If Elon and Vivek are successful in cutting the Federal government as much as they think they can, does it set up a scenario where the Federal government doesn't require the SSA and Medicare dollars going into the general fund. That means there's the opportunity to carve both programs out and privatize them.
Pick an age for cut off to the new private SSA and give folks in between that age and retirement the option of which program they're in. SSA withholding continues for X number of years to build up and those dollars go into a private fund. The Feds continue supporting current and near term retirees but then is out of the retirement business once those folks are dead.
It could become the Sovereign Wealth fund Trump has talked about.
I always believed that this should be privatized.
Go back and read I believe it was Galveston Texas that found a loophole in Social Security and they opted out of it.
They're retirees were receiving triple what Social Security paid.
The powers that be closed that loophole real fast.
Alaska did as well, I believe. All state residents get an annual dividend from the resulting investment general fund.
Damn we were screwed.
I thought Alaska residents got their money from Big Oil.
I think that's a part of their investment. They opted out of SS and instead have created am investment fund. Every once in a while the politicians try to raid or end the fund, but Alaskans are fierce about this issue.
Economically, cures are much less expensive than ongoing treatment of symptoms. This alone could save SS, and Musk is all about this type of approach.
SS should be raised.
They can calculate my future earnings for 25 years and pay me out all of it. Same with my VA retirement. That's 2.25 million over 25 years and I'll invest that and make it work. No more administration of the program will save billions alone.
Mass deportation will save Social Security