Clearly this payout trend is unsustainable, but what politician dare touch it?
Social Security is not that difficult a problem in theory (at least in comparison to Medicare), except for the politics of it all. Numerous things could be done to put the system in the green.
Possible Ways to Make Social Security Actuarially Sound
Raise retirement age
Raise or eliminate the cap on payroll taxes
Cut benefits
Collect Social Security on personal income
Implement a Tiered Cap structure
Means Testing
Democrats would oppose 1 and 3. Republicans might oppose all but 3. So, how does this mess end if politicians won’t touch it?
Read it all and make sure to take a careful look at the charts.