Your Social Security Will Be Cut - Here's Why!

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Опубликовано:

22 окт 2024

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Комментарии : 100

@sailfishski Час назад

Not one dollar for foreign aid till commitments to USA citizens met for all needs! Vote out everyone who does opposite!

@lmelior 5 минут назад

1. Foreign aid is in that Other category, so it's a drop in the bucket compared to the deficit. 2. A large portion of what we call foreign aid goes to US companies to deliver supplies and equipment to foreign countries, and that company pays its US-based suppliers and US-based workers, which then pay taxes themselves, etc. 3. Some of the other foreign aid has a decent ROI and/or has non-monetary benefits, e.g. it only makes sense to send aid to foreign countries to help contain new infectious diseases and develop treatments. Not saying it doesn't need to be cut at all, but there's a reason no serious politician who cares about the country advocates for such things.

@Sondan1988 4 минуты назад

Great !! You cut all foreign aid and you saved $63 Billion...now what do you do with these other $1,770 Billion of deficit ?

@68gtxman 3 часа назад

It’s not 1.833 Billion. It’s 1,833 Billion, which is 1.833 TRILLION.

@scootertooter6874 3 часа назад

Thats what it looks like to me as well...

@solutions553 3 часа назад

1trillion,833billion

@sbkpilot1 2 часа назад

yep 2 Trillion not Billion, simply astounding

@thienthan324 56 минут назад

1.833 billion = 1 billion 833 million ???

@DPTrainor1 56 минут назад

I have been hearing the Social Security fear mongering statements from politicians for 50 years. Never happens.

@Liberty-tn3rs Час назад

The interest payments are the key to controlling this mess , and yet will give billions to Ukraine .

@blainebates1067 Час назад

There should not be a cap on taxable SS income, what ever income a person makes the total should be SS taxable.

@turnertruckandtractor Час назад

Agree but that is just a drop in the bucket and will not make much of a difference but yes that should be done though.

@bryansmith9350 3 часа назад

How about we cut back on all these freebie entitlements that'll be more than enough to cover the deficit these lazy bums?

@PatKaufman-v8q Час назад

They paid 900 billion because they forgot about us and to make it better they paid them off. The insurance plans for seniors is worse this year.

@dforrest4503 2 часа назад

Why is there $900 billion being spent on health beyond Medicare?

@user-roadwander 28 минут назад

Google it for eye opening facts.

@richb1576 Час назад

Easy fix. Use money we send to other countries to take care of Americans.

@Sondan1988 14 минут назад

$56.3 billion in 2021 $70.4 billion in 2022 $63 billion for fiscal year 2023 ...your easy fix isn't fixing anything though. $63 Billion doesn't fix a $1,833 Billion deficit because $63 Billion is only 3% of that deficit. Now what do you cut to 'fix' the other 97% ?

@lmelior 2 минуты назад

Jesus, you could at least look at the numbers. The money we send to other countries would save us a couple billion at most, as most foreign aid is not money. You literally just proposed a "fix" that covers less than 1% of the deficit.

@coreytrevor1311 Час назад

Military spending is hugely under reported. It’s probably double if you consider all the dark money programs.

@penelope5500 4 часа назад

I don't anticipate SS being cut. I think something will be figured out. I just hope it isn't turning it over to Wall St.

@cutehumor 3 часа назад

I'm 100 percent in US Stocks and will be rewarded handsomely, if SS is investing in the stock market like HSA accounts 😁

@Ethan-bu2zy 3 часа назад

Privatizing Social Security could actually be a good thing. Here’s why- as it currently stands, if you contribute for 40 years and then die before reaching retirement, your family/heirs receive nothing. With privatization, beneficiaries could be designated and your account passed to your heirs.

@cutehumor 3 часа назад

@@Ethan-bu2zy also, people might not take SS at age 62 and take it at 67 or 70 because they don't want to die at age 62 and get 0 bucks. People like me don't have to worry about dying early and spending my 401k down and only getting like 2 years of SS money, if I delay to age 70 and die at age 72, if invested like HSA account, that SS money invested would go to the heirs

@Ethan-bu2zy 3 часа назад

@@cutehumor my dad paid into SS for 35 years, retired at 55 and died before ever collecting a dime.

@thomasmoshier3920 2 часа назад

They’re already addressing the problem Penelope. Taxable SS income went up by 4.4% to 176,100.00 in 2025. Up from 168,600 in 2024. While COLA’s went up just 2.5% for 2025. Look for this trend to continue.

@denisep.98 4 часа назад

Josh, that statue is Alexander Hamilton. Apropos that it stands in front of the Treasury.

@DanStewart-d6i Час назад

Quit sending money to other CUNTRIES!

@turtle522 2 часа назад

The deficit has been a bi-partisan effort over the years.

@silentnot4812 4 часа назад

I see a lot of categories where savings could be made. Think how much of this is going to corporations like pharmaceutical companies. Just looking at this chart shows how many stupid things we spend money on in an endless cycle. Instead of making people take responsibility for their health, we just keep spending more, keep people from becoming doctors in order to keep pay high, put everyone on medications, run every test no matter the level of risk, and then train everyone to demand more money be spent on healthcare.

@coastalhillbilly3419 3 часа назад

Going to live and go back into the ground as healthy and as naturally as possible

@cutehumor 33 минуты назад

McDonald’s on every street corner doesn’t help either 😂

@CalmerThanYouAre1 Час назад

Great video, so many great points. SS won’t be cut, they’ll just print more money and continue to deficit spend. So it’ll be a hidden cut via more government-induced inflation that isn’t honestly reported by the Fed and a corresponding decrease in the real purchasing power of your nominally “uncut” SS benefits.

@johnscott5799 2 часа назад

The threat of SS cuts is the same concept pitched by CFP’s that sell the fear of missing out on stock market gains to keep their AUM balances and revenue as high as possible. The govt. would love for everyone to take SS at the low age 62 payout rate. The threat of ss cuts is their way of selling this idea.

@scoobedoo5243 14 минут назад

Sorry everyone, I'm retiring at 56 so I'm hurting the effort to keep SS liquid.

@RetNavyChiefBTC 4 часа назад

What the hell is income security?

@brucesmith9144 3 часа назад

Welfare

@massacmongo995 Час назад

Why ??? Congress has Looted it for years

@rajeshamara Час назад

Josh you kept on saying 1.833 B. I think you meant to say 1.833 T

@user-roadwander 11 минут назад

Thanks for your informative rant. Just poking fun.

@thomasmoshier3920 2 часа назад

Since 2018, the maximum taxable SS income has gone from 128,400 per year to 176,100 annually in 2025. That’s a 47,700 difference. What this does is increase the SS trust fund without penalizing low income workers. Instead of raising the SS tax of 6.2% for all workers including low income earners to offset the deficit projected for 2035. It causes higher earners to pick up the slack. And it’s working. It’s been projected that the SS trust fund deficit for 2035 is down from 25% to about 18%. With more increases for higher earners and the last of Boomers retiring and the early Boomers dying off in the coming decade. This will be an easy fix.

@glockman99 Час назад

Great video

@jamesalias595 3 часа назад

The United States imports nearly 4 trillion per year, but customs duties are only 77 billion, so about a 2% tax, just doubling it wouldn't make a dent in the debt, but it's probably too low. So when Trump talks about Tariffs, it won't fix the government spending problem. The government has a healthcare spending problem and a debt interest problem. Healthcare costs need to be slashed, that includes all the generous money spent on Obamacare and make Medicaid part of Medicare, require cost share. When it cost nothing under Medicaid, people just go to the emergency room when they feel like it.

@lifesIronyboard Час назад

It's odd that the one system where we contribute to a supposedly earned benefit, is the one that is up for cutting. I am amazed at how many people state we can't cut any program, and that program must grow at X percent a year, or some group will face catastrophe, but Social Secuity is not one of those?

@johnscott2746 3 часа назад

I read an article where they are already floating the idea of cutting benefits for higher earners. What was proposed was setting the top benefit amount at $2040 and not cutting the lower earners benefit at all. I know it’s probably not going to happen but imagine waiting until 70 to draw and then a couple of years later they tell you that your $3500 benefit is going to be reduced so that the guy getting $1500 doesn’t have to get a 20% cut!

@athletikonaol 2 часа назад

Because the "bend points" represent a flattening curve, they're already ripping off the higher earners. The objective of all communists is to make everyone equally poor. You could adequately compensate lower wage earners without stealing from those higher by investing funds in appreciating assets (such as an index fund). They are not. They're stealing all the excess. The destruction of this system is intentional. So as to leave everyone destitute and dependent on government. This is how communists take over.

@thomasmoshier3920 2 часа назад

That won’t happen. It’s the higher income earners that support SS. For 2025 that’s everyone making 176,100.00. And it will continue to go up over time. Everyone will get SS. I don’t see them raising the maximum age limit either. What I see happening is they’ll raise the minimum age limit from 62 to 64 or 65.

@johnscott2746 29 минут назад

@@thomasmoshier3920I agree with that. When they raised the retirement age to 67 they should have made it 64 as the youngest age to start collecting. I don’t know what that would have done to the longevity of the program but it just seems logical to me.

@Panzer4F2 4 часа назад

I think the statue at The Treasury building is Albert Gallatin. He was the fourth and longest serving Treasury Secretary of the United States (1801-1814).

@markmethner8839 12 минут назад

Alexander Hamilton. Started the Treasury

@erictcarrollcarroll1108 3 часа назад

I believe Josh Scandlen said one time to increase social security withholding one percent, or even half of a percent, on both sides, employee and employer, "done and done". In addition, while they're at it, why not reduce every single line of that budget by half to one percent? If we need more money to pay for our electricity in our homes we have to reduce our spending on another category if we want the lights to stay on. Those are some tremendous dollar amounts. Surely a small portion can be moved around.

@frb7603 Час назад

Why not just increase inflation and under state the cola for years and magically we all get a cut in real SS benefits and politicians get to save face.

@fredholley6248 2 часа назад

Even so, I've still figured a 25% 'cut' in my SS after 2033 into my numbers, just in case. Doesn't happen? BONUS!

@penelope5500 Час назад

However anyone feels about the money going to Ukraine, it is worth bearing in mind that a lot of that money stays in this country. In the form of jobs, like those at Raytheon, w/ those people making good money & paying FICA.

@cutehumor 32 минуты назад

Andrew Biggs is recommending a cap of 2050 dollars of ss payments by executive order of the president if congress doesn’t pass a new ss law by 2033 🥲

@johnscott2746 18 минут назад

@@cutehumoryea I read that too. I think it would turn Social Security into a means tested welfare program. And there are a lot of different proposals to fix the shortfall so I hope it never comes to that.

@coastalhillbilly3419 3 часа назад

After all my research, I’ve come to the conclusion waiting for social security to 67 or later would put more money in our pockets but even if the government assured us of no cuts I’m collecting at 62 for sure 100% with no doubts, reasons: 3. 62 to 70 I can do and see things I likely won’t be able to do after 70 2. Can’t leave social security to my kids #1 by far, I don’t want to rely and be beholden to the government, my money is my autonomy

@JBoy340a Час назад

Don't forget IIRMA if you even have a thought about working after 62. You could lock in lower SS payments and get that low payment decreased even further.

@burkhardbohn720 Час назад

Who pays for it?

@bclov Час назад

Let Musk go after government waste. 5% could easily be cut in total. in 2024 we spent $6.752 trillion. A 5% cut would be $338 billion. To breakeven we need a 25% cut. Probably will never happen. The dollar will just slowly devalue. Let them keep moaning about social security. They want to divert our attention.

@bwhite9993 4 часа назад

What is "Income Security"? I never felt like i had income security.

@brucesmith9144 3 часа назад

Welfare

@jeffraines414 3 часа назад

What is income security?

@oldroscoe2590 2 часа назад

10/21/2024 Uncle Sam owed .... $35,772,750,214,886.62

@curtisstewart3179 17 минут назад

Old people vote.

@davidpeterson552 4 часа назад

Musk and the Dept of Gov Efficiency.

@scootertooter6874 3 часа назад

Would love to see him get in there and make recommendations about how/where to clean house...and get our affairs in order. Would LOVE to see us run the country like a business....or at least like a responsible individual-- vs. a teenager with their dad's credit card.

@brucesmith9144 3 часа назад

Surprised to line item for U crane

@JBoy340a Час назад

Most Ukrainian add is in the form of material. Surplus tanks and aircraft. When we give them away, we no longer need to pay to store and maintain these antiquated weapon systems.

@masterlee4370 2 часа назад

You need to look at the big picture Josh. It's important that we take care of other countries and the millions of illegals not vetted coming into our country. It's not about us. Stop being so selfish.