Headlines
Spinning the Job Numbers: Two Divergent Viewpoints
President Donald Trump and presumptive Democratic presidential nominee Joe Biden each took stands regarding the recent government reports on the 4.8 million jobs added in June and the downward trend in unemployment levels. As could be expected, they disagreed on…
Happy 4th of July Weekend!
We at Social Security Report have a little historical trivia here for July 2-4. First, read this letter from John Adams of Massachusetts to his wife Abigail, written July 2nd (yes 2nd), after The Second Continental Congress voted to approve a…
Fertility Breeds Instability for Social Security
Brenton Smith of Fedsmith.com explains how lower fertility is not a new problem. Politicians have known about it for decades. He ties the issue to Social Security’s long term solvency problems, which are now closer by several years due to…
A presidential candidate’s radical Social Security reform: The 6.2% Plan
Keith Speights profiles Libertarian presidential candidate Jo Jorgensen’s Social Security plan, perhaps the most radical transformation since the program’s founding in 1935. Never heard of Jorgensen? Neither has most of America. Third party candidates rarely gain traction in our history. …
Next 3 Months Are Crucial for Social Security Recipients
July, August, and September are crucial for anyone receiving Social Security benefits. That’s because the consumer spending data from only those three months are used to calculate the inflation rate. This then determines what the cost of living increase (COLA)…
Can Taxing the Rich Save Social Security?
Sean Williams explores both sides of a common argument made to assist Social Security’s ailing financial health– tax the rich more. Will it work? Extending the 12.4% combined employee/employer payroll tax beyond the current $137,700 wage cap would generate immediate…
For Gen Xers: Don’t Rely Too Heavily On Social Security
In this Motley Fool article by Maurie Backman, the author laments that far too many “Gen Xers” – that group of Americans born between 1965 and 1979 – rely too heavily on Social Security in their retirement planning. And this…
New IRS Rule Allows Return of Required Minimum Distributions
In a welcome announcement from the IRS, it is now possible to give back Required Minimum Distributions (RMDs) taken after January 1st of this year by rolling it back into your retirement account, but it must be done by August…
Social Security Claiming Mistakes That Can Cost You Dearly
By far the majority of beneficiaries claim Social Security benefits before they reach their full retirement age, without really thinking through all of their claiming options and selecting the one which is best for their personal situation. In this NASDAQ…
“Fixing” Social Security Might Still Negatively Affect Beneficiaries
One of the most talked-about Social Security issues these days is the impending depletion of the program’s Trust Fund reserves and the effect that would have on benefits. Across-the-board cuts somewhere in the 20% (or higher) range are often cited…