Biden tweet: Republicans want to cut Social Security. Who the hell do they think they are?

[FelineOverlord]

Reply by Peter Morley, one of my favorite people on Twitter.

Link to tweet

[InAbLuEsTaTe]

1. Nice to see Joe PO'd bout this! I wudve used a different word than "hell"...

but he is the Prez, so I get the decorum and all that.

[Disaffected]

3. Question:

Is SS self-funded or, does the govt top it up?

[mike_c]

5. SS is entirely self funded

The money comes from worker and employer contributions and by law is kept separate from the general fund, meaning that SS does not contribute to the budget deficit or any other government debt. The SS Trust invests "excess" funds (in excess of current outlays) in special issue treasury bonds, which earn interest, as do all treasury bonds. Those bonds are repaid at maturity. The US has never defaulted on its treasury obligations. Social security is a retirement savings account for worker's dollars.

[Disaffected]

8. OK thanks,, but how then

could it be legally "defunded"?? Or are the Repubs just blowing BS about it?

Also, what would happen if the fund were not able to meet its payout obligations (I'm assuming here the payouts are based on actuarial data sort of like life insurance). If that were to happen in future, would the govt be obligated to top it up?

[DeeDeeNY]

6. If you're an American citizen,

It gets deducted from your paycheck if you’re an American citizen and added to the Social Security Fund.

[haele]

9. Also if you have "employees" using someone else's SSN to get by I-9,

Which happens a lot in immigrant heavy businesses like agriculture and food production, small manufacturing and some types of personal or home care services.
Probably half of the undocumented (non-visa) work force who are not asylum seekers are using a stolen or spoofed SSN.
On edit -and their employees will pay.part of their wages into Social Security along with income tax, etc.

Haele

[drray23]

10. even if you are not an American citizen

green card holders and people on work visas also pay for social security. The only difference is that they can't collect later on unless they become naturalized US citizens.

[grumpyduck]

4. Of course they want to cut it.

A lot of them are multimillionaires and the rest aren't hurting. They don't need it, and Congress takes care of their medical and pensions. What they want is a rich-vs-poor scenario, kinda like in medieval times.

Fucking bastards.

[lame54]

7. Where is the ad where...

Grandma is moving in with her kids
Then they show the whole block where grandmas are moving into all thier kids houses

[Hermit-The-Prog]

11. All of this should appear in every living room.