07-04-2025, 08:27 PM
(This post was last modified: 07-04-2025, 08:30 PM by ThePosterFormallyKnownasbfd.)
(07-04-2025, 08:02 PM)special Wrote: Besides this being political, isn't this good news for those receiving SS benefits?
I am still 10+ years away from collecting SS so a lot of this does not matter to me (yet). I don't even know if SS will be there when I retire. I will be really pissed if I paid 30+ years into SS and I get the middle finger.
It's really not. In order to pay for the 3 years of "Senior Bonus", the SS fund gets cut into even more than before. The goal is to end all of these "entitlements". What's behind the window dressing of these 'increased benefits' will be gone before they do anyone much good.
Social Security became the pension of choice for too many people. Only the already wealthy stand to gain from any of this. They don't need Social Security to begin with, but they're still getting it. They won't feel a cut to their benefits - even though they'll be mad that they paid into the fund and won't get what they feel like they deserve. They already have plenty of other wealth to fall back on. The real losers are the lowest 1/3 of earners in the population - and they can hardly afford any cuts. So they better save up the few thousand they'll see over the next three years. After that, all bets are off, and so are the guardrails.
Statistics suggest there will be increasingly more old, poor, and unhealthy/infirm people over the next 20 years. Gotta cull the herd if they're going to keep the top 10% from having to pay for all of them. This is how it starts.