The American Social Security system is 85 years old today. If funding and payout trends continue, it’s going to be in serious trouble when it turns 100. The Social Security Administration says it will take in only 75% of what it pays out in 2035.
Congressional candidate Dani Brzozowski says the trouble will start sooner if Pres. Trump’s payroll tax cut goes through.
Trump says the money will be made up for from the general fund. Brzozowski says the fund would last a lot longer than 15 more years if high income earners weren’t capped at what they pay in. The Social Security Administration says raising the payroll tax by another two percentage points would make the fund last 75 more years.
Brzozowski says more about Social Security in this interview clip: