Donald Trump and Social Security

[Stephen3141]

https://thehill.com/business/4944798-social-security-funds-could-run-out-in-6-years-under-trump-plans-analysis/

Regardless of what Donald Trump claims, the Committee for a Responsible
Federal Budget did an analysis of Trump's proposed economic goals.

And, their conclusion was that Trump's policies could cause the fund to run out
in 2025.

Although politicians may think that it is ppular to mention "tax cuts" in speeches,
Trump's tax cuts would limit the income of the Social Security fund.

 

[Merrill]

https://thehill.com/business/4944798-social-security-funds-could-run-out-in-6-years-under-trump-plans-analysis/

Regardless of what Donald Trump claims, the Committee for a Responsible
Federal Budget did an analysis of Trump's proposed economic goals.

And, their conclusion was that Trump's policies could cause the fund to run out
in 2025.

Although politicians may think that it is ppular to mention "tax cuts" in speeches,
Trump's tax cuts would limit the income of the Social Security fund.

It should be noted that Kamala Harris doesn't intend to do anything about the social security shortfalls either. The program will still go bankrupt

I have read some analyses that basically say the whole system will be bankrupt and insolvent within 10-20 years even if the government raises taxes dramatically and reduces benefits --in other words, it is doomed, and no one should assume they will be getting social security

no politician is going to cut 40% out of the federal budget, raise taxes on everyone, and hike the retirement age to 70 to save this program

the remaining money will probably be offloaded into retirement accounts of some kind for citizens (which would last for 5-10 years)

all of this is a consequence of bad fiscal policy by both parties going back to the 1970s

 

[Laodicean60]

I heard this song years ago but no fix from either party. Social security tax needs an update, the threshold is too low when it comes to other incomes I personally wouldn't mind no taxes, but not at the expense of government debt.

all of this is a consequence of bad fiscal policy by both parties going back to the 1970s

Yes!
Maybe started when we got off the gold standard and allowed uncheck printing.