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Would Taxing the Rich More Solve Social Security’s Woes? No.
Democrats routinely introduce bills to increase taxes on the wealthy, mainly by increasing the amount of income subject to the combined 12.4% payroll tax. For 2023 the first $160,200 is subject to tax. Various proposals would change that to the…
Why Some Say It’s Best Not to Count on Social Security
Chuck Saletta explains the ‘pay as you go’ nature of Social Security. That of course is the very problem it faces financially, as there are increasingly too few workers to cover promised benefits for people living and collecting much longer.…
Social Security’s Worsening Immigration Problem
Put immigration and Social Security in the same sentence and most people would say something like, “If it weren’t for all the illegals collecting Social Security, there wouldn’t be any problem.” But, alas, illegal aliens cannot collect that benefit. Sean…
Newly Divorced? What You Need to Know About Social Security
With divorce being as common as effecting 50% of the population according to most statistics, Social Security benefits may not be top of mind but perhaps should be. Kailey Hagen covers three areas in this piece as follows: 1. You…
Social Security and Debt Default– Here’s What to Know
The United States has never defaulted on its debt. But, the U.S. government has hit the top threshold called the debt ceiling that Congress has set. Of course all Congress has to do is raise it again, as it has…
Often Overlooked: Medicare Insolvency
With most media reports focusing on Social Security’s financial issues expected to hit in the mid-2030s, an equally troubling financial problem is often overlooked – Medicare’s Trust Fund for hospitalization coverage is projected to run dry in 2028, a scant…
Call Social Security? Or Call the AMAC Foundation’s Social Security Advisory Service?
This CNET article by Nina Raemont encourages those with questions about their Social Security benefits to call the Social Security Administration for answers. That’s decent advice, but may not be a panacea which gets all your Social Security questions answered.…
Social Security Says “We’re here for you”
According to the Social Security Administration’s most recent blog, “Social Security is here when you’re ready for retirement,” and that is certainly true. Social Security is, after all, the national retirement program which has been providing benefits to eligible seniors…
Know Your Benefit Amount Before Claiming Social Security
Surprisingly, a majority of those who claim Social Security do so without knowing how much their monthly benefit will actually be, nor do they understand the consequences of claiming as soon as benefits are available at age 62. The result…
McCarthy to Biden: Cuts to Social Security & Medicare Not in Debt Ceiling Negotiations
Contradicting an assertion by the Biden Administration, Republican Speaker of the House Kevin McCarthy emphatically rejected the possibility of cuts to either the Social Security program or Medicare program being included in negotiations over raising the national debt ceiling. But…