[from_memory]

Yes, and the sky may fall tomorrow. The longer I live the more I read these sensationalist headlines designed to gin up angst and antagonize people's peace of mind.

Social Security's solvency has been the subject of much debate, but clearer heads point toward a graduation of the current system to include higher earners. That will accommodate the large aging population's demand. Case closed, easy peasy lemon squeezy.

[edmundsauto]

Famously, America has shown to be exceptionally skilled at getting the rich to help pay for society they sit on top of.

[paytonjjones]

It's hard to tell whether this is sarcastic, because like the safety of nuclear energy, it's literally true but few people believe it.

[jst1fthsdys]

No it isn’t. Not since the 80s at least.

[bdcravens]

A quick check (ie, letting ChatGPT do the math) shows that if all caps on taxation was eliminated, it would help, but not solve the problem completely.

[seanmcdirmid]

If nothing is done it’s a mathematical fact. The problem is that there are no plans to do anything yet, each administration and congress seeing it as too politically volatile to deal with, which means we will have a last minute suboptimal solution.

Obviously there are solutions. Maybe if America survives that long we might see one implemented.

[secabeen]

Sure, if nothing is done. The trust fund redeeming its bonds is little different than the congress appropriating money for Social Security benefits; both come out of the current revenue of the USG. When the trust fund no longer has any bonds to redeem, there's nothing stopping congress from continuing to transfer money into Social Security to pay benefits at existing levels. They'll just have to vote on it rather than it happening automatically.

[seanmcdirmid]

2033 is when all the bonds should have been redeemed and there is no money left to redeem, just contributions coming in and more payments going out. And yes, congress can do a straight injection from the general fund, it’s just even more deficit spending at that point.

[adam_arthur]

The hole can be filled overnight by just raising the retirement age.

And if you normalize for longer lifespans, it's perfectly reasonable.

[mikewarot]

Great, so everyone in their 60s works for a decade more, as their health declines, and everyone under 60 has to deal with the increased unemployment that would cause.

It would be better to just get rid of the loophole for the rentier class (The FICA cap at $186,000), and this actually would be solved.

[bluefirebrand]

People are living longer sure, but are they fit for work longer?

Or just living longer with dementia and stuff?

[seanmcdirmid]

Ya, there are wide different outcomes to consider with respect to health. Also people should really be retiring earlier, not later, as automation picks up. The way things are progressing right now are just whack.

[bluefirebrand]

Personally I watched my Grandpa wither away from Parkinsons and eventually Alzheimer's for over a decade, starting only a couple of years after he retired. He spent most of his retired life in hospice care not recognizing his children or grandchildren.

Knowing that is likely my eventual fate too, I really don't want to wait to the last possible minute to retire.

It's a huge shame we can't accurately predict future illnesses and such, we could plan so much more effectively. As it stands we have to do our best and live good lives before we aren't capable of that anymore. Many people won't have a nice retirement. Many won't even live that long in the first place. Society can probably do better for everyone than we currently do

[seanmcdirmid]

The sad thing is that those people who need social security the most usually have it for the least amount of time. Obviously are priorities suck.

[Fezzik]

I never imagined that, in my lifetime, Roe would be overturned or that entirely untrained federal thugs would be allowed to murder people on video with no repercussions at all… we live (as others often have) in strange times.

[jauntywundrkind]

Being convinced of disreality is a pervasive weapon that keeps being leveraged by the valent evil bad forces to make things worse and worse. Gladly tying the blindfold around your eyes should not be allowed to look as cool as this kind of post tries to exude.

Theres something so PKD about these fake realities, that have breached any and all containment, that people so readily deny any sense & sensibility. Just because. It's caused such huge disasters already. But it feels like still so many slumber on, that camp Wide Awake suffers so.

Brandolini's Law, the Bullshit Asymmetry Principle lurks below every reality based discussion, waiting for any chance to plunge thr pariticpants through to the unfathomable depths of unreality. It's a bitch of a structural advantage to be able to leave engagement and caring and discussion behind at any point, and plunge into that freezing alien other, to leave reality behind.

[rpdillon]

This is fantasy. There's nowhere for the money to come from. They're going to raise the age, reduce benefits.

[Grombobulous]

Tax rates could be raised, especially on the wealthy, who enjoy historically low tax rates.

[rpdillon]

Yes, I believe Senator Slotkin was recommending that we remove the cap on Social Security so that folks making more than $180,000 continue to pay Social Security tax on the income above that amount.

[Grombobulous]

Not only is that a workable idea but you can really do a lot of other things.

For example, simply raising marginal income tax rates will recover taxes from 401k accounts since they already have required minimum distributions.