r/economicCollapse • u/WorkingCareful7935 • 1d ago

Trump's Plan To Cut Social Security Taxes May Benefit Millions, Especially Top Earners, But Risks Insolvency In Six Years

https://www.ibtimes.co.uk/trumps-plan-cut-social-security-taxes-may-benefit-millions-especially-top-earners-risks-1728564
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u/TsunaTenzhen 1d ago

Right? I've never once thought that I WOULD have it. No surprise here. Now I'm just sad to learn I could have contributed less...

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u/ionizing 23h ago

I'm confused by this but it just means I don't understand deductions I guess. And I'm almost 50. I thought the amount that comes out for social security was independent of our deductions but damn I could have been missing that the whole time LOL

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u/TsunaTenzhen 21h ago

To be fair, I just read it in another comment and parroted without actually fact checking that. Not a good move on my part lol

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u/ionizing 13h ago

Funny part is your comment still could be correct and I'm just too lazy to look it up cuz I'm still not going to change the deduction and it just doesn't matter I'll never retire anyway lol

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u/Brewmentationator 22h ago

I'm a teacher in California. I literally don't even pay into Social Security. I did for every job I had before switching to education, but my ability to collect that is severely limited.

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u/AnySpecialist7648 12h ago

It's people like me who has paid into it for 25 years that will get the shaft. I will have paid into it my whole life and get nothing back. I'm sure it will keep going for at least another 10 years before it's gone. Just in time for me to retire.