The trust fund was set up to deal with the abnormally large boomer generation. It wasn’t expected to hang around much beyond them. Then the program goes back to being an intergenerational transfer program. We should definitely lift the cap, and I’d like the actuaries to calculate how much more Social Security would have if the lowest wage workers had been earning more the last 40+ years.
Exactly! The minimum wage is way too minimum. How will they survive after they retire? It’s ok for the wealthy politicians to cancel it because they’re already wealthy. Increasing the minimum wage won’t be popular with Republicans, but it will be necessary after Trump completely trashes the world economy with his tariff frenzy.
The capitulation for SS tax needs to be raised. The majority of Americans fall below the current cap. The rich need to be paying their share of the load.
The trust fund was set up to deal with the abnormally large boomer generation. It wasn’t expected to hang around much beyond them. Then the program goes back to being an intergenerational transfer program. We should definitely lift the cap, and I’d like the actuaries to calculate how much more Social Security would have if the lowest wage workers had been earning more the last 40+ years.
Exactly. Most of their income probably goes on food, petrol and housing.
Exactly! The minimum wage is way too minimum. How will they survive after they retire? It’s ok for the wealthy politicians to cancel it because they’re already wealthy. Increasing the minimum wage won’t be popular with Republicans, but it will be necessary after Trump completely trashes the world economy with his tariff frenzy.
Love from Australia
It’s not just that the minimum wage is too low but the contributions to the fund from minimum wage workers have been too low for decades.
The capitulation for SS tax needs to be raised. The majority of Americans fall below the current cap. The rich need to be paying their share of the load.
Oh boy🥺