Social Security trustees warn trust fund will be depleted in 2032

A. Das19

The scary part is that Social Security IS the plan B (or at least a foundational element of it), given that it's rapidly becoming impossible to build a nest egg in this country.

WOBBLY BLACK CAT 🍉15

There's already the situation where undocumented workers who worked under assumed names and numbers paid BILLIONS into this system that they will never benefit from.

World Champion Uphill Ice Skater9

that presumes there's a plan A

Baggage8

The Australian Temu Trump party are muttering about limiting benefits to Citizens, not those fly-by-night, un-Australian 'permanent resident' tax payers. Joking aside: the US billionaire foundations and their friends fund the same ideological campaigns overseas. It's worth watching. #AUSPOL

Steven Toth8

I guarantee that was always one of their plans. A lot of money in social security only exists because immigration is so hard and it’s easier for businesses to get tax ids than visas.

Grumpy Rootbeer5

Unfortunately Elon Musk and the rest of the tech elite have their eyes on that Plan B, too. It's simply intolerable to them that everyday people have money available to them for retirement.

TommyBen3

They’re already throwing people off Social Security with worse outcomes than a missing check. Act 2 is crazy but obvious. www.thisamericanlife.org/888/not-toda...

Greg 🇨🇦🥁🎸3

Or defeat them at the ballot box.

🦊 🩵🐦‍⬛ Fox & Crow, for Bartleby Endeavors 🎥3

As an entitlement, ie self funded, it would be difficult to imagine a scenario in which the courts would allo…oh my God, I can’t believe I almost got through all of that without cracking up. Like the courts aren’t stocked with crazed fascist true believers. lmao rofl

no one3

if you’re not a billionaire you might want a backup plan

Ryan2

Which is ofc self defeating as most right wing sh&t is bc more immigration is the actual solution to the problem

George Moser4

There are a number of ways to fix Social Security. What people don't talk about is that it isn't just high earners who don't want to pay more - It's the businesses that pay half of the payroll tax. The business are the ones that have the politicians ears. For a lot of corporations it's lots of $$.

Veronica 🇺🇸 🇮🇹 🇺🇦 🇳🇴 🇲🇽 🇩🇪 🇨🇦 🍁4

When policy choices accelerate depletion of Medicare’s trust fund, the impact isn’t abstract, it’s fewer guarantees for seniors who paid into the system for decades. Fiscal decisions carry human consequences, and weakening core programs shifts risk onto those least able to bear it.

Tina - Release the #EpsteinFiles|Resistbot Text RESIST to 504094

it’s always about saving the rich from actually having to pay their fair share.

KnightHawk3

Yes! I been trying to tell people this for years!

Joe Otruba2

There should be NO CAP. Having one is a gift to the higher earners who really don't need that money to survive. All of that over the cap income goes into a bank account and is barely, if at all, noticed by the higher earners. But it's the corporations that are really behind this.

slynnw.bsky.social2

It won’t hurt the filthy rich one tiny bit, other than having to contribute to the society that created them. (Throws self on expensive marble flooring.) Oh the horror, the sheer unadulterated agony of having to pay just like everyone else. It’s a tragedy. I’ll only have billions & billions left

𝗔𝗻𝘁𝗶𝗴𝗼𝗻𝗲 | 𝗔𝗴𝗮𝗶𝗻𝘀𝘁 𝘁𝘆𝗿𝗮𝗻𝘁𝘀 & 𝘁𝗵𝗲𝗶𝗿 𝗲𝗻𝗮𝗯𝗹𝗲𝗿𝘀. 𝗙𝘂𝗹𝗹 𝘀𝘁𝗼𝗽.2

Yeah, my 62½ start date is in almost next year. So basically I paid in for almost 40 years, and might get five back. Oh, and women in my mothers family live to be over 100yo. For a couple generations.

Veronica 🇺🇸 🇮🇹 🇺🇦 🇳🇴 🇲🇽 🇩🇪 🇨🇦 🍁2

Trump's Social Security Double Whammy Can Expedite Its Insolvency Trump's policies and actions threaten to shorten the timeline to sweeping Social Security benefit cuts. www.fool.com/retirement/2...

Rob Mace2

If the cap goes to a million dollars, the fund is solvent in nail 2078

This is why we fight2

I'm GenX. My husband and I both started paying into social security as teenagers. We have zero confidence it will be there for us. If it is, we'll count it as an unexpected surprise.

The wrong Alice2

Agreed! Simple fix. Push for it. Cant help mention that a fix wouldn't be necessary if congress hadnt stolen (borrowed and never repaid) money from the Social security fund to cover the cost of wars and corporate tax breaks -

MileHigh420☭11

Not surprised, they are really speed running WW3 and Fallout timeline. We need to remove Trump and the MAGA fascists at once !! We must fight. They also plan on rounding up all the people who criticize Trump.

waldgheist.bsky.social6

Well I sure hope every single person who voted for him enjoy the fruits of their vote, and no it's not the democrats or libtards or woke or gay. It's Trump and the GOP.

Oldrunner6

Of course his approval won't turn around in time. He's doing absolutely nothing that might make that happen.

DesertYETI4

There are going to be a lot of VERY good CNN journalists who flood the market. Anderson Cooper and Kasie Hunt top of the list.

Stashes4

During a State of the Union address, President Biden asserted that some Republicans wanted Social Security and Medicare to "sunset" or expire. This triggered severe pushback and heckling, with GOP lawmakers—notably Rep. Marjorie Taylor Greene—shouting “liar” from the audience.

northstar4

The intentionality is lethal. It is some twisted ideology. They aren't all just in it for the grift. It's bad enough that this is our story, but it doesn't have to be our ending.

Arlene1977 🌊😎 🚫DM3

Medicare and Social Security has been on the Republicans agenda since the day it was put in place. They have the mentality that they are paying this out of their pockets. We contribute to SS for this coverage.

CalleyCat2

Republicans break any promise to speed up the death rate.

Bright Bart2

These slow days are a downer…

𝓢𝓬𝓸𝓸𝓽𝓮𝓻 𝓣𝓻𝓪𝓶𝓹2

They "may not turn around in time"? 🤣🤣🤣

Hugo Edwin2

Because Trump needs a lifetime tax exemption!

knhps.bsky.social2

Bari Weiss is where TV news goes to die.

Mark2

We will just have to take all his assets!

David Lewis8

Trump is directly aiding this. How? By deporting thousands of immigrants who pay into the SS trust fund (a substantial portion of whom are here legally or have violated no law except being found here). I bet a lot of seniors don't get that.

crapstorm.bsky.social7

tRump trustees? Tell Bush and Cheney to pay back what they stole for phony Iraq war

fharriman.bsky.social7

How many established gov't jobs did Trump cut???? All those contributions ...gone,

Kimby6

I retired in 2023 and knew this was coming. I made a plan but fight for our reps to increase the taxable income level. This won't happen under the current regime so people better vote Dem if they don't want a decrease to their SS. Make it personal.

Crazy Italian Lady6

Put income eligibility caps on it so the super rich can’t receive benefits, and tax super rich. Call the NYC mayor. He can fix it!

commonphoole.bsky.social2

Can't we just agree to remove the cap on Corporate matching Contributions? If a corporation can pay a million dollar bonus can't they pay FICA on the same bonus?

teamrecks.bsky.social2

I wish I could be there when it happens

CarRamrod41216

Lift the cap, problem solved.

Edward Banatt6

Scrap the cap. It's not rocket science.

James Jones3

Easy fix: 1) raise the FICA income ceiling, and 2) add FICA to capital gains with a $250,000 deductible.

Breathe Free3

Many ways to fix it, but it would mean people care about other people.

The Resistance CO2

Fuck yeah! Guess I got taxed for nothing. Thanks for everything boomers! Pulling the ladder up behind you is such a boomer thing to do!

😳2

I thought they eliminated billions in fraud though. All those millions of payments going to dead people.

therobduff.bsky.social2

Maybe billionaires start paying their way like the rest of us.