Social Security is edging closer to a financial cliff that could eventually lead to sharp benefit cuts for 70 million Americans, according to a recent analysis from the Committee for a Responsible Federal Budget.
Social Security is inching closer to a financial crisis that could result in significant benefit cuts for 70 million Americans. A recent analysis from the Committee for a Responsible Federal Budget (CRFB) estimates that a typical couple could see their annual benefits reduced by $16,500 in 2033. For a middle-income single worker, the cuts would amount to about $8,200 per year, according to the CRFB, a nonpartisan organization focused on fiscal issues. The analysis assumes no action is taken to fix Social Security before its trust fund becomes insolvent in 2033. The main source of Social Security benefits, the Old-Age and Survivors Insurance (OASI) Trust Fund, holds $2.6 trillion. However, Social Security is currently paying out more in benefits than it receives in taxes, partly due to the large number of baby boomers retiring. As a result, the agency is drawing from the trust fund to meet its obligations. Without changes, the trust fund is projected to be depleted by 2033. This would trigger an automatic 21% reduction in benefits for all recipients, regardless of income or marital status, according to the CRFB analysis. Such cuts could severely impact retirees, with 40% of seniors relying solely on Social Security for their income, which averages $1,907 per month.
Ah yes...a 27% tax increase...not like RONNIE "TAX CUT WARRIOR" RAYGUN's SS payroll tax increase back in 1983 wasn't enough..."There's a cost to waiting," he said. "Right now, the program could be fixed with a 27% tax increase or a 21% benefit cut. If we wait, those numbers will only grow."
Last week, the IRS has stated that Americans must report payments on Venmo, PayPal over $600. Last week, the Defense Department failed its fifth audit, unable to account for more than 61% its assets, worth about $1.8 trillion.
One thing for sure is, we know you are...LowIQTrash » 26 Sep 2024, 12:34 am » wrote: ↑ LOLOLOLOLOLOLOLOL
https://x.com/unusual_whales/status/1838813431849455782
How much do you want to bet they STILL want you to pay the same % payroll taxes?
what do they "pay in taxes"? and remember, it's based on income, not wealth...LowIQTrash » 26 Sep 2024, 12:37 am » wrote: ↑ Ah yes...a 27% tax increase...not like RONNIE "TAX CUT WARRIOR" RAYGUN's SS payroll tax increase back in 1983 wasn't enough...
I am sure people like Elon Musk and Jeff Bezos will pay their "fair share?" No? You say they have all their NW locked up in assets so they can't be taxed? And they get federal subsidies (carbon "credits" and reduced USPS fees?)
Well, too bad, bitches...time for you peons to pony up...
Less than their secretaries - and if they want a mouth on their dicks, they can afford better than yours.ROG62 » 26 Sep 2024, 5:42 am » wrote: ↑ what do they "pay in taxes"? and remember, it's based on income, not wealth...
Jeff Bezos’ salary hovers around $80KCannonpointer » 26 Sep 2024, 11:37 am » wrote: ↑ Less than their secretaries - and if they want a mouth on their dicks, they can afford better than yours.
They likely do not contribute a penny to social security, BUT IF THEY DO, they only pay on a fraction of their incomes.
You're talking % and they're taxed at the highest rate...the only difference is how much is legally written off...Cannonpointer » 26 Sep 2024, 11:37 am » wrote: ↑ Less than their secretaries - and if they want a mouth on their dicks, they can afford better than yours.
They likely do not contribute a penny to social security, BUT IF THEY DO, they only pay on a fraction of their incomes.
They're not taxed at all, actually, unless you are referring specifically and exclusively to the federal income tax - which they are mostly able to avoid through tailor-made, bought-and-paid-for loopholes. Most of the taxes that most of us pay do not touch a hair on the heads of the super wealthy.ROG62 » 26 Sep 2024, 2:01 pm » wrote: ↑ You're talking % and they're taxed at the highest rate...the only difference is how much is legally written off...
SSI withholding is based up to a maximum income of 156k...
LowIQTrash » 26 Sep 2024, 12:37 am » wrote: ↑ Ah yes...a 27% tax increase...not like RONNIE "TAX CUT WARRIOR" RAYGUN's SS payroll tax increase back in 1983 wasn't enough...
I am sure people like Elon Musk and Jeff Bezos will pay their "fair share?" No? You say they have all their NW locked up in assets so they can't be taxed? And they get federal subsidies (carbon "credits" and reduced USPS fees?)
Well, too bad, bitches...time for you peons to pony up...
LowIQTrash » 26 Sep 2024, 12:34 am » wrote: ↑ LOLOLOLOLOLOLOLOL
https://x.com/unusual_whales/status/1838813431849455782
How much do you want to bet they STILL want you to pay the same % payroll taxes?
But that would fix the problem at the expense of the wealthiest Americans - not the working class.jerrab » 26 Sep 2024, 2:18 pm » wrote: ↑ they would pay their fair share if the cap was lifted like it should be. any money is not taxed after 190,000 a year.
lift the cap! !!!!
anything over 168,000 elon musk does not pay to social security.LowIQTrash » 26 Sep 2024, 12:37 am » wrote: ↑ Ah yes...a 27% tax increase...not like RONNIE "TAX CUT WARRIOR" RAYGUN's SS payroll tax increase back in 1983 wasn't enough...
I am sure people like Elon Musk and Jeff Bezos will pay their "fair share?" No? You say they have all their NW locked up in assets so they can't be taxed? And they get federal subsidies (carbon "credits" and reduced USPS fees?)
Well, too bad, bitches...time for you peons to pony up...
Bezos and Musk declare low salaries ($80-100K ballpark)jerrab » 26 Sep 2024, 2:24 pm » wrote: ↑ anything over 168,000 elon musk does not pay to social security.
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Employees and employers are each required to pay a 6.2% tax on wages. In 2025, the limit is estimated to go up to $174,900, which has consistently increased from $168,600 in 2024 and $160,200 in 2023.
His posting style resembles Maineman’s
I guess you missed this?Cannonpointer » 26 Sep 2024, 2:17 pm » wrote: ↑ They're not taxed at all, actually, unless you are referring specifically and exclusively to the federal income tax - which they are mostly able to avoid through tailor-made, bought-and-paid-for loopholes. Most of the taxes that most of us pay do not touch a hair on the heads of the super wealthy.
When you get all through dick mouthing about it, and the cum is coating the sated and satisfied lining of your cock-socket, the super wealthy pay a substantially lower tax on their incomes than do their secretaries.
Okay - parse, beevee. Parse.
LowIQTrash » 26 Sep 2024, 2:35 pm » wrote: ↑ His posting style resembles Maineman’s
Vegas giants loved trolling people…