As of late 2024 and early 2025, approximately 74 million Americans received Social Security benefits, with the majority being retired workers, and the program is a critical source of income for nearly 90% of people over 65. A significant portion of older beneficiaries, particularly those with lower incomes, rely on Social Security for more than half of their income, and a smaller but substantial group depends on it for 90% or more of their income.
Among the many concerns people preparing for retirement often express are worries about the fiscal strength of the Social Security program. That’s because - without congressional action - Social Security’s Old-Age and Survivors Insurance (OASI) trust fund is only projected to be able to pay 100% of recipients’ total scheduled monthly benefits until 2033.
“At that time, the fund’s reserves will become depleted and continuing program income will be sufficient to pay 77% of total scheduled benefits,” according to the Social Security Administration. For obvious reasons, a sudden 23% cut to one’s Social Security monthly paycheck would significantly disrupt a household’s financial plans. There is no way around this because the Federal Government cannot, and most likely will not, back the payouts without substantial other tax increases. It's a lose/lose for guys like me who'll be well in to my 80's - if I'm still kickin'...
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On the other end of the spectrum, they also voted that you cannot make fun of bald women - only bald men and dogs who've had their asses shaved...
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Christmas tree in the Southern California Edison
General Office lobby, 1957
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Is it time to start thinking
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on putting the tree up last night..
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Well the wife put just the tree up cause I never could get the damn thing up in the attic with the rest of the decorations. Now it will sit there undecorated till I can get some help getting stuff out the attic.
ReplyDeleteThe tree looks good!
ReplyDeleteWhen my grandmother passed, my dad and his sister had to sell the family farm to cover the tax bill. It's hard enough to hand the farm over to the next generation since there are far easier ways to make money. Add in the various taxes, and it's no wonder Big Ag gets bigger each year.
ReplyDeleteWanna bet the people who wrote the tax law have a hand in Big Ag?
DeleteCombine facial recognition, hyperscale data centers, and automated checkout (no price labels, just bar codes) and you'll get prices that individually adjust to your capacity to pay.
ReplyDelete