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Think You Know the Basics of Social Security? Take This Quiz
The Social Security Act was passed in 1935 with several additional changes to the law over the years. The most recent changes of consequence were in 1983 and 1993. But, even though 61 million Americans are currently receiving monthly benefits,…
Social Security’s Costs: Are We Better off Without it?
Social Security payroll deductions consume a large component of workers’ paychecks at 12.4%. This amount is split equally between employee and employer, with self-employed individuals paying the full amount themselves. For many, this is more than they pay in federal income tax. …
Picking the Right Social Security Age: Not an Easy Decision
Sean Williams notes the difficulty in selecting the right age to claim Social Security benefits as an imperfect science coupled with luck. But one should at least know the four factors used in determining monthly benefits, so as to try to make the…
Delaying Social Security reform imperils next generation’s future
This article is an edited transcript of a conversation between David Branaccio and Arun Muralidhar, founder of MCube Investment Technologies, on the dangers of not acting on Social Security reform soon. The two discuss the Social Security Trustees report from June 2018. …
File for benefits early or late? Try “on time”.
What does it mean to file for Social Security benefits “on time”. While there is no single right time or one-size fits all answer, this article examines the issue, including the idea of “holding off a little” past early retirement at 62…
WV Attorney General Warns About Social Security Phone Scam
To never give out a Social Security Number over the phone is a refrain we have all probably heard before. It is worth repeating, however, in light of a new phone scam going around. Patrick Morrisey, West Virginia’s Attorney General, is warning…
Social Security, Medicare, Medicaid cuts are only way to balance the budget
Stating that “what we can afford is considerably less than what we want”, Professors Antony Davies and James Harrigan opine that some cuts to Social Security, Medicare, and Medicaid are unavoidable, as these three programs alone represent over half of…
Balanced Budget Amendment Need Not Mean Cuts to Social Security
Congressman Morgan Griffith (R, VA-9) addresses the issue circulating in the media, that to support a balanced Budget amendment to the Constitution, means cutting Social Security and Medicare. He calls that “crazy talk”, as there is nothing in the text…
Paid Leave & Social Security: A Brief Look
A paid leave program as part of Social Security is sure to irk conservatives as too expensive and liberals as a necessary benefit, mainly for women. Carrie Lukas notes the “hit” to the Social Security Trust fund’s solvency could actually just…
Social Security & Medicare: Fix Sooner Rather Than Later
That Social Security and Medicare’s Hospital Trust Fund both become insolvent in 2034 and 2026 respectively has made much news since release of the Trustees Report in June. But Daniel White notes “this is the first time in 36 years…