Courtesy of Chuck Blahous, writing at e21.
- Social Security faces a huge financing shortfall.
- The shortfall is certain.
- We are running out of time to save Social Security, if we haven’t already.
- We need public trustees.
Check out the whole article here.
Posts
1 comment:
Social Security since it began collecting payroll taxes in 1937 has never once ran an actuarial surplus. Every single year SS-OASI has been in operation has added to the unfunded liability.
Now 82 years later some still think of saving Social Security. My question is simple who are you saving it for? Millennials do not want it, Generation z does not want it.
To me the only people who want to save this hunk of junk are those who were snookered and failed while they were working to do something about it. However, they buried their heads in the sand and tunde out all those who attempted to educate people on how Social Security works.
In is a ponzi scheme.
Women are having fewer babies.
Abortion had killed of tens of millions of potential workers today
The worker to retiree ratio has been falling since the year SS-OASI began in 11937.
Payroll taxes began rising in 1950 and still at 10.6% for OASI it is not enough and over just 75 years is nearly 2.5 percentage points too low.
The base was at 125% of the US Average Wage and now is over 200% and OASI is still drowning.
Social Security is not going BROKE, it is BROKE,
I sincerely wish I had been wrong about this, but since 1973 I have been right.
Post a Comment