Alert! Baby Boomers Will Not Collect Full Social Security
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1:36
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This is misleading.
1] Loss of surplus subsidy means increased taxes to fund general fund right away. That begins as soon as the extra 30 million starts to retire from its peak earnings years. (Began.)
2] FICA running net negative cashflow also means increased taxes, so general fund can pay those IOUs. That is what begins in 2018.
3] 2041 is when the general fund will have theoretically paid off the last IOU. That is not when 'new taxes' will be required. That is already starting.
fredianoB 3 years ago