If You Are A Baby Boomer - the real reason YOU SHOULD BE FURIOUS over CPI cuts:

[customerserviceguy]

156. There are a number of problems

I contend that baby boomer reproduction rates were part of it, and I certainly acknowledge that when you replace union-wage jobs with McJobs that pay near-minimum wages you get less money to tax. The balance I refer to is Social Security taking in as much (or more) than it's paying out in benefits. That balance was pretty solid for decades, only a few times did the Trust Fund have to be dipped into to make good on benefits. There was enough slack in it to get us through fairly brief recessionary periods, then good paying jobs came back and restored balance.

Imagine your own finances with a savings account, and a sudden drop in income. Say you became part-time, or your employer cut wages, etc. You could maintain your style of living by making up the difference from your savings account, and if the part-time thing is temporary, or you get another better paying job, yes, you'll be fine. But what if those things never pan out for you? At some point, you're going to run out of savings.

As I've said on other posts, raise the cap carefully. Create a new tier of payback for that raise, don't let the rich pay unlimited FICA for a few years, then collect tens of thousands in benefits a month just because they managed to pay high amounts for a bit of time. As the maximum benefit is tied to the wage base one pays on, it needs to be adjusted carefully. Make it so there is NO cap on the employer's side of FICA.

There are a number of tweaks we need to do, I don't throw any of them out.