Reply to Are you worried about your parents losing social security?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not worried at all because my parents are still alive.

Constant fear mongering is getting tiresome.[/quote]
Perhaps you need to spend time reading all the the executive orders and presidential memos. [/quote]

They don’t read.[/quote]

Link(s) please? I'd like to read about the likelihood of this happening.[/quote]

Joe Rogan podcast with Elon Musk. He calls SS a "ponzi scheme."

Cato Institute calls SS a "ponzi scheme."

Of course, they won't say directly, "We will gut social security" because people would freak out. Cato Institute also does not point out that SS could be funded if they taxed people on earnings above $176,000. Funny how they didn't mention that detail...

In essence, the program operates like a Ponzi scheme: Paying benefits promised to earlier generations depends on new revenues from current and future workers. With an aging population, the worker-to-beneficiary ratio has been decreasing, making Social Security’s finances increasingly unsustainable and placing a growing fiscal burden on workers. According to the Congressional Budget Office (CBO), the payroll tax would need to immediately increase by 4.3 percentage points, from 12.4 percent to 16.7 percent, to cover the program’s long-term funding shortfall. This means an additional $2,600 in annual payroll taxes for a median earner ($61,000 annually), bringing their total payroll tax burden to more than $10,000 each year.

https://www.cato.org/white-paper/cato-institute-report-department-government-efficiency-doge#shrink-social-security[/quote]

That is kind of scary, probably they should root out fraud as much as possible in order to minimize risk.[/quote]

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