17 Dec 2024 11:08 am
*Beekeeper » 17 Dec 2024, 10:48 am » wrote: ↑ Tell that to the Social Security Administration when it happens in a few years!! As their REPORTS ARE SAYING ALREADY, ASSWIPE!!
Now, what DO you think needs to be done to PREVENT THAT FROM HAPPENING?? BECAUSE when the TRUST FUNDS run dry, benefit CUTS will happen in 2035 at the CURRENT PACE of things.
Summary: Actuarial Status of the Social Security Trust Funds
Did you read the link?The projected reserve depletion date for the combined OASDI trust funds is 2035, a year later than in last year's report.2 Considered on its own, the OASI Trust Fund can pay full benefits until 2033, the same year as projected last year. As in last year's report, the DI Trust Fund is projected to be able to pay full benefits through the end of the 75-year projection period (2098 in this year's report).
Sources of Trust Fund IncomeDuring 2023, an estimated 183 million workers had earnings covered by Social Security and paid $1,233 billion in payroll taxes. Employees pay a 6.2 percent contribution from earnings up to a maximum of $168,600 in 2024, which their employers match. Self-employed workers pay both shares of the contribution, or 12.4 percent. In 2022, an estimated 48 percent of beneficiaries paid income taxes on part of their benefits. Receipts from these taxes go to the OASDI Trust Funds and Medicare's Hospital Insurance Trust Fund. In 2023, income to the combined OASDI trust funds from the taxation of benefits amounted to $51 billion. The trust funds also earned $67 billion in interest payments on their accumulated reserves.
The pirates want our money put on Wall Street
Where they can get their greedy little hands on it
take a look … Republicans are talking about raising the retirement age again to boot
if tRumps stops this **** ( like he promised)
I will give him credit
I have my doubts
