Social Security Report

Taxable Wage Base Imbalance, Governmental Inaction Cited as Insolvency Contributors

Emile Hallez, ESG editor at InvestmentNews notes in a recent article titled “Finances of Social Security are a disaster in the making” offers opinions from Mary Beth Franklin, a former InvestmentNews contributing editor, and Andrew Biggs, a senior fellow at the American Enterprise Institute, that address basic causes of the looming insolvency problem facing Social Security. Ms. Franklin notes that the amount of wages subject to payroll taxes has fallen significantly behind the level anticipated decades ago, while Mr. Biggs comments on the political difficulties related to program reform. Mr. Hallez’s article, posted on investmentnews.com’s Retirement page, can be read in full here.

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