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Originally Posted by KMA-628
The problem here is not cutting SS, but how much of each of our paychecks goes to the fund. Right now, I believe we are sitting at 15% with a 50/50 split.
That amount isn't going to be able to stand for much longer.
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Agreed. But to most of us SS taxes are about the same as income taxes. They can reduce SS taxes and raise other taxes to make up the difference. I see no need for us to keep thinking of SS as a separate fund when it isn't. Just another government outlay. They should probably just eliminate the separate SS tax. At least that would reflect the way the system really is. It never was a separate fund. They could still base the benefits on wages earned over your lifetime.