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Let's not forget that the Social Security is not getting funded so it's probably going to dry out sooner.
by 1-6 5y ago
Let's not forget that the Social Security is not getting funded so it's probably going to dry out sooner.
- anoraca 5y agoIt's constantly funded with taxes... why would you want a bunch of money sitting around losing value to inflation?
- toomuchtodo 5y agoLet’s not derail the thread. Social security is underfunded, but will continue to provide benefits at a reduced level (~76%) when the trust fund runs dry in 2034 (which is just accounting in the gov budget). A variety of small measures can be implemented to ensure ongoing solvency, and likely will take place, even if extreme measures like a contribution from the general fund is needed. The US does not default on its obligations, and as long as there is economic activity, there will be contributions to social security. https://en.wikipedia.org/wiki/Social_Security_Trust_Fund https://en.wikipedia.org/wiki/Social_Security_Trust_Fund
- JJMcJ 5y agoRemoving income cap on Social contributions would be enough, or 1% more on the tax rates with current income cap.
- tacocataco 5y agoJust take the income cap off contributions. What's it at, $110-$150k?
- JJMcJ 5y ago$142,000 currently.