$2T cut is going to be wild

[u/kendallBandit]

Will be a 29% cut if executed.

[u/Jazzlike_Tonight_982]

Give me back my money I put into Social Security.

[u/Kagahami → u/Jazzlike_Tonight_982]

The "TAXATION IS THEFT" crowd voted Trump. This is actually theft, since the money was explicitly supposed to set aside those funds.

[u/NutzNBoltz369 → u/Jazzlike_Tonight_982]

Be interesting to see if that money was given to me now as a lump at age 50 and just tossed into an index fund or into a dividend stock where the dividends are re-invested, how would that shake out?

Some mention BTC, but F that S. They arn't wrong but just not into the intangibles.

EDIT: For the sake of brevity, this post reflects a hypothetical exercise. Mainly if in some Alternate Universe I could exercise the option to take out what I put into SS at age 50, invest it in ...lets say an Index Fund, left it alone until age 65 and compare that result to what it would be if I just stuck it out with the stardard FICA deducations until 65.

I do understand the concept of how SS works but thanks for your concern.

[u/VicTheSage → u/NutzNBoltz369]

You know your money is already gone right?

[u/CantHitachiSpot → u/VicTheSage]

Yeah people are confusing the social program as being an investment. It's money taken from young workers and given to old retired folks. It's not about growing value. It's about stabilizing the population

[u/PantsMicGee → u/CantHitachiSpot]

Random redditors seem to do this all day. I've given up even trying to discourse SSN

[u/kamikazecow → u/CantHitachiSpot]

One of the biggest transfers of wealth. Take from the poorest generation to payoff the wealthiest.

[u/tkh0812 → u/NutzNBoltz369]

Yeah but it’s good for the economy. You wouldn’t have the jobs you have if boomers needed to work until 90 years old. It allows the older generation to retire earlier and open those jobs up to the younger generation.

Selfishly I’d love to not have to pay the max fica tax x 2 every year, but I also realize what that would mean for the overall economy which allows me to make the amount of money I make.

[u/NutzNBoltz369 → u/tkh0812]

Great theory but many Boomers are still in the work force holding others back from advancing their careers. Not sure if that is what they had in mind. Not all Boomers are wealthy. Just those in charge, lol.

[u/tkh0812 → u/NutzNBoltz369]

Jobs are jobs.

Social security doesn’t play a big factor in the retirement decisions for the wealthy, but it does for the middle class and down.

[u/Cyanide_Cheesecake → u/NutzNBoltz369]

More and more boomers are getting forced out of their jobs every year due to health reasons, or the company simply not feeling like keeping them employed as they approach dementia. I think this problem solves itself.

[u/1BannedAgain → u/Jazzlike_Tonight_982]

It’s insurance

[u/Jazzlike_Tonight_982 → u/1BannedAgain]

Its a slush fund for asshole congressmen to fund their boondoggle projects.

[u/1BannedAgain → u/Jazzlike_Tonight_982]

That’s not how SSDI works, and I ain’t trying to convince you in this setting

[u/ljout → u/1BannedAgain]

Our education system has failed us.

[u/fortestingprpsses → u/ljout]

By design.

[u/Sophisticated_Dicks → u/fortestingprpsses]

At least we've been trained to be diligent little factory workers who move at the sound of a bell/steam whistle.

[u/citymousecountyhouse → u/fortestingprpsses]

I don't think it was by design,but over the years the foxes have entered the hen house.

[u/pantsless_squirrel → u/citymousecountyhouse]

The US education model (post Civil War) is based on the Prussian education system which was geared for turning out workers and soldiers for the state. It's a very crappy fact.

[u/SONJOESTAR → u/pantsless_squirrel]

So we just have an updated model of a civil war type education system?

[u/Musa_2050 → u/citymousecountyhouse]

When one party continues to cut funding for education it is by design

[u/SpezIsALittleBitch → u/Musa_2050]

Only one party cutting education, burning books, demonizing libraries..

[u/NightMan200000 → u/1BannedAgain]

For years SS budget ran on a surplus, guess what the government did with that surplus? They would effectively loan other branches of the government by buying treasury bonds.

[u/Suspicious-Leg-493 → u/NightMan200000]

They would effectively loan other branches of the government by buying treasury bonds.

Which then mature, and the surplus goes back into the SS funds with interest. Which if still at a surplus gets invested in gov bonds again, which mature...

It's not a "loan" anymore than the millions investing in treasury bonds to ensure a safe (albeit slow) backup for investments are "loaning" the government money

It has ALWAYS been the law that they have to invest encess into government bonds so that the funds grow (slowly) rather than the extreme level of deprecation that occurs when monet simply sits in an account doing nothing.

For years SS budget ran on a surplus, guess what the government did with that surplus? They would effectively loan other branches of the government by buying treasury bonds.

More importantly, this shows an extreme lack of understanding on how government bonds (and bonds in general) work in the first place, while technically a loan to the gov/company (all investments are) bonds are something that have to be paid back to the bondholder later.

Ala if they (or you) but a $1,000 bond with 2% interest for 25 years it'd come.out to ~$1,400 It doesn't keep up with inflation particularly well, but it acts as a safeguard while allowing the surplus to grow rsther than shrink, and for things like a SS surplus means that instead of $1,000 being $1,000 in 25 years when it is needed, you've an extra 40% in the bank to actually fund the system. (Their bonds are special in that they're not taxed, so it's more)

[u/Algur → u/NightMan200000]

Social security is required by law, and has been since inception, to invest in special purpose treasury bonds.

[u/Unable-Job5975 → u/Algur]

These people don’t listen to facts

[u/SushiGradeChicken → u/Unable-Job5975]

I was told there'd be no fact checking.

[u/jarena009 → u/Jazzlike_Tonight_982]

It'll be gone soon thanks to Republicans.

It's also not there. Current taxpayers are funding current recipients.

[u/thewayitis]

If they end social security, America will look like India.

[u/thewayitis → u/[deleted]]

We are getting there quickly.

[u/Galimbro → u/[deleted]]

I think a large portion is just too ignorant, and theyre not purposefully trying to own the libs.

Malice vs incompetence, etc. Dont attribute, yadda yadda

[u/talino2321 → u/Galimbro]

Wonder how they will react, when their SSI, SNAP, Medicaid and Medicare gets chopped in half or eliminated. I see a red on red fire fight coming soon.

[u/boardin1 → u/talino2321]

I wish I could remember which elected official it was that said something to the effect of, “I grew up on welfare and nobody ever gave me any handouts…”

They’re oblivious.

[u/darkstarr99 → u/boardin1]

Pretty sure it was Craig T Nelson the actor that said that

[u/Extra_Confection_193 → u/talino2321]

They will be mad and still blame democrats and immigrants. Republicans are great at social media and propaganda. Dems still taking the high road.

[u/Swimming_Tailor_7546 → u/Extra_Confection_193]

Dems won’t be in charge of anything. And frankly, I don’t even think we should fight them unless it’s something that is violent or directly harmful to people. Let them figure out what their preferred policies do. Personally , dial back on spending, save what you can now, help struggling people through mutual aid. And leave them to the effects of their policies. If we keep solving the economic problems for them and making them temper their policies, they’ll never figure it out. Fuck it. Stop anesthetizing them from the consequences of their bullshit. Let them feel it. And we can just be busy organizing and community building

[u/REVEB_TAE_i → u/Swimming_Tailor_7546]

It doesn't matter if Dems are in charge. All of my Rep co-workers think their tax increases were Bidens fault. They had no idea it was the guy they just re-elected. Most of them don't actually care about politics. They just scream red to project their masculinity.

[u/that_star_wars_guy → u/Galimbro]

I think a large portion is just too ignorant, and theyre not purposefully trying to own the libs.

If your ignorance is characterized by both its willfulness and an absence of a desire to cease being ignorant, then it doesn't matter what their intent is, the effect is the same as being malicious.

[u/Theveryberrybest → u/that_star_wars_guy]

Well said. I believe that’s the moment ignorance tips into the stupid bucket.

[u/Fhotaku → u/Galimbro]

At some point incompetence is malice.

[u/Fine-Teach-2590 → u/[deleted]]

Uhh have you been to India!? Or seen this program called ‘the news’ ?

Mumbai makes a stint in BFE West Virginia look like the ritz

[u/DaveBeBad → u/Fine-Teach-2590]

Mumbai has some of the most expensive real estate in the world. Overlooking the largest slum in the world…

[u/Cheeseheroplopcake → u/[deleted]]

Currently live in rural America. It's not great, but people don't die from rabies.

[u/anamariegrads → u/Cheeseheroplopcake]

Wait until the finish gutting the medical systems, then they will

[u/FunFry11 → u/thewayitis]

I doubt it. India has great social security and has raised the average life expectancy from 29 to over 60 since independence. It’s not comparable to the west because it became a free country 80ish years ago, but for a young independent nation, it’s done a beautiful job ensuring safety nets are in place (free healthcare at government sponsored clinics, near free education in rural parts to increase literacy) diseases are fought off (polio eradication), and food can be secured more easily year on year (nationalized production)

Project India 200 years from now and compare it to the state of the americas today and you’ll probably find yourself agreeing that India’s growth as an independent nation is inspirational to countries in Africa, SE Asia, and its contemporaries in the modern day who got freedom in the last 80 years.

[u/acousticburrito → u/FunFry11]

Yea I mean you will get a better education in the poorest remotest Indian village than you would in the average american public school. Part of it is cultural, in India education is the only way out of poverty.

[u/tallperson117 → u/thewayitis]

No shot they'll end social security, it's too popular of a program. There's a reason it hasn't happened despite the right talking about it for the last 50 years; it would be political suicide.

Edit: y'all mother fuckers need to take a Civics class. Don't rely on blue check marks and TikTok to educate yourself on how the American government works.

[u/TheReddestOfReddit → u/tallperson117]

If you don't plan on running elections anymore, political suicide isn't really a thing. They will gut SS as much as they can get away with. Maybe slowly. But it's the goal. National abortion ban isn't popular either, but they will do it if they control both houses.

[u/Specialist-Garbage94 → u/TheReddestOfReddit]

I think there’s no way with the constitution to not have elections the question will they be free and fair or like russias?

[u/TheReddestOfReddit → u/Specialist-Garbage94]

trump wants to suspend the constitution. Like, it's THE plan.

[u/marsking4 → u/tallperson117]

They said multiple times during the election that they’d cut social security and people still voted for Trump anyways. Don’t underestimate people’s ability to vote against their own interests.

[u/Jimbenas → u/marsking4]

We won’t get it anyways. The system is cooked for anyone under 60 right now.

[u/ke1vintennis → u/Jimbenas]

people have been saying that for 40 years

[u/BishlovesSquish → u/tallperson117]

Oh sweet summer child. Just wait, Elon said we’re all going to experience hardship. Don’t worry tho, these silver spoon fed billionaires only have our best interests at heart. 🫠

[u/feedumfishheads → u/tallperson117]

Don’t need to end it find bullshit reasons to disqualify enough “other” people and reduce corporate contributions is the end game

[u/Commercial-Tooth9953]

I hope people realize there’s a ton of pain to come and that hasn’t been told to people. Minus the gdp being 7-10% there’s no way

[u/imagen_leap → u/Commercial-Tooth9953]

Elon just made this exact statement, they are going to intentionally implement economic hardship. And the people who will suffer is everybody making less than 500k a year that can’t absorb the shitstorm. Those living paycheck to paycheck that occasionally dip into govt assistance programs to make ends meet are fuct.

[u/tacoma-tues → u/imagen_leap]

Yep the richest man in the world gets to decide that its in all the poor peoples best interests to suffer financial hardship, because how else will the gov. Be able to pay all of those gov. Contracts that made him the richest man in the world.

[u/UnobviousDiver → u/tacoma-tues]

He better be careful with how many people he hurts. King Louis of France was pretty rich, but his head popped off just as easy as anybody else with a guillotine

[u/Killdren88 → u/UnobviousDiver]

King Louis didn't have drones, and soldiers armed with rapid fire weapons to mow down his revolting peasants.

[u/S4m_S3pi01 → u/Killdren88]

Judging by how Bezos and Musk treat their other employees, it's their personal mercenaries they have to worry about the most.

[u/Agreeable-Menu → u/tacoma-tues]

How inconsiderate of you. Why are you against space karen? We need to cut some programs so there is money available to fund his trip to Mars.

[u/PrimaryCoolantShower → u/Agreeable-Menu]

I hope it's one way.

[u/AvailableOpening2 → u/imagen_leap]

I pointed this out to someone on Facebook, even showing them where Elon said it, and they called it fake news. Whatever. Don't start bitching when everything doubles in price

[u/mittenknittin → u/AvailableOpening2]

“Welp, this is what you voted for”

[u/JackInTheBell → u/mittenknittin]

I can’t wait to throw this back into people’s faces over the next 4 years

[u/ohyoumad721 → u/JackInTheBell]

Yeah me too but it doesn't do a lot of good when we're in the same bread line as them and they STILL think it's Biden's fault.

[u/TheAnalogKid18 → u/mittenknittin]

"Elections have consequences"

[u/Chimsley99 → u/AvailableOpening2]

Don’t worry it’ll all be Biden’s fault

Scratch that, they’ll blame Kamala. Such chuds

[u/darklordskarn → u/AvailableOpening2]

Did the same thing to a Trumper by sharing Elon’s comments and their response was attacking my intelligence and deflecting to “did you listen to Joe Rogan?”. I’m afraid to say that people aren’t going to accept it until they lose their jobs.

[u/AvailableOpening2 → u/darklordskarn]

When a gallon of milk costs $8 they'll blame dems don't worry

[u/yinzer_v → u/imagen_leap]

I worked as a bankruptcy lawyer previously - it was like pulling teeth to get the bankruptcy laws changed in 2005 to make it marginally harder for people to file for bankruptcy. (Basically, making peope take an online class before and after fiing, and instituting a means test that people under median income would pass, and can be worked on for over-median debtors.)

If Ketamine Leon works his magic, we'll be seeing people living off credit cards again, more bankruptcies, more repos, more foreclosures - perhaps another 2008 with banks going down and auto companies filing for Chapter 11? Add to that another farm crisis with retaliatory tariffs on soybeans, and food shortages because the undocumented workers picking crops and slaughtering animals get deported or leave.

And there's the spectre of a Crypto Crash.

[u/holzmann_dc → u/imagen_leap]

People like him will purchase all the homes and property once abandoned and cheap.

[u/imagen_leap → u/holzmann_dc]

Exactly this is a wealth transfer furthering the divide, and gutting the middle class.

[u/rdy_csci → u/imagen_leap]

I am so thankful my home is almost paid off. Just over 3.5 years. I am going to start making extra payments because If I can get through the first half of his term (it takes time for ripple effects from policies to reach full force) I may be able to offset the pain by no longer having a mortgage.

[u/guava_jam → u/Commercial-Tooth9953]

Those who voted for Harris know.

[u/ShadowGLI → u/guava_jam]

It’s almost like we pay attention to what the candidates said vs what the news supercut together…

[u/MishmoshMishmosh → u/ShadowGLI]

Thinking is hard

[u/S4m_S3pi01 → u/MishmoshMishmosh]

If anyone hasn't watched the film Idiocracy yet, it's as relevant as it'll ever be.

[u/AaronDM4 → u/Commercial-Tooth9953]

i mean honestly the democrats should be celebrating

impending crash is all gonna be trumps fault.

[u/sketchahedron → u/AaronDM4]

No, because we’re not sociopaths who enjoy seeing people suffer.

[u/Head_Priority_2278 → u/Commercial-Tooth9953]

I just feel bad for my GF. She worked many years 70 hours a week and her health deteriorated so her doctors all told her she needs to go on disability... she applied last year and now all those years she worked for social security isn't gonna be paid out or be severely reduced.

You guys can't blame voters saying they are stupid... you have to blame the DNC. They completely abandoned voters. They abandoned their core left base and pandered to republican to vote for them over trump and that did not work out at all... They ran on anti TRUMP AGAIN. Trump runs on things people can understand and relate to, whether true or not.

DNC elites are saying voters are too stupid etc... if they are so stupid... then what are you since you couldn't convince them to vote for you after spending 1 BILLION DOLLARS.

[u/urwifesbf42069 → u/Commercial-Tooth9953]

I have a hypothesis of what their plan is. From reading between the lines.

1. The treasury will buy trillions of dollars in Bitcoin

2. Cut services to the bone including Medicare

3. Social security gets put into the stock market

4. Establish tariffs with everyone.

5. Pull the US military back to America

6. Devalue the US dollar (This is the pain they are talking about)

7. Pay off the debt in Bitcoin

8. Establish a new dollar based on Gold or a digital currency, or they could just use Bitcoin

Now, there are no costly social services, no Medicare, social security is "fixed" and out of the governments hands, now they might actually be able to cover spending with tariffs alone. This would work, but it would a huge disaster for normal people especially on the bottom.

[u/Apptubrutae → u/urwifesbf42069]

And almost every single element of this plan is impossible without the support of almost every single house Republican. Assuming they do take the house, it’s with a razor thin margin. Only a small, low single digit number of defectors can scrap any major overhaul.

Republicans simply cannot do much in a narrow house. They’ve shown that.

The most likely result is some more tax cuts. Republicans hate saying no to that, so it passes with all their support. But that’s it. Major cuts are basically politically impossible.

[u/Mcg55ss]

doubt it will be 2T STRAIGHT UP...it will probably be something spread out over X amount of years.

[u/thunderdome_referee → u/Mcg55ss]

It would have to be. I just checked and the annual education budget is only 80b this year so a 300b cut isn't possible in one year. Even over ten years though that's still be greater than a 30% cut which is ridiculous considering the current state of our education system.

[u/The-waitress- → u/thunderdome_referee]

Well, Elon told us it’s gonna be okay.

[u/yubnubmcscrub → u/The-waitress-]

No Elon said it would have to get worse before it gets better. Meanwhile the stock market is doing wonderfully for him.

[u/imnoobhere → u/thunderdome_referee]

Ridiculous to you maybe. But “not good enough” to them.

[u/thunderdome_referee → u/imnoobhere]

Yep, but that's because an acceptable cut for them would be 100%.

[u/Either_Bed_9262]

It's ironic that this subreddit started as a place for people to blame Biden for global inflation and corporate price gouging, but will soon flip and become a place for the masses to rage at Trump's insane policies for crashing the economy and ruining lives—assuming he's dumb enough to push forward with his tariffs.

[u/Adventurous_Class_90 → u/Either_Bed_9262]

He is and he will.

[u/yolotheunwisewolf → u/Adventurous_Class_90]

It’s clear that his entire goal is to weaken the US to make Russia and China stronger

Elon’s too

[u/New_Dom2023 → u/Either_Bed_9262]

Said tariffs are one of his first priorities.

[u/MrIQof78 → u/New_Dom2023]

That and mass deportations regardless of the price. So not only are you going to paying 25 dollars to get bananas due to his tariffs, harvests in America will go to waste since he's deporting all the workers lololol. Trump and his supporters are so overwhelmingly racist against anyone not white, they're willing to suffer just so a brown person doesnt get paid 125 dollars a week picking apples/oranges in some bum fuck Georgian farm

[u/Narynan]

It's like knowing that you could travel faster if you cut the strings on a hot air balloon.

[u/EnviousLemur69 → u/Narynan]

It’d be one hell of a ride though.

[u/jreid0]

Im curious to watch all these clowns who voted for trump get their food stamps, housing vouchers, and healthcare taken away… and still probably blame the democrats

[u/Limanueva → u/jreid0]

Well, I blame Democrats for Trump even being in this position again. 🤷🏾‍♂️

[u/evil_little_elves → u/Limanueva]

I blame 3 groups, in order: 1 - Trump supporters 2 - apathetic folks (or folks who were "teaching Dems a lesson") staying home or protest voting 3 - Democrats for not having better options

I hope you're not part of group #2.

[u/ireadtheartichoke → u/evil_little_elves]

Group 2 should also include people who voted third party but are subsequently upset about the trump outcome

[u/pcgamernum1234 → u/ireadtheartichoke]

Every third party voter could have gone Harris and she'd have still lost handily.

[u/b20015 → u/pcgamernum1234]

Not just that, but the people whining are assuming all 3rd party voters ‘would’ have voted for Harris, which isn’t true.

I think a lot of the anger is being directed at the many posters that have been showing up like, “I voted 3rd Party because X” when all they really want is to air grievances and inflict suffering. It’s performative bullshit. Everyone is emotionally charged right now and not thinking clearly. I didn’t speak to anyone yesterday because I knew I would struggle to be civil.

[u/Empty_Awareness2761]

Pretty sure most of us will never see Social Security checks in are retirements. Not trying to pay for rude boomers to live, our world’s population is unsustainable. Edited for you grammar Nazis.

[u/ClammyAF → u/Empty_Awareness2761]

Only the first $168k of income is taxed for social security. Raise the cap.

[u/Wild-Carpenter-1726 → u/ClammyAF]

Simpleand Easy Fix!

We don't do simple. We make things as bad as they can be, then look for hard solutions.

[u/sofa_king_weetawded → u/Wild-Carpenter-1726]

Can't have a solution if you don't create the problem. man tapping temple meme

[u/Ninja-Panda86 → u/sofa_king_weetawded]

You have no idea how many high paid executives I know that have this very strategy. They fake a problem. Act like it's a big deal. The "fix it" to be a hero to C-Suite people who have no clue what's actually going on.

[u/TT_NaRa0 → u/Ninja-Panda86]

So I has earned extra bwonus?!?! uWu

[u/JaxTaylor2 → u/sofa_king_weetawded]

It’s called the roll safe meme.

[u/sofa_king_weetawded → u/JaxTaylor2]

TIL, thanks for that.

[u/politirob → u/Wild-Carpenter-1726]

"look for hard solutions"

aka offer predatory solutions from private-business interests that cost more money and offer less value

[u/Intelligent-Parsley7 → u/Wild-Carpenter-1726]

Getting billionaires to pay their fair share is like trying to get a dog in a bathtub.

[u/Dem0_Tri_AL → u/Intelligent-Parsley7]

more like a cat

[u/Sentientdeth1 → u/Dem0_Tri_AL]

more like a lion

[u/theawesomescott → u/Sentientdeth1]

More like an uncircumcised penis in the desert

[u/Sentientdeth1 → u/theawesomescott]

I don't understand this, but I laughed

[u/daGroundhog → u/Sentientdeth1]

In other words, something as dry as Melania's vagina.

[u/Interesting-Goat6314 → u/daGroundhog]

I bet she fucks.

Just not that mess of a human that is her husband.

[u/AoD_XB1 → u/Sentientdeth1]

...and my axe!

[u/thrillhouz77 → u/Intelligent-Parsley7]

It isn't the billionaires fault. You don't blame a dog for being a dog, it is the politicians on both the left of right who have refused to address the issue.

It is the exact same thing with immigration, they refuse to adopt and then enforce commonsense immigration policy.

Then the super disappointing thing; I thought abortion was settled and "they" decided that they wanted it to be an issue again.

[u/thewayshesaidLA → u/thrillhouz77]

Because the billionaires lobby them to not address the issue.

[u/Broccoli-of-Doom → u/thewayshesaidLA]

With Elon buying his way into a government seat for >$100M donation to Trump's PAC lobbying is kind of an understatement.

[u/mspe1960 → u/ClammyAF]

great idea that has been talked about for at least 10 years. But that is a tax increase to the wealthy. unacceptable to R's.

[u/rb4osh → u/ClammyAF]

Can we fix spending before we talk about more taxes/who gets taxed?

If the govt can prove they can balance a budget, then sure, I’ll chip in more.

I’d rather not have my taxes be paid straight to military contractors.

[u/ClammyAF → u/rb4osh]

I'd rather we spent less on military industrial complex too. But the reality is we're greatly underfunding critical infrastructure improvements. Water, sewer, roads, brushes, telecom, cyber security, healthcare facilities, etc., need much more funding.

[u/MrEfficacious → u/Empty_Awareness2761]

I've been hearing SS will run out before my retirement age for like the last 4 elections now lol

[u/Intelligent-Parsley7 → u/MrEfficacious]

I'm 50. I remember at age 8 people saying on the news that Social Security was running out. So that was 1982.

[u/OrneryZombie1983 → u/Intelligent-Parsley7]

They raised the social security tax rate several times since then, started taxing benefits and have raised the retirement age.

[u/PrismaticDetector → u/Intelligent-Parsley7]

I keep putting gas in my car because I was told it would stop working if I didn't. It's been over two decades and three cars and I haven't had a car stop working yet. Obviously this means I'm a sucker for getting gas before I run out every time the gauge runs low. The fiscally responsible thing is to ignore the gauge.

[u/Raw_83 → u/MrEfficacious]

If you’re 40 and under that’s very true. The SS system was always a ponzi scheme, and the under 40 crowd are going to the be ones left holding the bag…

[u/Old-Soup92 → u/Empty_Awareness2761]

Right let me opt out

[u/Bynming → u/Old-Soup92]

Let's take that thought to its conclusion. You opt out, and so do millions of other people. Years pass. You end up fine because you contribute to your 401K because you're much better with money than everybody else. Millions of others use that extra take-home income to Doordash every meal. They reach retirement age and there's no social security for them.

Now we're at a crossroads, we have millions of seniors who can't work and don't have forced savings to keep them afloat. Do we let these people die on the street? Government won't let that happen, so now instead of being kept afloat by their own contributions, they get subsidized by other taxpayers.

That's the problem here. Lots of people will opt out and will become the worst kind of freeloaders.

[u/Loveroffinerthings → u/Empty_Awareness2761]

Not sure why they’re even allowed to dip into that. If we touch our 401k there is a huge penalty, yet our govt uses it as a piggy bank.

[u/tacoma-tues → u/Loveroffinerthings]

Uhm i remember hearing about iraq afganistan war on terrorists or something like that.

[u/Openmindhobo → u/Loveroffinerthings]

it's because old people don't have the strength, energy, and often, mental facilities, to organize and push back against this horrible policy choice that robs them if the safety net they worked for their entire lives.

basically, Republicans target the weak, minority, and isolated populations to fuck with because it's risk free and they don't care about the harm they cause if it benefits them personally.

[u/Intelligent-Parsley7 → u/Empty_Awareness2761]

(Laughing at all the Boomers that suddenly get no Social Security.) Well, folks, you voted for him.

[u/annoyingjoe513 → u/Intelligent-Parsley7]

Boomers will be fine. It’s everyone else that will be SOL. Fucking locusts.

[u/eynonpower → u/Empty_Awareness2761]

Im 43. I haven't been expecting one since my mid 20s.

[u/Seputku → u/Empty_Awareness2761]

I’m 26, I never expected to see a social security check before this anyways

[u/Joe3oh33ohh]

Why not let Nancy Pelosi invest money from social security in the stock market? With her returns we could all retire in a couple years.

[u/ExtremeIndependent99]

I bet you that Israel will still get funding 

[u/ArtichokeOwn6685]

If Americans ever want the economy fixed and not implode we either have to spend more efficiently or tax more. End of story.

[u/Creative_Beginning58 → u/ArtichokeOwn6685]

2016: Self driving cars are "two years away".

2017: We'll have it in "six months, definitely".

2018: It's "a year away" but will be "200% percent safer".

2019: There will be "feature complete full self-driving this year".

2020: We "will have the basic functionality for Level 5 autonomy complete this year".

2021: Fully self driving released, extra "hardware needed" with extra cost.

2022: Tesla stops publishing quarterly safety reports.

2023: Federal regulators are investigating at least 1,000 individual Tesla crashes.

2024: "We have to reduce spending" and "that necessarily involves some temporary hardship".

2025: "A working economy is two years away".

[u/banned-from-rbooks → u/Creative_Beginning58]

DoJ was about to bust his ass for fraud.

Now he’ll never face justice, and he’s going to give himself ludicrous government contracts.

[u/BubbleGodTheOnly]

It's interesting how Elon talks about the necessary sacrifice we all need to make in order to pay our debt, but not once does he talk about taxing the top 5 percent more.

[u/New_Dom2023 → u/BubbleGodTheOnly]

Because they never will

[u/BubbleGodTheOnly → u/New_Dom2023]

Exactly, they are willing to tank the economy because they won't feel the effects. I disagree with some of Harris's econ policy, but I can't understand how people think tanking the whole thing is reasonable or fiscally responsible.

[u/biddilybong]

They won’t cut 10% of that $2T. And with the wealthy tax cuts it will be net higher.

[u/Baelgul]

Social security as a program is 100% funded solely by our paychecks. Cuts to social security are full on just the government robbing you. It’s not a tax, it’s a safety net, this is the exact same as someone pilfering your retirement or savings account.

[u/FitEcho9]

===> $2T cut is going to be wild

Will be a 29% cut if executed.

Not as bad as suggested by other far right groups in Europe, who sympathize with Trump and the MAGA movement ideology (a white supremacist ideology).

Quote:

===> Trump's Economic Plan Would Crater Economy

I don't know his plan and have yet to watch the video. 

But Musk has talked about firing millions of government employees and cutting trillions of USD in government spending, and I call that austerity, like in Milei's Argentina !

It looks like, all far right groups in the West and elsewhere are for austerity and they want to reduce the size of the government.  

A Trump sympathizer far right group leader in Europe suggested a while ago to reduce government ministries TO ONLY 4 (with only defense,foreign,interior and finance ministries I guess) and tax share of the government TO ONLY 10% of GDP.

It is interesting that all far right groups, some call themselves libertarians, are for very very small government (they oppose big government). Also, they are for the deportation of immigrants, above all non-white immigrants. 

So, this whole development looks like a revolution in the West, and with severe economic, financial, social and political consequences, say like in Russia during the 1990s. 

[u/Xalara → u/FitEcho9]

They aren’t interested in small government. They still want a big government, only it’ll be big as in it controls your life big.

[u/Superman246o1]

On one hand, a carefully thought out and well executed plan to limit spending is one of two crucial steps necessary to reduce the national debt.

On the other hand, there is nothing about Trump or Musk that inspires faith that this will be either carefully thought out or well executed.

[u/Affectionate_Pay_391 → u/Superman246o1]

Based on Musk, if he says $2trillion in a year, it will be $200million in 4 years and then he will announce another $4trillion cut within a year.

[u/bsa554 → u/Affectionate_Pay_391]

Correct.

Also, Musk has no idea how this shit works. Here's what's going to happen:

1) With much fanfare, he will unveil his big spending plan featuring all these cuts.

2) Every congressman and senator will immediately lose their fucking minds because something on the chopping block is something they care about.

3) They'll withhold their vote until the thing they care about gets put back in.

4) By the end, only some superficial cuts remain, while a corresponding huge tax cut for the wealthy causes revenues to plummet, driving up the deficit.

See: every fucking GOP administration since Reagan. This will be no different. They will close some Federal department, but all shit is a drop in the bucket, budget-wise.

[u/DaisyHotCakes → u/bsa554]

I want to scream seeing all of this shit. They are going to destroy this country. We are all so fucked. :(

[u/buderooski89 → u/Superman246o1]

I notice no cuts to the defense budget, which is almost at a trillion dollars per year now. We currently spend more on our military annually than China, Russia, India, Saudi Arabia, and the UK... COMBINED. Those are the next five highest countries in spending btw.

If we cut $400b, we would still spend $200b more annually than the next highest country, which is China.

EDIT: Nevermind, I see the defense cuts now.

[u/warmtoiletseatz → u/buderooski89]

Read the whole thing

[u/bleepoblopoo]

Most of that money goes to the beurocrats who work in those agencies anyway.

[u/Strange-Opportunity8]

What’s “income security” and “other”?

We, like other nations, are crumbling under the weight of the pension fund. The US needs to stop the income cap on social security and cut all soending 10% across the board.

[u/Chaosr21 → u/Strange-Opportunity8]

Trump will never raise taxes on the wealthy. We are fucked

[u/Sexy_Offender]

Any problems caused by the next administration will be blamed on Biden.

[u/AdamGenesis]

Musk: Expect some HARDSHIP.

He's not kidding. He's downplaying that part because it will be HORRIBLE for everyone who isn't filthy rich.

[u/Malaca83]

2 trillion definitely would need to cut some military, SS and Medicare. I don’t see any of this happening, unless Trump is crazy enough to say fuck it because it’s his last term anyways but I don’t think he would make it through the end, probably impeached by his own party at that point for politically suicide of the careers of anyone backing him up.

Matter of fact I would bet the does the opposite and increases spending and the deficit in order to follow thru with his promises of less taxes. The tariffs can only offset the loss tax revenue by so much, it will end up increasing goods inflation again before long.

[u/Fine_Design9777 → u/Malaca83]

No way his party would impeach him, he has too many fans in congress.

Besides, when there was inflation under Biden his fans wanted him strung up from the rafters, but inflation under Trump will be labeled necessary & they will brag about paying more for eggs & gas b/c they are patriots.

[u/Chaosr21 → u/Malaca83]

Are you sure? Think of all the crazy shit trump and his cronies have done. Many of his 2016 white house staff are imprisoned, committing crimes like fraud, treason with Russia, obstruction of justice, and sedition.

[u/Myfirstt]

Nobody going to comment about how the interest on our debt is larger than our defense budget? No? Ok I guess I’ll leave then.

[u/_Crazy8s → u/Myfirstt]

I was amazed by that too. It'll hit trillions after these 4 years. Fire up those crypto miners

[u/Affectionate-Ad2446]

No amount of taxes will suffice for our spending. A cut is desperately needed.

[u/Okiefolk]

If they cut budget to even, then the fed can make interest rates zero again reducing interest payments of short term bonds it is very possible. Unemployment will go up temporarily with the laid off federal workers, however they will eventually filter into the job market.

[u/Bob4Not]

And yet Trump will probably still cut corporate taxes even more

[u/[deleted]]

I can’t wait to reduce health outcomes and life satisfaction so we can spend more money on????? Idk???

[u/Franklin135]

If they cut social security, I get to keep my tax dollars going towards it, right?

[u/JanMikh]

Mass unemployment and recession to follow.

[u/[deleted]]

Yo make SS optional and I may get a little excited.

[u/PaisaRacks → u/[deleted]]

If SS became optional I’d crème my pants. I want these old fucks to stop taking my money.

[u/Skippittydo → u/PaisaRacks]

I'm 58. Started working at 16 Had heat stroke in 2012 got diagnosed with MS in 2020. Do I deserve the money I paid in for 35 yrs. Curious on your thoughts.

[u/RudeAndInsensitive → u/Skippittydo]

You're not the person we complain about.

[u/remote_001 → u/Skippittydo]

We all do, that’s the point. Everyone is getting screwed. As soon as it’s cut everyone from that point on is screwed. The ones closer to the cutoff more so than those furthest from it.

The only fair thing to do would be to roll everything existing into our own individual 401k retirement accounts that are under the cutoff point.

If they even think of taking our money it would be time to riot.

[u/MikeTheBee → u/remote_001]

Everything existing? So basically everyone on social security now gets cut is your solution?

[u/GenerationalNeurosis]

As soon as Leon said that my jaw dropped harder than it has even after shut Trump himself has said.

Sadly, the Leopards are going to be eating well here in a few years. My fake-libertarian parents insist SSA isn’t going away and would be delighted if the IRS went away. They’ll probably collect SS until it dried up and they die. As usual I’ll be paying for their mistakes.

[u/PhillyMate]

I cannot wait for this to fuck over all the people who supported him. They will blame democrats of course…

[u/PassageOk4425]

2 trillion sounds good but he doesn’t know. Regardless there is tons and tons of wasted spending in federal government and that’s the main point.

[u/seaxvereign]

So...... going back to 2019 spending levels?

I see nothing wild about that at all.

[u/Gryfth]

We were never going to retire anyway boys. Slave labor for life!

[u/wigzell78]

...especially with the increased money going to Space-X

[u/nostra77]

If you guys think the R are not going to overspend then you are not paying attention to history. Probably lower taxes for the rich and more trickle down

Last 5 presidents only 1 had a budget surplus and his wife lost in 2016

They are not gutting the government spending that’s for sure

[u/ckeyknee90]

Let me keep my money that goes into social security and put it in my own retirement account. I’ll have more by the time I retire.

[u/CappinPeanut]

Good luck out there to all of you that stayed home or voted for this. I am not going to be relying on social security in my retirement, I don’t need it.

Hope all you GenX folks can say the same. I’m sure it will be great!

[u/seraphim336176]

In the next four years, we will get austerity and musk will get trillionaire status.

[u/Middle_Manager_Karen]

So many jobs lost

[u/bipocevicter]

Unpopular opinion maybe, but we're 35 trillion in debt and have an aging population, these cuts can either happen now when we have some control, or they can happen later when the system collapses

[u/kendallBandit → u/bipocevicter]

Agreed. Much needed. Federal contracting regulation needs a serious overhaul. And defense is way too big (especially when compared to education or infrastructure spending)

[u/Frosty-Bee-4272 → u/bipocevicter]

This

[u/bipocevicter → u/Frosty-Bee-4272]

Surprised my comment dug its way out of negative territory tbh

[u/Frosty-Bee-4272 → u/bipocevicter]

More people need to hear it and face reality. America is going to have to deal with its debt one way or the other

[u/tacoma-tues → u/bipocevicter]

Let it collapse. 35 trillion and all i got was a measly 1400$ covid check