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Old 06-14-2015, 10:29 AM   #41
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CaliforniaMan's Avatar
Join Date: Dec 2013
Location: San Diego
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Originally Posted by Fermion View Post
SS will be there. It is already means tested via tax on benefits. Politicians will panic in or around the year 2021 and remove the cap on income subject to SS and raise the % of benefits taxed for high income pensioners and maybe middle income pensioners.
There are a lot of options for fixing SS, a good summary here:
The Future of Social Security: 12 Proposals You Should Know About - AARP

But there is no incentive for Congress to do anything now. It is much too early. They will probably choose a package of changes that is the least painful to the majority of voters, but not now. The reason is that whatever is done will be at least a little painful for someone. And their political opponents will use that in elections against them. Hence there is simply no incentive for politicians to change SS now. Later, when it becomes apparent that they will incur greater voter wrath from letting SS fail, than from fixing it, then they will fix it. Everybody understand what must be done, and that it cannot be done now, simply for political expedience. This is why I stated earlier that I don't worry about SS. It will be fixed, the changes will be reasonable (they did it in the past) but it simply can't be done yet.

Merrily, merrily, merrily, merrily,
Life is but a dream.
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