Why Social Security Is The Biggest Scam In US History

Since 1985, the Social Security Board of Trustees has been warning us that Social Security will not be able to pay back all of its beneficiaries when the baby boomers retire. However, for decades, their warnings have largely been ignored as Social Security was profitable. But, 2019 was the first year that Social Security paid out more than it took in and this deficit is only expected to get worse over the next few decades and might result in social security benefit cuts and/or increased social security taxes. More than struggling to pay out its beneficiaries, Social Security imposes 12.4% taxes on everyone regardless of whether or not they want to participate. This is especially a burden to minimum wage workers and low-income families. And even if contributors get back their investment, which is unlikely, they would have lost hundreds of thousands of dollars to inflation and millions in lost potential. This video explains the various downfalls of Social Security and why Social Security isn’t as beneficial as many people perceive.

Resources: https://docs.google.com/document/d/1f...

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