No party's platform is based on ending or destroying social security, especially not the GOP who gets a broad base of support from retirees. That being said, I've never had much faith in it being around for myself, though I'm 30 years from eligibility). It's possible that productivity boosts from automation and AI could overtime make SS actually sustainable in spite of overwhelming boomer population to support.
The federal tax revenue as percentage of GDP is remarkably stable regardless of widely varying income tax rates over the decades (ranging 15-20% since the 1940s): https://fred.stlouisfed.org/graph/?g=ockN. This holds up no matter which regime (D or R) is dominant, because the economy reorganizes itself around incentives or disincentives created by various tax policies.
Republicans, including some of the current crop, have been making noise about putting the money in the stock market, one way or another, for a long time, and if anyone’s gonna actually do it it’s these guys.
A reminder to everyone: Social Security is NOT a retirement plan, it is an insurance plan. When your 401(k) is cratered by the stock market or your pension goes the way of Enron, SS is supposed to be there to hopefully keep you from being dumped in the gutter. Tying SS to the stock market would not be a smart move.
You're drawing a semantic distinction that doesn't really exist. Insurance for retirement, retirement funding -- it's all the same thing.
A 100% equities (or 100% Enron) portfolio is not the only or best option available to the SSA. And the SS portfolio can't be panic-sold by the individual retiree in a market downswing. Using equities to achieve some additional upside for SS in one way or another is plausibly a reasonable idea.
> It's possible that productivity boosts from automation and AI could overtime make SS actually sustainable
Social Security is funded entirely by payroll tax deductions and invested only in treasury bonds. Bonds which have had very low yields in this century. Guess what you collect less of as automation and AI ramp up? Payroll taxes.
The federal tax revenue as percentage of GDP is remarkably stable regardless of widely varying income tax rates over the decades (ranging 15-20% since the 1940s): https://fred.stlouisfed.org/graph/?g=ockN. This holds up no matter which regime (D or R) is dominant, because the economy reorganizes itself around incentives or disincentives created by various tax policies.