The future Social Security problem we SHOULD be worrying about [View all]

[SoCalDem]

SS is based on your earnings over time..

As more and more people are working for less and less, their future benefits will also be a lot less than will be necessary for them to stay above the poverty line.

And since FICA is calculated as a percentage of income, as salaries have eroded and will continue to erode, Medicare solvency is never going to "get better".

People who have never had a job that pays more than $10-15 an hour will have to face old age with next to nothing.

The benefits currently being paid out were earned from wages paid during a time when many people worked union jobs and paid to people who may have also still had the benefit of a pension.

This is the real time bomb, and may be behind the rush to cut & slash now..