First, Social Security is stable, and in some respects, improving fiscally. Its trustees expect its combined retirement and disability trust funds to become depleted in 2034, the same as was projected last year. Even then, the program would be able to continue paying out 77% of currently scheduled benefits. Since by then the scheduled benefit would be about 20% higher than it is today, the result would be close to a wash. If Congress wants to avert the cutback, nothing’s stopping it from raising the payroll tax, say by eliminating the wage cap on taxes, currently set at $128,400.

Source: Los Angeles Times June 05, 2018 22:18 UTC