Senator Bernie Sanders Wants the Wealthy to Pay Their Fair Share to Save Social Security, but There's a Problem -- They Already Are

America's leading retirement program, Social Security, is on a collision course with disaster.Based on estimates from the latest annually released Social Security Board of Trustees Report, the program is staring down a $25.1 trillion (and growing) funding shortfall over the next 75 years, as well as the prospect of the Old-Age and Survivors Insurance trust fund (OASI) exhausting its asset reserves by 2033. This is the fund that doles out monthly benefits to more than 53 million retired workers and approximately 5.8 million survivors of deceased workers.To quickly clear up any confusion, Social Security isn't at any risk of going bankrupt, becoming insolvent, or halting payments. If you qualify for a traditional benefit, you'll still be receiving a monthly payout. But the existing payout schedule, including near-annual cost-of-living adjustments (COLAs), is very much at risk beyond 2033.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool