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Veteran Advisor

Low Birthrate - Funding SS?

Saw a story about the low US birthrate.

 

Who is going to fund social security?  I'll be OK, it will last my lifetime.  But you younger people better get some more workers on the way if you want your social security to be funded.

 

 

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9 Replies
Veteran Advisor

Re: Low Birthrate - Funding SS?

Jim, the key is in the second sentence,-More Workers.  Makes me curious, how much of the present birthrate is makers vs takers?

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Honored Advisor

Re: Low Birthrate - Funding SS?

Isn`t there a record number of full time workers? Record low un-employment, record revenue receipts, record GDP.   IMO, social security will be here so long as there`s a "here".  Automation might make a 20hr work week normal and wipe out entire jobs, but then there`s "robot tax" and have no limits to SS tax charged on one`s personal income.

 

https://www.statista.com/statistics/192356/number-of-full-time-employees-in-the-usa-since-1990/

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Veteran Advisor

Re: Low Birthrate - Funding SS?

Does the birthrate or number of people working/paying really matter that much?

As long as the feds can borrow money it will be there.

 

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Veteran Advisor

Re: Low Birthrate - Funding SS?

My experience watching my German parents-in-law situation in Germany in the late 1900's is that when the federal benefits are financially unsustainable, the nibbling begins.

 

Retirement pay is taxed

Co-pays are increased

Fringe or minor benefits are dropped

Cost-of-living adjustments are whittled away.

 

You get nibbled to death.

 

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Honored Advisor

Re: Low Birthrate - Funding SS?

Death solves it as well,

The future of ss subject cannot be addressed without addressing immigration.

Minority politics and fed borrowing pretty much stop any constructive change in social security. Or anything else for that matter.
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Veteran Advisor

Re: Low Birthrate - Funding SS?

I might be wrong - packing plant employees pay S S  on their earnings regardless the citizen ship - - -

 

End the  $$$$  max  on  $128,000.oo earnings  cap  -  how could any wage earner afford more than $7680. oo  after   $129,000. oo   or  a $229,000. oo  salary  , knowing  the monthly  benefit payment from S S  would be  $2788. oo  ?  ?

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Honored Advisor

Re: Low Birthrate - Funding SS?

do you want the truth or what we tell ourselves????  Smiley Happy

 

Just a few days ago the biggest car load of illegal stuf ever seized in my adopted town.  Was not drugs or money being laundered ---our two most common....

 

Illegal documents ...... a car load going north ........ at a greater worth per pound that drugs going to Chicago.

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Veteran Advisor

Re: Low Birthrate - Funding SS?

SUPPLY   &   DEMAND  -  UN rocket science -while the  FICA   withholding  goes  to State  &  Fed , although  the strain locally is barely mentioned ---  

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Veteran Advisor

Re: Low Birthrate - Funding SS?

WSJ story says SS will be dipping into the reserve fund in 2034, a year earlier than planned.

 

Hey!  Some of us may be alive in 2034.  Of course, we may be broke.

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