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- cross-posted to:
- [email protected]
Summary
At the first meeting of the DOGE Caucus, a new congressional group focused on government efficiency, Republican Rep. Greg Lopez stated that cuts to Social Security and Medicare are likely “on the table” as part of debt reduction efforts.
The caucus, led by Elon Musk and Vivek Ramaswamy, aims to slash government spending, raising concerns among advocacy groups about potential attacks on anti-poverty programs.
Critics, including Social Security Works, warn the caucus may push for privatization and benefit reductions.
This comes despite Trump’s prior commitment to protect these programs.
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‘Member when Dark Brandon called republicans out on this in his state of the union address and they all booed and denied it?
Pepperidge Farm ‘members
It’s funny, I listened to Steve Bannon’s war room the other day and he was demanding that they not touch social security and go after the elites and the NGOs instead. Can’t imagine this will play well with the voters that swung towards the republicans
Eat those faces or at least scare the hell out of those faces, my pretties.
The House R’s have a very tiny majority and their constituents will not be happy about this idea and will let them know it. So I feel like they won’t be able to get the votes to do it. I also think they’re going to prioritze things like more tax cuts for the wealthy and corporations first, as well as the border stuff, before they would get to that. Ya never know, but that’s what I’m hoping for.
A huge, mouth watering steak walks up to you and says, “There’s no more food.”
That’s rich.
ill see myself out
Thank you, I couldn’t think of a better analogy
It’s funny at this point. Either the rich pay their share or we Mangione them. Tick tock musky. Tik fuckin tok.
I’m legit surprised some big stock brokerage or finance firm hasn’t loaded up to the tits on Tesla short positions and then sent in a couple of Luigi’s.
Wouldnt the company be more profitable without his interference and huge salary/bonus?
Don’t worry, the cuts will drain social security just in time for when you go to collect. Current recipients will go un affected. I have no insider knowledge, I just understand that corporate America hates my generation.
Yes, they want to roll back the entire New Deal and have corporate serfdom again. They have been saying it for years and now they have their chance.
Hope everyone remembers to not negotiate with capitalists next time we have a labor movement like we had in the early 20th century.
Friendly reminder that Social Security is a separate government program that funds itself.
What Musk is talking about is stealing from Social Security in order to cut taxes elsewhere (namely cutting taxes for people like Musk).
That’s not completely true. Social Security is supposed to fund itself, however it’s currently facing a funding shortfall with current estimates that it will be depleted in 2035. There are many suggestions on how make this program solvent, including bolstering it with general funds.
That’s not completely true. Long ago they put it into the general fund. There is always a shortfall in the general fund. Before they put it in there it was solvent, and if they wouldn’t have it would be completely solvent today.
It was already stolen. They want the rest.
I think a good start would be to stop allowing Republicans to raid Social Security for quick cash, like they’ve been constantly doing since the Reagan administration.
But then how could they argue it’s insolvent‽
How does it fund itself? What’s the income? Just Social Security Tax?
Another thing about the tax is that there is a cap on the amount you pay into it https://money.usnews.com/money/retirement/social-security/articles/what-is-the-social-security-tax-limit. Meaning it’s a regressive tax where lower income people pay more than wealthy people (not to mention that many wealthy people may not have traditional income and pay no taxes for this).
Yes, it’s a payroll tax. Your paycheck may show how much you are paying into Social Security. This is money meant to help you and others after retirement. Musk wants to take that money and instead use it to fill unrelated gaps in the federal budget, gaps caused by Trump’s tax cuts for the very wealthy.
Holy shit I never realized it until you explained it like this. Thank you, and also we are fucked.
This is one of the rare cases where I want to laugh at the silly US, but can’t because our “scial security” (we call it “retirement savings”) is being missapropriated for general funds as well :(
I just this year set up regular investment (part of my paycheck) into various funds to save for retirement privately.
I just this year set up regular investment (part of my paycheck) into various funds to save for retirement privately.
Social Security got the structure it has after the Great Depression wiped… well, you know. Everyone. Out.
I’m sure your private equity will be run much more responsibly throughout your life though, no need for some big ol’ stupid government to guarantee your retirement or anything. Carry on!
Social Security fund invested in government bonds, so the interest from that goes into the fund.
To be fair the budget deficit was there before Trump. His campaign promises are going to increase it, but they can offset that partially with spending cuts. Also, the government has been using money from the Social Security fund routinely, again nothing new under Trump. They just count it as an internal debt. According to Wikipedia, by 2022 it’s been already about 20% of the fund “borrowed” by the government.
I know a lot of bitter Boomers with bad health and nothing to lose, this could be an interesting year.
Most of them are too stupid to understand how this affects them.
When it comes to intelligence, standard deviation applies evenly to all age demographic. You ageist asshole.
Lovely how this incredibly wealthy person is laser focused on making things worse for poor people. I suppose it’s the usual ploy of making people as desperate as possible so people like him can prey on us more easily.
Wow! Who woulda guessed they would immediately reneg on a campaign “promise” and immediately attack the side of the population that most reliably votes for them?
Surprisingly enough, retired people were close to evenly split. Trump mostly won due to Gen X’ers.
And they still will!
At least until the next pandemic
“But they won’t take away MY social security…”
For most boomers, this is true. It’s genx and younger that will suffer.
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Interestingly enough, social security’s disability trust fund has enough money to continue paying out until 2098; it’s the old person part that’s running out.
It should also be mentioned that it wouldn’t be running out if they didn’t cap the taxable income at $168,000. If you make $168,000 a year you pay the same social security tax as every millionaire and billionaire. BuT iTs InSoLvEnT
Hahahahahahahaahahhaahahaaaaaaaahhahahahaa
