Social Security Trust Fund Facing Collapse: Raise the Cap on Contributions
The Social Security Old-Age and Survivors Insurance Trust Fund is projected to be depleted by 2033, at which point 77% of scheduled benefits will be payable. The combined Old-Age and Survivors Insurance and Disability Insurance trust funds can cover benefits and administrative costs until 2034, enabling payment of 81% of benefits. The Disability Insurance trust fund remains solvent through at least 2099. These projections incorporate the Social Security Fairness Act, but exclude the potential financial impacts of recent tax proposals, tariffs, and deportations.
John Q. Hosedrinker