AARP report says Social Security could pay full benefits until 2059 with GDP-matched payroll

A new report from the AARP Public Policy Institute reveals that Social Security's taxable payroll has declined as a share of gross domestic product over the past four decades. Had payroll tax revenue kept up with GDP growth, the program would be capable of paying full benefits until 2059, pushing back the currently projected depletion date of 2034 by 25 years. Experts note that the program's financial strain stems not only from an aging population and falling fertility rates, but also from broader economic shifts. Income inequality, a rise in automation, and a shift from traditional wages toward business and investment income have resulted in a smaller portion of the U.S. economy being subject to payroll taxes.