How the Super Rich Are Killing Social Security | Robert Reich

[@mr2010GM]

The problem is American voters elect in office politician that make laws against their own interest.

[@fritzforsthoefel8031]

The rich pay almost all the federal taxes and get next to nothing in return the middle class draw more ss and medicare than they pay in taxes and the poor get subsidized housing food assistance cash assistance and free healthcare meanwhile we have a debt so big it defies belief our children will have to pay for because you won't pay enough taxes for democrat handouts why is that

[@fritzforsthoefel8031]

You think it's ok to live off our childrens future earnings vote Democrat if you think we shouldn't vote differently

[@WeekiWacheeMax]

What he isn't telling you is that increasing the SS taxes on the wealthy wouldn't be paid back to them in the same way it is paid back to those of us who contribute who are not wealthy. There's a limit to how much one can get from SS. The most retirement income one can get is about $3,600 to $3,800a month at 67, no matter if you were taxed for SS at $1,000,000 a month for 40 years paying in . He just wants the wealthy taxed for benefits they pay for but wouldn't receive. In other words, if one paid into SS 480 million they still could only collect $3,600 to $3,800 a month. This guy's analysis can't ever be trusted.

[@brorpaulhjelm6187]

@@fritzforsthoefel8031 when Trump was the President for one four year term and had a Republican controlled Congress they ran up over 8 Trillion Dollars in Debt 25 percent of the National Debt they gave out huge tax cuts to the wealthiest 1 Percenters a vote for the Republicans is a vote against American Freedom and Democracy almost the entire National has been run up since Reagan the ANTICHRIST became president with most of that deficit spending happening with a Republican in the White House and Republican Majority in Congress

[@brianandrews7099]

@@fritzforsthoefel8031so your prepared to fund your retirement 100 percent on your own? Better recheck those online retirement calculators you’ve been using because the amounts they say you need to retire are calculating based on assumed social security and medicare benefits, too. Remove them and you need to start pumping in a ton more money into your retirement account. Guess there goes your new cars and vacations from now on! For most Americans, they already cannot fund their retirements plus send their kids to college, so your already not “costing your kids their future”; they are already going to end up on their own taking out huge student loans if they want more education beyond high school. The whole system has been designed to keep them in debt from the day they graduate from high school to the day they die. Big industry wants no part of creating an educated or motivated workforce but it is happy to bitch and blame that they cannot find intelligent employees and continue to treat employees like shit because, well they already have theirs and the people under them can just go to hell! You think Trump is the answer? Good luck with that! If you are not filthy rich, you and your kids are screwed! It really doesn’t matter who you vote for, the whole plan is already bought and paid for and deep underway. They wanted it, they like it, they don’t care what you think. The Republicans just want to drop the pretentiousness that we aren’t already living in fascism; that way, they can move forward in expanding it! Sieg Heil Trump!

[@endarior]

That cap is wild. I don't know any other countries with social security-like policies and tax caps for the very wealthy. Madness

[@johnmartin4641]

Scrapping the cap is not legal. Social security was justified to the courts by promising people would get the money they pay in social security taxes back when they retire, therefore you can’t make people pay way more money into it than they will ever get back.

[@brorpaulhjelm6187]

@@johnmartin4641 do you have a different solution to prevent millions of elderly seniors from becoming homeless on the streets of America how about we just make the government themselves pay back the more than 3TRILLION dollars that three Republican Presidents and CONGRESS stole from the SOCIAL SECURITY TRUST FUNDS tax the wealthy for that give back all the massive tax cuts that benefited the Mega wealthy

[@DonaldMains]

Have you heard of a country called Canada? It's a small country to the north of the US. Canada limits taxes to the first 65k (CDN) of earnings in the Canada Pension Plan.

[@ElRipper100]

the problem is that Congress doesnt know how to use their collected taxes wisely!!!!!!!! Look at the Democrats: the love to raise taxes and spend money on all kinds of shit. Biden is ruiniing our economy RIGHT NOW! Blaming people who make money is stupid!!!!!!! They dont owe anyone anything!

[@darrennew8211]

Part of it is that the super-rich don't make much income. It's trivially easy to avoid most income taxes when you have unlimited credit because you own billions of dollars of wealth. Also, don't "borrow" from social security funds and replace it with promises to raise taxes in the future. However, I'm not sure what "their fair share" of the SSI payments should be. If you're removing the caps on the taxes and not removing the caps on the benefits, that hardly sounds like "your fair share." Don't act like the wealthy people are doing something wrong. Just say you want their money.

[@That1powergamer]

The only problem is it will never pass. Congress represents the rich now, not us.

[@My2CentsYall]

They stacked the supreme court as well. I'm going to say it The republicans court justices all have billionaire friends.

[@benjaminlehman3221]

Yes! They make 174,000 per year so they will be increasing taxes on themselves.

[@rmdodsonbills]

@@benjaminlehman3221 It wouldn't surprise me at all if Congressional salaries were exempt from the tax altogether, but I really don't know one way or the other.

[@brotherlonewolf4182]

Dear Reader: Do you fear plans by Republican fascists to cut Social Security and Disability, to put the homeless population in concentration camps, to end our right to read what we like and to protest and even vote? Are you convinced that Donald Trump bought the electoral votes he needed in 2016? Do you wish that there were something you could do about all this? If you answered yes to any or all of these questions, then read on. This is the letter for you. This is a chain letter. Please make 12 copies and send them to 12 different people, before it's too late. The time is now to spread the word by any and all means possible. Let's spread the word to vote blue, to vote all of the GOP fascists out of office. Let's spread the word to petition our representatives for a constitutional amendment to elect the president by popular vote so that another rich tyrant like Donald Trump doesn't buy any more electoral votes. Our freedom and democracy are at stake here. Get busy and do your civic duty now. A Concerned Citizen

[@markjayroe1709]

Vote blue don’t make me say it Dumb Asses!!!

[@Peterl4290]

After more than 54 years of employment and contributions to Social Security, I have no intention of delaying my benefits any longer. I might as well take the sure thing, so I'm getting it early. Right now, I'm all about making investments in the market and in myself. I've discovered over the years that wise financial decisions are the key to accumulating true wealth.

[@larrypaul-cw9nk]

It’s important to consult with a financial advisor before making any investment decisions.

[@sabastinenoah]

A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K

[@Jamaal67i]

@@sabastinenoah I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@sabastinenoah]

Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@Jamaal67i]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@terriem3922]

Another problem is: Working after age 50. 60. 70. I know people at Walmart who work in their 80s, but in general, it becomes more and more difficult to find work the older you get, even if you are perfectly capable of doing the work. Since you're not working when you're older, social security is not getting your income. I never minded paying my taxes. Except on my social security. It shouldn't be taxed. An idea from the rich. Their greed knows no bounds. I work in my late 60s so I can pay my medical insurance premiums and buy dentures and make necessary updates on my 50 year old mobile home. I would have died of sepsis from my rotting teeth if I had not gotten my job. Literally. Extractions are expensive. Walmart saved my life.

[@altrag]

> Since you're not working when you're older, social security is not getting your income That's.. kind of the point of social security. You pay into it during your career, and you get the money back out when you retire. The idea that wages would have been stifled so harshly for so long that people can't even contemplate retiring was not really on the radar back then. That's a whole new era of economic fuckery rooted in Reagan's policies but not actually realized until after he was out of office.

[@DonaldMains]

If you think this is a good video then why are you against Social Security being taxed? it helps keep the system solvent and only upper income pay any substantial tax on their Social Security. I don't understand your rationale.

[@SandfordSmythe]

@@DonaldMains Most people don't know the tax returns to SS, and it's a form of means testing to make the rich get less.

[@dealiaduncan4268]

@@DonaldMains my social security is taxed at the max 75% is w

[@dealiaduncan4268]

I pay on 1000. I'm at the lower end of middle class according to tax table and KY taxes have gone up 15% because we always pay the most on the least. I'm a widowed have no deductions ! 26% tax brax mg et

[@paulmakinson1965]

One of the hallmarks of a third world country is extreme wealth disparity.

[@MarkTubeG]

It's the hallmark of authoritarian regimes, regardless of x-world status. And this is what Trump and his despicable Party want for us.

[@cadebritt8001]

Aman.

[@richardjosephnovak]

The poorest in America are doing better than the vast majority of the worlds population. Please leave so you can be considered rich somewhere else.

[@WeekiWacheeMax]

Of the 127 million households in the US . . . . 24 million of them are millionaire households. Almost 1 out of 5. There's a lot of political talk claiming a lot of disparity of wealth in order to divide us but the reality is a lot of people are doing quite well.

[@MarkTubeG]

@@WeekiWacheeMax Please tell us more about your trickle down magic, Mr. Wizard. Give me a break. Let's take a leap and believe your statistics. That still leaves 80% of Americans not in the millionaire status. And you make no mention of the dire straights the vast majority of that vast majority is in. THAT'S the "disparity of wealth." And if you're trying to pretend "it's not that big a deal," or if you're just trying to justify in your selfish mind why you don't have to worry about most of the other people in this country, then, yah, you're just another despicable Republican, or worse, a demented Trump supporter. Which is it?

[@rockinrickyfan8164]

The saddest part of the whole situation is the unfair share workers pay from a salary they can't afford to live on.

[@Rustea314]

The employer pays both employee and employer share (you never see the 6.2 that you need to live on). It's one of the costs of doing business so that if a person lives long enough, they will be able to survive without affecting the rest of society. Raise the minimum wage to a living wage and let the market readjust.

[@skyisreallyhigh3333]

​@@Rustea314Maybe your employer pays your share, but the majority of us are seeing a peice if our paycheck being deducted for social security

[@sjwilson1079]

​@@skyisreallyhigh3333Then it is our responsibility to hold our representatives responsible for keeping social security solvent

[@nancysmith2389]

What's even sadder is that younger people will push YOU out of the workplace as you age. No one thinks it will happen to THEM. But it will. Unless you own your own business. If you have NO income or healthcare it will be a miserable existence if you can even exist. You think you can save money for your retirement? Well, that is much harder than it seems and emergencies happen to most people.

[@skyisreallyhigh3333]

@@nancysmith2389 Its not young people pushing you out. It's the for profit motive that's doing it

[@lyniearden4174]

I've been saying this for years. No surprise that no one in Congress ever mentions it. Greed beyond imagination.

[@ottokriete1153]

Really? Democrats have been saying this for the last few years, now. Actually kind of late to the game.

[@nickiemcnichols5397]

The cap was a horrible idea. Of course, it was the plan of the rich.

[@brucebasile5083]

I couldn't agree more.

[@zedwolf1589]

​@alvinsoehendrywijaya9893 Nope the rich right now are paying a lower tax rate than a person working at fast food, your libertarian views don't work in a decent society. Basically everything will crumble and if you want to choose a libertarian lifestyle you can move of the grid and live of the land because that's the only true libertarian lifestyle.

[@brucebasile5083]

@@zedwolf1589 Nicely said, my friend.

[@horstdraper4551]

A cap makes sense in the grand scheme of things. Whatever social security was originally designed to be (and I have my own research to do on that), currently it is essentially mandated retirement savings, so why pay more in when you're already at the maximum payout? Not a good investment by any measure. I struggled with this idea when I was thinking about how to fix social security myself, and my best solution included raising or eliminating the cap on the income taxed - seemed unfair to do that because some people would pay in and receive no benefit from the overage. I would also be in favor of investment income being subject to SS tax...or at the very least, eliminating the preferential income tax treatment of investment income. Why is the income that comes from work that someone does to build a bridge get taxed at a higher rate than the income gained by the person who bought the bond to fund that bridge? Also, "security" is in the name...meaning that no one who works for a substantial number of years is left impoverished after they can no longer work. If you retire with significant assets, say $25M (or any number you want to substitute), I would argue that you're already secure and don't need the payout. You put that money into the system during your working years just in case you need it, but you don't. Congrats, you won! I'm sure that a lot of the extremely wealthy aren't collecting anyway if their income was derived from stocks and other activities, so they didn't pay in all that much or at all, so wouldn't qualify. Again, I'm trying to look into that on my own. I will add that when I said mandated retirement savings earlier, it's also savings that we get no control over how it is invested, and to cut the benefit to 77% of what we were originally promised (or any cut, for that matter), is completely unacceptable. Raising the retirement age again is also not acceptable. But to say that because a cap on income subject to the tax is unfair is misleading, since there is also a cap on the payout.

[@jimroscovius]

The real problem was putting the money in the general budget.

[@MikeKonczal-cq1pu]

My wife died in 2010. At the time, we had a son starting high school and another starting college. I needed to spend more time at home, obviously. Frankly, while at work, all I could think of was our youngest. He took it very hard. If it weren't for her Soc. Sec. (she worked for 24 years) we would not have made it.

[@Novastar.SaberCombat]

Rich gotta rich. Poor gotta serve. 😓 Masters and slaves. It is what it is.

[@Muralisrinivasan-q3l]

Cap on social security cuts both ways If people with higher income pay more into social security They will also have to be paid more retirement benefits No easy solution

[@sensegirl27]

​@user-rl1rp3wz6m Thank you for pointing that out. What is the maximum Social Security benefit for high income earners? The maximum benefit is $3,627 for someone at full retirement age (FRA). The absolute maximum benefit that an individual can receive per month in 2023 is $4,555, and you must wait until age 70 to claim benefits and have been a high earner for 35 years to get this much.

[@TheLosamatic]

@@Muralisrinivasan-q3l sure there is all we have to do is eat the rich! LOL

[@TheLosamatic]

@@Muralisrinivasan-q3l sad thing is, I hear they are just full of shit!

[@wswanberg]

The solution may be obvious, but it is far from simple. Congress has known about this for decades, and yet still fails to pass any legislation to fix the problem.

[@david4096]

They being paid of by the rich .To keep us poor.

[@andreah6379]

Doesn't mean it can't or won't be done before 2033, either. Complacency and apathy from too many Americans let's their DC representatives off the hook. I hardly hear a steady chorus of commenters on YT saying "US needs to tax the F'g rich already." We have been heading towards this since Raygun changed the tax rates on the greediest rich. Where have the leftwing voters, Democratic voters been? Only since Obama have we been a united group & even started to vote like we should have since the 1980s!! But even that was irregular--if it's not a presidential year, leftwing voters still stayed home. The reichwing always votes. Not the left so much until just recently...only since we started to see our rights and democracy in danger. Again, that's been shrinking since Raygun! We have a lot of catching up to do and staying organized & involved with politics. Btw: Black Americans have to realize where their "heros" really stand on issues important to them like free higher education, universal health care, climate crisis, and Social Security & related programs. James Clyburn, for instance, is not working for any of that! Yet his popularity is at an all time high. WThell. Voting for conservative, moderate Democrats will keep up from any progress.

[@thesoundsmith]

Reaganomics became Newt-onian selfishness which led to Trump fascism. IT won't change. WE have to CHANGE it. Vote Blue, but be careful there, too. Billionaires corrupt. Corporations corrupt absolutely...

[@antihypocrisy8978]

Just blame China.

[@brorpaulhjelm6187]

Many Democrats have tried to move forward and fix the problem but the Republicans will not allow it they would let social security go broke and end it instead of increase taxes on the wealthy and big Corporations. The bigger problem is the more than 3 TRILLION DOLLARS that was looted from SOCIAL SECURITY TRUST FUND during three Republican administrations starting with the ANTICHRIST REAGAN just like the NATIONAL DEBT that they think they can just keep increasing AMERICA is actually bankrupt and this all happened so that the wealthiest among could become billionaires and MEGA millionaires America only has a future if we totally change our entire government and economic model and policies at all levels but just voting for the democrats is not enough we have to have a responsible change on how all of America is run at all levels

[@AnnaOllsson]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.

[@PennyBergeron-os4ch]

`This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.

[@HildaBennet]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@bartlyAD]

Mind if I ask you to recommend this particular manager?

[@HildaBennet]

Don't be hesitant to contact Rebecca Noblett Roberts and follow her directions.

[@HildaBennet]

Her name is REBECCA NOBLETT ROBERTS can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@JustMe-vk4fn]

The amounts of "private contractors" being used by corporations to avoid the 6.2% wage contribution an *Employer* would have to make for an actual *Employee* to the Social Security program is also a real problem.

[@Kilroy-was-here]

Nearly every realtor in this country is treated as a private contractor and is forced to pay up as if they were self employed. These loopholes really need to change.

[@JustMe-vk4fn]

@@Kilroy-was-here I didn't know that at all. Don't gig-economy workers face the same problem too? Sounds to me like the rule of law is slowly being eroded while our attention is drawn to "other" things.

[@Kilroy-was-here]

@@JustMe-vk4fn Correct...sad reality

[@tomfinn6579]

@@JustMe-vk4fnThe 6.2% still gets paid, it’s just paid by the worker, not the company.

[@JustMe-vk4fn]

@@tomfinn6579 But, as a "private contractor" doesn't that person have to pay not only their own 6.2% as a worker *plus* the 6.2% that their employer, (if they HAD an employer), would have to pay? :D Sure explains why employers who still *have* employees don't want to raise wages anytime soon...

[@ronkirk5099]

When I retired back 2012 and started collecting from my SS insurance, I decided to live modestly enough to save nearly a third of my monthly check in the event federal government ever has to reduce benefits or eliminate the COLA or otherwise suspend payments for some other reason. We must as a society enact policies to prevent so much of the country's wealth from being concentrated at the top or more and more instability will result as the population living in poverty expands. To have this happening in a wealthy country is disgraceful.

[@jackpleb2360]

Why didn't you save more a long time ago??

[@bobs182]

We need to reverse some of the tax breaks and subsidies given to wealthy people and their corporations by Reagan, H W Bush and Trump. Wealthy people now control all 3 branches of government plus all 6 of the largest news outlets.

[@WoodlandGangsta-fm7xy]

That's the republican agenda. Keeping you on the plantation and voiceless.

[@WoodlandGangsta-fm7xy]

​@@jackpleb2360How do you know he could have saved more money a long time ago. He may have recently paid his mortgage off which would free up more money to save. Just consider yourself blessed if you can save at an early age because most can't

[@davidschneider6306]

From the beginning this country was founded by the wealthy planter class and they made sure rules were in place to keep the class privileges. Consider moving to a more egalitarian society.

[@davidschneider6306]

The billionaire aristocracy has a stranglehold on our media, even the ones thought to be progressive. We have folks dependent on Social Security that support Republican initiative to gut it. We have union members who owe everything they have to their membership who believe the union is their enemy. Folks dependent on Medicare think the Republicans effort to reduce benefits is in their interest. We need a big voice to tell America the truth about how the economy here functions to keep them in penury.

[@glendavis1266]

Your right, dumb voters, millions of them. Unbelievable the uneducated. Like the assault on the Capitol. Hooliganism.

[@bbmw9029]

Just because people have toe play the game they've been dealt into doesn't mean they have to like and support the game.

[@patmcbride9853]

Lefty billionaires that don't want YOU to ever be really wealthy.

[@sandikennelly1357]

Sorry but you’re wrong. It’s not the Republicans that are ignoring Social Security going broke. The Republicans chastised Biden for his excessive spending while ignoring SS, Pensions and Medicare going broke.

[@ritamariekelley4077]

If every American citizen had your awareness, we could do it.

[@1ring2rule3pigs]

This is so angering. These politicians are supposed to be HELPING not HARMING ordinary citizens.

[@pdxmusl1510]

If they want to help you they'd abolish ss gracefully. This is a math statement. Not a political one. Math says ss is abysmal. Do the math. Take what ss has taken out of your check and mock invest it. I looked at all my past wages and did it. Assuming an average 8% return. I'd have over 2 million right now and im not remotely close to 50 yet. I'd be retired or financially independent. Ss is absolutely abysmal.

[@1ring2rule3pigs]

@pdxmusl1510 S.S. has worked for over 80 years just fine. Why do they want to get rid of it now? Easy. Do the math.

[@btcrazee1]

They help themselves and their rich friends. Nothing is more obvious than SCOTUS.

[@q45ij54q]

@@pdxmusl1510 SS is insurance, not an investment. It's the last bastion of the poor against starvation and homelessness. It's the most popular and effective government program ever created. Not everyone has the means or capability to invest, and fewer have the ability to delay gratification for forty years.

[@CarlosIowa]

Simple. Real Simple. 330 million Americans are playing The Game of Life. And 3 million are playing Monopoly. Guess which game Congress is making the rules? Got it?

[@wessager8659]

I just love how the super-rich take advantage of everything, including tax deductions, bailouts and stimulus, while whining like kicked dogs about giving anything back.

[@odettetenney409]

SPOT ON.... THAT'S THEIR AGENDA. BECOMING RICHER EVERYDAY !!!!!!

[@nickiemcnichols5397]

The only thing the rich understand is “more”.

[@brorpaulhjelm6187]

The wealthy will never have enough they do not share

[@brorpaulhjelm6187]

@@odettetenney409 EXACTLY!!!!! But it is out of control and the average American pays for this with ever rising inflation and lower standards of living for the working class and somehow the Capitalists think this is a sustainable way to run our economy and our government but they are wrong!!!!!

[@brorpaulhjelm6187]

EXACTLY !!!!!

[@sharko5300]

I worked for SSA for years. The cap has been there since its inception. But, as Mr Reich has pointed out, wealth has become so distorted in this country that it is damaging society in general.

[@Novastar.SaberCombat]

Of course. The rich need to keep the slaves in poverty and pit them against one another.

[@darrennew8211]

But wealthy people don't have a lot of income. They have a lot of wealth, and a lot of credit. Musk can go from $200B to zero without spending a dime.

[@calamityjean1525]

@@Novastar.SaberCombat When SS was first started in the 1930s, the tax cap was high enough that 90% of all the earnings in the nation were subject to SS Tax.

[@mjc0961]

@@darrennew8211 Elon's not gonna give you a free blue checkmark, get off his dick

[@soxfan]

plus added benies, more people who never contributed ,using $$ for more than intended

[@georgeberg2106]

As long as the GOP wins the news hype game nothing will change. The fallacy about entitlement programs being the huge burden on society needs to include the entitlements going to defense and corporations and political pork programs then maybe voters will hold Congress responsible for their inaction.

[@terri241]

Right on. Well said,

[@bobs182]

Reminds me of Michelle Bachmann complaining about people getting $125 SNAP food payments while her farm received $150,000 in crop subsidies from the government. Stop the crop subsidies started during the depression and give food aid to hungry people so they can afford to buy the food Bachmann grows. Let the capital markets decide the price for farm crops instead of crony capitalism.

[@georgeberg2106]

@@bobs182 big problem now is how many farms are foreign owned. The processing plants farmers sell to are also foreign owned, sold out by American CEO's in order to get a huge bonus. These plants squeeze American farmers out by controlling prices and buying legislators with the profits.

[@patrickfitzgerald2861]

The gangster-capitalists in America make very sure that the government serves their needs first, and above all others. This is a systemic problem, with both parties now deeply implicated in the evils that have arisen from it in this century.

[@barbaram5787]

Absolutely. Why don't those in government that say they support equality find ways to get those points out in the public more. The other side does a great job of fearmongering their false statements. Ya, I know they are still rich government too.🤦‍♀️

[@lilliankerr-z7c]

Most Americans find it hard to retire comfortably amid economy crisis. Some have close to nothing going into retirement, my question is, do I pull cash from my 401k and buy a house, or spread my money in stocks for cashflow? I'd love to afford my lifestyle after retirement?

[@LindamartIin]

Lately, I've been contemplating retirement, uncertain whether my 401(k) and IRA will ensure a secure future. I've also invested $200K in the stock market, experiencing fluctuations without substantial gains.

[@Ben_Jacques]

Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.

[@alex-Yolan]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $575k to $1.2m

[@LeylahCollins]

You seem to know the market better than we do, so that makes great sense. Who is the guide?

[@alex-Yolan]

My CFA ‘Grace Adams Cook’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@danithompson8743]

My husband once had a six-figure job and about September each year he would hit the cap. Money would go straight to his check and we used that extra for Christmas or vacations. As a tax accountant, I always thought this was bad--people who earn a comfortable living get 6.2% higher wage for three months, the company gets to keep their 6.2% share to the bottom line, and low income people get further behind. So unfair. This isn't the only area that needs to be fixed, but it is a start. The wage base is tied to a maximum benefit for retirees, so that should be adjusted up as well--more benefit the more you pay in over your working life--but this would help all people including lower-income ones.

[@bluelady549]

Thank you for sharing your expertise with us.

[@jackpleb2360]

All of that was nonsense rambling. The currency is just debt. Our money isn't money at all. Fix the money, boomers. You broke the world.

[@SearTrip]

Yes, it’s people who make over the cap who actually understand how little it effects the people who make over the cap. That’s what I found when I was in that bracket. But people get brainwashed that it’s somehow unfair. Why do things always have to be scrupulously fair when it could inconvenience the rich, but not so much when it works in their favor?

[@TheCommonS3Nse]

While I agree that the cap is unfair, I don’t think it’s the primary issue with social security and the methods of funding social security. I remember reading a quote from FDR with regards to social security, in which he stated that the plan to have a separate tax for social security was 100% a political decision and had nothing to do with the financial requirements. The State can backstop the social security program. There is no legitimate financial reason that it can’t be funded by general tax revenue or Federal debt. The only reason for the social security tax was to give people that sense of entitlement. I paid for this benefit, and I am therefore entitled to this benefit. When people feel that they have a genuine entitlement to something, it’s going to be nearly impossible to convince them to give it up. The issue comes in when wages don’t keep up with inflation. In that case, the taxes that are coming out of paychecks to fund Social Security remain tied to the lower wages, not the rising cost of living, but the benefits received at the end are tied to inflation. So you have a declining tax rate at the same time you have an increasing tax burden. Removing the cap would help to alleviate that imbalance, but it wouldn’t do anything to help with the lower wages. The people at the bottom would still be paying the same amount in taxes, and the middle class would be paying a bit more in taxes. The rich would simply find another way to structure their income. If it’s capped, then the rich don’t really care about this tax because it’s a drop in the bucket. If there is no cap, then the rich will simply restructure their pay to receive more in-kind benefits, or stock options, or other loopholes to reduce the actual “pay check” that the social security tax is drawn from. I think it would be far better to just backstop the social security program with Federal funds, and then work on gradually creating more balance in the funding structures, maybe through raising the cap, or by raising the minimum wage to ensure that more people can actually hit the cap and experience that portion of the year with a higher pay check.

[@rm3141593]

​@@TheCommonS3Nse hummm raise minimum wage so much to make more people hit that cap. That is one hell of a raise!! I agree it'd be great but I don't think that's a practical solution unfortunately😢. You've got to start somewhere though, and "scrap the cap" sounds good to me.

[@billymorton8934]

I love what you do ! We need more like you ! You’re always on point ! Thank you for all you do in the name of democracy ! 🇺🇸💙

[@jackpleb2360]

Democracy is a great evil. It is so bad. Our American country is a Republic first and foremost. The founding father, Benjamin Rush, is quoted as saying, "A simple democracy is the devil's own government." The boomer generation is so utterly lost, brainwashed by a post-WWII foundation MYTH that you cannot see reality. Truly a sad bunch captured young by satan's tribe and led astray, up to the point that you allowed for the destruction of the family and the systematic murder of unborn human beings. And you still moan and bleet about democracy. Democracy is the god that failed. You are just talking about communism, and you cannot even see it. So sick and sad. If i couldn't laugh at the black comedy, I'd weep for the death of my country.

[@jhonshephard921]

I love what he does now but he was in the government of the neo-lib who turned the Democrats right. He could have at least tried to stop his friend back then from being Reagan 1.5. I am still a Democrat but only because real leftists don't have a better choice.

[@trallfraz]

A flat tax would be more to 'the point' but the commie democrats ALWAYS love spending money we don't have on themselves and idiotic things like 'climate change', which used to be global warming until they were found to be frauds.

[@murraymadness4674]

You might also look into why they increased SS payments by 8%, yet everything I buy has gone up AT LEAST 25%. Exclude food and gas and drugs and healthcare, yeah we don't pay for those things when you retire.

[@charlesronk2989]

Amen to that. What is in their basket of goods. As you say everything I buy is 25% more than just 2 years ago. As a Federal Government employee I got a 4% raise.

[@brorpaulhjelm6187]

The government is claiming the inflation rate is under 10 percent but most people know everything they buy has gone up at a much greater rate than that the government lies about everything including the poverty rate and the unemployment rate and the amount of homeless people in America which the well off politicians have completely turned their backs on we would not want the well off to feel bad about all their excessive wealth would we

[@SandfordSmythe]

They use a different COLA formula to save money. There isn't enough SS income there. Why do people envision Uncle Sam as sitting on a pile of money and wanting to be mean?

[@murraymadness4674]

@@SandfordSmythe Because they are/do? They borrow trillions to pay for aircraft carriers and million-dollar each missles to kill people.

[@aolvaar8792]

@@SandfordSmythe "The Only way to deal with a Starving person is to Feed or kill them."

[@tomg6498]

The rich got rich by not giving a shit about lower lifestyles. It's the people's problem.

[@faye123__]

right that is why one should never vote for a narcissistcic brat

[@truthisfree7297]

Thanks as always Mr. Reich for cutting through the bs and demonstrating how clear the solutions to some of our most pressing issues are. It does astound me how greedy so many became over the last few decades, people who somehow think they are worth millions to the company, but were generally incapable of doing anything without their wage slaves. Do they really think that paying a bit more into social security would kill them? Thanks to the GOP, most companies have already gotten out of providing pensions in favor of the awful 401K grift.

[@jackpleb2360]

The GOP ate my homework!!! Yeah yeah the demonrats molested my daughter, sniffed her hair, tried to rape her, tried to abort her first, and then stole her retirement to send to Ukraine (and right back to Joe thru money laundering) but its that GOP that is a danger.

[@urbanverificationist]

Stephanie Kelton made a great point when she said that we shouldn't ask "can we afford the money?": it's really a question of whether we can afford the resources and labor needed to get stuff done. Another way is to say that the only limit to government spending is the productive capacity of the nation.

[@yourdaddy-mq4km]

Social security is a ponzi scheme, it's always been abused and it's always out of money because the top of the pyramid always grows.

[@mark.harvey]

But this is just as biased. SS benefits are capped as well. If the cap is raised would you also approve removing the cap on SS benefits?

[@aurora571000]

@@mark.harveyno, it is a benefit to all of society keep seniors from becoming homeless. That is their reward

[@Shari466]

I've been saying get rid of the cap ever since it was only $69,000. That was a long time ago and I was making about $12,000 a year.

[@renatocorvaro6924]

The thought of Robert Reich retiring makes me immensely sad. We still need him.

[@davidschneider6306]

He’s a fighter. He will never quit.

[@tapdancingcowgirl4767]

As a progressive, it irks me that Biden never talks about this SS dilemma. 😢

[@patmcbride9853]

Just like Goebbels, eh?

[@snorfallupagus6014]

@@tapdancingcowgirl4767 As a progressive, you will never learn.

[@sct4040]

He is still working to educate, it’s important work.

[@user-rb1yf4he9q]

After serving this country, paying my taxes, supporting administrations that I didn’t agree with, I am now watching a country that has been sinking into more debt each yr, more division and more hate. It doesn’t bother me. I am accepting this as what life has handed me. I did my part. Now I choose to leave these shores and live a simple peaceful life. I don’t need SS, health benefits or any other program. I made enough to live comfortably anywhere and I leave this place behind with zero regrets.

[@5150cappie]

Funny how the ones who oppose social security and health care are the last people who would ever need it. How nice they look after us.

[@thecourseofempire8353]

Look after yourself

[@tonylevine2716]

Bingo!!

[@samstewart9249]

​@@thecourseofempire8353Yes, by not voting in politicians who favor the wealthy!

[@HighFrequencyRadio]

Take care of your health and stop eating crap!!

[@Da_Xman]

​@@HighFrequencyRadio How funny...! Thanks for adding some great humor to an unhappy subject! LOVE IT! ✨♥️👋🤣👍✨

[@tylerhackner9731]

It needs to be strengthened and protected

[@unquietriot8019]

I wish he would also address the insidious laws that make lower income people STAY lower income once they retire. Social Security reduces you benefits if you earn $$ after retiring. It works like this: if your SS income is $1,000/month = $12k/year. Now, say you get a decent "retirement job" that gives you an additional $35k/year. Congratulations! You now earn a whopping $47k/year. If you're UNDER 67, the government will deduct $1 of your social security for every $2 you are over the "cap" you can earn in retirement (which is currently $21,240 for FY23). So, your $12,000 Social Security payments just got reduced by $6,880. Your "new" social security benefit is now $5,120 and your total income is now just $40k (before taxes). If you're over 67, they'll take away $1 for every $3 you earn over the "cap". So the next time you hear people screeching about the glories of "free market capitalism", ask them about that little bit of malfeasance.

[@andreah6379]

We can thank Raygun--CONservatives' hero for taxing OUR Social Security!

[@honestabe1940]

GOOD JOB!

[@armymutt25A]

You're actually going to blame a socialist program architecture on capitalism? Seriously? Under free market capitalism, there would be no SS program. You would get to keep that money so that YOU can invest it in a manner that suits you. The entire program was put into action under a socialist-lite president.

[@SandfordSmythe]

SS is to pay for retirement, not to supplement your working. It doesn't have money as it is.

[@unquietriot8019]

@@SandfordSmythe Maybe you missed the part where SS is money WE put in it our entire working lives. It's not some "free entitlement" pot to be withheld or reduced for any reason. There is also no legitimate reason to double tax any earnings from our "second careers" - they're taxed plenty on the front end. (SS is also, in a twist of sheer legislative malice, taxed). Here's a fun fact: pensions have no such restriction on earnings during retirement. For example, retired employees earning healthy pensions of $80-$90k/year can earn as much as they want without that "retirement stipend" being reduced. Why? They funded SS the same way they funded their pensions - payroll deductions on their earnings. I wonder if it could be because people dependent on SS are more likely to have been lower income workers without the option or ability to be employed where pensions were offered? They're older people who have fewer assets and much more economic vulnerability than the well-compensated pensioned employee? Likely they already receive a very low stipend from SS (a friend I know receives $700/month) but if she takes a job to supplement that, the government has chosen to pass a law to take even that small pittance away. Certainly seems like the law makes it more likely for poorer retirees to remain in that low-income situation, doesn't it? Why do that? Finally, if SS is in danger insolvency then the solution is to eliminate the salary cap and make the rich pay into the fund at 100% of their earnings. Maybe watch the video? Problem solved (until Congress creates another one).

[@maninthemiddle55]

Thanks for your good work, Mr Reich

[@roxannamarinak3156]

Thank You again Professor Reich ...keep on Speaking out on Social Security. The Rich have to start paying more. The Greed and Corruption abounds among us.. Inequality is absolutely what has caused our crisis. How much does anyone really need to live and be happy. I read where the 4th cause of death in this country is "Poverty"

[@Iamwolf134]

Keep an eye on how many of the rich start hedging their bets against increased wealth taxes.

[@andreah6379]

Not enough Americans are saying this: TAX THE F'g RICH. Yes, part of that is "scrapping the cap."

[@michaelcap9550]

@@andreah6379 Typical liberal answer, Rinse and repeat.

[@lindarockafellow5058]

Michael so you don't think rich and huge corps shouldn't pay a fair share??

[@brorpaulhjelm6187]

@@michaelcap9550 I would like to see a transparent tax system where everyone including billionaires and Mega millionaires and all capitalist businesses pay the actual amount of taxes that the tax laws say they owe the working class have their taxes taken directly from their payroll checks and mostly can not cheat and not pay their fair share

[@catedney4165]

It’s BACKWARDS!!! Who ever makes more Money should PAY MORE !!! SCRAPE THE CAP ASAP!!!

[@eatmorenachos]

As the wealthiest country in the world, we can afford to let retirees live a decent life---it's just a question of where it comes from. The most obvious source is the super wealthy. Reagan's "trickle-down" economics was a failure from the start, limiting what SS takes in AND taxing the benefits for the first time! It helps those at the top, at the expense of the rest of us.

[@jackpleb2360]

We are not wealthy. The fed reserve prints currency from nothing. It is all debt. You are a debt slave. But keep crying about fighting other rats within the prison. That will solve it. Deerrrrpppppp

[@malanalan1]

US is NOT the the wealthiest country in the world. You are just quoting idiots. It is definitely one of the wealthiest countries in the world and it should be able to afford decent retirement and healthcare for all of its residents. What can be accomplished if people vote to elect democratic president and 2 years later they vote to elect republican congress. This happens time and again. It is not just the rich who are pulling the strings. It is US voters who are either dumb or uninformed. If democrats were given overwhelming majority in the Senate and the House of Representatives, plus executive office, then things would have changed. Until then, thoughts and prayers.

[@deanfiora4227]

Thanks to Reagan, unemployment benefits were also taxed for the first time.

[@nickiemcnichols5397]

I was told by my high school civics teacher, that if you want to be a lawmaker, get rich first, or you’ll never have a say. That was sixty years ago, and he was right.

[@bradc32]

oh yes i remember" trickle down". scam right from the get go....and then "service economy" was in there too

[@jim6798]

Major inequality in this country is that the overwhelming majority of people that still receive pensions are government workers (I.e. teachers, police, federal, state workers, etc,) we pay for those pensions. Hardly any pensions left in the private sector.

[@GenerationX1984]

You know how the federal minimum wage has been capped at $7.25 an hour and will never go up? Well, we need to cut CEO salary in half, cap it, and make sure it never goes up to keep pace with inflation. Boy, that would piss those arrogant wealthy jerks off! I think that labor law and business regulation should be passed immediately!

[@meticulousperversions9064]

where do you live where 7.25 $ is minimum? there are ton of tweaks and changed that we could make so that those who actually need it get it but the one who make the rules will never allow it

[@GenerationX1984]

@@meticulousperversions9064 Idaho unfortunately. Red states are bent on keeping wages for anybody who isn't rich as low as possible. We need to raise taxes on the rich to what they were before Reagan was president.

[@davidsebastianelli1326]

My first job out of college paid me just above the minimum wage and it was $4.75 an hour....that was in 1979! My boss told me back then that no one should be paid only the minimum wage because it sends the message that if they could pay you less, they would....BTW- About 9 years before this, my parents bought a custom built home on a canal in the NE area of Fort Lauderdale, FL for $37,000. That same home is worth well over $1 million today. A gallon of milk cost $0.43 and bottle of Coca Cola was $0.07. I paid for college by working a summer job and it cost me around $1800....

[@fritzforsthoefel8031]

You are aware that the top five percent pay sixty percent of the federal taxes

[@GenerationX1984]

@@fritzforsthoefel8031 And they still have money left over to bribe our politicians and pay to keep us down.

[@darceylopez6065]

My father is a 74 year old boomer working at Albertson’s. He had to go back to work to pay off his pace maker. Social security is only one problem we need to fix for our future. The other problem is the rising cost of healthcare. I’m Gen X and I will work until I die.

[@KernelHughes]

Why we need UBI

[@larryhovekamp4318]

Your father needs a full Medicare system. That's why the USA needs national health insurance- Medicare with negotiable cost controls for all!

[@davidmende4438]

American workers go through life as prey for Doctors, Lawyers, and Indian Chiefs. Those who need support after 67 should get help. Cradle to the grave minimum wage is a crime.

[@fritzforsthoefel8031]

Universal income meaning free money for nothing you are a bum that wants something at our childrens expense our debt is bigger than our entire economy already that our children will have to pay for and you want free money at there expense to why do you hate our children

[@fritzforsthoefel8031]

You won't pay enough taxes to pay for the social programs we have now our children will inherit a bankrupt shell of a nation because of people like you who thinks everything is free why do you not pay enough taxes to pay for the handouts Democrats want instead of bankrupting our nation

[@ronzundell7394]

As long as the GOP has any power in congress, this inequality will continue. They will not do anything to offend their benefactors. Money in politics has given the super rich an unfair advantage over the rest of us

[@andreah6379]

We have them outnumbered!! It's down to the education of rightwing voters that is a problem--atleast just for today. Because as we get closer to 2033 or whatever year that cut in Soc Sec is taking place, you better believe rightwing voters will be hearing all about it!! And they aren't going to like it at all! The uber rich want Americans to be apathetic and make their arguments FOR THEM. I refuse. We all need to fight them back. 60+ million Americans receive Social Security!! That's a very powerful number. Stay focused and organized.

[@kinghenry8615]

Emigrate

[@lifeisagift.cherisheverymoment]

@@kinghenry8615 Emigrate? Brilliant solution! The sort of brilliance a slug would come up with, Einstein!

[@bradc32]

as long as the DEms keep being a wishy washy unfocused mess, the GOP will be around

[@dknowles60]

what power, it was the dems that Made the mess Starting with LBJ

[@thelakeman5207]

No one is worried about this, UNTIL they open their bank accounts and their Social Security money isn't there.

[@jerrydellasala7643]

Mr. Reich, I love your insights, and almost always agree with you, but in this case I don't think you go far enough. I'm a boomer too, about 7 years younger, and never thought I'd see anything from Social Security, but luckily do. I didn't learn of the cap until I broke it, and was appalled that there was such a thing. I knew that partners in the firm I was working at were making more in a month than I made in a year, and since I wasn't breaking the limit until December it made little difference to me. What really bothered me was that people making minimum wage or less WERE paying the tax. I don't see why the tax isn't imposed until one breaks at least the poverty level of income, and it should be set up so that the SSA should be estimating what that level should be to meet the coming year's needs. It's not like a dozen people need to sit around crunching numbers for weeks to determine that. It could be calculated in SECONDS! Why is this tax imposed on the poor? Why is it capped so low that the program is in danger? It's just DUMB!

[@UTTX]

It’s capped at a 147,000 because when you collect after you retire the benefits are capped… what rational reason is there to pay more into a retirement account than you’d receive in benefits?

[@elizabethpeterson56]

i understand the benefits u receive r based on ypur working income But that would probably only give u maybe 2 yrs of ss at retirement. the system was designed so that 40 to 50 yr olds teaching their highest point in income contribute to ss amd that is wjete your ss in retorement comes from. Obviously u completely defeat the whole intention by capping ss tx on these ypunger folks. And btw devlining birtjrates wii eventually undermine it all. Thanks DInks!!!!!

[@elizabethpeterson56]

sorry on misstrokes. hope its clear enuf.

[@urbanverificationist]

Ultimately MMT basically shows that governments are able to choose who they want to give money too. Fiscal constraints are mostly just arguments about who should get more than others. The Federal Government does not run like a household.

[@chaosking911]

Thank you for everything you do for this country.

[@TheRealLesterGreen]

He is a rich person that makes money demonizing other rich people

[@spanieaj]

Oooof!

[@crsuperman1]

What is retirement ? What is social security? Some of us will never know

[@bobs182]

Wealthy people's grab for more power and money will someday result in their decline as do most extremes.

[@yourdaddy-mq4km]

You might know if you had put the money in a retirement account instead of contributing to the social security ponzi scheme

[@DonaldMains]

If you don't know what social security is then you are part of the problem.

[@calamityjean1525]

You WILL know retirement and Social Security if enough of you vote Democratic and lean on your Senators and Congresspeople hard enough. It's politics.

[@donaldschochler4382]

Mr. Reich, I appreciate your bravery in speaking out. I’m sure the super rich must hate you.

[@elmerkilred159]

A failure to raise the minimum wage to keep up with the cost of living for the last 50 years has also effected social security. (and higher labor wages, salaries, etc...)

[@brotherlonewolf4182]

Make America safe again for the poor, the disabled, and the homeless! SPREAD THE WORD! Vote all of the GQP fascists out of office, and be sure to call, write, or email your representative and demand a constitutional amendment to elect the president by popular vote NOW!

[@harrisonwintergreen1147]

Fascinating is a leftist movement. Mussolini was a socialist.

[@MrMarinus18]

Also productivity has more than tripled in the past 30 years. Even with the aging population paying for social security should be far easier now than it was in the 50's.

[@tfde1]

​@MrMarinus18 productivity may be up. But quality of jobs and number of positions In well paying jobs is down. Think about it, in 50s to mid 80s how many people worked manufacturing. Today you have 1 person doing what 40+ years ago took 4+ people to do. And because the machines are automated it's no longer a skilled job.

[@MrMarinus18]

@@tfde1 But that is a matter of choice. We do have enough productivity in the system to easily support social security. What we are missing are powerful enough unions to force companies to pay into it. It's important to remember that pay is decided on by corporations. Corporations can pay everyone more, they just don't want to.

[@yourdaddy-mq4km]

If you want to make America safe again for poor and disabled then vote Trump. The man actually has a plan to fix the homeless and inequality problems in this country.

[@arguseyed6852]

Retroactively fairly taxing the wealthy would immediately result in large social security and health care increases.

[@TheRealAbrahamLincoln]

@@alvinsoehendrywijaya How ridiculous. In your world a disabled person would not get benefits because they couldn't afford it. Some of us, most of us really, don't want to live in a world where we let people die because of disability, age or other reason. We are happy to live in a world where we take care of those people. And ultimately, fair is a stupid word. Life isn't fair. We want to create one that is kind and is better for the next generation. So, income and wealth tax are the way to go, and ultimately, you wouldn't be getting that income and wealth without a strong country around you, so that meets your criteria as well.

[@kayallen7603]

GOOD !!! MAKE IT HAPPEN !!!

[@andypatterson8991]

Yes I bet it would as well.

[@yourdaddy-mq4km]

Is 37% of they're income not enough?

[@michaelcap9550]

That would only send them overseas.

[@ferdinandsiegel4470]

It's amazing that a country of equal rites and equal treat is so unequal.

[@laurafreeland7800]

I was told by my third grade teacher back in 1997 that there would never be any social security for us 😢 I’m 35 now and I’m beginning to wonder if she was right

[@calamityjean1525]

"...I’m beginning to wonder if she was right" It's political. It depends on who you and others your age vote for. Vote blue!

[@spanieaj]

She is absolutely right. Most Americans are losing money when the Social Security tax is taken out of their paychecks.

[@pcatful]

That's funny. I don't think I had any idea what SS was in third grade, and guessing no teacher said anything about taxes to us at that time.

[@newperve]

You're beginning to wonder? There have been predictions it will be broke b the mid to late 2030s for decades now.

[@newperve]

@@calamityjean1525 No it doesn't matter who you vote for. The Democrats have done absolutely nothing to avoid the collapse of SS when it was relatively easy. Now that it's pretty much impossible they'll do less.

[@roywhitman7109]

Great info, Robert! I retired 2 1/2 years ago. As I recall, on EVERY paycheck I'd ever received, there was a line on it that said, "Social Security", with an amount that was deducted & put into my Social Security account. Therefore, that's my money that I contributed personally. The Republicans feel that that information is false. They believe that it is their money that they don't want to have to return to the person that it rightfully belongs to!! If they want more money for whatever, they need to get it from those that have an abundance of it!! TAX THE WEALTHY ACCORDINGLY!!!🤬

[@jackpleb2360]

Crying Democratic Party pedophile supporter cries about the GOP being slightly less evil and demonic than the Democrats. Many such cases.

[@yourdaddy-mq4km]

😂 it not republicans fault you don't understand how a ponzi scheme works. Social security is a ponzi scheme, you always put in more than you take out. You leftists love wealth redistribution until it happens to you 😂. Should put that money in a retirement account instead of paying SS and you'd have plenty of money.

[@bogdan78pop]

No it's not like that........when SS was enacted there was no fund , so the people working started paying for the retirees that, have never contributed to the fund.....and this is happening even today ..!!! You Payed for the old ones when you worked ....and now the young ones are paying for you ......!!! it's clear now..?

[@roywhitman7109]

@@bogdan78pop What's clear is that there are extremely wealthy Americans that aren't paying their fair share on taxes AND Social Security. Something needs to be done & the GOP isn't willing to rock the boat!

[@bogdan78pop]

@@roywhitman7109 I'm right there with you ....but i wanted to make clear how the system was designed ...i don't pay for my own ss check......i pay for people that came before ....!!!

[@marilynsleeper8589]

I am 61 and so worried that all of my taxes put into this "fund" will not be there for me. Do I have any retirement plans, frick no, because I had to stop working to take care of my mother and father when they were sick. What the hell do I do now??? They split up social security And Medicare and then reallocated those funds to "other" "programs". It was a money grab and they were all complicit. There is no "pot of gold" for the rest of us baby boomers. I am 😨

[@phil20_20]

You tell 'em! There is definitely a huge gap between reality and the government. Thanks Congress! Sadly, it's also a lot of conservative minded government employees, who don't believe others should get the same support they are.

[@kentmorton2872]

Has anyone else noticed who was the president during all of these changes? Yet their are a lot of working class people that still think that he was the greatest president in modern times.

[@eatmorenachos]

Damn right. Reagan was a disaster.

[@nickiemcnichols5397]

@@eatmorenachos he was. He was the worst president we’ve ever had, until trump.

[@RodneyDempsey-o8w]

​@@eatmorenachosbiden is the worst president ever besides both parties are to blame for social security the rep want to raise the retirement age rate is wrong and the dem do not think anything is wrong.

[@davidsebastianelli1326]

Who would have thought "Trickle Down Economics" wasn't going to work like he said it would? The answer is me and everyone else in the 90% of earners...Same thing with getting rid of Unions and jobs that offered pensions, nobody thought that was a good policy yet here we are....

[@kentmorton2872]

@@davidsebastianelli1326 Yet blue collar workers and union members still love him. He would never have been elected without their vote. Teamsters actually endorsed him. And it's been downhill for unions and working people ever since. Make it Make sense.

[@kalitor]

Increasing wages would also increase social security revenue by moving more of that income into the social security range. Particularly increasing the minimum wage would push all wages up and increase revenue for social security.

[@geraldallocca6858]

Thank you Mr. Reich!! You tell it like it is!! The media must start talking much more frequently about inequality!! So does organized labor and our politicians!!

[@williewest5574]

Thank you Robert and keep hammering that nail......SCRAP THE CAP

[@lynetteclauser3551]

I have lost hope of congressman ever doing anything that would benefit anyone other than themselves or their rich friend. Just recently while talking about spending cuts, they have themselves a raise.

[@Patriot1789]

You are more likely to get support from a Democrat than from a Republican. Try to remember that every time you vote. Why? Because Reps believe anyone not rich is lazy and ought to pull themselves up by the bootstraps - even without boots!

[@WeekiWacheeMax]

They haven't taken even a cost of living increase since 2009.

[@lynetteclauser3551]

@@WeekiWacheeMax Then your not paying attention.

[@fritzforsthoefel8031]

When was the last time they took a raise

[@WeekiWacheeMax]

2009@@fritzforsthoefel8031

[@terryjames548]

Lindsay Graham and Rick Scott agreed Social Security and Medicare "had to go". Wall Street buddies need more money. George Carlin predicted that would happen.

[@meticulousperversions9064]

dude was all over this for decades back when reporters still existed now we got wall to wall shills and no George 😥

[@suezbell1]

True ... but also add: WAGES have not kept up with inflation so SS tax/payments have not either.

[@KevinMcGrath-b9x]

There should never be a cap on FICA taxes. How incredibly stupid.

[@johnpritchard9753]

Robert, you are a national treasure!

[@thomasword5762]

The social security I get is almost the same as what I put in for 50 years, so nobody is paying for my social security but me.

[@ogi197]

So basically..no interest...the young not falling for this..and definitely not my children.

[@fritzforsthoefel8031]

You are either lying or not very smart here is proof if you draw 1500 a month till your eighty that's over two hundred thousand dollars and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes the difference between what you pay and what you draw out is added to our debt our children will have to pay for Democrats set up ss and medicare exactly like a Ponzi scheme

[@TerryMcColgan]

Don't forget that that includes interest.

[@fritzforsthoefel8031]

Democrats set up ss and medicare just like a Ponzi scheme vote out handout Democrats before it's to late

[@fritzforsthoefel8031]

That's not true if you draw 1500 a month till your eighty that's over two hundred thousand dollars a year and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes the difference between what you pay and what you receive is added to our debt our children will have to pay for pay your fair share of taxes for the social security and Medicare you will receive

[@genius11433]

I didn't even know that the cap existed! But i googled it, and yep, it's a thing! The cap has got to go. Unfortunately, simple solutions are hated in Washington precisely _because_ they're simple. We need to pray for those in Washington that they remember that they work for *us* , and we need to pressure our Congresspeople to make this simple fix yesterday.

[@fmbbeachbum8163]

And all the Congresspeople get to keep their salaries the rest of their lives, along with free healthcare.

[@suzannepottsshorts]

Just because it's simple, doesn't mean it's easy

[@andreah6379]

​@@suzannepottsshortsWe have to get use to that. Doing work to better our lives. If we don't, nobody else will.

[@odettetenney409]

The RATPUBS will NEVER GET RID OF THE *CAP* IT BENEFITS THEIR HORRID WEALTHY BASE ...VOTE BLUE 💙🇺🇸💙💙🌊🌊

[@vickijohnson9367]

I know many who earned way above the cap, and if anything is taken out above the cap, they can take their refund and buy a new car, then use the rest to go on a luxury vacation to Tahiti.

[@katebc9148]

Thank you, Robert. Another brilliant video!!

[@brucesteinkamp5871]

All this time I thought it was the 2.9 trillion that congress has "borrowed " from SSI over the years that is making it insolvent.

[@jackpleb2360]

Your money isn't even real.

[@coleengoodell7523]

Exactly!

[@mikespangler98]

Yeah, Congress spent every penny, but don't worry, they promised to tax someone in the future to pay our benefits.

[@captsorghum]

That's not the problem though. It's not that the IOUs are going to default, it's that there aren't enough of the IOUs (even when paid back) to cover the outflows.

[@SandfordSmythe]

This money is being paid back now, and it will supplement the defict SS tax until it runs out.

[@barryrobbins7694]

Just as the life expectancy of some groups is going down, the age at which they can collect earned benefits is going up.

[@eugenb.8448]

Canada faced a similar worry about its version of SS, CPP, in the 90s and then PM Chrétien assigned his Finance Minister, Paul Martin, to fix it and ensure it was fully funded for the foreseeable future. It’s gone from holding ~$36B in 1999 to now holding well over $500B and is expected to top $1T by the end of the decade. As we’re 10% of the size of the US, more or less, that would amount to SS sitting on $5T now and $10T by 2030. The current change that’s going on with CPP is increased payments into the system so the benefit is greater. Ironically this means the younger generations will be able to receive vastly greater CPP payments than Boomers as the updates to the CPP are designed to provide a greater benefit to better reflect current financial needs. As the CPP is so well funded it means those surplus funds can easily help pay for this increase for the younger generations. The CPP is run at arm’s length from the Govt so they can’t raid the fund which helps ensure it’s integrity. Maybe something for the US to look at to help fix SS for its citizens? PS: CPP benefits are taxable in Canada.

[@xentrix89]

Im in canada on assistance I do not recieve close enough to even cover rent in a small town. its real bad here too eh

[@twostop6895]

Canada? lol

[@Singlesix6]

If a billionaire pays 100,000 times as much into SSA retirment as someone making $50k/year, will the billionaire get a montly SSA retirement check that is 100,000 times as much? Nope, there is a max limit on the monthly check. There is a limit on what earnings are taxed and a limit on what one person can receive a month. Seems reasonable.

[@CraigHighberger]

Robert Reich you are a national treasure, your videos are so clear and concise and brilliant. Bravo! And thanks for all you do!

[@WeekiWacheeMax]

What he isn't telling you is that increasing the SS taxes on the wealthy wouldn't be paid back to them in the same way it is paid back to those of us who contribute who are not wealthy. There's a limit to how much one can get from SS. The most retirement income one can get is about $3,600 to $3,800a month at 67, no matter if you were taxed for SS at $1,000,000 a month for 40 years paying in . He just wants the wealthy taxed for benefits they pay for but wouldn't receive. In other words, if one paid into SS 480 million they still could only collect $3,600 to $3,800 a month. This guy's analysis can't ever be trusted.

[@fritzforsthoefel8031]

Why do you not pay enough taxes to cover the cost of Democrat programs we have a debt so big it defies belief our children will have to pay for should you not pay for the social programs Democrats want or do you think it's ok to live off our children

[@barbaram5787]

I get upset with my fellow low income class neighbors that say, we can't increase the CEOs and rich taxes because they will increase the price of their products and services to us to stay at their comfy lifestyles.

[@andreah6379]

Tell them that they are doing and saying EXACTLY what those greedy rich want them to say & do: Just say there's nothing we can do about it! These ppl are only helping the problem stay a problem. Tell them that. It's the easiest and laziest thing to do is to plead that nothing will change for us. Don't let these "fellow Americans" off the hook. The leftwing voters in America hadn't been voting in the greatest numbers for decades. What did the right do? They filled a majority of states legislatures with their reichwing reps!! Where has the left been up until 2008 when we FINALLY voted like we cared about voting?!?! And we couldn't even keep that up in 2010! I understand we were disappointed with mediocre Democrats but staying organized & united is what we need to do. We must herd the cats now, and get rid of moderate Democrats, not just the Reichwing crazies. That takes focus and work.

[@deanfiora4227]

That reminds of co-workers who told me, "We can't join a union! The owner will close the company."

[@player627]

I was taught that supply and demand determine prices, not a CEO's whim. I still believe that .

[@rdbeckett590]

Thank you Ronnie Reagan…….😡 it would also help if the republicans would stop taking money from it. To the The rich-PAY YOUR FAIR SHARE. Thanks Robert ❤

[@u686st7]

Define "fair share". Give me a number.

[@paulamartin6724]

@@u686st76.2% of their ENTIRE compensation. Just like hourly workers.

[@jackpleb2360]

Still a communist, even in retirement.

[@JimHolder-pk2kk]

@@paulamartin6724 Yep, fair means pay in at the same or a higher rate than low wage workers.

[@rdbeckett590]

@@u686st7 more than 1 percent…..maybe 5 percent It needs to go on up

[@TerryMcColgan]

I have been saying this for a long time. Greatly increase the cap. It would allow for the payroll tax to be reduced to a fraction of what it is. That would put more money in the hands of the people who actually spend it, which drives our economy. As an employer has to match the payroll tax, it would free up money for employers to hire more people. It's a win-win. A guy like Bezos probably hits the cap on 1/1 in his 1st 5 minutes. The rich will cry foul, but is it fair that I, on a percentage basis, pay double now in income tax than a wealthy person does?

[@suziperret468]

Pay your fair share of your taxes , Uber rich!!!

[@FiniteResources7734]

More irony: older Americans who rely on social security are voting Republican at a higher rate now, in effect voting to make their SS checks smaller.

[@jackpleb2360]

More irony: fought alongside bolshevik communism and destroyed Europe. Became comminists to destroy America. Still communists. Western Civilization continues to die.

[@tapps1010]

@larryroubaix5123 Well, after all, it is a fact that criminals(FQP) prey on children and the ELDERLY.

[@odettetenney409]

SPOT ON, VOTING 4 THE HORRID RATPUBS IS A VOTE AGAINST YOURSELF......ONLY AN IDIOT WOULD VOTE THAT WAY??????💙💙💙💙💙

[@unnamedenemy9]

I've learned never to underestimate the power of stupidity and culture war identity politics. Republicans will vote to cut off their own noses to spite their face.

[@ellenbruckermarshall4179]

GOP: Mission Accomplished!

[@luiszuluaga6575]

What is it going to take for the majority of working Americans to really wake up to what’s happening in terms of our earnings? Company loyalty no longer means anything in this world and that’s by design. So, what are we left with? I’m just going to say we have options and we have negotiating power and we need to exercise it not just at the ballot box.

[@jamesmckenzie3532]

One HUGE issue is that Social Security is NOT being used by many recipients for basic needs but rather luxury. The amount of holdings needs to be addressed. Then we fix the program to fully tax ALL forms of income and to invest in better earning areas.

[@pambelcher2857]

Thank you for telling the real story!!!❤

[@potrelviewer9536]

Being rich should be extremely regulated. How would rich people at the top of the societal pyramid could sustain themselves without the base and body of said pyramid (low and mid income folks)?

[@erikkennedy8725]

The existence of billionaires is a symptom of societal failure.

[@wdmm94]

No kidding. Most people never seem to think about the basic fact of our economy is that the mega wealthy couldn't generate passive streams of wealth without millions of peons to work in their jobs!!!!

[@johns.7297]

The professor always tells it like it is.

[@randys6220]

The part that Robert Reich intentionally left out in his explanation is this would only work if the government removed the cap for the earnings subject to the SS tax while leaving the cap on benefits in place. High earners paying significantly more into SS taxes, but their benefit remaining the same.

[@douglasbrittain7018]

There are only a few that actually hit the cap, but the majority don’t. By doing this it will not incentivize a lot of the wealthier to continue working

[@larryroddy595]

It's hard to get ahead in America when the deck is stacked against you.

[@PhobosDynami]

When you said there was a cap, I figured you were going to say it was like 5 million and hasn't kept up with ballooning ceo pay. But less than $200k? That's insane.

[@WeekiWacheeMax]

You can't hire that level of executive talent for less than what companies have to pay.

[@richardjosephnovak]

If you raise the cap you have to pay them more at retirement. The theory is over that amount they wont need more of a safety net at retirement.

[@WeekiWacheeMax]

@@richardjosephnovak It's giving something to some others have to pay for.

[@richardjosephnovak]

@WeekiWacheeMax That makes no sense. Everyone's retirement payment is based on what they put in. What are you trying to day.

[@WeekiWacheeMax]

@@richardjosephnovakThis Robert Reich is selling the idea the problem with the SS system is when the wealthy have put in what it takes for them to receive the maximum payment allowed to be paid . . . . they don't have to keep putting in more even though they wouldn't gain any benefit from putting in more.

[@PhatTony92]

Since the age of 18 (I'm 31 now) I had ZERO expectations of EVER benefiting from any social programs in my times of need. Social Security being first among them. This country is a fucking hell hole and it's going to get a hell of a lot WORSE and I'm not sure it will ever get better. I'm already saving trying to get out of the country by 2030 assuming the shit heads who run this country don't make it illegal to leave the country if you're under a certain amount of income.

[@terryowen6759]

I hear Australia is nice

[@nickiemcnichols5397]

@@terryowen6759 New Zealand is nicer. So is Iceland .

[@rugger1009]

Don’t let the door hit you in the ass on your way out.

[@PhilipHood-du1wk]

If you're patient enough you can find real truth buried in the rest of it. That's what makes Robert Reich so interesting.

[@whoviating]

It's worth mentioning that the 1983 changes you mentioned also involved raising the FICA withholding taxes - precisely to build up a surplus to be tapped when the boomers started retiring. In other words, to a degree, boomers pre-financed their own retirement.

[@dknowles60]

and the Surplus was Wasted by the Fed Gov

[@whoviating]

@@dknowles60 The surplus was created in the Social Security accounts, not general accounts. Nothing to do with deficit spending. That surplus is being tapped now, which is why SSA benefits are maintained even as the system pays out more than it takes in. Which is the purpose for which it was created. So no, not wasted.

[@dknowles60]

. @@whoviating wrong the fed gov took the surplus and spent it since LBJ was in off and left it filled with IOU's

[@whoviating]

@@dknowles60 The bill creating the surplus in the SSA accounts - which are and always have been separate from general funds - came in 1983, 14 years after LBJ left office. I suspect you're confusing that with LBJ's so-called "unified federal budget," which started the practice of folding SS spending into all federal social spending in describing what percentage of total federal outlays went to various purposes. This was during the Indochina War and was done for the purpose of concealing how much of the regular budget went to the military. SSA funds continued to be raised separately via particular taxes and kept in separate accounts. The so-called "IOUs" are essentially US Treasury bonds - widely considered about the most trustworthy investments anywhere (because those obligations have never not been paid when due) - in which surplus funds have been invested. That's it. I'm done with you. Come back when you have your basic facts straight.

[@dknowles60]

wrong The spending Problem goes Back to LBJ, it dont manther what the years are, the cold hard Fact is Congress spent the Money@@whoviating

[@missmindy3803]

I consume a fair amount of political content and this was the BEST explanation of what’s going on with this topic. THANK YOU!

[@WeekiWacheeMax]

What he isn't telling you is that increasing the SS taxes on the wealthy wouldn't be paid back to them in the same way it is paid back to those of us who contribute who are not wealthy. There's a limit to how much one can get from SS. The most retirement income one can get is about $3,600 to $3,800a month at 67, no matter if you were taxed for SS at $1,000,000 a month for 40 years paying in . He just wants the wealthy taxed for benefits they pay for but wouldn't receive. In other words, if one paid into SS 480 million they still could only collect $3,600 to $3,800 a month. This guy's analysis can't ever be trusted.

[@owenwagner4613]

Unfortunately for some wealthy this program will not get their return on onvestment. That is why it is "Social". For the benefit of the Common Good. Have we forgotten why it was first enacted? Taxes, old age and death ate inevitable. God bless the USA.

[@WeekiWacheeMax]

Because they cut off contributions at a certain level and give benefits commensurate with that level the ones who pay up to that level get corresponding benefits. What Robert Reich wants is for the well-to-do to contribute past what they will benefit from. His false claim is they don't pay their fair share. @@owenwagner4613

[@elainegoad9777]

My social security is about the income I was making in 1989 and that's the income I have to live on in 2023, 34 years ago !

[@mikemetague7973]

I'm faring worse, getting about my 1980 pay now. My too big house is falling apart, can't afford to fix it, and all small apartments and condos are now unaffordable alternatives. In a fair social system, my large house would be inhabited by a family and my 76-y.o. self would be in a one-bedroom apt. and happy.

[@SeanMac1776]

This guy is all about tax tax tax. Never about the poor behavior of our decision makers. Spending money into existence.

[@vickijohnson9367]

You can thank Nixon for turning our currency into electronic private banking debt instruments. We used to raise money for the government by forcing banks to buy our treasury notes which the people used as currency. Now we all use electronic funds which are created by the debt instruments of the private banking Federal Reserve and the rest of the private banks. Can you see the flaw? Our government stopped controlling its currency, putting it in private banking’s hands. No surprise that banks aren’t your friends.

[@singloc3021]

As of today, I'm 52 years-old. By the time I retire, three things will happen: one, they will raise the age to receive full benefits. Two, reduce the actual benefit amount. Three, increase the contribution the working force pays into social security. Social security relies on the current workforce. I'm (we are) paying for my parent's retirement.

[@pauljoyner4338]

It was set up that way by FDR during the New Deal and had worked well at the start and for years after that. Then the politicians got to "improving" it and here we are.

[@JimHolder-pk2kk]

Therefore the cap must be removed.

[@karenstauffer1524]

Once again, you explained it so well! And we need HIGHER SS payments, because out of it we pay Medicare and Medigap insurance before we even get it. Yes, yes, I know :" You're supposed to SAVE MONEY so you don't depend solely on SS". To that, I say two words: MEDICAL DEBT. Just try to save enough to retire, and even with good insurance, medical debt will suck you dry eventually.

[@nickiemcnichols5397]

Our now deceased neighbor mortgaged the house to pay her dying husbands medical bills. She didn’t have a pot to piss in. She had a massive heart attack last year. I think the financial stress killed her. We used to take food to her almost every time we cooked.

[@fritzforsthoefel8031]

Are you kidding if you draw out 1500 a month in ss till your eighty that's over two hundred thousand dollars and you did not pay that much in ss taxes and the average person draws out three dollars for every dollar paid in medicare taxes who do you think makes up the difference our children will because the difference between what you paid in and what you draw out is added to our enormous unimaginable debt our children will have to pay for and you want more our children will inherit a bankrupt shell of a nation because of people like You wanting more without careing it's our children who will suffer vote out handout Democrats before it's to late our childrens future depend on it

[@karenstauffer1524]

@fritzforsthoefel8031 if, for instance, all income were subject to SS tax- that could be part of the answer. And what about the money that was "borrowed " from the SS fund and never returned? Then there's universal healthcare, which would cost us less in taxes than we now pay to insurance companies, and give everyone better care. That would take care of the medical debt problem. At 67, I still work to supplement my SS income, but I probably won't be able to work forever. We saved what we could, but a 12 year bout with Lyme disease was costly even with insurance, and I lost my husband two years ago so I'm on my own.

[@fritzforsthoefel8031]

The money borrowed from ss was done by Johnson to help pay for medicade Democrats wanted healthcare for the poor they did not want to pay for it do you want to do away with Medicaid

[@fritzforsthoefel8031]

Universal healthcare by government would mean we would all have the same level of healthcare as the va which is government controlled result of that for a while it ranked last in medical care and high cost when we have government run healthcare for all everyone can have poor healthcare

[@eliseleonard3477]

At the point in my career when I hit the cap, I wondered for the first few years why my paycheck was a little bigger at the end of the year. It happened earlier in the year as time went by. It was crazy! Just as I was in a position not to need the extra few $, I became exempt from paying into social security? What a stupid and unfair policy. I think the goal on the right is to MAKE Social Security insolvent.

[@lylecosmopolite]

Keep in mind that there is no cap on the 2.9% wage tax that funds about 10-15% of Medicare. Also, married couples with over $250K of investment income pay a 3.8% tax on their investment income in excess of $250K. Only the FICA tax is capped, and I am for raising that cap by at least S100K/person/year.

[@SandfordSmythe]

Many of your peers would disagree, especially if you want your money to go to others. That was never the purpose of SS to be welfare

[@genesmith4019]

I believe the Social Security Administration would accept an additional payment from you.

[@lylecosmopolite]

@@genesmith4019 Just how would I make an additional payment?

[@genesmith4019]

@@lylecosmopolite I don't know. Contact them.

[@user-vk7cp1op9p]

Thank you. I did not know it, but will share with others in the future.

[@benqurayza7872]

Scratch a Republican politician and you'll find someone who wants to gut Social Security and Medicare.

[@buffuniballer]

It should never have been a mandatory program in the first place. Make it opt-in. If people want to pay in to get benefits, let them choose to do so. If they don't, freedom to make that choice as well. Everyone wins. Those who think the program is a good idea can freely choose to pay into it. Those who don't think it's a good idea or well run keep their 6.2% (or 12.4% if self-employed) and do not receive any of the benefits of the program. The problem is forced participation. I'd never prevent someone from choosing to participate. Yet there are those who wish to force others to participate, such as Dr Reich. The people he cites will never get a dime from Social Security. Expecting them to pay into the program is most selfish. If they want to, they are free to send checks. If they don't, then that's okay since they will not get benefits on anything other than income up to the cap. And even those benefits are reduced in a relative manner due to the bend points. Some income is paid at 90%, some at 32% and some at 15% IIRC. What's far about continuing to tax someone at the same rate, but give some 4x the benefits per dollar paid in taxes? The cap is far more fair than the bend points, which reduce the relative benefit for higher wage workers.

[@lifeisagift.cherisheverymoment]

@@buffuniballer Some have no issue forcing all women to surrender their reproductive rights. Some have no issue forcing everyone to pay taxes while giving a privileged few Tax Cut after Tax Cut simply because of the Golden Rule: "Them with the gold... RULE"! Selfish? Yeah, right, Einstein! In life there are countless mandatory programs! Unless you have the genetic gifts that make you one of the privileged few!

[@BradCampbellmn]

Lie

[@buffuniballer]

@@lifeisagift.cherisheverymoment like I said, the left and the right are largely the same. They both want to force others to act as they say they should. Neither is about liberalism or small government. Just left or right leaning authoritarianism. Neither meets the standard to earn my vote.

[@msavina9129]

Mr Reich is adorable and a national treasure.

[@chrisgreco4249]

First, I appreciate the humor with Mr. Reich basking on a beach. I'm just grateful to have a roof over my head, food to eat, and Medicare.🤗 Here's the thing: the fundamental principles that make all forms of insurance possible, of which SS is one, were worked out in 1770 by two Scotsman using quill pens on parchment. It is mathematically possible for any insurer to accurately predict how much money beneficiaries of their policies will draw far far into the future and set their premiums accordingly. It is pure insanity that SS cannot be managed to benefit all Americans far into the future. Only the greed of American oligarchs backed by the Grand Old Poobahs are stopping SS from being properly managed just like every other insurance company on earth. The two Scotsmen founded The Fund for the Widows of Scottish Ministers 250 years ago. It's a $14 BILLION dollar company today. American taxpayers in their prime working years right now must wise up and demand an end to the intentional demise of Social Security while they aren't yet so broke and feeble-minded they can't PAY ATTENTION.

[@jackpleb2360]

When you attack the GOP....lol. no mention of demonic pedophiles in office huh? Vote for the Blue demon pedophiles or vote for the Red demon pedophiles.

[@bobs182]

When Trump ran in 2020, he said that he would permanently do away with payroll taxes if elected. This would defund SS. He did a temporary voluntary delay on collecting payroll taxes due to covid which was a prelude to destroying SS.

[@nedstubblefield8853]

Since Trump won re-election in 2024, Mike Johnson the speaker of the house is talking about cutting Social Security by 30%.No one is talking about the fact that Social Security is funded by payroll taxes that the empolyee and the company pays. Most of Security Security funding is from this and not from the federal budget. Social Security doesn't add to the deficit! Why isn't everyone talking about this fact?

[@houndmother2398]

I need my social security. All of it.

[@fritzforsthoefel8031]

Under Biden record levels of debt record levels of deficit spending record levels of illegal immegration if Trump does win he will have quite a mess to clean up democrat handouts that Democrats won't pay for are destroying us vote out handout Democrats before it's to late our childrens future depend on it

[@mariancruceru6826]

GOOD LUCK!

[@richardjosephnovak]

If you oay into it you will get paid.

[@janicewallace3728]

As a permanently disabled from birth user of social security and social security disability, I worry about the constant talk about it falling apart. the reason it's falling apart is because they keep sabotaging it. Though they feel it unlikely, even the rich should be paying into it because they might need it someday too. Isn't that the point?

[@reichpanzer2418]

How much have you paid into it versus how much have you collected? If you've collected more than you've paid in, you should have nothing to complain about.

[@janicewallace3728]

@@reichpanzer2418 Wow, what a not so very polite or subtle way to tell me to shut up, be grateful and not expect the system to be taken better care of.

[@SandfordSmythe]

The rich only contribute up to the cap and they only accrue benefits up to the cap. They are paying their own way.

[@jeoffreylocke3121]

He's right, you're a welfare queen. And are a prime example of why it's failing.

[@johnyves1246]

Nice outfit Robert ! As always thanks for keeping us informed about this mess.

[@blvany]

Very clear and concise. He nailed it.