Economic boom not enough to solve Social Security’s problems
Those who like economic forecasting, numbers, and aggregate data will enjoy this piece in The Motley Fool. While acknowledging Social Security’s troubles and the looming insolvency by 2034, Sean Williams asks if it could be that the economic boom and 4.1% GDP growth will mean MORE payroll tax collected than forecast and thus lessen the yearly deficits in Social Security in the near term? Of course, if yes, that must be contrasted with the tax cut, which cut rates across the board, meaning less Social Security will be taxed at higher levels. Read more about this analysis here.