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POLITICS
Republicans Want to Cut Social Security Benefits For Younger People
Will it cost them young peoples’ votes?
Republicans have got themselves in quite a bind and I can’t wait to see how they get out of it. So, here’s the problem. Social Security is going to run out of money in less than ten years.
The obvious solution is to make all income subject to the Social Security payroll tax. Right now, only income up to $160,200 is subject to the payroll tax. Anything over that amount is not taxed. Change that and taxing high incomes would bring in a shitload of cash.
Raising taxes is anathema to Republicans, so the only solution (in their eyes) is to cut benefits.
Republicans can’t cut the benefits of current retirees and those close to retirement because those are their voters. Plus Trump is against it and for some reason Republicans are still thrall to a twice impeached, twice indicted former president.
But if Republicans say that they will cut future benefits for young people, they stand to lose those voters. Plus cutting benefits for people who won’t be retiring for 20 or 30 years doesn’t help the current problem of not enough money to pay current benefits.
