Trump Launches Final Attack on Social Security

[sagesnow]

[usaf-vet]

1. Stop bitching about Social Security running out of money. Raise the Social Security Wage Base.

Currently

You aren't required to pay the Social Security tax on any income beyond the Social Security Wage Base. In 2021, this limit is $142,800, up from the 2020 limit of $137,700. As a result, in 2021, you'll pay no more than $8,853.60 ($142,800 x 6.2%) in Social Security taxes.Oct 14, 2020

Raise the Social Security Wage Base to $250,000, $500,000, $750,000, $1,000,000, or whatever it takes to keep Social Security solvent. Simple solution except for the riches of the rich does want to pay their fair share. THAT NEEDS TO STOP.

[Rebl2]

2. I agree

It needs to be raised to at least $500,000 if not more. I am sure they take that s.s. payment, so why shouldn’t they pay in to it.

[usaf-vet]

3. EXACTLY! Stop laying the problem on those who rely on SS especially those that are disabled.

[RVN VET71]

4. The actuaries at Social Security project a payment debacle in 2035

According to their projections, there will only be enough money in the trust fund will only be sufficient to cover 75% of payments due recipients.

I thought that this coming disaster included the I.O.U.s that congress has left when it borrowed/pillaged the actual trust fund itself. The assumption being that Congress would have to pay back the money it took out of the fund when the bill came due. In other words, from what I’ve been led to believe, the trust fund, even if it had been locked up tight from greedy and oily congressional hands, would be in a worsening, troubling situation over the next 15 years as more people applied for benefits and fewer actually paid into the system. (It was Lyndon Johnson, incidentally, who opened the doors of Social Security’s trust fund to the hands and pockets of Congress.)

Am I wrong about this?

Incidentally, I know recommendations have been made to do away with the so-called “taxable income ceiling” altogether -- as well as raising the payroll tax from it’s current 6.2% (actually 12.4% because it includes the employer’s share) to 7% or higher. It was raised from 5.7% to 6.2% in, I think, the late ‘80s, so I see no reason why it wouldn’t be raised again. And I have no problem with that as long as it comes with a modification of the taxable income ceiling, or its elimination altogether.

[SouthernLiberal]

5. And some could work....

If companies would hire them, and provide the necessary accommodations. During a short time when I was nominally a supervisor, on of the people who reported to me was totally blind. Because the company would not provide the equipment and software he needed to do his job, he worked from home and bought it himself.

But our manager firmly believed that if she could not watch someone working, they were not working. I was in contact with him daily, and I knew his work, which was excellent. Still, he was let go, not because he couldn't do the work, but because our manager could not bring herself to believe that he was doing the work.