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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (136072)	8/22/2013 12:24:16 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 149317

"SS is welfare" is total bullshit. "I long ago made the assumption that I'd never see a dime of SS" I just made the assumption you don't know your ass from a hole in the ground. You can take in '22, at 62. I started at 64. Yesterday was pay day. SS is totally solvent, if nothing is done, 'til '37. Remove the earnings cap and it's good for 75 more years. Do nothing, payments drop to 76%. Tax robots (employers) replacing workers? That would be cool. As a result of changes to Social Security enacted in 1983, benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted. 1 At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits. Thus, the Congress will need to make changes to the scheduled benefits and revenue sources for the program in the future. The Social Security Board of Trustees project that changes equivalent to an immediate reduction in benefits of about 13 percent, or an immediate increase in the combined payroll tax rate from 12.4 percent to 14.4 percent, or some combination of these changes, would be sufficient to allow full payment of the scheduled benefits for the next 75 years. ssa.gov