Viewing a single comment thread. View all comments

zanisnot t1_jc1zuvf wrote

Problem is population. When population growth goes flat or negative the truth of this program becomes evident. It’s like multilevel marketing.

−2

retrovaporizer t1_jc21dr1 wrote

you make it sound like there arent ways to account/fix for that. you can increase revenue/taxes, reduce payouts a certain %, increase retirement age, etc. Of course none of those things are politically popular, but its fear mongering to suggest that SS is at risk of going insolvent. On the current trajectory without any changes the program can continue to pay out to retirees, just at reduced rates.

8

smurficus103 t1_jc2bgge wrote

I've had teachers in grade school talkin' about this since like 2002: there's going to a be a lot of retirees collecting and a lot less kids paying in than ever. Boomers that paid ss their whole life don't feel like their payments should be reduced. Their kids don't feel like they should pay disproportionately more. It's going to be a massive conflict.

Had the fed not used up s.s. as if it were just another federal tax, it would've been fine, i guess

7

ktxhopem3276 t1_jc2hl17 wrote

Lots of issue at play but there aren’t a lot more boomers than younger generations. Their were more boomers than previous generations which allowed boomers parents to get a gift. Add immigration and population affects are a wash. One issue is wealthy hoarding money above the payroll income tax cap more so than in the past

> Had the fed not used up s.s. as if it were just another federal tax, it would've been fine, i guess

That has zero affect in solvency. The IOUs are legally obligated to be paid back. This is a fake issue pushed by republicans. The government will find a new buyer of the debt when it comes time for ss trust fund to sell it

4

munchi333 t1_jc30opd wrote

You said it yourself though: fixing SS is extremely political unpopular.

You need to either reduce benefits or increase taxes. Neither are good options.

5

breaditbans t1_jc58x0b wrote

Or get more workers to pay in. Turns out, there are literally millions of people all over the world dying to get to the US and work.

1

retrovaporizer t1_jc33geq wrote

sure, but my bigger point is its not an "like an MLM marketing" scam, as the prior poster was suggesting

0