The Social Security is running out MYTH!

[Remote]

So lately what you're seeing among conservatives is a push to increase the retirement age because allegedly, social security is running out of money.

That is true, but not exactly.

What is happening is that as more Boomers enter retirement, the funds are depleting faster because there hasn't been a large enough workforce behind that generation to contribute enough money to social security to pay out all the money that will be paid out to the Boomers. But that doesn't mean Social Security is going bankrupt -- only that it's possible that payments will have to be capped for a short while until the money catches up.

Conservatives want to increase the retirement age to have more money to pay for this. But this is wildly unpopular.
There are various alternatives, raising the social security tax cap (currently around $170,000), taxing high investment income, and others...

This video explains the issue fairly simply and well.

 

[Elim Garak]

Facts we know exactly how to fix it, and it doesn't need to be cut.

 

[beaniemac]

So lately what you're seeing among conservatives is a push to increase the retirement age because allegedly, social security is running out of money.

That is true, but not exactly.

What is happening is that as more Boomers enter retirement, the funds are depleting faster because there hasn't been a large enough workforce behind that generation to contribute enough money to social security to pay out all the money that will be paid out to the Boomers. But that doesn't mean Social Security is going bankrupt -- only that it's possible that payments will have to be capped for a short while until the money catches up.

Conservatives want to increase the retirement age to have more money to pay for this. But this is wildly unpopular.
There are various alternatives, raising the social security tax cap (currently around $170,000), taxing high investment income, and others...

This video explains the issue fairly simply and well.

I watched this earlier this week. but for putting this info out here.

 

[The God Poster]

So lately what you're seeing among conservatives is a push to increase the retirement age because allegedly, social security is running out of money.

That is true, but not exactly.

What is happening is that as more Boomers enter retirement, the funds are depleting faster because there hasn't been a large enough workforce behind that generation to contribute enough money to social security to pay out all the money that will be paid out to the Boomers. But that doesn't mean Social Security is going bankrupt -- only that it's possible that payments will have to be capped for a short while until the money catches up.

Conservatives want to increase the retirement age to have more money to pay for this. But this is wildly unpopular.
There are various alternatives, raising the social security tax cap (currently around $170,000), taxing high investment income, and others...

This video explains the issue fairly simply and well.

Lately? It’s the same thing they been tryna push to slick they way into votes for years

 

[IIVI]

Jeff Bezos has a salary of $81k so that's the part they tax for Social Security is straight garbagio

Basically the wealthy people need to punch in more than $168k/year cap or need to pay the Social Security tax based on their investments.

Can't say "we're all in this together" like they did at the end of that video when the billionaires (who are a part of the financial system) aren't acting like it.

Great video.