All of these falsehoods about Social Security when the real data is readily available. A truly sorry state of affairs.
https://www.aarp.org/retirement/social-security/info-2016/debunking-six-more-myths-about-social-security.html
It will run out in 2034 but still be able to pay 80% of what you'd normally get if the present state of affairs remains the same. Just raising the cap on S.S. from to around 135,000 will extend the 100% payout about 30% further into the future. Before this year the cap was around $128,400 and this year it will go up to $132,900. Part of the problem was recognized.
It's hard for me to follow and retain all the figures but it's not rocket science. It's policy. As long as you have one side of the equation believing that S.S. should fail (since they believe government shouldn't be involved), then they will do and say everything they can to ensure it's failure.
Those on the other side of the equation, see a very simple way to keep it going, and under ideal conditions, double the payout and still be solvent forever.
If the cap is removed, entirely, then you could double the monthly payout, which would be nice for those who've been robbed and deprived of their pensions. Also, if you grant a path to citizenship for the undocumented who already work here (and pay 10-12 billion a year in taxes for services they will never receive), you'll have that base that will pay into the fund, paying it forward. It's how our S.S. has operated since it's inception.
Again, it can be done if you want it to work in your favor, or you can cut your nose off to spite your face, just to affirm some misplaced convictions.
All the best,
Nonoise
https://www.aarp.org/retirement/social-security/info-2016/debunking-six-more-myths-about-social-security.html
It will run out in 2034 but still be able to pay 80% of what you'd normally get if the present state of affairs remains the same. Just raising the cap on S.S. from to around 135,000 will extend the 100% payout about 30% further into the future. Before this year the cap was around $128,400 and this year it will go up to $132,900. Part of the problem was recognized.
It's hard for me to follow and retain all the figures but it's not rocket science. It's policy. As long as you have one side of the equation believing that S.S. should fail (since they believe government shouldn't be involved), then they will do and say everything they can to ensure it's failure.
Those on the other side of the equation, see a very simple way to keep it going, and under ideal conditions, double the payout and still be solvent forever.
If the cap is removed, entirely, then you could double the monthly payout, which would be nice for those who've been robbed and deprived of their pensions. Also, if you grant a path to citizenship for the undocumented who already work here (and pay 10-12 billion a year in taxes for services they will never receive), you'll have that base that will pay into the fund, paying it forward. It's how our S.S. has operated since it's inception.
Again, it can be done if you want it to work in your favor, or you can cut your nose off to spite your face, just to affirm some misplaced convictions.
All the best,
Nonoise