Plus over $w6 billion was paid into social security by migrant workers who will never see any of that tax money when they retire because they do not have SS numbers. That figure was from 2023.
Social Security and Medicare are entitlements because we are entitled to them because we've paid for them already. Don't make entitlement a dirty word, that's what they try to do.
We need to raise the cap on the level of income for FICA taxes. Any income over $176,100 is not taxed for FICA in 2025. If we raise that cap sufficiently we can get through the Boomer logjam… and leave a surplus for the following generations.
THIS⬆︎⬆︎⬆︎ every minute of every day! And an upward-pointing middle finger to everyone who refuses to understand it due to sheer greed and/or political pearl-clutching + special hell for the greedy *expletives* who want to steal it from hard-working people who don't want to die on the job in old age.
To be accurate, the SS fund is required to be invested in Treasury Bonds. That means that SS lends the money to the government. The government doesn’t borrow it. That money *by law has to* be invested in T-bills. SS then earns interest.
Congress is obligated to pay it back.
2/ because no one is going to want to sell their stocks when they know that stock prices will skyrocket once all that money from social security floods NYSE, NASDAQ, etc.
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Congress is obligated to pay it back.
They will come up with any con to their hands on that S.S honey pot.
Because
Grifters gotta grift.
As if the cash is just sitting in a bank somewhere, gathering dust.
In reality, the Federal Government would have to borrow money from the market, and pay higher interest rates than they do now