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Old 05-31-2020, 12:16 PM   #30
JPhillips
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Join Date: Nov 2002
Location: Newburgh, NY
It won't go broke unless they repeal FICA taxes. If there's no trust fund and taxes aren't raised, benefits will still be paid at 79%. The pandemic won't change the amount of FICA tax revenue in a decade. The SS folks have been historically pessimistic about those numbers, too. I remember when the trust fund was going to run out by now and the % of benefits was @70%.

What Imran says about old people is important, too. That's why "reform" bills for SS always kick in for people in their fifties and younger. Nobody has the courage to cut benefits to current retirees.
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