How long do you think Social Security will last?

With immigration, so many people moving to countries, with businesses reducing their workforce, with the advent of AI taking over so many job, the tax base is being reduced.
Surely there will come a day when major changes will be needed.
Means testing? A threshold set, anyone one with more than the threshold will not receive Social Security.
I think I will be okay, not enough net worth to not receive it.
Low income/savings people will/should be okay. Though we never really know the future.
Politicians listen to advisors and it is those people that hold our future in their hands.
Will you be okay if, down the track, social security was greatly curtailed or even removed?

Top | Newest First | Oldest First

Poppies · 61-69, F

Your Social Security is not the same as my Social Security. I don't know anything about the security of Social Security in Australia!
I think politicians will safeguard at least some kind of benefit here (in the US) for the sake of their own political survival.

FrogManSometimesLooksBothWays · M

@Poppies Congress won't address the problems with Social Security for obvious reasons. The longer they wait, the more Draconian the solutions will have to be.
They need to act [b][c=BF0000][u][big]NOW![/big][/u][/c][/b]

Gusman · 61-69, M

@FrogManSometimesLooksBothWays Yes, without acting the situation could become so dire that SS could be wiped altogether.

akindheart · 61-69, F

Actually the tax base is not being reduced. think about it-the illegals are coming over and not always getting paid cash. they keep coming up with ways to cheat the govt by claiming multiple exemptions. BUT they are still paying into a system they will never recover from.

if you saw what i saw in claims, you would really be mad

Heartlander · 80-89, M

@akindheart Based on the scope of the criminal assault on our state's unemployment funds, I can only imagine the fraud that you probably see.

akindheart · 61-69, F

@Heartlander the illegals have managed to work the system. they get hurt and don't get it fixed. they take the same injury to the next employer. the carrier keeps cashing out with them. One mediation i was in , the illegal had 33 PAGES of claims. I fought over the settlement and he got only 11,000 so he went and sued for unlawful termination when he had quit

Heartlander · 80-89, M

Too much meddling with social security in the US would likely give moral justification for people to cheat on their taxes and drive the economy underground. Maybe this is is the rational behind the insistence by Biden that the government suddenly needs 90,000 more IRS agents. Of course we've all seen what politicizing the DOJ and FBI led to, so imagine what 90,000 more IRS agents could do with enforcing a million pages of IRS laws.

Add a comment...