Can't wait for the media to "both sides" this one. 'Democrat critics claim Republicans plan to privatize Social Security. Trump, GOP deny it. The truth? It's complicated.'
Because the revenue from income taxation of Social Security benefits is directed to the Social Security and Medicare trust funds, implementation of the OBBBA will have material effects on the financial status of the Social Security trust funds,” the report stated.
With the recent tax changes, the office projected depletion of the combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds will accelerate from “the third quarter of 2034” under the recent board of trustees’ report baseline to “the first quarter of 2034 following implementation of the law.”
A closer look at just the OASI Trust Fund found its reserve depletion date could accelerate “from the first quarter of 2033 to the fourth quarter of 2032,” while the DI Trust Fund reserves “are not projected to become depleted during the 75-year projection period” when both funds are considered separately.
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Can't wait for the media to "both sides" this one. 'Democrat critics claim Republicans plan to privatize Social Security. Trump, GOP deny it. The truth? It's complicated.'
The Big UGLY BILL..
Because the revenue from income taxation of Social Security benefits is directed to the Social Security and Medicare trust funds, implementation of the OBBBA will have material effects on the financial status of the Social Security trust funds,” the report stated.
With the recent tax changes, the office projected depletion of the combined Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds will accelerate from “the third quarter of 2034” under the recent board of trustees’ report baseline to “the first quarter of 2034 following implementation of the law.”
A closer look at just the OASI Trust Fund found its reserve depletion date could accelerate “from the first quarter of 2033 to the fourth quarter of 2032,” while the DI Trust Fund reserves “are not projected to become depleted during the 75-year projection period” when both funds are considered separately.
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