Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

What will the outcome be if there is no social security increases or total collapse of ss all together.?

would just like to hear opinions/Thank you ,but don't be silly please alot of people would be at risk maybe even you.

7 Answers

Relevance
  • 1 decade ago

    This year, with no increase, it will mean more people struggling - because things like gas and food are still going up. I don't think SS will ever collapse, because it's too politically popular. Though the Republicans railed against it when it started, they and the Democrats would both be run out of office if they let the system start to tank.

    BTW, an easy fix would be to lift the cap, where people don't pay any SS tax on annual earnings over $100,000.

  • 1 decade ago

    No COLA means the government pays out less next year (if in fact prices are higher). This no-increase means people will subsist on a lower level as prices rise; SS balance actually is dragged out longer this way.

  • 1 decade ago

    People usually stopped investing their money once a ponzi scheme collapses and gets fully exposed for what it is. I doubt if people are still sending their money to Bernie Madoff. But then again the government makes us give SS our money.

  • 1 decade ago

    Lotta ppl are going to want their money back,...paying into something without receiving the benefits...going to cause a lot of problems. Its the biggest ponzi scheme ever. My money is going to some elderly person and some kid is going to be paying for me in the future.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    the outlook for the you kids is going to be bad you will have to work till your 75 before you get ss with no money to save once they put in this health care bill into effect you will be paying 60% of your wages

  • 1 decade ago

    It won't happen because Washington will just raise everyone's taxes to make up for the short falls.

  • Sean
    Lv 7
    1 decade ago

    A lot of people would have their elderly or disabled relatives living with them.

Still have questions? Get your answers by asking now.