Pragmatic Rules: Social Security Shortfall Poll Results

December 12, 2024 — The results are in from last week’s instant poll, and they have a practical bent. The question to be voted on was, “What do you think will happen when the Social Security Trust Fund Runs Out of Money in 2033?”. We received over 150 votes, which gives us a good sample of what our Members are thinking (thanks to all who voted)!

The winning option was definitely pragmatic – 28% voted for “Payroll taxes increased and/or change to maximum earnings ceiling.” This is certainly a practical solution, one that we at Topretirements definitely agree with.

Coming in second was a little more pessimistic option – “Age for benefits raised with benefits cuts”. Some 20% of responders chose that option. If this one happens, a lot of people won’t be happy.

After that the votes trailed off (see chart below). Garnering the least votes was the optimistic option that “Congress will fix from general fund – no cuts”. In our opinion, this option is a crap shoot – depending if in 2033 there is an Administration and Congress that wants to cut costs or make friends.

Bottom line: We tend to agree with the write-in comment, “All of the above” – its a complex situation. Something has to be done, and Congress is running out of time to fix it. A handful of write-ins worried that Republicans will make cuts to the program.

Your opinion. We have been having a really interesting discussion in the Blog article announcing the poll. To keep the conversation going in one place, pleas let us know your additional thoughts there (you can also cast your vote there if you haven’t already).