rsh@lemmy.world 11 months ago
Social security will be bankrupt by 2033 according to their own estimates.
www.ssa.gov/OACT/TRSUM/index.html
Somehow they expect to pay 80% benefits beyond that point.
Expect your income taxes to go up…and by a lot.
rsh@lemmy.world 11 months ago
Social security will be bankrupt by 2033 according to their own estimates.
www.ssa.gov/OACT/TRSUM/index.html
Somehow they expect to pay 80% benefits beyond that point.
Expect your income taxes to go up…and by a lot.
corgi@lemmy.world 11 months ago
They don’t expect to go bankrupt by 2033. That’s when the surplus/reserves will run out. The system doesn’t have the fixed amount of money. Current employees are constantly paying into it.
20% is the shortfall between payout vs people paying in. And it will only happen if it’s not addressed. Which I’m sure will get addressed last minute or something like that.