Latest News
Social Security Revenue Decreased – Wage Inequality to Blame
Vince Cariaga explains how Social Security is on an unsustainable path. Payroll taxes fund most benefits paid. He takes readers through the program’s looming insolvency, noting payroll taxes will only be able to pay around 78% of benefits in just…
Social Security 101
Rare is the author who will write a very basic piece on the Social Security program that is short and to the point. But Ashlyn Brooks did just that in this Business Insider piece. She explains both the retirement and…
4 Unexpected Ways You Could Lose Social Security Benefits
What you get for Social Security is based on what you put in– there’s a formula that uses one’s 35 highest years of work. But Katie Brockman notes there are some situations where one could lose some of that. Forewarned…
Tom Brady isn’t the only one ditching retirement to return to work
Millions left the workforce in 2020. Roughly 2.6 million Americans retired earlier than expected between February 2020 and October 2021. But now, employer demand and newfound flexibility, along with a jittery stock market, are drawing many early retirees back into the workforce…
Younger workers likely to see less generous Medicare & Social Security
It’s a fact that the trust funds are nearing depletion for both Medicare and Social Security. But too few politicians wish to even address the issue. Sen. Mitt Romney (R-UT) suggests cutting future benefits for those not yet receiving them,…
What to know about reopening of Social Security field offices
In early April Social Security Administration (SSA) field offices are due to reopen after being closed for two years due to the COVID-19 pandemic. A rush of visitors is expected. During the shutdown, most public services for the program were restricted…
Social Security & Medicare– Bankrupt? No. Insolvent? Yes.
You may have seen Sen. Rick Scott (R-FL) promoting an 11-point plan to “rescue America.” While part of that plan calls on requiring the nearly 50% of Americans who pay no income tax to pay something, the other part relates…
Income Tax on Social Security Benefits
It’s often a shock to many when reality hits for the first time– that they owe income taxes on some of their Social Security benefits. Twelve states also tax benefits. Harriet Edelson takes readers through the thresholds of when tax…
Big Raise for 2023? Probably. But Don’t Get Giddy.
Mauurie Backman notes Social Security recipients have gotten meager cost of living adjustments (COLAs) for more than a decade, until the 5.9% COLA of January 2022. Based on recent data, a 7.6% COLA is predicted. A “raise” it is not,…
Do Most Get Back in Benefits What They Paid in Taxes? Yes; Way More.
Vance Cariaga states what many Social Security and Medicare beneficiaries probably will refuse to accept– most people will take out a lot more than they ever paid in to the Social Security and Medicare programs. “An Urban Institute report issued…