Correct - Social Security is a self-funding program, unlike welfare payments. Its looming insolvency is due mostly to people living longer and changing demographics - more people drawing benefits and fewer workers paying in.
Correct - Social Security is a self-funding program, unlike welfare payments. Its looming insolvency is due mostly to people living longer and changing demographics - more people drawing benefits and fewer workers paying in.
No that’s not entirely correct. Non contributing people are taking the money intended for contributions made by workers. They’ve divided up SS to a lot more programs that don’t involve worker contributions.
…and the fact that benefits are going up with average wages, rather than simply with CPI. Change this one thing and you address almost 80% of the funding gap right there.
Correct - Social Security is a self-funding program, unlike welfare payments. Its looming insolvency is due mostly to people living longer and changing demographics - more people drawing benefits and fewer workers paying in.
No that’s not entirely correct. Non contributing people are taking the money intended for contributions made by workers. They’ve divided up SS to a lot more programs that don’t involve worker contributions.
…and the fact that benefits are going up with average wages, rather than simply with CPI. Change this one thing and you address almost 80% of the funding gap right there.