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CousinIT

(9,245 posts)
7. Social Security is NOT "running out of money" nor will it be "depleted" by 2035.
Sun Sep 29, 2019, 08:41 PM
Sep 2019

God DAMN these idiots. They need to STOP telling people "social security is going broke!"

IT. IS. NOT. Nor will it ever be "depleted"

As long as there are workers in America, Social Security will have income and won't "run out of money". Even if Congress were to take no action, Social Security could pay 100% of promised benefits for the next 17 years, and more than three-quarters of benefits after that. Around 2034 there will be a modest funding gap requiring modest increases in revenues to guarantee everyone 100% of promised benefits.


https://socialsecurityworks.org/faq/

EDIT TO ADD from the same link/URL:

We can close the vast majority of Social Security’s funding gap by scrapping the payroll tax cap. Currently, millionaires and billionaires make payroll tax contributions on only the first $127,200 they make in annual wages.


It is NOT going to "run out of money" or be "depleted" unless TRUMP or some goddamned REPUBLICAN does something to it such that it becomes that way. Otherwise, as long as workers are paying into it, it will BE. THERE.

HOWEVER. The goddamned cap needs to be removed and the tax rate raised by a measely amount to cover that gap. Problem solved. That is FAR, FAR from it "running out of money", becoming "depleted", or "going broke".

These IDIOTS who write this bullshit need to do some research --- but they're too busy trying to convince Americans that "social security is going broke!" - that's RIGHTWING BULLSHIT.

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