Social Security Is Going Broke

[ClydeR]

Washington (CNN)Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.

More... (https://www.cnn.com/2021/08/31/politics/social-security-medicare-report/index.html)


In what presidential election will the Social Security shortfall become a big issue? 2024, 2028 or 2032? I say 2028.

How could it be fixed? Raise the tax rate on earnings. Increase the amount of earnings subject to the Social Security taxes. Means test benefits. Cut everybody's benefits. Accounting trickery.

[~Rocktar~]

In what presidential election will the Social Security shortfall become a big issue? 2024, 2028 or 2032? I say 2028.

How could it be fixed? Raise the tax rate on earnings. Increase the amount of earnings subject to the Social Security taxes. Means test benefits. Cut everybody's benefits. Accounting trickery.

Covid kills off all the old people and it won't be an issue.

[Suppa Hobbit Mage]

I didn't think SS was going broke, thought bennies were just going to be at like 79% after 2034. Either way, if you intend on living on SS when you retire, even the gov thinks you crazy. It should be like 40% your income.

[Suppa Hobbit Mage]

Also, analysts predicted this in the 80's, the last time they bumped the govt fund that SS comes out of. Congress will do nothing until 2033, so relax.

[Seran]

Covid kills off all the old people and it won't be an issue.

This

[Seran]

That and kicking all the folks off of indigent social security because they're sad or coughed at one point in their childhood.

[Parkbandit]

That and kicking all the folks off of indigent social security because they're sad or coughed at one point in their childhood.

https://c.tenor.com/TD-JUPytEJsAAAAC/are-you-having-a-stroke-liz-lemon.gif

[kutter]

https://c.tenor.com/TD-JUPytEJsAAAAC/are-you-having-a-stroke-liz-lemon.gif

Are you suggesting that SS Disability is not rampant with fraud? If so you are truly living in denial.

[Parkbandit]

Are you suggesting that SS Disability is not rampant with fraud? If so you are truly living in denial.

No. Every.Single.Government program is ripe with fraud.

I didn't get that point from Seran's post though.

Thank you for translating it for me.

[ClydeR]

The recent news about bananas and peanut butter will not improve the finances of Social Security.

A new study (https://www.insideedition.com/eating-a-single-hot-dog-may-take-36-minutes-off-your-life-study-says-69504) has quantified the number of minutes added or subtracted from your life based on what you eat. For example, a hotdog will shorten your life by 36 minutes. Did you win a hotdog eating contest? Too bad for you. On the other hand, a banana will increase your life by 13.5 minutes.

Want to live forever (https://www.youtube.com/watch?v=4eO_upOWkwY)? It turns out that a peanut and jelly sandwich will increase your life by 33.1 minutes. If you prepare it Elvis style, that's actually 33.1 minutes + 13.5 minutes for a life increase of 46.1 minutes. All you have to do is eat 31.24 Elvis fried peanut butter and banana sandwiches every day. If you do that, you'll never age. It's basic math.

You're probably doing to say something dumb like, "Well, why did Elvis die at the young age of 42 in 1977?" To which I will reply, "Did he?"

[kutter]

Hey! Don't be busting on the King! I used to think the thought of one of those sandwiches was disgusting and then I had one. A just ripe banana all mushed up and some good peanut butter, cook it like a grilled cheese with butter on some thick cut bread, ooooo baby! So good, but not good for you, whatever someone's life index says.