Understanding Social Security: Myths and Realities

What is one of the wild claims about Social Security that has been circulating?

• Social Security is a new program.

• Benefits are being paid to people over 112 years old.

• The trust fund has been doubled.

• Social Security is only for the wealthy.

How many consecutive years has the Social Security Administration passed financial audits?

• 5 years

• 50 years

• 31 years

• 10 years

What is the actual percentage of calls to the SSA that involve direct deposit fraud?

• 25%

• 0.37%

• 10%

• 40%

Why might some powerful individuals want to privatize Social Security?

• To allow Wall Street to manage the funds

• To reduce taxes

• To eliminate Social Security

• To increase government control

What is a proposed solution to address the potential depletion of the Social Security trust fund?

• Increasing benefits for all

• Eliminating Social Security

• Raising the cap on payroll taxes

• Lowering the retirement age

What does the Social Security trust fund primarily consist of?

• Cryptocurrency

• Real estate investments

• Gold reserves

• Treasury bonds

What is the overhead cost percentage for the SSA?

• 10%

• 5%

• 1%

• 15%

What is a major challenge faced by the SSA in terms of technology?

• Too many employees

• Excessive funding

• Outdated systems

• Lack of internet access

What is the main reason for the SSA's outdated technology?

• Lack of interest

• Political decisions

• Technological advancements

• Excessive modernization

What is the core principle of Social Security according to the video?

• Everyone pays in and everyone benefits

• It is a temporary program

• Only the wealthy benefit

• It is only for retirees