The Trust Fund is a result of overpayments from payroll taxes not needed to fund current year retirees. You blame the Social Security. It was the government that raided the funds and replaced them with IOU's. The $3 trillion trust fund balance (held in IOUs) is testament to the fact that the program has worked quite well. It needs a tweak to be able to serve future generations. A simple fix would be to remove the wage cap on SS contributions. Social Security serves 64 million Americans. Yet our fatuous representatives fail to do anything about it. I'm an independent, neither party does jack shit to represent me. If this program is so untenable about some alternative suggestions from our so called representatives.
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If a privatized program can do a better job, spell it out. But some genius might want to consider what to do about all the funds being currently paid in?
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If I was a young person I'd be mad as hell paying 12.4 percent of my income into a program threated with termination, your so called Ponzi scheme. But instead they are silent.
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If the program is to be terminated in the future I'd sure has hell be lobbying for those funds I've been paying into the program for nothing. For nothing if the government cancels the promise a a meager retirement income in the future.
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Thanks for proposing some possible solutions and getting the problem out there for discussion. What drives me crazy is how our government simply ignores the problem. Like everything else they do they will wait till the last minute and come up with a half-assed political solution that will fuck everybody but the wealthy.
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https://medium.com/politically-speaking/why-cant-our-government-fix-social-security-ee360eb5d85c