Could raising or eliminating the tax cap fix Social Security? - Newsweek
The Current Population Survey conducted in 2025 found that 24 percent of Americans aged 65 and over reported receiving 90 percent or more of their income from Social Security. As Social Security is a primary source of income for so many Americans, it is important to understand how insolvency will affect those individuals who depend solely on their Social Security benefits. Many individuals attribute Social Security’s insolvency not only to America’s aging population and lower birth rates; recent data also show that another factor is accelerating the program’s financial strain: income inequality. Suzanne Blake, writing for Newsweek, discusses how Social Security’s major cuts are more likely due to growing income inequality. Read Ms. Blake’s article here…
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