Republicans are calling Social Security an Entitlement not something that you have invested your entire life and money into in order to retire!
Under Trump Administration, the 2026 federal poverty guidelines, a single person in the 48 contiguous states is considered below the poverty guideline at just $15,960 a year — or about $1,330 a month. (ASPE)
But here’s the problem:
That number does NOT represent what it actually costs to live.
A single adult living in Columbus, Ohio, needs substantially more than $15,960 to afford basic necessities.
MIT’s 2026 Living Wage Calculator estimates that a single adult with no children in Franklin County needs approximately $20.93 an hour, or about $43,500 a year, working full-time just to cover basic needs. (Living Wage Calculator)
So when we say someone making $20,000 or $25,000 is “above poverty,” what does that actually mean?
It means they may technically be above a federal poverty benchmark while still struggling to afford housing, food, transportation, healthcare, utilities and other necessities.
Think about it:
$15,960/year = approximately $1,330/month before taxes.
If rent is $1,000+ a month, housing alone can consume most of that income.
And that’s BEFORE food.
Before utilities.
Before transportation.
Before healthcare.
Before a phone.
Before clothing.
Before an emergency.
Before anything goes wrong.
Being technically above the poverty line does not mean a person is financially secure.
It means our poverty measurement is dramatically different from the cost of actually living.
For a single adult in Columbus, I believe we should be talking about a $45,000+ annual income as a realistic starting point for economic stability, not pretending that $15,960 represents a livable income.
We need to stop confusing “not officially poor” with “able to afford a decent life.”
A person shouldn’t have to be one missed paycheck away from homelessness before we acknowledge that they’re struggling.
**Poverty is a statistic.
Economic security is a reality.**
And those two things are NOT the same.
WTF they need to make under $20 per hour and try to live! Minimum wage is under $8!
Our lawmakers are making $174,000 plus per year. Most of them are millionaires! Trump has the most billionaires in his cabinet! So tell me how they can understand how we can or should live on minimum wage or even $20 per hour without any social safety nets!
And then there is Social Security.
Look at the reality for people trying to survive on retirement benefits:
I know a person who receives about $400 a month in Social Security.
There are people receiving about $800 a month.
That’s approximately:
$400/month = $4,800/year
$800/month = $9,600/year
Even a Social Security benefit of $1,640/month would equal only $19,680 a year.
Now compare that with the cost of actually living.
A single adult in Columbus can easily face $1,000+ in rent for a studio, $1,100+ for a one-bedroom apartment, and $1,250+ for a two-bedroom apartment — BEFORE utilities, food, transportation, healthcare, insurance, clothing or emergencies.
How is someone supposed to survive on $400, $800 or even $1,640 a month?
This is why we need to stop treating the federal poverty line as though it represents economic security.
Being above the poverty line doesn’t mean you’re doing okay.
You can be technically “above poverty” and still be unable to afford housing.
You can receive Social Security and still be unable to afford retirement.
You can work full-time and still struggle to pay for basic necessities.
And you can be told you’re not poor while simultaneously being one unexpected expense away from homelessness.
The question shouldn’t be:
“Are you officially above the poverty line?”
The question should be:
“Can you afford to live with dignity?”
For a single adult living in Columbus, $15,960 isn’t a realistic measure of economic security.
$45,000+ is much closer to what we should be talking about as a realistic living-income target.
Poverty is a statistic.
Economic security isn’t a statistic. It’s whether you can afford to live.
America is the richest country in the world. We have enormous wealth, incredible resources, and more than enough capacity to make sure every person can live with dignity.
Yet people are still struggling to put food on the table.
People are still going hungry.
People are sleeping on the streets.
People are choosing between rent and medicine.
People are working and still living in poverty.
People are reaching retirement age without enough income to live with dignity.
That should not be acceptable in the richest country in the world.
We should build an America where everyone has the basic necessities to live:
Free healthcare.
Free education.
Guaranteed housing.
Guaranteed utilities.
Guaranteed access to nutritious groceries.
A guaranteed basic income.
And retirement with dignity.
Not because people are asking for luxury.
Because human dignity should be the minimum standard of a wealthy society.
The question isn’t whether America can afford to do this.
The question is:
What kind of country do we choose to be?
A country where people are left behind?
Or a country where everyone has the opportunity to live, thrive, and age with dignity?
**We have the resources.
We need the will to properly tax the rich and corporations!**
Social Security should allow people to retire with dignity!
Major federal tax cuts targeting corporations and high-income earners have primarily occurred under Republican administrations, while both Republican and Democratic administrations have increased the national debt through a mix of tax reductions, spending legislation, emergency packages, and rising mandatory outlays.
Administrations That Lowered Taxes on Corporations & High Earners
1. Ronald Reagan (1981–1989)
- Major Legislation: Economic Recovery Tax Act of 1981 (ERTA) and the Tax Reform Act of 1986.
- Top Individual Income Tax Rate: Slashed from 70% to 50% in 1981, and further reduced to 28% in 1986.
- Corporate Tax Rate: Lowered from 46% to 34% in 1986.
- Capital Gains Tax Rate: Lowered from 28% to 20% in 1981.
2. George W. Bush (2001–2009)
- Major Legislation: Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and Jobs and Growth Tax Relief Reconciliation Act of 2003 (JGTRRA).
- Top Individual Income Tax Rate: Reduced from 39.6% to 35%.
- Corporate & Investment Taxes: Top tax rate on dividends and long-term capital gains was cut to 15%. While the top statutory corporate rate remained at 35%, bonus depreciation and business tax provisions significantly lowered effective corporate tax liabilities.
3. Donald Trump (2017–2021)
- Major Legislation: Tax Cuts and Jobs Act of 2017 (TCJA).
- Top Individual Income Tax Rate: Reduced from 39.6% to 37%.
- Corporate Tax Rate: Permanently cut from 35% to 21%.
Impact on the National Debt & Federal Deficits
Measuring national financial changes can be viewed in two ways:
- Gross National Debt Addition: The total increase in national debt accumulated during a president’s tenure.
- Annual Deficit Shift: The change in the annual budget deficit from the fiscal year inherited to the final fiscal year signed.
Summary Table: Debt & Deficit Trends (Reagan to Biden)
Administration
Terms
Top Individual Rate Shift
Corporate Rate Shift
National Debt Added (Nominal)
Annual Deficit Trend
Ronald Reagan
1981–1989
70% → 28%
46% → 34%
+$1.86 Trillion (tripled)
Expanded ($79B → $153B)
George H.W. Bush
1989–1993
28% → 31%
34%
+$1.58 Trillion
Expanded ($153B → $255B)
Bill Clinton
1993–2001
31% → 39.6%
34% → 35%
+$1.40 Trillion
Decreased to a surplus (-$128B)
George W. Bush
2001–2009
39.6% → 35%
35% (effective lowered)
+$4.90 Trillion
Expanded ($128B surplus → $1.41T deficit)
Barack Obama
2009–2017
35% → 39.6%
35%
+$9.32 Trillion
Decreased from Great Recession peak ($1.41T → $585B)
Donald Trump
2017–2021
39.6% → 37%
35% → 21%
+$7.80 Trillion
Expanded ($585B → $3.13T COVID peak)
Joe Biden
2021–2025
37%
21%
+$8.46 Trillion
Decreased from COVID peak, stabilized ~$1.8T
Primary Drivers of Debt Across Administrations
- Tax Cuts: The 1981, 2001, 2003, and 2017 tax cuts reduced baseline federal revenue relative to economic growth, contributing directly to projected cumulative deficits.
- Emergencies & Military Spending: Major increases under Bush Jr. stemmed from post-9/11 defense/security spending and Medicare Part D. Large spikes under Obama, Trump, and Biden were heavily driven by emergency response packages (the Great Recession in 2008–2009 and the COVID-19 pandemic relief in 2020–2021).
- Mandatory Spending & Interest: Automatic entitlement spending (Social Security and Medicare) combined with rising debt service costs has continuously driven higher structural spending across every recent administration.
Social Security adds to the federal deficit because it functions as a pay-as-you-go system where the total tax revenue collected in a given year is no longer enough to pay out all scheduled benefits.
Even though employees contribute 6.2% and employers contribute 6.2% (for a combined 12.4% payroll tax), the total dollar amount flowing in isn’t fixed—it shifts based on demographic trends and wage caps.
The Key Reasons Social Security Increases the Deficit
1. Demographic Shift (Worker-to-Retiree Ratio)
When Social Security was built, there were many active workers supporting a small number of retirees. Over time, that ratio has collapsed:
- 1950: ~16.5 workers per beneficiary.
- 1980: ~3.2 workers per beneficiary.
- Today: ~2.7 workers per beneficiary.
As the massive Baby Boomer generation retired and life expectancies increased, the number of people collecting benefits expanded far faster than the workforce paying payroll taxes.
2. How the Trust Fund & Treasury “IOUs” Work
For decades (1980s–2000s), Social Security collected more in payroll taxes than it paid out. By law, those extra tax dollars were deposited into the U.S. Treasury, and the Social Security Trust Fund received special-issue, interest-bearing U.S. Treasury bonds (IOUs) in return.
The Treasury used those cash surpluses to fund general government spending (defense, infrastructure, education).
Now that daily payouts exceed incoming payroll taxes, Social Security must cash in (redeem) those Treasury bonds:
- Social Security presents its Treasury bonds back to the federal government to get cash for retiree checks.
- Because the U.S. government already spends more than it takes in through general taxes, the Treasury has to borrow money from the public (sell new national debt) to pay Social Security back.
- This cash redemption directly increases the unified annual federal deficit.
3. The Payroll Tax Cap
The 6.2% payroll tax only applies to income up to a specific annual cap ($176,100 in 2026). Earnings above that threshold are exempt from Social Security taxes, meaning high earners contribute a smaller overall percentage of their total income toward the program compared to average workers.
4. Wage Growth vs. Benefit Calculations
Initial monthly benefit amounts are tied to historical wage growth and inflation indexing. When wage growth lags behind benefit cost growth or inflation spikes, the total payout requirements grow faster than the revenue generated by the 12.4% combined tax.
Summary
Social Security isn’t adding to the deficit because the 12.4% tax isn’t being paid—it is adding to the deficit because the cost of promised benefits exceeds the revenue generated by that 12.4% tax. Bridging that gap requires the federal government to borrow cash from the open market to honor the bonds held in the Social Security Trust Fund.
Both Republicans and Democrats share equal responsibility for using Social Security funds. Neither party “stole” or secretly diverted the money; rather, both parties intentionally designed, passed, and maintained a bipartisan framework that spent Social Security’s cash surpluses on general government operations for nearly four decades.
How Both Parties Spent the Money
- Creating the Unified Budget Accounting (1968–1969)
- Who Started It: President Lyndon B. Johnson (Democrat) introduced the “unified budget” model in 1968.
- How It Works: Rather than keeping Social Security’s cash in a completely separate vault, the government counted payroll tax collections as part of total federal revenue.
- Bipartisan Continuation: Every single Democratic and Republican administration and Congress since 1969—from Richard Nixon and Ronald Reagan to Bill Clinton, George W. Bush, Barack Obama, Donald Trump, and Joe Biden—kept this system operating in practice.
- Building Up the Massive Surpluses (1983)
- Who Did It: President Ronald Reagan (Republican) signed the bipartisan Social Security Amendments of 1983 into law, following recommendations from a commission led by Alan Greenspan.
- The Goal: The law raised payroll taxes to intentionally collect more money than was needed to pay benefits at the time, aiming to build up a surplus reserve for when the Baby Boomer generation retired.
- The Reality: Instead of sitting idle as raw cash, every extra dollar of payroll tax was turned over to the U.S. Treasury to cover regular spending—like defense, infrastructure, and federal agency budgets. In return, the Social Security Trust Fund received special-issue U.S. Treasury bonds.
How Much Was Spent?
Between 1983 and 2021, Social Security collected roughly $2.9 Trillion more in payroll taxes and interest than it paid out in benefits.
- The Total Spent: The federal government spent that entire $2.9 trillion surplus on general government expenses over nearly 40 years under both Republican- and Democratic-controlled Congresses and White Houses.
- What Holds the Fund Today: In place of the cash, the Social Security Trust Funds hold $2.7 trillion in U.S. Treasury bonds (special-issue IOUs).
Is the Money Lost?
The money was not lost or stolen, but the trust fund now holds debt paper rather than cash.
- The Catch: Because Social Security now pays out more per year in benefits than it takes in via payroll taxes, it must cash in (redeem) those Treasury bonds.
- The Fiscal Problem: Since the U.S. Treasury doesn’t have $2.7 trillion in extra cash lying around, the federal government must borrow money from the public (issue new national debt) to pay Social Security back so it can send out monthly checks.
Both political parties benefited from having surplus tax dollars to fund general government spending for decades without raising general income taxes, and both parties now face the obligation to pay those Treasury bonds back.
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