No job or contributions for a year? Lessened payouts in retirement.
$15-$20K lump sum payment, you won’t receive any benefits later in life, no longer have to pay in though.
The majority of the leaches will take the short sighted payout.
Those that don’t need it will take the exemption to continued payments.
Require an annual contribution threshold for anyone remaining in the program. No job or contributions for a year? Lessened payouts in retirement.
Posted on 3/20/26 at 3:23 pm to Mushroom1968
quote:
Ya'll understand boomers didn't start social security, don't ya'll?
yea but continued it to the point of it breaking when it could have been reformed
They've been in power since the late 80s and haven't done jack shite
Posted on 3/20/26 at 3:25 pm to Mushroom1968
quote:
Most didn't even reach an age of "power" until the 2000s.
Bill Clinton is a boomer and was president in 1992
They had the numbers to out vote the older 2 generations for 40 years
Posted on 3/20/26 at 3:27 pm to fareplay
quote:
Optics are everything. Lose close. Be frustrated. But you can say “almost”. But lose by 25 after being down as much as 40? You just can’t do that.
29 downvotes because your are offering real context instead of having a Poli Board-style braindead pep rally. Way too much Poli Board leakage on this board.
Posted on 3/20/26 at 3:39 pm to Midtiger farm
quote:
Bill Clinton is a boomer and was president in 1992
They had the numbers to out vote the older 2 generations for 40 years
Bill Clinton is on the very old end of the boomer age range, and he was only 46 when he became President, which is very young. If you go in the middle of the boomer generation and say someone born in 1955. They were 45 at year 2000. The younger boomers, hitting "peak political age" let's just say 50, were in their 30s in 2000.
This post was edited on 3/20/26 at 3:41 pm
Posted on 3/20/26 at 3:48 pm to Mushroom1968
quote:
They were 45 at year 2000.
So were they not allowed to vote when GWB wanted to reform it? But they knew it wouldn't run out by the time they collected so they were against it then they fiscally bankrupted this country a few years later - then 12 years after that they perpetuated one of the worst human rights disasters in history
Posted on 3/20/26 at 3:51 pm to TigerintheNO
What politician is going to want to:
- cut benefits
- raise taxes
They’ll continue to do what they do best and kick the can down the road until it blows up in their faces
- cut benefits
- raise taxes
They’ll continue to do what they do best and kick the can down the road until it blows up in their faces
Posted on 3/20/26 at 3:54 pm to Scruffy
If they offered just 1/2 of what I paid in to this point, and didn't ever have to pay in another dime, I'd take it for privatization.
It is a BS deal.
It is a BS deal.
Posted on 3/20/26 at 3:57 pm to Nado Jenkins83
quote:
They better have my money
Sad that over 100 people don’t understand that YOUR money was spent the second it was taken out of your paycheck.
The money you were set to receive once you reached 65 was not YOUR money. It’s OTHER PEOPLES money being taken from them and given to you.
Posted on 3/20/26 at 4:02 pm to Midtiger farm
A Democrat started it in 1935.
A Democrat is damn sure not going to end it.
That said, they all lack the intestinal fortitude to challenge it.
A Democrat is damn sure not going to end it.
That said, they all lack the intestinal fortitude to challenge it.
Posted on 3/20/26 at 4:10 pm to Scruffy
quote:
Kill it entirely.
If the older generations didn’t plan well enough to survive without that Ponzi scheme, too bad.
Oh I’ll get it one way or another. Meet me at Sonic, I’ll beat it out of your arse.
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