The Politics of Social Security

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Kenr6583
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Re: US Social Security Report

Post by Kenr6583 » August 5, 2022, 10:20 pm

As far as people complaining about social security becoming insolvent, quit voting for the politicians who want to eliminate the payroll tax and the ones who want to eliminate social security all together.



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tamada
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Re: US Social Security Report

Post by tamada » August 5, 2022, 11:06 pm

^ Do you mean stop voting Republican? Or is it one of those contentious issues that either party tends to blow hot and cold on depending on concurrent horse trading and pork barreling?
You don't have to be afraid of everything you don't understand.

Kenr6583
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Re: US Social Security Report

Post by Kenr6583 » August 5, 2022, 11:43 pm

Everyone knows the party that wants to eliminate social security.

Mosquito
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Re: US Social Security Report

Post by Mosquito » August 6, 2022, 3:37 am

Republicans don't want to eliminate social security, they want big business to stop having to pay for it (payroll tax).

American workers pay their part in payroll tax (6.2 and 7.65%, if you include medicare), which is matched by employers.

Republicans want social security to be part of the annual budget, thus they can hold Americans on social security hostage annually and save big business billions of dollars in annual payroll tax.

Personally, didn't mind or even noticed the 6.2-7.65% being taken out of my paycheck. Now, it nice having a semi-secure income coming in monthly.....even with the threat of payments being reduced in 10-15 years.

Don't like the idea of having to worry about it every year, not to mention what it'll do to the Nations debt / deficit.

Side Note: CPI for July 2022 being 10%, if Aug and Sep 2022 CPI remains in double digits Americans on SS could be receiving a 10% COLA increase in SS payments next year.

So, Basically...."Fxxk the Republican Party."

Mosquito
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Re: US Social Security Report

Post by Mosquito » August 6, 2022, 6:17 am

Oh, pretty simple to keep SS solvent for another 82 years.

Increase the maximum earnings subject to the Social Security payroll tax, which currently stands at 147k.

Amount does increase year on year, but doing a one-time bump to 200-250k in 2023/24 along with maintaining a 3-5% annual increase would / should do the trick.

https://www.youtube.com/watch?v=S1xS2mq1B5o

For Future Americans (see it's not just about me, doubt I'll live past 2035).

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