2 ms·
Social Security is a pay-as-you-go system. Meaning it can and will pay out some level of benefits as long as there is the political will to do so. SS catastroph
by jewayne 3y ago
Social Security is a pay-as-you-go system. Meaning it can and will pay out some level of benefits as long as there is the political will to do so. SS catastrophism is all about undermining that political will, and bringing about a self-fulfilling prophecy of collapse, to the benefit of the very wealthiest in this country.
Don't buy it. Don't spread it.
- lotsofpulp 3y ago> Meaning it can and will pay out some level of benefits as long as there is the political will to do so This is trivial. But “some level of benefits” could theoretically mean using all of the nations’s productivity to support the elderly. The pertinent question is what level of wealth transfer will the working populations tolerate, especially if the current workers believe they will be getting less when it is their turn to receive.
- ghaff 3y agoIt's probably a reasonable working assumption that eligibility ages may get pushed up, benefits might be trimmed, but the system will still be there--especially given that private sector defined benefit pensions mostly just exist for people who had them decades ago.