LogFAQs > #958404829

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Topic	Whats gonna happen to all the money young people pay into social security?
Paragon21XX 09/25/21 2:21:16 PM #12:	Social Security is currently a "pay it forward" type of deal. We are not paying into our own social security benefits but rather paying directly for the benefits of those that are already retired and collecting. If it runs out of funds (caused by paying out more than it takes in), it only means that those collecting it will have their monthly amounts slashed so that Social Security breaks even until Congress can get their shit together and fix it like it did in 1983. --- Hmm... <cite>Paragon21XX posted [p:958404829] in Whats gonn... [t:79679185]...</cite> <quote>Social Security is currently a "pay it forward" type of deal. We are not paying into our own social security benefits but rather paying directly for the benefits of those that are already retired and collecting. If it runs out of funds (caused by paying out more than it takes in), it only means that those collecting it will have their monthly amounts slashed so that Social Security breaks even until Congress can get their shit together and fix it like it did in 1983. --- Hmm...</quote> ... Copied to Clipboard!
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