Americans’ Social Security benefits will have to be cut by roughly a quarter in six years due to depleted funds, according to a June 9 report from the Social Security Board of Trustees. That’s months sooner than the group had estimated in 2025.
  • cheese_greater@lemmy.world
    44·
    2 days ago

    To earn more money, Congress could raise taxes, increase Social Security’s maximum taxable income or implement taxes on income not coming from wages.

    Currently, income from wages above $184,500 or income not from wages, such as investments, [cannot be taxed](https://www.ssa.gov/oact/cola/cbb.html) for Social Security.

    Fucking very obvious what was done to create this bullshit issue, same as USPS being required to front-load their pension obligations which basically nobody else has to do.

    Fucking conservative assholes and all their cross-aisle partners in crime, all while demanding regular index-adjusted raises and having the Speaker bitch for them that they should be able to do an arbitrary amount of insider trading to supplement their existing unrepresentative compensation package tgat also includes top of the line health insurance.

  • Janx@piefed.socialEnglish
    371·
    2 days ago

    Workers gets taxed on every cent they earn. Billionaires get to earn money on investments tax-free while they buy up all the housing and rent it back to us for even more wealth they will then hoard…

    • MinnesotaGoddam@lemmy.worldEnglish
      4·
      2 days ago

      Not just billionaires. Hundred-thousandaires get to stop paying in after… I didn’t look at the limit this year.

  • PattyMcB@lemmy.world
    91·
    2 days ago

    I already knew I was never going to be able to retire. The boomers got theirs so they don’t care.

  • Serinus@lemmy.world
    6·
    2 days ago

    I thought we just fixed part of this by getting rid of the tax cap above 184k? Or was that part of the hugely popular, bipartisan housing bill that Trump refuses to pass until her gets his way?

    • jtrek@startrek.website
      11·
      2 days ago

      The fact that rich people stop paying into it is so stupid.

      It should be progressive. The first $x you make aren’t taxed at all, then the next bucket at a small percent, then a larger percent, and so on.

      Instead if you’re income-rich you just get a bump to your take home pay partway through the year.

      • HubertManne@piefed.socialEnglish
        5·
        2 days ago

        seriously. we are supposed to have a progressive tax systems but things like this actually lower taxes and its keyed to happen just past the point anyone working would be effected. So usually tacked to just above what like a doctor makes.