Social Security benefits could soon be cut by 22%

[Yo_Mama_Been_Loggin]

The Social Security program is on track to become insolvent by the end of 2032, a shift that would trigger an automatic 22 percent reduction in monthly checks for beneficiaries, according to the latest trustees report.

The new projection moves the timeline up slightly from last year’s report, which estimated that the Old-Age and Survivors Insurance fund would run out in 2033, as reported by CBS News. The Social Security Administration attributed the revised timeline to the fiscal impact of the One Big Beautiful Bill Act on benefit taxation.

If Congress fails to intervene before the trust funds are depleted, the agency stated it would only have sufficient revenue to cover 78 percent of scheduled benefits.

The shortfall stems from long-term demographic shifts in the United States. An aging population has resulted in a rising number of beneficiaries drawing from the system, paired with a declining ratio of active workers contributing through payroll taxes.

https://www.msn.com/en-us/money/personalfinance/social-security-benefits-could-soon-be-cut-by-22/ar-AA25cSf4

But what about the poor billionaires?

[CoopersDad]

1. It's as if nobody saw this coming....

Leaders deemed too "radical" to be elected have been telling us this for years.

It's time we elect the very best radical progressive democrats and draw the line and save our social programs, all of them.

FUCK.

[SergeStorms]

28. The "third rail".....

that republicans wanted so dearly to hand over to Wall Sreet, but were stopped by Democrats and even their own constituents.

Who knew?

[CousinIT]

2. It will NOT be "insolvent". It will have a shortfall. And THAT....

....is a result of TWO THINGS:

- Billionaires not paying their fair share into the system for decades (RAISE OR REMOVE THE DAMN CAP)
and
- Trump's removal of IMMIGRANTS and citizens who pay BILLIONS into Social Security, Medicare, and Medicaid, but most of whom do not get benefits out because they are not eligible (regardless of what the fraud-screaming Republicans say).

So BOTH of these things are sucking money out of all these programs. ONE of them is the result of the BBB and Trump's immigration policies.

The OTHER is something that SHOULD have been dealt with a LONG time ago when Democrats were in power and had the chance - but now it's too late.

Both parties to blame? YEP. One for what they DID and the other for what they DIDN'T do.

[SunSeeker]

22. The shortfall could be avoided if we just got rid of the damn cap!!!

[CousinIT]

42. That would be forcing the wealthier to pay their fair share....

...one thing that will be absolutely necessary and likely one thing REPUGNANTS will not want to do.

[Igel]

33. It will be insolvent.

It can mean bankrupt, if you're unable to discharge or meet all debts and that might lead to liquidation but it's not the same thing.

In the case of Social Security, insolvent means it just won't be able to meet all debts and obligations.

1a : unable to pay debts as they fall due in the usual course of business
b: having liabilities in excess of a reasonable market value of assets held
2: insufficient to pay all debts

It's not like the program's going to just be liquidated to pay debts--that's not a risk. It just won't be able to pay out what it's obligated to.

[patphil]

3. There's a simple fix for this. Increase the top dollar amount of a person's income that is SS taxable to 500K.

It's at $184,500. now.

[EdmondDantes_]

15. Why raise it to that level and not just remove it entirely?

Is it that there's a point if we remove the cap entirely it would result in overly large payouts to the highest earners that would cost more than it gains?

[SunSeeker]

24. There should be no cap at all. Why do billionaires need the tax break?

[SocialDemocrat61]

4. Raise the salary cap!

[leftstreet]

5. They've been gaslighting us for years

There are many ways to make sure SS is not only solvent, but increased!

But they'd rather browbeat and manipulate us year after year into saying "well, SS won't be there for me..."

Fuck our privatizing overlords!

[maxsolomon]

6. Pitchforks and torches

If this comes to pass.

I think even Repukes will avoid a 22% cut to SS payments.

[gulliver]

7. This should be an issue this year.

Kind of grotesque politics that it's not. It's a peculiar situation. In the midterms, older voters vote at much higher rates. Yet, somehow, we don't seem to be pushing the strength of the Social Security issue, the strength of a hugely successful program we Democrats created.

I'll bet a lot of our leaders want to make it an issue. I actually question any that don't. Why?

[pat_k]

18. Last time Mike Johnson uttered "SS cuts" he backed right off because it is the third rail.

No more. He's fine with it

Now it fits in with "we can afford nothing except shovelling billions into the pockets of people who already have obscene wealth."

They are literally saying it:

No tax dollars for safety nets, no tax dollars for protection against disease and pests, no tax dollars for healthcare, no tax dollars for regulatory oversight and enforcement, no tax dollars for justice for financial crimes, no tax dollars for auditing the rich, no tax dollars anti-terrorism, no tax dollars for national security, no tax dollars for advancing science, no tax dollars for community development, no tax dollars for contending with climate change... and on and on.

All our tax dollars are good for two things: enriching the rich and abusing, denying access to courts, and deporting every non-white person they.can get away with.

I think they honestly believe they can so thoroughly corrupt our elections that they are just fine with pushing an agenda that 80% of the nation utterly rejects.

I think they are flat wrong.

Time will tell.

[La Coliniere]

8. Raise the Cap!

This slogan should be a rallying cry for all elected Democrats and for those on the campaign trail seeking office. It should be repeated loudly as often as possible and be a primary goal of the Democratic Party. Why this hasn’t happened yet is perplexing to say the least. What are they waiting for?

[pat_k]

17. Right wingnuts obstruct because they want to scream "unsustainable" & "replace with private investment"

[Jbraybarten]

35. Yep. Every Dem. Every comment.

[MichMan]

36. Easier to just kick the can down the road.

Neither party will do anything until the 11th hour approaches

[bif]

9. But of course, we have trillions for an unnecessary war.

[pat_k]

16. And an army of thugs and private concentration camps.

[BlueWaveNeverEnd]

10. Kick

[LymphocyteLover]

11. The solution is to cut Republicans from our government by 100%

[pat_k]

12. The shortfall stems from Republican obstruction to increasing cap.

It also stems from obstruction of increases in legal immigration that would bolster the younger population.

It's not like the demographics suddenly "happened" and this is some f-ing unavoidable "surprise."

[Jacson6]

13. Just raise the FICA taxes by 1% and increase the FICA tax cap by 10%.

[Sogo]

14. Should become a major campaign issue for the Democrats.

We will address and fix the impending SS shortfall ! They will just let it fall !

[Old Crank]

19. Time, actually past time, to blast your representatives

about this issue. Even people with GOP reps and senators.
Hound them

[Lonestarblue]

20. The cap should definitely be raised, but we also need changes in our tax laws.

The wealthy have armies if accountants and many loopholes given by Republicans to help them avoid taxes. As just one example, billionaire Bezos does not take a salary, and thus he does not pay income taxes, SS taxes, or Medicare taxes. He borrows from his company to pay living expenses. How many other multimillionaires and billionaires do the same?

In addition, only income is subject to the SS and Medicare taxes. Many of the wealthy live on dividends that are also not subject to payroll taxes. We could improve the fairness of our tax code by simplifying it and taxing more sources of income.

[Fil1957]

21. This is one of many problems we face in the coming years. However, this has to be one of easiest to fix -- just raise

the cap. But it takes political will power to do that.

[fujiyamasan]

23. Sounds like Al Gore was onto something there

[City Lights]

25. I'm old enough to remember Republicans making fun of Gore

for wanting to put SS in a lockbox. They hounded him endlessly. Dubya was declared the winner and the stealing of our money ensued.

[pecosbob]

26. As a SS recipient I hate this...as a Democratic voter I say let's make this a mid-term issue!

[Sector 001]

27. The majority of Trump supporters I personally

The majority of Trump supporters I personally know are not on Social Security benefits, they are all Receiving a disability check. Most of them never had a job for enough years to be eligible for Social Security.

[Festivito]

29. Vote to lower taxes so we won't need to lower SS. Believe!

Anything.

It's what people do.

[tmars505]

30. changing times

but.....but......
What about Hunter's laptop?

[wcmagumba]

31. I live on SS retirement and if this happens I may be living in my car...damn...

[Kaleva]

38. It was too hard to try and make it on SS alone so I'm working part time

$1400 plus isn’t enough.

[MichMan]

32. Social Security Fairness Act signed in Jan 2025 didn't help either

[Igel]

34. Demographics helps.

But everything done in the last 40 years to increase who's eligible for what disbursements has contributed to it.

That includes allowing "double dipping," increasing the ability of partners to tap spouse's benefits, increasing benefits to disabled people or to children. Anything that increased expenses without increasing income helped to get us to this state, but politicians frequently like to do exactly that.

Inflation is a mixed bag, but since the stipulated Trust Fund interest rate was less than the inflation-driven increases in benefits, that also helped depreciate those assets. Inflation may increase contributions when payout's on the low side, but with increased number of people receiving payouts the expenses outpace the increased revenue.

[yellow dahlia]

37. Raise the Cap!

[orangecrush]

39. Will deal with it when it happens

If I'm still alive.

I got their 22% swinging.

[JCMach1]

40. Raise the cap and then also the rate on the wealthiest

Keep the rise for high wealth individuals as a sliding solvency tax with a yearly adjustment built in.

[Captain Zero]

41. Simple: SCRAP THE CAP.

Problem solved.

The sooner the cap is scrapped, the sooner the problem is solved.

[dalton99a]

43. Kick

[MineralMan]

44. Vote ONLY for Democrats!

There is the solution.