Correcting a wrong done in the Reagan years. Thank you President Biden and everyone who fought to correct it.
JeromeCable092 on
Some on the right might try to push for a Privatized Individual Account system as a form of social security, arguing the rate of return when the money is invested in the public market is more profitable and provides less “governmental control” over the citizen while encouraging economic growth. This will be more mindless pushback to anything the Left does without considering it’s validity.
Doubtlessly, they will fail to acknowledge the increased risk to the consumer who is victim to fluctuations within the market, the existence of inflation protection within the current social security system, and the extreme cost to modify the already existing system that will have to affect the rate of investment for those under this Private experiment. All this while ignoring that both Social Security and Private Individual account have roughly the same potential rate of return. The system has fallen short in large part due to the wealthy’s failure to pay their part, something which reliance on the public market would further exaggerate.
Another way the Right will parrot talking points they put little to no research into.
cdistefa on
Our dear president just woke up out of a long dream and decided to help the people just few days before catastrophe takes over.
TheRagingAmish on
Social security trust fund was estimated to run out in 2035
I’m all for taxing the wealthy to make up the difference. I’m willing to bet that trust fund will empty closer to 2032, forcing the issue into the 2028 election.
Biden just ( justifiably ) added millions of recipients.
Now consider actions Trump wants to take that will impact the program:
-No taxes on tips ( loss of revenue )
-Exempt Soc Sec income from taxes
-Deport illegal immigrants who pay into Soc Sec but would never receive it
-potential job losses from tariffs losing taxable Soc sec revenue
escapefromelba on
And Trump will take the credit when 2.5 million Americans receive a lump sum payment of thousands of dollars to make up for the shortfall in benefits they should have received in 2024.
Relyt21 on
The day after inauguration, Trump will take credit for this like he did for veterans Choice. And his idiotic cult will believe him.
MajesticsEleven on
I ain’t never going to see any social security benefits.
DrBunsonHoneyPoo on
I’m glad but worry that it’s all for naught. With Trump coming in and president musk threatening layoffs.
sdasu on
I see most action by Biden, from past elections in November.
LANMPOLICEBOX on
Is it more fair, yes. Will the money run out even faster, yes.
10 Comments
Correcting a wrong done in the Reagan years. Thank you President Biden and everyone who fought to correct it.
Some on the right might try to push for a Privatized Individual Account system as a form of social security, arguing the rate of return when the money is invested in the public market is more profitable and provides less “governmental control” over the citizen while encouraging economic growth. This will be more mindless pushback to anything the Left does without considering it’s validity.
Doubtlessly, they will fail to acknowledge the increased risk to the consumer who is victim to fluctuations within the market, the existence of inflation protection within the current social security system, and the extreme cost to modify the already existing system that will have to affect the rate of investment for those under this Private experiment. All this while ignoring that both Social Security and Private Individual account have roughly the same potential rate of return. The system has fallen short in large part due to the wealthy’s failure to pay their part, something which reliance on the public market would further exaggerate.
Another way the Right will parrot talking points they put little to no research into.
Our dear president just woke up out of a long dream and decided to help the people just few days before catastrophe takes over.
Social security trust fund was estimated to run out in 2035
I’m all for taxing the wealthy to make up the difference. I’m willing to bet that trust fund will empty closer to 2032, forcing the issue into the 2028 election.
Biden just ( justifiably ) added millions of recipients.
Now consider actions Trump wants to take that will impact the program:
-No taxes on tips ( loss of revenue )
-Exempt Soc Sec income from taxes
-Deport illegal immigrants who pay into Soc Sec but would never receive it
-potential job losses from tariffs losing taxable Soc sec revenue
And Trump will take the credit when 2.5 million Americans receive a lump sum payment of thousands of dollars to make up for the shortfall in benefits they should have received in 2024.
The day after inauguration, Trump will take credit for this like he did for veterans Choice. And his idiotic cult will believe him.
I ain’t never going to see any social security benefits.
I’m glad but worry that it’s all for naught. With Trump coming in and president musk threatening layoffs.
I see most action by Biden, from past elections in November.
Is it more fair, yes. Will the money run out even faster, yes.