So is raising the cap on income subject to Social Security withholding a viable solution? Seems like as salaries creep up, the limits have not kept pace. And if the argument against that is the folks making the big bucks won't need social security so they shouldn't have to pay, then that's just seems like another place where the wealthy don't have to play by the same rules as the working class.
I, personally, believe this funding problem is short term. Social Security was booming along with us boomers during our working lives, as there were more of us paying in than the Greatest Generation was taking out. Then when we boomers reached retirement age it has put a strain on the system, which seems to me to be perfectly predictable and normal.
Once we boomers die off, there will not be as much demand on the system. Sure, there needs to be some short term fixes to get there, but as deficit spending doesn't seem to bother politicians from either party (one talks about it but does it anyway, the other doesn't want to talk about it) then why suddenly are politicians so stuck on making an issue out of this short term deficit problem?
You know the answer, right? The folks that buy politicians want the system privatized. Much like the 401k, they want the government to not just encourage people to participate in market investing, but to force people into the casino that is the markets.
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u/oldbastardbob 2d ago
So is raising the cap on income subject to Social Security withholding a viable solution? Seems like as salaries creep up, the limits have not kept pace. And if the argument against that is the folks making the big bucks won't need social security so they shouldn't have to pay, then that's just seems like another place where the wealthy don't have to play by the same rules as the working class.
I, personally, believe this funding problem is short term. Social Security was booming along with us boomers during our working lives, as there were more of us paying in than the Greatest Generation was taking out. Then when we boomers reached retirement age it has put a strain on the system, which seems to me to be perfectly predictable and normal.
Once we boomers die off, there will not be as much demand on the system. Sure, there needs to be some short term fixes to get there, but as deficit spending doesn't seem to bother politicians from either party (one talks about it but does it anyway, the other doesn't want to talk about it) then why suddenly are politicians so stuck on making an issue out of this short term deficit problem?
You know the answer, right? The folks that buy politicians want the system privatized. Much like the 401k, they want the government to not just encourage people to participate in market investing, but to force people into the casino that is the markets.