Quote:
Originally Posted by biker1
No, that won't do it. This has been studied. The long term trend of a decreasing number of working people per retired person and people living longer has created a situation where SS taxes must increase or benefits must be reduced or the age where you can draw benefits must be pushed out, or all of the three. And, politicians have their hands on the money only to the extent that they can pass laws to change the SS tax rate and change the benefits. The politicians are the only ones who can fix this issue. Without politicians taking action, SS benefits are estimated to be reduced starting in 2033. 2033 is the estimate of when the trust fund will be exhausted and incoming SS taxes will only pay about 80% of benefits.
|
I have read 74% of benefits will be paid. Amazing how congress is not getting any pressure to fix this problem. The people who are totally dependent upon SS for retirement should wake up.