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re: Will there be social unrest when monthly social security checks are cut by 22% in 2032?
Posted on 6/10/26 at 1:48 pm to HailHailtoMichigan!
Posted on 6/10/26 at 1:48 pm to HailHailtoMichigan!
We riot
0
Posted on 6/10/26 at 1:49 pm to HailHailtoMichigan!
No, I plan to be dead by then, problem solved.
Posted on 6/10/26 at 1:51 pm to HailHailtoMichigan!
I will lead the mostly peaceful protest.
Posted on 6/10/26 at 1:56 pm to SloaneRanger
quote:
Maybe someone should look into how many foreigners are getting SS payments. Many without having paid the first cent in.
No one who does not have legal US residency is getting a benefit. The only people getting a SS benefit who haven't paid into the system or spouses or children of retired or disabled recipients.
SSI is a federal welfare program run by SSA, again anyone receiving benefits has to have legal status in the US. SSI is for people disabled or age 65+ and have low income/resources and haven't paid into enough taxes to be insured for SS. SSI isn't paid out of the SS trust fund.
Posted on 6/10/26 at 2:00 pm to greenbean
Ivw always felt migrants could pay i to it as ana appreciation to the rest of the country
Posted on 6/10/26 at 2:08 pm to lsu xman
I would not. I didn’t have a choice since cancer put me on the disabled list at 54 and my disability made it so I had to go on SS and Medicare after 2-years.
I would have probably worked until 65-67.
I would have probably worked until 65-67.
Posted on 6/10/26 at 2:10 pm to HailHailtoMichigan!
They've been saying shite like this since 1988. No political party ever would allow that entitlement to fall short on their watch. They will find a way to fund it even if it means raising payroll taxes. 55+ and older vote more consistently than any demographic.
Posted on 6/10/26 at 2:20 pm to HailHailtoMichigan!
It's simple, people are living longer, (boomers) depleting what is there and there are less people contributing. Law of diminishing returns. That is also not factoring how many may be receiving that should not be.
Posted on 6/10/26 at 2:38 pm to greenbean
quote:
No one who does not have legal US residency is getting a benefit.
And the problem is that this includes people here under TPS, people paroled into the country and so on and so on. You need to understand that there are millions of foreigners getting paid.
Posted on 6/10/26 at 2:42 pm to SloaneRanger
quote:
No one who does not have legal US residency is getting a benefit.
And the problem is that this includes people here under TPS, people paroled into the country and so on and so on. You need to understand that there are millions of foreigners getting paid.
my late mil was Japanese and was a resident alien and to my knowledge never went through the naturalization process nor was ever on anyone's paroll here, she got SS for years
Posted on 6/10/26 at 2:44 pm to Night Vision
quote:
I was going to donate most of my future SS funds to a needy millennial so they could keep going to Starbucks.
Looks like Millenials will have to brew their own now.
No more frappa-lappa-cinos.
Posted on 6/10/26 at 2:45 pm to Ingeniero
quote:
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out.
don't believe that's a boomer thing
Posted on 6/10/26 at 2:46 pm to HailHailtoMichigan!
quote:
Are we just not going to address this?
No, we are not. Addressing the issue would require more modest cuts now and an increase in funding (read: taxes). No one is going to settle for either.
Social Security should never have come into existence as a government-run entity. At most it should have been a voluntary retirement fund (see: 401k).
The only way it can ever be corrected is for it to fail and replaced with market-driven solutions (again: 401k).
Posted on 6/10/26 at 2:46 pm to 777Tiger
Probably based on her spouse's earnings.
No current recipients or anyone retiring in the immediate future will get their benefits cut. What they're likely to do is extend the retirement age again, raise the cap for taxable SS earnings, means test it somehow, or a combination thereof.
No current recipients or anyone retiring in the immediate future will get their benefits cut. What they're likely to do is extend the retirement age again, raise the cap for taxable SS earnings, means test it somehow, or a combination thereof.
Posted on 6/10/26 at 2:46 pm to HailHailtoMichigan!
quote:Maybe the boomers should have worked harder.
Social Security’s retirement trust fund — which helps support payments to senior citizens, their dependents and survivors of deceased workers — is expected to be exhausted in late 2032, which is one quarter earlier than previously forecast, according to the trustees. At that time, payroll tax revenue and other income sources will be able to cover only 78% of benefits owed.
Posted on 6/10/26 at 2:50 pm to HailHailtoMichigan!
quote:
At that time, payroll tax revenue and other income sources will be able to cover only 78% of benefits owed.
Over the cliff
It goes from 100% of benefits owed one quarter to 78% of benefits owed the next? Decreasing at massively decreasing rate all of sudden? Dried up by sundown next quarter?
Guess I gotta read that sob article now.
This post was edited on 6/10/26 at 2:51 pm
Posted on 6/10/26 at 2:51 pm to Jim Rockford
quote:
Probably based on her spouse's earnings.
that's probably it, she divorced her first husband and he remarried, and his second widow got his, she(mil,) remarried and I guess she got a percentage of her second husband's SS when he passed
Posted on 6/10/26 at 2:54 pm to 777Tiger
Could have been either. You can get a percentage of your divorced spouse's earnings if you were married long enough. Pretty sure you can't double dip on two spouses though.
Posted on 6/10/26 at 2:59 pm to Ingeniero
quote::hat tip:
Boomers will just have to cut back on their avocado toast and daily coffee. Tough it out.
Posted on 6/10/26 at 3:14 pm to N2cars
quote:
to cover the truly disabled
This has been another ongoing scam over the last 25 years.
I know several "disabled" people to golf, water ski, etc. on the govmunt dime.
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