Congress enacted reforms in the 1980s, raising the full benefits retirement age from 65 to 67, increasing the amount of SS wage withholding, and causing the “Baby boom” generation to not only pay the Social Security benefits of then retirees (in the 70s-2000s), but to also put additional money into a Trust Fund to pay their own future benefits.
But Congress, which is unable to do math, and believed in idiot Paul Ehrlich’s population doomerism, created a system that is no longer sustainable.
Lots of people will be screwed, including the Baby Boom whose promised SS benefits will be cut.
As of 2026, the average SS recipient gets $24k/year. About 6% receive more than $40k/year and less than 2% (included in that 6%) receive $50k/year or more. Beneficiaries do not receive what social media pundits claim.
