Update: As part of the recent budget deal, Congress repeated an adjustment it has used in the past, temporarily shifting tax revenue from Social Security’s retirement program to keep the Disability program fully operational. In 2016, 2017, 2018, Social Security Disability will be receiving a larger share of the overall Social Security tax. 2.37 percentage points of payroll vs. 1.8 percentage points normally.
So as America produces more “adult babies in diapers” and pays out for blacks who are normal IQ blacks (aka learning disabled) we get 50 million on disability, and that sucks the social security general fund dry, which is already scheduled to run dry by 2035.
Expect congress to move more and more money from the general fund to support the pink hats and antifa basement dwellers, which will move the general fund to run out of money faster, probably by 2030.
and that will mean raising the social security contribution yet again, this time to 20% of income. Will americans suffer 80% taxation? We will see. We will see.
As Millions of Millenians got the “I dont feel like working” sickenss they plowed onto social security disability roles in huge numbers. The human “adult baby” sleeps safely in his crib, never having to work a day in his life. The Octomom’s kid with the lisp gets free money also. The gloomy Antifa kid who is depressed also cannot work and gets his paycheck.
According to the Social Security Board of Trustees, the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds will be depleted in 2034.
When this happens, only 77 percent of benefits will be payable. That estimate is no change from last year’s estimate.
In addition, the Disability Insurance trust fund will be depleted in 2028, which is an improvement from last year’s estimate of 2023. Once that fund is depleted, 93 percent of benefits will be paid.
Right now, Social Security continues to take in through revenue more than it pays it through benefits, which is expected to continue until 2022. Once Social Security begins to pay out more than it takes in, it will be forced to liquidate the assets held by the trust funds. Except there are no assets.
In 2016, Social Security generated $957 billion in income. It only paid out $922 billion including $911 billion in benefits to 61 million beneficiaries.
By law, the tax revenue is divided between the disability trust fund and Social Security’s much larger retirement fund. The retirement fund gets about 85 percent of the money, and the rest goes to disability.
Over the past 20 years, the fund balances have gotten out of whack. The retirement fund has enough money to pay full benefits until 2035, according to the Social Security trustees. But they disability fund is projected to run out of money in fourth quarter of 2016.
Now many people think that the 2% ssdi tax on their paychecks goes into a separate disability payment fund. But with millions of blacks automatically qualifying for disablity by virtue of being born “learning disabled” aka with black IQ, and other white wuss outs and adult babies plying onto disability rather than working and paying in, the sad sick truth is that the GENERAL SOCIAL SECURITY FUND will have to pay out to cover their diapered asses. That means YOUR RETIREMENT. It’s coming. Its just a decade away. All those letters of promised payout from the social security administration… well shred them! they are useless when the fund goes broke.