Tim Pool recently asked Senator Rand Paul about potential solutions to save Social Security, particularly in light of concerns over the program’s long-term sustainability. Pool pointedly referenced the benefits Joe Biden’s administration has provided to illegal immigrants, asking, “What do we do?”
Senator Paul responded,
> “Well, with Social Security, you’re going to have to start receiving it at a later age. I’ve said the age has to go to 70. In the early 1980s, we went from 65 to 67 over about a 20-year period. It’s not pleasant news, but it’s the only thing you can do.”
He continued by discussing the alternative of raising Social Security taxes:
> “You could also raise Social Security taxes dramatically. Right now, you pay 15% total — 7.5% from you and 7.5% from your employer. But really, you pay 15%. If you want to keep Social Security the way it is, you would need to pay 25%. Most people don’t want that. And most politicians say, ‘Well, gosh, that’d be devastating on the working guy to have a 25% tax on everybody.’”
Ironically, Democrats often accuse Republicans of trying to dismantle Social Security, yet they have historically been responsible for increasing taxes on the program and expanding welfare benefits tied to it. Today, some of these benefits extend to illegal immigrants—a contentious issue among many Americans.
To be fair, both political parties have treated Social Security as a personal ATM to secure votes rather than solely focusing on its original purpose.
As someone who paid the maximum Social Security taxes throughout most of their career, the author questions, “Where did my money go? It was supposed to be only for the elderly and handicapped.”
This ongoing debate highlights the challenges involved in preserving Social Security for future generations while balancing the program’s financial realities and political pressures.
https://www.independentsentinel.com/rand-paul-describes-the-downfall-of-social-security/
