Answer :
Social security will be around for another 50 years.
After the trust fund's reserves run out in 2034, current employees will still receive Social Security payments, but unless Congress takes action, it's probable that future retirees may only receive 78% of their full benefits.
Congress must enact legislation to address the long-term budget crisis facing the Social Security administration in order to guarantee that workers receive what they were promised.
A 12.4% tax on the majority of American employees' earnings, which the government collects through FICA payroll taxes (and employer matching) or the SECA taxes paid by self-employed people through their IRS reports, accounts for 90.1% of Social Security revenue.
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