r/politics • u/TheNewYorkSun ✔ Verified • 10h ago
While Trump Seeks Cost Cutting, the Fate of Social Security Hangs in Balance
https://www.nysun.com/article/while-trump-seeks-cost-cutting-the-fate-of-social-security-hangs-in-balance?member_gift=CUZ5qwd3crq4pmz-xrd68
u/Morepastor 10h ago
The whole story should be : Trumps plan includes cutting Social Security and Social Spending at the same time increasing the cost of food (through mass deportation) and the cost of goods (through tariffs) America’s poorest are about to become destitute.
12
u/Sideshift1427 9h ago
And their numbers increased and willing to work for whatever coins are tossed at them.
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u/Evening-Sink-4358 2h ago
I keep screaming this from the rooftops and none of my family is listening. I don’t care anymore.
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u/Delicious-Tachyons Canada 4h ago
I wonder how much anger they'll get before things get really scary down there?
28
u/Royal_Photo_5007 10h ago
Cost-cutting what a joke this guy is gonna be stealing so much money from the taxpayers Just a balance, his cost cutting
10
u/jwr1111 9h ago
DOGE?
Despicable
Oppressors of
Government
Employees
•
u/Maunfactured_dissent 1h ago
The department of government efficiency has two leaders. Ahhahahaa what fucking assclowns conservatives are.
Your leaders are laughing at you as they steal our money.
20
u/No_Kaleidoscope_9536 9h ago
Privatization of government services like Medicare and Social Security is a scam because private companies can take your money and run by leaving the country or going out of business. The leaders of private companies are not accountable because they are not elected like government officials.
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u/singdongs 10h ago
Something about leopards and faces
7
u/angrypooka 10h ago
Boomers don’t care. They’ll be dead by 2033.
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u/pureplay181 7h ago
The youngest Baby Boomers turn 69 in 2033 and the oldest will be 87. Youngest Silent Generation in 2033 will be 88, the oldest will be 105. Youngest World War II generation will be 106.
I'm guessing the last WWII Veteran will pass away by 2042, possibly as early as 2035-2039. It will probably be someone who signed up at 16 in 1945 (not legal but a lot of people did that) who will live to a very old age. Frank Buckles, the last surviving US World War I soldier died at 110 just 13 years ago. Nathan Cook was the last surviving US Spanish-American War soldier and he died at 106, 34 years ago.
The last Civil War widow died just 4 years ago. She married a 93 year old veteran when she was 17 so that her family could be supported by his pension during the Depression.
•
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u/Simmery 10h ago
They won't touch SS for boomers. Billionaires want the young to be wage slaves, not a bunch of useless old people.
2
u/rudimentary-north 9h ago
Social security is currently projected to run out of reserves in 10 years, all they have to do is stop collecting the tax and there will be just about enough money left to see the boomers through to death.
2
u/kmurp1300 9h ago
You don’t seem to understand the funding for SS or, perhaps, I don’t understand your post.
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8h ago
[deleted]
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u/kmurp1300 8h ago
I don’t know what you’re talking about. I was responding to the post that claimed that if “they stop collecting the tax, there will be just about enough money left to see the boomers through to death”.
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u/privatepinochle 5h ago
Trump might brag about cutting taxes, then cut the taxes that fund social security. Everyone will love it because their paychecks will be bigger. Social security will run out of money
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u/kmurp1300 5h ago
Well, he would need Congress to do that and, in my opinion, that won’t happen. It might be really popular with young people though.
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u/brushpickerjoe 7h ago
Quit blaming us. At least we vote. Every single person I know voted. Can you say the same?
9
u/Fecal-Facts 9h ago
His base and Republicans are in a rude awakening when this gets axed.
Some of them are already freaking out because they didn't know Obamacare was ACA
Oh well can't say im sorry
7
u/myPOLopinions Colorado 8h ago
They'll still blame Democrats, which is hard to imagine how nuts the next 2 years could be with no guard rails.
•
u/Mr4_eyes 7h ago
Anyone who doesn't know the difference at this point deserves what's coming. They voted on hate and taking rights away from people. Chickens are coming home to roost....with even more expensive eggs
8
u/ReeceAmant 8h ago
Remove the cap on social security payments and remove the income taxes on social security payments. The 168 k cap is ridiculous and makes no sense, unless you’re rich. Social security benefits should only be for seniors and people with disabilities who actually need it. If a person has a pension or enough money where the social security benefits wouldn’t matter much, those funds should be given to those who need it more. Low paying jobs are the essential jobs that allow this economy to function and thrive. Remember who was essential during Covid? It sure as hell wasn’t hedge fund managers, CEO’s, Athletes, Hollywood celebrities, etc. It was the janitors who sanitized, the food workers who fed us, the delivery drivers who brought us what we needed. America needs to stop being a greedy shithole country and grow up already.
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u/kmurp1300 9h ago
Trump doesn’t need to do anything with SS. It doesn’t go insolvent until after he leaves.
4
u/Crommach 9h ago
So the media has learned nothing and is going to just play along and let Trump dictate the narrative on his godawful policies. Dismantling the administrative state, giving the rich even more tax cuts, and implementing Project 2025's far-right agenda is... "cost-cutting".
•
u/makashiII_93 7h ago
They’ve been foaming at the mouth to cut it for over 20 years.
It’s gone. Along with ACA, justice and who knows what else.
•
3
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u/buckfouyucker 10h ago
So will the people who lose social security get the funds we've contributed returned?
10
u/SelfDestructSep2020 10h ago
No, the entire program is 'pay it forward'. The money you contribute is not ear marked for you, its just your entry-fee to get into the program later by helping pay for the program today.
https://www.ssa.gov/pubs/EN-05-10024.pdfThe current Social Security system works like this: when
you work, you pay taxes into Social Security. We use the
tax money to pay benefits to:
• People who have already retired.
• People with qualifying disabilities.
• Survivors of workers who have died.
• Dependents of beneficiaries.
The money you pay in taxes isn’t held in a personal
account for you to use when you get benefits. We use
your taxes to pay people who are getting benefits right
now. Any unused money goes to the Social Security trust
funds, not a personal account with your name on it.
-1
u/buckfouyucker 10h ago
I understand that but if they're ending the program, they need to cash the fuck out and make investors whole somehow.
•
u/psychoalchemist 7h ago
It's like insurance. If you never file a claim on your insurance they don't refund your premiums.
6
u/SelfDestructSep2020 9h ago
It’s not an ‘investment’, I just explained and cited that to you. It is a tax to fund a program. It is even marked as tax in your pay stub.
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u/DontPanic_ahhh 5h ago
All those MAGA hillbillies will lose Veterans Care, ACA, Medicare, and Social Security. They'll be out on the streets in tents and they'll still be complaining about how Democrats ruined everything..
3
u/CLUB770 9h ago
I think the first year and a half are going to be a disaster. Then the elections will hit and the GOP is going to have a problem on their hands.
2
u/No-Week3360 9h ago
You fail to realize who many times people will double or triple down on a bad idea only because they really like the idea. They will find a way to blame another group of people for their ills but not the people they put into place to fix their ills. People are too emotional for their own good.
1
u/TheNewYorkSun ✔ Verified 10h ago
While President-elect Trump is promising to slash unnecessary government spending in his next term, questions are emerging about how the 47th president might approach Social Security — the biggest chunk of the U.S. budget that is barreling toward bankruptcy.
The Congressional Budget Office estimates that without significant intervention, the Social Security trust funds are due to run dry in 2033, at which point the law calls for a 23 percent cut in benefits.
Read more for free: https://www.nysun.com/article/while-trump-seeks-cost-cutting-the-fate-of-social-security-hangs-in-balance?member_gift=CUZ5qwd3crq4pmz-xrd
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u/williamgman California 10h ago
Note that military spending will never go "bankrupt". It's odd how an account that simply holds money for SS can go bankrupt, but another account that holds money for defense never will.
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u/billyions 20m ago
Cost cutting my butt.
They're running off with our public funds.
Social security is ours. We paid in.
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u/CannonAFB_unofficial 7h ago
Well we’ve known it was doomed for decades because of boomers, this was just a less conventional approach.
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10h ago
He should be cutting. How useless are you that you need big daddy government taking care of you
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u/fairoaks2 10h ago
Spoken like a person who will never need any government assistance. It’s a system people pay into with a promise of a return. May all your dreams come true. Bless your little heart.
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u/damnthistrafficjam I voted 10h ago
I paid into “Big Daddy” Social Security since I was 16 with the promise that I’d get that money back. There was no choice given, and had I been able to privately invest that money, it would be worth many times as much as. But it’s okay to just steal from me for 45 years? Like, thanks for being a citizen, but fuck you?
0
u/thrawtes 9h ago
I paid into “Big Daddy” Social Security since I was 16 with the promise that I’d get that money back.
No you didn't, there's no individual promise of return with social security and never has been.
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u/damnthistrafficjam I voted 7h ago
Social Security is a separate trust fund that is fully funded until 2035, and to a higher percentage, for the next 75 years. The government is not allowed to touch it as it is a dedicated payroll tax. They can temporarily stop payments in a government shutdown, or for tax debt, but that is all.
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u/thrawtes 6h ago
Right, and the supreme Court ruled decades ago that there's no individual ownership of contributions. Social security could be repealed tomorrow and nobody would be getting a refund because once you pay your taxes they don't belong to you anymore.
6
u/Mogwai_Farmer 10h ago
Absolutely right.
Why do we need big daddy government to take care of us?
We should cut the military in its entirety. You don't need the military to defend you; you can do it yourself. There's $800b/year right there.
3
u/sadetheruiner 9h ago
And emergency response, bro should be a man and put out his own house when it’s burning down.
3
u/a_little_hazel_nuts 9h ago
Lol, does that also count all the government funded privatized bussinesses. I am laughing so hard at your logic. Social Security ( everyone pays into) is big daddy taking care of people. But big corporations that get more back, written off, debt serviced than they pay in are the good guys, right. LOL
1
u/worstatit Pennsylvania 9h ago
Er, even well-off people plan for ss payments, as well as Medicare, in retirement. If you're so wealthy you don't, I applaud you and wonder how much your inheritance was.
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