The debate about Social Security: Age, wealth and taxes
Panelists were in agreement Wednesday that a bipartisan deal will have to be made to change the way Social Security is run to shore up the entitlement program.
What that deal consists of, however, will be shaped by who shows up to advocate for the remodel.
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Social Security is less than seven years from insolvency, at which point the law will call for a 24% cut to all benefits.
Despite facing deficits, Social Security continues to pay the countrys wealthiest couples roughly $100,000 in annual benefits. Just a few people enjoy the generous benefits currently, but that number will become increasingly more common, the committee said.
https://www.yahoo.com/news/articles/debate-social-security-age-wealth-030001700.html
CousinIT
(12,576 posts)OR the 25% reduction in payments, because they are NOT NECESSARY.
The evidently MAGA men discussed in this article are advocating for cuts called "Boomer Communist" ....something or other. That tells you a LOT about this group of idiots.
Somebody - probably some right-wing extremist fascist outfit- is pushing their narrative. If they were not, we wouldn't be seeing it in "Yahoo" news or elsewhere.
RAISE the damn cap. Rep John Larson's Social Security 2011 Act MUST. BE. PASSED. And I want DEMOCRATS IN POWER TO PASS IT.
Furthermore, this MUST be one of the DEMOCRATS' TOP PRIORITIES.
PERIOD.
Stark Raving Sane
(5 posts)If a party wants to lose more and more elections, by all means get on the bandwagon of "debating" whether social security is too generous. $100,000 is barely enough to live on in many areas of the country.
In order to afford the average rent in Manhattan, you need to make at least $186,948 a year.
Raise the cap.
Fiendish Thingy
(23,372 posts)Then they can ram through legislation lifting the cap on withholding for SS, and the system will be solvent for the foreseeable future.