re: Will there be social unrest when monthly social security checks are cut by 22% in 2032?

Even factoring all disabled people, and their dependents, you only hit about 11%.

A big number, but not the majority, and not enough to fix SSI.


Worker and businesses should be given an option where a very small % comes out of their wages to cover the truly disabled, but then they forego receiving any SSI when they retire.

quote:

---

At this point if you're counting on social security as your sole source of income in retirement you're likely screwed.

---

It's funny how they tax you to pay into it and then tax you again when you get paid out of it.

I would take this a lot of more seriously if we weren't burning money left and right for shite like Iran, Ukraine, etc. And constantly dipping into the SS fund to begin with.

Just remove the social security payroll tax cap.

quote:

---

But you count on your 401k or other investments? you pay into all of them...i paid into social security i sure as hell expect to get what i paid into

---

just mentally consider it an additional tax (which it is since it goes into a general revenue account) and you will be mentally happier

quote:

---

'm planning for it to not even be solvent by the time I can draw from it.

---

been hearing that since jhs civics class over half a century ago, it's still here

The annual threshold of the tax on earnings has increased significantly in recent years. I bet someone will save the day to propose a threshold of like 1,000,000 to better fund it.

I don’t know if I’d support that big of a jump, maybe?

This. Nothing will happen. I have heard since the 1980’s that SS would run out and I have planned accordingly. Just cut a check of what I have paid in pretax and I will even waive interest. I’ll call it even.

I don’t need it but could help my grandchildren more if I could invest that money in something other than the government.

But we’ve got money for bombs, bullets, ballrooms. Billionaires, and arches.

Not gonna happen

I am pretty sure when I was younger.. Early teenager maybe, there was a report that by 2014 (im paraphrasing. but it was a year that has already passed) SS would run out and people were all worked up for about.. a week then everyone forgot about it

But as for as the question, if it was a bunch of people in their late teens and twenty who this happened to I think there would be social unrest. But if it happens people will just have to unfortunately adapt. The cost of living is too high right now. Prices spiked during the Covid shite and despite hearing and reading "cost will go back down a year or two after everything is completely back up and running", but if everyone who receives SS all of a sudden gets 22% less than they have been then that's 22% less, per person who receives SS that goes back into the economy and some how that will be passed on to the induvial consumers. So not only will they get 22% less, they will feel it at the store.

I say this as a whole. I don't think where we are economically can go on for a long period of time and at some point there will be a crash that will separate the mega wealthy from everyone else and long term that might be the best thing that can happen, but who knows.