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<blockquote data-quote="dudebro" data-source="post: 5487305" data-attributes="member: 11234"><p>"There" is a relative term. There's 3 trillion dollars "there", but the benefits paid out would run out in two and a half years with no income. So the rest of social security is basically a legal ponzi scheme where the people paying in fund the people receiving benefits, so currently, the reserve will run out in 2034. You'd still have income going in, that doesn't mean benefits go to zero.</p><p></p><p>A dramatic decrease in income makes the shortfall a bigger problem. There are things you can do. one is - cut benefits in half. problem solved. Others involve raising retirement age, tax rate, or the cap where social security taxes stop coming out of income. The other side of the equation is to increase the number of people paying in through taxes. That's why the southern border is open, whether anyone admits that or not.</p></blockquote><p></p>
[QUOTE="dudebro, post: 5487305, member: 11234"] "There" is a relative term. There's 3 trillion dollars "there", but the benefits paid out would run out in two and a half years with no income. So the rest of social security is basically a legal ponzi scheme where the people paying in fund the people receiving benefits, so currently, the reserve will run out in 2034. You'd still have income going in, that doesn't mean benefits go to zero. A dramatic decrease in income makes the shortfall a bigger problem. There are things you can do. one is - cut benefits in half. problem solved. Others involve raising retirement age, tax rate, or the cap where social security taxes stop coming out of income. The other side of the equation is to increase the number of people paying in through taxes. That's why the southern border is open, whether anyone admits that or not. [/QUOTE]
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