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5 Potential Social Security Fixes
Social Security’s tax revenue and trust fund reserves will provide enough cash to pay out promised benefits until 2033. After that, the trust fund will be exhausted and incoming payroll taxes will only bring in enough to pay for 77 percent of scheduled benefits. But there are a variety of ways to correct this funding shortfall. A recent National Academy of Social Insurance and Greenwald and Associates report and online survey of 2,013 adults examined the changes that could be used to improve the Social Security system’s finances. Here are five potential Social Security fixes, and how well they would correct the financing gap…Read More