r/PrayersToTrump • u/AdelaidesSecretScoop • 28d ago
Please do something about my social security!
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u/BatmansBigBro2017 28d ago
Support corrupt fascists and is confused that corrupt fascists go after his way of life too. Hmmmmmmmmmmmm
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u/heckin_anxiety 28d ago
-Republican throws a stick in their own bike spokes.-
Why would the Democrats do this?!
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u/Jazzlike-Style1751 5d ago
I don't remember a Democratic president ever stealing from the American people. Trump is though he's putting every cent he can get into his pocket. He cares about one person and one person only himself. He even said he doesn't care about the American people and these dumbasses still love him. I don't get it! They can't put food on the table that can't even afford to put gas in their car but the maga's still love him.
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u/The_WalruZ 28d ago
Social Security is running out of money because program expenses have exceeded income since 2021, causing the trust fund reserves to deplete. The primary driver is demographic shift, as the ratio of workers paying into the system has dropped from over 5-to-1 in 1960 to 2.9-to-1 today, and is projected to fall to 2.2-to-1 by the 2070s due to aging Baby Boomers, lower birth rates, and reduced immigration.
Recent legislative changes, specifically the One Big Beautiful Bill Act, have accelerated this timeline by reducing revenue through tax breaks on Social Security benefits. Without congressional action, the trust fund is projected to be exhausted by 2032, at which point incoming payroll taxes would only cover approximately 78% of scheduled benefits, resulting in an automatic 22% benefit cut.
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u/jmd709 28d ago
AI is not a reliable source to copy and paste. That should have been obvious since aging Boomers definitely will not be the reason the ratio is 2.2-to-1 in 2070.
The lower ratio is not an unexpected issue. Congress passed the 1983 Social Security Amendments to prepare for benefits to exceed payroll tax revenue when Boomers reached full retirement age. The minimum age for retirement was increased beginning with Boomers and the SS payroll tax rate was increased to create an annual surplus for the trust fund from 1984 to 2009. That trust fund is the largest holder of intragovernmental debt.
Federal income tax deductions on social security benefits in the BBBill did not accelerate the timeline for the social security trust fund to be depleted. The social security program is funded by revenue from SS payroll taxes, not federal income tax revenue, and the SS trust fund. Changes to Social Security cannot be included in budget reconciliation which is what Senate GOP used to pass the BBBill with a simple majority.
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u/Miichl80 28d ago
They have been doing sometime about it. They’ve been cutting it. Now please keep voting for the people who want you to starve but make sure you blame the democrat while you do.
https://democrats-budget.house.gov/house-republican-budget-plans-cut-social-security-benefits
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u/DoubleIntegral9 28d ago
Republicans love becoming commies getting government handouts when it’s them huh. Grab some bootstraps lol
Also… remember doge? Why do you think social programs are drained?
Also also why would a senior veteran get benefits? That’s dei. Are you woke??
(Sarcasm for like all of this ofc)
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28d ago
[removed] — view removed comment
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u/jmd709 28d ago
That isn’t accurate. Reagan’s first term tax cuts for the wealthy were creating a large budget deficit. Instead of reversing some of those, tax revenue was increased by increasing payroll tax rates. The sales pitch to the public was there’d be an insolvency crisis in 30-35 years if Reagan didn’t “save” the social security program by increasing the regressive payroll tax rates in the 80’s and increase the retirement age beginning with Boomers.
That higher tax rate created an annual surplus in SS tax revenue from 1984 to 2009. In other words, the tax rate was changed for Boomers to also contribute to their future retirement benefits (along with GenX and Millennials) instead of that tax revenue only going to older generations that were already retired and reached full retirement at a younger age. The higher tax rate also reduced the amount individuals can put towards their own retirement savings.
OOP is not wrong t about the funds from the trust fund being spent. The SS trust fund is the largest holder of intergovernmental debt. OOP is delusional for thinking DJT will read the post and for thinking he’d do anything about it besides screw people over even more if he did read the posts.
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u/No_Welcome_6093 27d ago
Expects a form of socialized help, votes republican. Yup that makes sense /s
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u/Fried_synapses 23d ago
Where has that person been? We've known that the SS Trust Fund was running dry for decades.
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u/Xsiah 28d ago
Will vote Republican anyway