The Social Security Fairness Act has bipartisan support, but time is running out for Senate vote

[BumRushDaShow]

7. What?

Remember the "pay into" thing is a TAX - "FICA" (Federal Insurance Contributions Act) under the original name of "Social Security" which is -

"OASDI" (Old Age, Survivors, and Disability Insurance).

I.e., it is "INSURANCE" like life insurance or car insurance, etc.

https://www.irs.gov/taxtopics/tc751

Other "insurances" can be designated to cover others as "recipients". Social Security is not like an "annuity".

There are millions who pay the FICA tax (including paying it for 40 quarters or more - i.e., "full vested" ) who never reach the age to even collect it (mostly POC), and no one is reimbursing them after they are deceased (if not designated). There are caveats that happen when you designate a spouse/dependent/survivor - i.e., the original contributor has a REDUCED benefit when they retire (even when the spouse is still working and is otherwise "ineligible" ) and that continues if their designated spouse predeceases them.