General Discussion
In reply to the discussion: "I live on $710.00 a month, what exactly am I supposed to cut?" [View all]BlueCaliDem
(15,438 posts)No doubt about it.
But you're right, there's no courage in Congress for that simple act. I mean, jeezus, just raise the cap to 150k. What's the harm in that? How will that hurt?? It won't. Upper-income and wealthier people have had it pretty damn good for the past twenty years so can't they be patriotic Americans and give up a little for their fellow American who wasn't as lucky?
Fact of the matter is, if nothing is done now, we're looking at a projected 25% cut to earned benefits come 2033, and I doubt it will remain 25% or that the starting year would remain the same. In 2005, I believe, the Board of Trustees at the SSA warned that if we did nothing, there would be a 22% cut to earned SS benefits in 2041. Now it's 25% starting 2033. A 25% cut to basic benefits as opposed to a 0.3% cut in rate of growth should be a no brainer for us. Fact of the matter is, something needs to be done of it's curtains for Social Security. That's just the painful truth.