The Good Parts of Closing Social Security Loopholes
To start, the new budget bill did not stop the loopholes completely, those already participating in them will be grandfathered in and still allowed to do what they are doing. Rather, the loopholes are being shut down 6 months after the date that the bill passed. Even still, those over a certain age in 2015 can still apply under the old rules and claim the same benefits, this new bill is mostly affecting those too young to begin applying in the next year. The thing making this new system good is in its simplicity, applying for Social Security should not be an arduous ordeal, it should be as easy as possible. For more information on this subject visit this article by Alicia H Munnell with PBS.