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Once the trust fund is exhausted, unless the law is changed, SS payouts are made equal to SS payroll taxes. This is projected to settle out to payments being ~7
by dmm 9y ago
Once the trust fund is exhausted, unless the law is changed, SS payouts are made equal to SS payroll taxes. This is projected to settle out to payments being ~70% of what has been promised.
- candiodari 9y agoOk so the next question is whether that should be considered failure or not. Also they'll go below that (because some of their "investments" are government bonds which they won't be allowed to unload, as it would affect the government too much). For current or future recipients of said benefits, the answer is pretty clear : yes. And, frankly, the government has promised these people compensation in terms of years or work, and amounts of income after those years of work. It should be illegal to make these claims. (and for the private sector, it mostly is, so frankly these laws are letting government lie on compensation letter, which is low, dishonest)
- taylodl 9y agoIt wasn't just a promise: they took 15% of my salary for it against my will. If I don't get it back, then it's a tax, and not only that, but it makes the tax on the middle class significantly higher than on the uber rich. The Boston Tea Party ain't nothing compared to what's going to happen in this country if they mess with Social Security.