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Politics : Formerly About Advanced Micro Devices
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To: Bill who wrote (1550691)8/5/2025 2:03:51 PM
From: i-node1 Recommendation

Recommended By
longz

   of 1570790
 
The elephant in the room is the wage cap. Survival of the program will require eliminating the wage cap.
The fundamental premise of Social Security funding is that it a small tax on wages. It was based on a 2% tax on the first $3,000 of wages. There was no tax on benefits at all.

The program is technically insolvent and has been since 1980. It is now approaching a point of actual insolvency. We are facing dramatic reductions in the numbers of employees over the coming 30-40 year period.

Bottom line: You cannot even PATCH, let alone FIX this Ponzi scheme with more taxes on wages. Can't be done. IMO.

Some people are of the opinion job growth is going to continue; for those, maybe it works. But, I'm struggling to see how that works. I think the logic is that, as with the Industrial Revolution, lost jobs will be replaced with different jobs so that will happen again.

But my view is that lost jobs will be replaced with AI. While the initial surge is likely to run into problems (already is, IMO), 10 years of improvement will get us beyond that period when people will not be making commitments to workers. Instead, they will spend the money or more machines.

I see no reason to think that labor in the traditional sense will be necessary; we will be far more capable of simply having robots do that stuff. Can robots do plumbing to spec? Sure.

IMO, of course.
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