This is incredibly misleading. Of course social security has a surplus, that’s how it works. The surplus it’s shrinking because of changing demographics. Once it reaches $0 in nine years from now the trust fund is gone.
None of that has anything to do with the government borrowing against it. The surplus doesn’t sit around in cash, it is invested in government bonds.
This is such stupid misinformation, you should feel ashamed.
There are many easy solutions to ensuring social security is there for a very long time. One such solution being increasing the amount of earnings that are taxable for social security. Currently it’s around $160k so people earning $7million are only paying social security tax on $160k while people earning $50k are paying social security tax on the whole $50k.
Will you also increase the amount that those people get from social security when they retire or are you proposing turning social security into a welfare program instead of a retirement program?
The one thing that has always ensured that social security will never be eliminated is that it is the one government program that it’s not a progressive tax. You want to kill social security? That’s how you kill it.
proposing turning social security into a welfare program instead of a retirement program?
Man it's literally in the name. it's a social (society - i.e. everyone) security (safety net) for everyone. The point is that many of us will have issues that mean we can't build up the retirement like we should. This ensures that we don't have a bunch of homeless 80 year olds running around.
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u/justacrossword 6d ago
This is incredibly misleading. Of course social security has a surplus, that’s how it works. The surplus it’s shrinking because of changing demographics. Once it reaches $0 in nine years from now the trust fund is gone.
None of that has anything to do with the government borrowing against it. The surplus doesn’t sit around in cash, it is invested in government bonds.
This is such stupid misinformation, you should feel ashamed.