The Most Fresh & Cordial Political Thread Ever

[Giantone]

Originally Posted by SunnySide

I care about SS. Been paying into it since I was 14 working at baskin robins.

I just assume there will be nothing for me in 20 or so years when Im eligible.

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Fair to say the unspoken (or maybe spoken) point of raising the age limit for SS .. is so people die off and dont get to collect on what they put in?

Sounds .. a little morbid.

Many of you are younger and hear some of the BS about SS. (not a shot I swear!)
this is pretty good.


https://www.aarp.org/retirement/soci...explained.html

10 Social Security Myths That Refuse to Die

[SunnySide]

Originally Posted by Giantone

Many of you are younger and hear some of the BS about SS. (not a shot I swear!)
this is pretty good.


https://www.aarp.org/retirement/soci...explained.html

10 Social Security Myths That Refuse to Die

Social Security does face funding challenges. For decades it collected more than it paid out, building a surplus that stood at $2.85 trillion at the end of 2021. But the system is starting to pay out more than it takes in, largely because the retiree population is growing faster than the working population, and living longer. Without changes in how Social Security is financed, the surplus is projected to run out in 2035, according to the latest annual report from the program's trustees.

Even then, Social Security won't be broke. It will still collect tax revenue and pay benefits. But it will only bring in enough to pay 80 percent of scheduled benefits, according to the latest estimate. To avoid that outcome, Congress would need to take steps to shore up Social Security's finances, as it did in 1983, the last time the program nearly depleted its reserves. The steps then included raising the full retirement age (see Myth #2), increasing the payroll tax rate and introducing an income tax on benefits (see Myth #8).

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G .. how da fuq does that make me feel better?

2.85 TRILLION SURPLUS as of 2021 will be wiped out in 14 years?

Only pay 80% of its scheduled benefits?

If that shit is supposed to hit he fan in 2035 .. there wont be shit left over for me in the year 2049 when I (hopefully) turn 70.

Dang it .. its WORSE than I feared.

Am I reading this article wrong?

[MTK]

Originally Posted by SunnySide

Social Security does face funding challenges. For decades it collected more than it paid out, building a surplus that stood at $2.85 trillion at the end of 2021. But the system is starting to pay out more than it takes in, largely because the retiree population is growing faster than the working population, and living longer. Without changes in how Social Security is financed, the surplus is projected to run out in 2035, according to the latest annual report from the program's trustees.

Even then, Social Security won't be broke. It will still collect tax revenue and pay benefits. But it will only bring in enough to pay 80 percent of scheduled benefits, according to the latest estimate. To avoid that outcome, Congress would need to take steps to shore up Social Security's finances, as it did in 1983, the last time the program nearly depleted its reserves. The steps then included raising the full retirement age (see Myth #2), increasing the payroll tax rate and introducing an income tax on benefits (see Myth #8).

-------------

G .. how da fuq does that make me feel better?

2.85 TRILLION SURPLUS as of 2021 will be wiped out in 14 years?

Only pay 80% of its scheduled benefits?

If that shit is supposed to hit he fan in 2035 .. there wont be shit left over for me in the year 2049 when I (hopefully) turn 70.

Dang it .. its WORSE than I feared.

Am I reading this article wrong?

As A-Rod would say, Relax.

The Gov't would have to go full retard to let the shit hit the fan on SS.

Deadlines spur action. So don't count on any serious reform until they have to.

[SunnySide]

Originally Posted by MTK

As A-Rod would say, Relax.

The Gov't would have to go full retard to let the shit hit the fan on SS.

Deadlines spur action. So don't count on any serious reform until they have to.

But the "serious reform" = raising the age limit = fan covered in shit just slinging it around the room like a blender that lost its top

[Giantone]

Originally Posted by SunnySide

Social Security does face funding challenges. For decades it collected more than it paid out, building a surplus that stood at $2.85 trillion at the end of 2021. But the system is starting to pay out more than it takes in, largely because the retiree population is growing faster than the working population, and living longer. Without changes in how Social Security is financed, the surplus is projected to run out in 2035, according to the latest annual report from the program's trustees.

Even then, Social Security won't be broke. It will still collect tax revenue and pay benefits. But it will only bring in enough to pay 80 percent of scheduled benefits, according to the latest estimate. To avoid that outcome, Congress would need to take steps to shore up Social Security's finances, as it did in 1983, the last time the program nearly depleted its reserves. The steps then included raising the full retirement age (see Myth #2), increasing the payroll tax rate and introducing an income tax on benefits (see Myth #8).

-------------

G .. how da fuq does that make me feel better?

2.85 TRILLION SURPLUS as of 2021 will be wiped out in 14 years?

Only pay 80% of its scheduled benefits?

If that shit is supposed to hit he fan in 2035 .. there wont be shit left over for me in the year 2049 when I (hopefully) turn 70.

Dang it .. its WORSE than I feared.

Am I reading this article wrong?

I doesn't . I'm old enough to take it but waiting till 70(3 years). It's reality so many lies out there, the facts need to be shown. All joking aside I was young and didn't give a shit and then got older and thought cool it's a retirement supplement. Medicare, everything has gone through the roof. I had a retirement plain but the cost of living over the last 10 years and the Market has killed it.