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Social Security can be saved. Scrap the cap!
(thelemmy.club)
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this post was submitted on 15 Aug 2026
831 points (98.3% liked)
Work Reform
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A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
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- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
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- Higher wages for underpaid workers.
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- Better and fewer working hours.
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Per Committee for a Responsible Federal Budget scrapping the cap would postpone the trust running out to either 2054 or 2058 depending on whether or not those who pay the now higher taxes would also receive correspondingly higher benefits or if the benefits remain capped. So an extra 20 or 24 years since presently the trust is slated to run out in 2034. When the trust runs out, benefits are going to be cut to match the money coming in which would mean about ~20% reduction to benefits.
Good start and punts the issue off for another generation, but it doesn’t quite save social security all the way.