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Myths about Social Security
Social Security, with its status as one of America’s most important senior benefit programs, is surrounded by many common myths and misunderstandings. Although some of those myths are often repeated simply to stoke emotion about supposed nefarious deeds by politicians, some myths about…
Social Security’s “First Year” Rule: When you claim early and still work
Here at The AMAC Foundation, we often hear from folks who are vaguely aware that if they collect Social Security benefits early and continue to work, their benefits may be affected. The details of Social Security’s “Earnings Test” can be tricky,…
A Millennial’s Perspective on Social Security
We regularly see surveys lamenting that today’s millennials think Social Security won’t be there for their future retirement. To be fair, although I am a couple of generations ahead of today’s millennials, I was guilty of similar thoughts way back in the early years…
Balanced budgets, debt, and Social Security
Like Most Americans you likely believe the federal government should live within its means and not spend more than it takes in. You are uncomfortable with our government borrowing more than $1 trillion to meet its overspending just this fiscal…
Sanders draws a contrast to Biden on Social Security
The temperature is heating up. Media outlets are beginning to comment on a brand new 30 second ad (see here) from the Bernie Sanders campaign. Sanders uses Joe Biden’s own words from the 1990s against him. It was a decade when both…
Biden has come around to the Sanders position on Social Security
This opinion piece by Mark Weisbrot in MarketWatch states that Joe Biden has moved more toward the Bernie Sanders position on Social Security in this campaign. Sanders, standing virtually alone, has been trying to increase benefits since getting to Congress…
Is Social Security Being Cheated Out of Revenue?
The way Sean Williams sees it, the Social Security program was deprived of $190 billion in 2019 because almost $1.6 trillion in earned income avoided the payroll tax last year. As he explains, there is a payroll tax cap, meaning all…
Did Politicians Steal Social Security Money?
It’s a nearly constant myth we hear at The AMAC Foundation – that Social Security’s financial woes have been caused by greedy politicians who stole the money to use for other nefarious purposes. We’ve written and published articles debunking this myth…
Bernie Sanders’ Social Security Plan overlooks a number of ongoing demographic changes
We all know Social Security is in trouble. The program is expected to experience its first net cash outflow this year. According to the 2019 report from the Social Security Board of Trustees, if things continue, the program will exhaust…
When delaying Social Security doesn’t make sense
Claiming your Social Security benefits at your full retirement age (FRA) is not mandatory. You are allowed to file for your benefit as early as age 62, the most popular age, or you can delay benefits until you turn 70.…