Last edited Sun Jun 16, 2024, 11:48 AM - Edit history (1)
Their plan is to get gain interest on the money through bonds, instead of just sitting there
That's the SS Trust Fund that keeps getting mentioned.
If more SS $$$'s come in than go out, then the excess goes into the trust fund.
If more SS $$$'s go out than comes in, then the SSA sells bonds to cover the excess going out.
When you hear that SS is going bankrupt, it's the Trust Fund they are talking about.
This is by design. The Trust fund is supposed to dry up about ~2033.
If nothing is done to increase SS deposits, by that year, then Social Security will only pay out about 75% of the current monthly payment.
Increasing SS withholdings salaries up to $400K would keep monthly payments at 100%
If SS withholds salaries up to $2M, monthly payments could easily double from current monthly payments.
With Billions in the Trust Fund, that's what the wealthy want to get their grubby little hands on, before it's all gone.
They don't care about the money coming in, because their plan is to stop SS altogether, so no one will be paying into it anyway.
But that Trust Fund is just sitting there and they are just trying to literally rob the bank.
= new reply since forum marked as read