Bipartisan group of senators introduces legislation to avert looming Social Security shortfall
The Protecting Retirement Opportunities and Maintaining Income Security for Everyone, or PROMISE Act, comes on the heels of the latest Social Security Board of Trustees’ annual report, which found that Social Security’s retirement trust fund is projected to face a funding shortfall in 2032, a year earlier than last year’s projections.
Even with it being clear for years that Social Security was running out of money, Congress has been loath to act. Making changes to the program — and potentially cutting benefits — has long been politically unpopular, and lawmakers have repeatedly kicked Social Security and Medicare’s troubling math to the next generation.
It’s not a bill with any real proposals or solutions. It’s just a bill saying Congress should establish an “independent, bipartisan advisory committee” that would make recommendations to Congress to look into utterly predictable social security shortfalls, which will go the way it always goes (most recently, back in 2024), where Democrats suggest raising the payroll tax cap, Republicans suggest raising the retirement age, lobbyists ruin everything, and social security still faces budget shortfalls in 6 years.
https://apnews.com/article/social-security-legislation-insolvency-a53abd2cb93f4bd3c9f568f532af8b2eOpen linkView original on lemmy.world
19 replies
250% tax on private jet fuel oughta cover it.
Hell, a death tax on assets over $10 million would probably cover it.
As much as I love the idea, I'm sure their accountants would find a way around it. That's largely what trust funds are for today.
There's no good reason for trust funds that benefit particular named individuals to exist at all.
The real pros set up foundations. I don't know if much has changed since the publication of The Rich and the Super-Rich, other than the fact that we now have many more centi-millionaires, billionaires, centi-billionaires, and briefly one trillionaire.
Taking a chunk of the military's budget ought to do it...
They're literally pissing away the solution we need on a needless war with Iran
I think that's not accurate. They're doing it with bombs.
1.1 trillion for bombs
$0 for something we’ve been planning our wholes lives around depending on
Yeah totally our fault, stupid taxpayer suckers
My favorite part of this is that people literally do blame a portion of the taxpayers when they blather on about how it is a Ponzi scheme and complaining about "boomers" collecting on a lifetime of work, etc...
I have a solution. Well several actually…
I bet there are congressional staffers whose only job is to come up with clever, marketable acronyms for bills
These days it's probably an AI :/
Lift the cap. No cuts. Tax billionaires until there are no longer billionaires.
Stop wasting all your money on
avocado toastfucking bombing countries and covering rich assholesThat measure would have strong bipartisan opposition.
Ugh, I hate how correct this is.
Isn't the solution obvious? You need more money, so increase the tax revenue. The easiest way is to end the limit on social security taxable income. Right now it's like $200,000. Any money above that isn't taxed by social security. So it's a totally regressive tax. Make it a flat tax, with all income taxed equally, or make it a progressive tax, with larger income taxed more.
Second most obvious solution: make dividends, capital gains, and unrealized capital gains taxable by social security.
Well the important thing is that we keep giving money to Israel and spending trillions to bomb the shit out of Arab countries. At least we have our priorities straight. Maybe those pensioner's should stop having so much avocado toast.
Lots are saying to take from the DoD, but y'all're missin the point! More funding to an unchecked DoD means more citizens that see the DoD as a way to have a stable life, more servicembers means more people that can't sue the government when they get put in harms way for living in condemned living quarters, are made to man the burn pits, or get used to test new bio weapons; then we can enshittify the VA and cause mental anguish to these "suckers and losers" so they'll sing karaoke into Kurt's last microphone.
Dead veterans don't need benefits.
So you see, its all 4D chess to get less people even on social security to boost social security's ability to be funneled into the stonks! So more wars it is!