2 ms·
As a Millenial who tries to not hot-take, I do expect to receive Social Security benefits. I'm not planning on it being a requirement to survive, but I am expec
by eropple 8y ago
As a Millenial who tries to not hot-take, I do expect to receive Social Security benefits. I'm not planning on it being a requirement to survive, but I am expecting it to be there in a nontrivial form. As is widely noted the trust funds will, at current projected rates of usage, be tapped in 2034, but projected income (hence the "further looting" part) covers around 75% of all benefits at that point.
Baby Boomers will be dying off at that point, which should reduce the stress on the system, and there are a number of fairly politically safe ways to improve the financial position of Social Security like removing the caps on income. Don't get me wrong, Social Security is not a great system in a lot of ways, but it's not gonna just disappear and there is a recovery point in there if we should choose to take it.
- hkmurakami 8y agoI don’t know if caps are politically safe. After all even Obama wasn’t able to remove 529 college savings plans which purportedly benefit the upper middle class who don’t need that much help. Caps going up to say 500,000 sounds like it would meet a lot of resistance to me.
- dopamean 8y agoIt's not a hot take to think that an unsustainable service that many members of government have campaigned on reducing or eliminating entirely wont exist in 30+ years.
- Avshalom 8y agoWhile the exact current level of service might be unsustainable, some level of is completely sustainable as long as either: the working population grows OR the wages (under the cap) grow OR the cap grows OR the tax rate grows OR the things the fund is invested in grows.