Not so. You don't know how they are redeemed. A new Treasury is sold on the public market in the amount owed on the Treasury from the T.F. including accrued interest.
I think it's clear that some adjustments will have to be made. But even if that does not happen, it would take some very brave politicians to allow Social Security to fail
That report is 4 years old. Not only that, but I don't believe the numbers. Peak in 2016? Costs to double over the next decade? Nope. Here's a CBO report from last year: Long-Term Projection for Social Security.
We need to bring in more immigrant workers to fund the boomers since the trust fund was squandered on tax cuts for the rich. The SS income cap should be removed and the retirement age increased. SS worked fine for retirement at age 65 when the average guy was dead within a year or two. It can't sustain a 65 year old retirement age when most people are living into their 80s.
Is that was RW propaganda media is saying? The truth is quite the opposite. SS tax revenues have exceeded SS outlays be trillions over the past three decades. It was supposed to be in a trust. Instead we blew it on tax cuts for the rich.
You mean compared to the Republican who threatened to cause a default on the debt if their demands to cut spending on a legitimately passed law was not met? If you have averaged 15% ROI over the past 15 years you're either very lucky or playing on insider information.
if we are having issue with social security then republicans need to raise the caps for the rich the rich should pay the same SS tax per dollar they earn as the rest of America, why should the middle class have to pay the tax for every dollar they earn but the rich do not? is giving huge tax cuts to the rich worth more to the right then protecting our elderly in this country
ok, even if True, the Middle east wars have cost that much and will cost much more.... why is it republicans always say yes to war, but no to things like Social Security for our elderly
yep, every dollar a person earns should be taxed as income if we want to give a tax break on investment income, make it be for the first 15k earned a year or something
You do realize the benefits one can receive from SS are capped, right? That there is a maximum amount? Why should anyone be asked to pay an uncapped amount it, for a capped amount out?
dems say we need to raise the caps on the rich, we should of raised them long ago we pay a ss tax for every dollar we earn, so should the rich remember, the generation that started SS, started with nothing and was able to do it, so can we, time to stop being the me me me generation and think about others like the elderly and disabled, cause it's the right thing to do we spent trillions on bush's two 10+ year wars, surely we can save social security
That is definitely true for the Republicans but it appears as though the Dems are being PROACTIVE for a change! Must be feeling the Bern, or something. But before looking at the Dem plan it is worth noting that the Repubs were planning on SLASHING social security benefits because they must SAVE the poor beleaguered 1% from having to reach into their pockets and actually pay for the privilege of living in America. https://www.fool.com/retirement/2017/02/18/in-case-you-missed-it-democrats-also-have-a-bill-t.aspx
Social Security is INSURANCE to keep the elderly from ending up destitute and in abject poverty. Those who are earning a lot have the exact same insurance as everyone else so no, their income isn't sacrosanct.
Existing beneficiaries will be fine. People like me are the ones who will be screwed. I am fine with that in a way in that I am preparing for that, but a lot of paycheck to paycheck workers are going to be in a bad place one day.
Exactly how does THAT work?! By law, the T.F. is the T.F. and invested in non-negotiable Treasury securities. WHAT are you talking about?
Why? So that we can protect the elderly from having to live in cardboard boxes and eat cats and garbage. The rich have funneled nearly all the income gains to themselves for 30 years. It won't hurt them a bit to give some back.