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Social Security is not a pension plan, it's pay-as-you-go and barring massive tax increases and/or benefit cuts, its collapse is more-or-less inevitable in the

Social Security is not a pension plan, it's pay-as-you-go and barring massive tax increases and/or benefit cuts, its collapse is more-or-less inevitable in the next couple decades because of locked-in demographic changes.

skhunted 2y ago
You are wrong. From ssa.gov: The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. Most people would refer to this as a “pension”. Call it whatever you want to. The fact is that its issues are easily fixable and your benefit is based on how much you put into it.
- tptacek 2y ago
  This is not a very useful semantic argument. Pension programs routinely pay out to workers more than what was paid in; that's practically the definition of a defined-benefit pension plan. Either way: it's money the government pays out.
- kelnos 2y ago
  It doesn't really matter what people would call it. What matters is what it actually is.
amanaplanacanal 2y ago
I've been hearing that since the eighties. Congress can change contribution rates and/or benefit rates at any time to keep it solvent, just like they have in the past.
- abenga 2y ago
  Beyond a certain point, the working population will not be able to afford to pay for the retired population. It's a mathematical inevitability unless birth rates increase or people stop living as long any more (both probably impossible). Maybe the benefits could be eliminated/reduced, but this is politically untenable because older people generally vote while younger people don't.
  - red-iron-pine 2y ago
    immigration solves the birth rate problem, and is one of the big reasons why illegal immigrants is a hilariously terrible wag-the-dog wedge issue. make them legal, tax them, and have them contribute to the system as well.
    - abenga 2y ago
      At some point even the countries people immigrate from will run out of people.

skhunted 2y ago

You are wrong. From ssa.gov: The Social Security Retirement benefit is a monthly check that replaces part of your income when you reduce your hours or stop working altogether. Most people would refer to this as a “pension”. Call it whatever you want to. The fact is that its issues are easily fixable and your benefit is based on how much you put into it.

tptacek 2y ago
This is not a very useful semantic argument. Pension programs routinely pay out to workers more than what was paid in; that's practically the definition of a defined-benefit pension plan. Either way: it's money the government pays out.
kelnos 2y ago
It doesn't really matter what people would call it. What matters is what it actually is.

amanaplanacanal 2y ago

I've been hearing that since the eighties. Congress can change contribution rates and/or benefit rates at any time to keep it solvent, just like they have in the past.

abenga 2y ago
Beyond a certain point, the working population will not be able to afford to pay for the retired population. It's a mathematical inevitability unless birth rates increase or people stop living as long any more (both probably impossible). Maybe the benefits could be eliminated/reduced, but this is politically untenable because older people generally vote while younger people don't.
- red-iron-pine 2y ago
  immigration solves the birth rate problem, and is one of the big reasons why illegal immigrants is a hilariously terrible wag-the-dog wedge issue. make them legal, tax them, and have them contribute to the system as well.
  - abenga 2y ago
    At some point even the countries people immigrate from will run out of people.