Don't Just Panic Over Social Security's Worsening Finances- Do Something About it
For the first time in history, in 2010 Social Security paid out more money in benefits than it collected through payroll tax; The extra money being set aside in the Trust Fund for the past 30 years will be used up by 2033- three years earlier than projected just a year ago; The payroll tax would have to immediately be raised by 2.67 percentage ... (more)
Join the discussion below, or Read more at Fox News.
#1 Apr 30, 2012
The 2012 Trustee's Report details the exhaustion of trust fund reserves in 2033, three years earlier than projected last year ( http://1.usa.gov/Kg5KuF ). Yes, it is true that even after the fund is exhausted Social Security will be able to pay 75% of benefits, but how is being able to meet only three quarters of its obligations acceptable?
Reform must take place: either by raising the wage cap, by increasing the retirement age to keep pace with longevity, by means-testing and eliminating benefits for very high income seniors, or by some combination of these proposals.
Add your comments below
|Where to buy dichloroacetate... (Jul '07)||Thu||Madeline||48|
|US and Canada Banks Transfer Available||Thu||Tony Blaze||2|
|Bank Transfer Hacker (Sep '13)||Thu||Keith||8|
|will the loblaw warehouse in ottawa close its d... (Sep '09)||Thu||Dow||163|
|Obama greeted by protesters waving Confederate ...||Sep 2||impastor huckabee||2|
|Trump upends GOP message on economy||Sep 1||wild child||2|
|This viral video of an Israeli soldier trying t...||Sep 1||Eleanor||1|
Find what you want!
Search Business News Forum Now
Copyright © 2015 Topix LLC