Officially 67yo to get full SSI benefits from the US govt now. It's like they purposefully mismanaged the 12% of everything I produced for my entire career.
this post was submitted on 18 Dec 2024
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It wasn't mismanaged, at all.
It was flat-out stolen by Congress.
Or if you prefer to be all polite they took it, and wrote an IOU knowing full well there's no way there'd ever be any money to pay them back without jacking taxes way up, and that's never going to happen. (And even if it did, that's you paying yourself back with new taxes on your old taxes.)
Functionally the same thing, really.
It was managed, just not for his benefit
Officially 67yo to get full SSI benefits from the US govt now.
Your statement is factual, but the context sounds like its new info or a change when it isn't. This was set into law in 1983 and the only recent increase for full retirement benefits is a retirement delayed by 2 months as planned for 2025 (again as part of the 1983 legislation).
Were you unaware that this was decided this way 41 years ago?
They mismanaged having the working class make enough to fund this program properly. But stagnant wages have meant the income to outgoing ratio has dipped to the point where the workers to retirees ratio is endangering the whole program. All while maintaining a cap on how much you need to contribute per year